Week In Review: China Pharma Cross-Border Deals

Deals and Financings

BioAtla LLC, a San Diego-Beijing biotech, raised $45 million from the Global BIO Impact Fund, a US bioscience investor (see story). BioAtla will use the capital to develop its portfolio of Conditionally Active Biologic antibody therapeutics. The capital will consist of two tranches: a $15 million equity investment available at the end of January and $30 million, available before the end of March, of non-dilutive funding to support early development of several BioAtla CAB antibody candidates. BioAtla will choose the supported programs, and Global Bio will share in the risk and/or reward of the first four BioAtla drug candidates to receive IND approval by the US FDA. 

Eye Tech Care SA, a medical device maker located in Lyon, France, received a cross-border $27 million funding from China’s Everpine Capital to support development of Eye Tech Care’s non-invasive ultrasound treatment for glaucoma, particularly in China (see story). EyeOP1®, an innovative medical device that uses Ultrasound Ciliary Plasty, treats uncontrolled glaucoma regardless of previous treatment. Eye Tech Care began the China registration process for EyeOPI in 2015. Everpine invests in companies that want to expand into China. 

Pfizer (NYSE: PFE) acquired Treerly Health Co., a China consumer healthcare company that makes women’s nutritional products (see story). Treely is a wholly-owned subsidiary of Sirio Pharma, which makes vitamins that Pfizer sells in China under its own brand name. The purchase price was not disclosed. Following its $160 billion merger with Allergan (AGN), Pfizer itself is thought to be interested in spinning off some assets, and one of those asset classes could be its consumer health business. 

20/20 GeneSystems of Maryland, which has developed an early biomarker test for lung cancer, booked $4.5 million in a Series A round (see story). The funds will be used to commercialize the test in China. The funding was led by Ping An Ventures, the venture division of China’s largest insurance company, and joined by individuals and families affiliated with San Francisco’s Keiretsu Forum, an Angel network.