Shanghai's SARI will pay $359 million to acquire a 90% interest in Group NMS, a Milan oncology biopharma (see story). SARI is a biopharma investment firm affiliated with the Chinese Academy of Science research organization with the same name. SARI intends to bring NMS oncology drug candidates to China and integrate the features of the NMS development technology into its own. For the NMS transaction, SARI was the leading investor in a specific fund formed to acquire NMS. It was joined by Hicin Pharma, V-capital and FeiDong Investment.

Shanghai Henlius Biotech boosted its cash level by selling 55.4 million shares to bring in $192.5 million (see story). Shanghai Henlius, a joint venture formed by Henlius Biotech and Shanghai Fosun Pharma (SHA: 600196; HK: 2196) in 2009, is developing a portfolio of biosimilars, bio-betters and novel biotech drugs. Fosun contributed $50 million to the fundraising, giving it a 62% majority stake in Shanghai Henlius after the offering. Henlius says it has submitted eight INDs to the CFDA with thirteen indications. Its two lead drugs have started Phase III trials.  

LP Pharma (Xiamen) raised $30 million in a B round led by state-owned SDIC Fund Management (see story). LP focuses on developing drugs with mucosa/oral controlled delivery technology. The company, formed in 2012 by returnees, initially worked on two treatments, one for AIDS and the other an unspecified cancer indication. Joining the B round were CMB International Capital and Zhangzhou PienTzeHuang Pharma (SHA: 600436).

Wenzhou Kangning Hospital (HK: 2120) plans a $30 million China IPO to expand its private psychiatric hospital offerings (see story). The company owns three hospitals, all in Zhejiang province, and provides psychiatric services in other hospitals. Two years ago, Kangning, which has a $406 million market capitalization, staged an $88 million IPO on the Hong Kong exchange.  

Ch-Gemstone Capital (Beijing), a China-focused life science investor, will invest $28.3 million in NovaBay (NYSE: NBY), a US company with anti-microbial products (see story). CG Capital will purchase $10.3 million of NovaBay stock in a private placement, and it will also acquire an additional 4.2 million NovaBay shares from private investors, at a cost of $18 million. After the transaction, it will be NovaBay's largest shareholder with 6.6 million shares, 37% of the total. NovaBay distributes its NeutroPhase wound-cleaning product in China through Pioneer Pharma of Hong Kong.  

Asieris Pharma, a China company focused on cancer, raised "over" $15 million in a B round. The company will use the capital to support a China Phase III trial of APL-1202, a repurposed oral inhibitor of MetAP2 (see story). APL-1202 is a 50-year-old wide spectrum antibiotic that recently has been shown to have an anti-angiogenesis effect. It will be tested as a treatment for patients with relapsed non-muscle invasive bladder cancer (NMIBC). The B round was led by Lapam Capital.  

Cellular Biomedicine Group (Nasdaq: CBMG), a China-US biopharma, added $14.5 million into its treasury through two private placements, one to key executives and the other to outside investors (see story). CBMG is developing a CAR-T immunotherapy for cancer indications and an off-the-shelf stem cell treatment for knee arthritis.  Before the transaction, CBMG had $16 million of cash. The company plans to use the funds for clinical trials and drug development.  

Merck Serono, a subsidiary of Merck KGaA (Xetra: MRK), will partner with Wuxi AppTec, the major China CRO/CMO, and Pontifax, an Israeli life science investor, to form an Israeli life science incubator (see story). The incubator will be located at Merck Serono's current facilities in Yavne, a town in central Israel. The companies will be joined by Israeli businessman Mori Arkin. According to unnamed sources, the incubator, named “Explore Bio,” is already considering several companies, with initial investments estimated at several million dollars apiece.  

Walgreens Boots Alliance (NYSE: WBA) will reduce its ownership in its China drug distribution JV with Guangzhou Pharmaceuticals Corp (see story). The company announced plans to sell a 30% stake in the JV to Guangzhou for an undisclosed price, reducing its ownership in the JV to 20%. Earlier this month, WBA agreed to pay $420 million for a 40% stake in Sinopharm Holding's GuoDa Drug Store Company, the largest retail pharmacy chain in China. WBA is a global chain consisting of retail pharmacies and drug distribution operations.