Perennial Real Estate Holdings (SGX: 40S), a Singapore company, announced a $1.2 billion joint venture that will acquire and develop healthcare centers in China (see story). It plans to concentrate on integrated mixed-use developments, centered around healthcare, that are connected to China high speed railway stations. Perennial is already building two such properties, one in Chengdu and the other in Xi'an. Its major partner in the JV will be Shun Tak Holdings (HK: 242), a Hong Kong conglomerate. Perennial contributed $225 million to the first close of the JV, which is $500 million.  

Jiangsu Hengrui Medicine (SHA: 600276)  out-licensed ex-China rights for a novel JAK inhibitor to Arcutis Pharma, a California dermatology company, in a deal worth up to $233 million, plus royalties (see story). Arcutis will have rights to SHR0302 to treat dermatology disorders in the US, Europe and Japan. Hengrui is testing SHR0302 in a China Phase II trial for rheumatoid arthritis, though its agreement with Arcutis includes only topical use of the drug for dermatology diseases.  

SomaLogic of Boulder, Colorado capped its $200 million funding round, anchored by China's iCarbonX and joined by Nan Fung Life Sciences and Madryn Asset Management (see story). SomaLogic measures the levels of human proteins in an individual as a tool for managing their health and wellness. The company's SOMAscan® technology, which currently measures 5,000 proteins per sample, has analyzed more than 150,000 samples across more than 50 diseases or conditions. It plans to complete another 1 million samples by the end of 2020.  

Aslan Pharma (TT: 6497) of Singapore acquired global rights to varlitinib, its lead candidate aimed at several solid tumor cancers, from Array BioPharma (Nasdaq: ARRY) in a $129 million agreement (see story). In 2011, Aslan originally acquired rights to varlitinib through proof-of-concept stage. At that point, Aslan planned to partner the drug to a third party, with Aslan and Array splitting the proceeds. Now, Aslan will own full commercialization rights to varlitinib with two payments of $12 million, plus $105 million of milestones and tiered low double-digit royalties on varlitinib sales.  

Sansure Biotech of Changsha, a molecular diagnostics company, raised $77 Million in a funding round led by Lilly Asia Ventures and Highlight Capital with participation from June Capital (see story). Sansure provides innovative molecular diagnosis and genetic testing kits and tools to diagnostic labs and researchers. It makes nucleic acid extraction kits, real time polymerase chain reaction (PCR) diagnostic and research kits and fluorescence systems. Sansure claims to be the second-largest China company in its market niche.  

KBP Biosciences, a Jinan clinical-stage pharma, closed a $76 million Series A financing to support its pipeline and open a global Philadelphia headquarters (see story). The company will continue to operate its Jinan facility. KPB focuses on re-purposing approved medications with well-understood mechanisms to treat unmet needs. The company was founded by serial entrepreneur Dr. Zhen Hua Huang, who previously owned a China generics company. As part of the new funding, KBP hired Brian McVeigh, a GSK (NYSE: GSK) veteran, as CEO.  

Beijing's Genetron Health, a precision medicine oncology company, raised over $61 million in a Series C round led by Zhongjin Kangrui Medical Industrial Fund (see story). Founded in 2013, Genetron offers molecular clinical services and professional cancer genetic risk assessment, covering full-cycle cancer clinical treatment. The company has R&D centers in North Carolina and Beijing, plus clinical medical testing centers in Beijing, Shanghai and Hangzhou.  

Zhejiang DTRM Biopharma announced a $60 million Series A round that will support clinical trials of its lead cancer candidate, a Bruton's tyrosine kinase (BTK) inhibitor (see story). The candidate is currently in US and China Phase I trials for B cell lymphoma and chronic lymphocytic leukemia. DTRM was established in 2011 by He Wei, PhD, a returnee, and Zhejiang Hisun Pharma (SHA: 600267). The company is testing its BTK-inhibitor as a monotherapy and in combination with other drugs.  

ApolloBio (NEEQ: 430187), a Beijing company focused on cancer, has amended its year-old deal to acquire China rights to Inovio's (Nasdaq:INO) DNA immunotherapy aimed at pre-cancers caused by human papillomavirus (HPV) (see story). Under the new terms, ApolloBio will pay $23 million upfront (previously: $15 million) and $20 million (unchanged) in milestones, plus double-digit tiered royalties on sales. Also, ApolloBio will not purchase $35 million in Inovio stock. As before, the agreement gives ApolloBio the right to develop and commercialize VGX-3100 in greater China.  

CMAB Biopharma completed a $38 million Series A funding for its biologic CRO/CMO operations in Suzhou BioBay Park (see story). The company offers process development and manufacturing services for biologic products. The funding was led by C-Bridge Capital, a healthcare PE investor involved mainly with China life science companies, along with BioBAY, a healthcare park, and joined by I-Bridge Capital and Qianhai FoF fund. I-Bridge is the early stage investor of the C-Bridge Group. CMAB intends to serve China and global biotech clients.  

Miracor Medical, an Austrian medical device company, closed a $30 million D funding round, led by Ming Capital of Shenzhen (see story). Miracor is developing an innovative device aimed at limiting damage following a coronary blockage. The company said it would use the new funds to conduct a European test of its device, the PcCSO Impulse System, and begin work for regulatory approval in the US. Because several of the round's participants are Belgian state investors, Miracor will move to Belgium as part of the funding.

Laviana Pharma (NEEQ: 838853), a CRO/CMO with subsidiaries in Beijingand Tianjin, plus a business office in the US, closed a $15 million Series B funding led by Shenzhen Huayi Capital (see story). Founded in 2005 by returnees, Laviana provides outsourced small molecule process and manufacturing services to pharmaceutical companies. In 2016, Laviana listed shares on China's NEEQ, an OTC exchange that lists shares without raising any capital for companies.

Genostics, a Hong Kong diagnostics company, will acquire China rights to Oncimmune’s blood-based cancer testing platform in return for a $13.5 million investment into the UK-based company's shares (see story). Initially, Genostics will bring Oncimmune's EarlyCDT®-Lung toChina. The product is an early, blood-based lung cancer screening test for use in smokers who have not shown symptoms of the disease. Oncimmune will receive a royalty of 8% on the gross revenue, with minimum royalty payments of $21 million over the first six years and $7 million per year thereafter.  

Illumina (Nasdaq: ILMN) will collaborate with China's KingMed Diagnostics (SHA: 603882) to develop ready-to-use in-vitro diagnostic (IVD) assays for molecular oncology and hereditary cancer testing in China (see story). The parties will combine Illumina’s bench-top MiniSeq NGS sequencer with KingMed's testing components, which include library preparation kits and analysis software. In China, KingMed supplies testing products to 21,000 medical institutions and operates 37 independent testing labs.  

Xinogen (Hong Kong) Pharma will collaborate with Montreal's Angiochem to develop Angiochem's paclitaxel-Angiopep-2 conjugate in China (see story). ANG1005 is aimed at treating leptomeningeal carcinomatosis, a neurological metastasis, from breast cancer. Xinogen is a subsidiary of Beijing Shenogen Pharma, a company that is developing small molecule and biologic treatments for cancer. Xinogen, which acquired China rights to develop and commercialize ANG1005, will make upfront and milestone payments and also pay royalties on sales, though specific details were not disclosed.