Week In Review: Tianjin CanSino Closes $65 Million Round For Vaccine Portfolio

Tianjin CanSino Biologics, a vaccine developer, raised $65 Million in its latest funding round (see story). Currently, CanSino is testing four products in Phase I to III clinical trials,  conducted in North America, Africa and China respectively. It also has three IND submissions awaiting CFDA trial approvals. The latest CanSino financing was led by Future Industry Investment Fund, a private equity fund managed by state-owned SDIC Fund Management. 

Shaanxi Kanghui Pharmaceutical (SHA: 603139) raised $52 million in a Shanghai exchange IPO (see story). Founded in 2009 and headquartered in Xianyang, Kanghui has developed more than 100 products in a number of therapeutic areas. The company recorded a 2016 operating profit of $10 million on revenues of $55 million. Kanghui makes 16 exclusive products, which it sells to more than 2,000 China hospitals, and owns 19 patents. The online portion of the IPO received offers for almost 4000 times the number of shares available. 

Qiming US Healthcare Fund led a $25 million Series B funding in ZappRx, a Boston company offering an automated specialty drug prescribing service (see story). China's Qiming announced the $125 million US fund in January of this year. ZappRx said its platform is currently being used in several US academic medical centers and large multi-specialty practices. The specialty drug market, which involves ordering several products for combination regimens, is expected to reach $400 billion by 2020, according to ZappRx. 

China's Aier Eye Hospital Group (SZE: 300015) agreed to pay $166 million to acquire a 59% stake in Clínica Baviera, S.A., a Spanish company with ophthalmology clinics in Spain, France and Germany (see story). Aier says the deal would make it the largest ophthalmology group in the world. Aier made the offer to six insiders who own 69% of Clinica Baviera. Three insiders and some management decided to retain 10% of the company. Aier also intends to buy the outstanding 41% of the company three years from now. 

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