Deals and Financings

Cathay Fortune International, a Shanghai healthcare private equity firm, will acquire Berlin’s Epigenomics AG (Xetra: ECX; OTCQX: EPGNY) for $186 million in cash (see story). Epigenomics makes a blood plasma test that detects colorectal cancer. The Epi proColon diagnostic is marketed in the EU, the US and China. BioChain, a US company that is the largest shareholder of Epigenomics, owns China marketing rights to Epi proColon. Cathay will acquire Epigenomics through a subsidiary, Blitz F16-83. 

Singapore’s Aslan Pharma officially announced it will conduct an IPO on the Taiwan exchange in May with trading beginning in June (see story). The company will offer 10% of its shares to raise an expected $40 million, a valuation of $400 million. Aslan has raised over $100 million in venture capital and recorded paid-in capital of $36.5 million. Its website lists three drug candidates in clinical trials (one each in Phase I, II and III), two more in preclinical development, and a sixth in discovery. Aslan focuses on immunotherapies and targeted agents for tumors that are prevalent in Asia. 

EpimAb Biotherapeutics, a Shanghai bispecific antibody company, closed a $25 million Series A round, led by Suzhou’s Oriza Seed Capital (see story). Founded in 2015, EpimAb developed its novel FIT-Ig® (Fabs-In-Tandem Immunoglobulin) platform, which generates bispecific molecules with antibody-like properties. EpimAb believes its molecules will prove to be more potent, less immunogenic and easier to manufacture than the competition. EpimAb, which is building a pipeline of immuno-oncology candidates, expects to start its first clinical trial in 2018. 

Shanghai’s Zai Lab acquired Greater China rights to omadacycline, an antibiotic for drug-resistant infections, from Paratek Pharma (NSDQ: PRTK) of Boston (see story). Zai will make a $7.5 million upfront payment plus pay development, regulatory and commercial milestones and royalties. The antibiotic is Zai Lab’s eighth in-licensed product: the company is developing four cancer candidates, two anti-inflammatory products, a treatment for eczema and now an antibiotic. Zai also recently partnered with GE Healthcare to build a biomanufacturing plant in Suzhou. 

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