Week In Review: China Life Science Deals Total $550 Million

Pfizer (NYSE: PFE) signed a $226 million agreement for China/Asian rights to Cresemba® (isavuconazole), an antifungal drug developed by Swiss pharma Basilea (SIX: BSLN) (see story). Previously, Pfizer acquired rights for Cresemba in Europe, Russia, Turkey and Israel. In the latest deal, Pfizer in-licensed rights for China (including Hong Kong and Macao) and sixteen countries in the Asia Pacific region. Isavuconazole is an antifungal aimed at life-threatening invasive mold infections. Pfizer will develop, manufacture and commercialize isavuconazole in Chinaand the Asia Pacific region.

Everest Medicines announced a $224 million partnership with San Diego’s Arena Pharma (Nasdaq: ARNA) to develop two Arena small molecule candidates in China and southeast Asia (see story). Both candidates are in US clinical trials. Ralinepag is aimed at pulmonary arterial hypertension, and etrasimod is being tested in autoimmune diseases. Everest is a new company, dedicated to bringing innovative western drugs to China and backed with $50 million in an initial financing led by China’s C-Bridge Capital. C-Bridge describes Everest as its incubator platform for bringing novel drugs to China.  

Genova Biotech of Changzhou raised $50 million in a funding led by Tasly Pharma (see story). Genova is developing state-of-the-art diabetes products which it expects to offer at prices below global diabetes providers. Founded in 2014, the company has in-licensed rights to four products, though no details on the transactions are available. Genova is a JV formed by China investor BVCF and Changzhou Life Sciences & Healthcare Construction and Development. With the latest funding, Genova has raised $200 million in capital.

Etong Healthcare of Shanghai, a third-party health examination company, announced a $30 Million Series B funding, led by Vision Plus Capital of Hangzhou (see story). Previously, Etong focused on offering healthcare services to businesses. Now, it wants to build its customer-based operations, offering “customized” check-up opportunities to individuals. Etong has three divisions: one platform connects patients with hospitals to book physical checkups; a second connects patients with overseas checkups; and a third connects  patients with doctors online.