Betta Invests $20 Million in Xcovery; Gains China Rights to Cancer Drug

Betta Pharmaceuticals of China announced a $20 million investment in Xcovery, a virtual drug developer based in Florida. The investment gives Betta an equity stake in Xcovery and China rights to Xcovery's clinical-stage ALK inhibitor. An innovative drug discovery company headquartered in Hangzhou, Betta discovered and gained China approval for Icotinib, a non-small cell lung cancer targeted treatment. The Xcovery deal is Betta's first investment in a US company. More details.... Share this with colleagues: // //