Week In Review: Mevion Medical Of Boston Closes $150 Million Financing From China Investors

Mevion Medical Systems, a Boston area maker of proton therapy machines, closed a $150 million financing led by YuanMing Capital with participation by other China-based private equity investors (see story). Mevion said the financing provides the company with growth capital, clears existing debt and "optimizes" the shareholder structure. The company believes its proton systems offer a smaller footprint, lower operating costs and improved clinical performance for cancer care.  

Shanghai Kinetic Medical (SHZ: 300326) will acquire Elliquence LLC, a US medical device maker, for $77 million (see story). Elliquence makes radio frequency products that are used in minimally invasive orthopedic surgeries, especially for disc herniation and intervertebral disc tear. About 52% of Elliquence's revenues are from China. Kinetic Medical, which plans to gradually take over distribution of Elliquence's products, also makes minimally invasive surgical systems, especially for orthopedic surgeries, plus orthopedic implants and stents.  

Shunwei Capital (HK: 0656) and DCM Ventures led a $65.7 million C round in Yaoshibang, a Guangzhou online pharmacy trading and education platform (see story). Founded in 2015, Yaoshibang is a B2B trading site for pharmaceuticals. It also provides educational services, a database of diseases and drugs, and career services to pharmacists. In 2016, Yaoshibang raised $16 billion in a B round led by Green Pine Capital Partners and Fosun Group, the parent of Fosun Pharma (SHA: 600196; HK: 02196).  

WuXi Biologics (HK: 2269) will invest $60 million to build a state-of-the-art biologics CDMO operation in the greater Boston area, the fourth new manufacturing project WuXi has announced in the last two months (see story). The four most recent projects, representing a total investment of $792 million, are: Ireland ($392 million), Northern China ($240 million),Singapore ($60 million) and now Wooster, Mass, ($60 million), the eleventh CDMO facility in the company's portfolio. The new plants offer geographical diversity. Previously, WuXi Biologics built facilities in Shanghai and Wuxi City.  

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