Week In Review: China Resources And Charoen Pokphand Join To Launch $300 Million Life Science Fund

China Resources Holdings, a China-Hong Kong state-owned multi-sector conglomerate, will join with Charoen Pokphand Group of Bangkok, a Thai conglomerate, to launch the $300 million CR-CP Life Science Fund (see story). The two general partners will put a combined $150 million of their own money into the fund and raise another $150 million from global life science investors. The fund, based in Hong Kong, intends to invest in companies that are developing innovative drugs and cell therapies, medical devices and healthcare AI.

Indivior, a UK spinout from Reckitt Benckiser, will out-license China rights for its Sai Bo Song opioid addiction tablet to Zhejiang Pukang Biotech in a deal worth up to $122.5 million (see story). Sai Bo Song is a combination of buprenorphine and naloxone, known as Suboxone in non-China markets. Indivior developed Suboxone, but its patent protection on the original formulation has expired. The company is now focused on developing Sublocade, its once-monthly injection of Suboxone, in non-China markets, and Perseris, a once-monthly form of Risperidone for schizophrenia.

DNAnexus of Mountain View, CA closed a $68 million financing from existing investors, including WuXi NextCODE, a contract genomics company (see story). DNAnexus offers cloud-based biomedical informatics and data management of DNA sequence data. The company will use the capital for DNAnexus Apollo™, its multi-omics platform for clinical data exploration, analysis and discovery. DNAnexus supports some of the largest human genome sequencing projects in the world, offering secure infrastructure with access to tools and datasets.

HiberCell, a New York City biotech startup, started operations with $60.75 million in Series A funding led by ARCH Venture Partners, and joined by China investors, Hillhouse Capital and 6 Dimensions Capital (see story). HiberCell is focused on developing treatments that prevent cancer relapse and metastasis by focusing on detecting and treating dormant disseminated tumor cells. As HiberCell points out, most cancer deaths are caused by metastases, which can occur even if the primary cancer has been treated successfully.

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