Week In Review: Korea's Samsung BioLogics Files For $2.5 Billion IPO

Deals and Financings

Samsung BioLogics filed for an IPO on South Korea's main board that will raise between $1.8 and $2.7 billion, valuing the company at $9 billion (see story). Samsung BioLogics, the biopharma subsidiary of electronics conglomerate Samsung, aims to become the world's largest biologic drug CMO. It is also developing its own biosimilar drugs. According to IMS, the global market for biologic drugs will be over $390 billion by 2020 -- representing nearly one out of every three dollars spent for drugs -- which explains why so many pharmas are investing in biologic/biosimilar infrastructure. 

Bio-Techne (NSDQ: TECH) closed its acquisition of Advanced Cell Diagnostics for $250 million in cash plus $75 million in contingent payments if milestones are hit (see story). Both companies are headquartered in the US and supply laboratory tools. ACD was founded by prominent China-US scientists, Dr. Yuling Luo and Dr. Steve Chen. ACD has developed an RNA in situ hybridization technology that monitors gene expression at the cellular level, while maintaining important morphology information. 

Neusoft Xikang Healthcare Technology raised $64 million to support its online healthcare operations in a funding led by PICC Property and Casualty (see story). Neusoft Xikang is a division of Neusoft Medical, a medical imaging company, which is in turn a division of China's giant IT company, Neusoft (SHA: 600718). Xikang will use the capital to integrate its online health management services with commercial insurance and sensing technology. The investors in the funding include companies involved in insurance and wearable health monitoring devices. 

Bristol-Myers Squibb (NYSE: BMY) will reacquire the rights to ASLAN002 from Singapore's ASLAN Pharma. ASLAN002 is a dual inhibitor of the cMET receptor tyrosine kinase and RON immune checkpoint (see story). BMS will make a $10 million upfront payment and will pay up to $50 million in development and regulatory milestones. ASLAN will also be eligible to receive royalties on global sales of the molecule. ASLAN in-licensed China rights (plus selected Asian countries) to ASLAN002 in 2011. In March of this year. ASLAN reported positive results from a Phase I trial of the drug candidate. 

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