Week In Review: China's Luxin Invests In $215 Million Funding For Intarcia's Long-Term Diabetes Device

Deals and Financings

Luxin Venture Capital (SHA: 600783) of Shandong Province participated in the first closing of the latest funding round for Boston's Intarcia Therapeutics (see story). Intarcia is developing a novel delivery device for type 2 diabetes, the Medici Drug Delivery System™. The initial close raised $215 million. Intarcia anticipates a much larger close in Q4. Intarcia has completed three Phase III trials of its matchstick-sized implantable device that metes out a year-long supply of exenatide, a glucagon-like peptide-1 (GLP-1) receptor agonist. 

Aspen Pharmacare, a South African generic drugmaker, paid GlaxoSmithKline (NYSE: GSK) $60 million for rights to sell two thrombosis drugs in China, India and Pakistan (see story). Aspen originally acquired rights in most countries to the drugs -- Fraxiparine and Arixtra -- three years ago. The latest rights deal came in addition to Aspen's larger $370 million agreement to acquire a portfolio of GSK's anesthesia drugs (ex-US and Canada). Aspen's CEO, Stephen Saad, said the acquisitions would strengthen Aspen's position in China: "This has taken years to come to fruition," he declared. 

Tianjin Pharmaceutical Holding Group will $20 million in Neuralstem (NSDQ: CUR), a Maryland company using small molecules and stem cells to treat CNS disorders (see story). Neuralstem plans to use the capital for clinical trials. After the investment, Tianjin will control the equivalent of 40% of Neuralstem's outstanding shares. Neuralstem, which currently has a market capitalization of $38.5 million, is focused on novel CNS treatments.

iCarbonX, China's artificial intelligence, big-data health company, acquired an Israeli image recognition firm, Imagu Vision Technologies (see story). Founded in 2005, Imagu Vision has developed image recognition applications for healthcare, medical imaging and non-health fields. In addition, iCarbonX and Imagu have established an iCarbonX-Israel Artificial Intelligence R&D Center, which will develop data analysis and machine learning technologies specifically aimed at healthcare.

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