Week in Review: Concord Medical Raises $240 Million for China Radiology Services

Deals and Financings   Concord Medical Services announced a $240 million private placement led by CICC Capital for its China radiation services operations; CMAB Biopharma of Suzhou raised $34 million in a Series B round led by CDBI Partners to build a GMP biologics manufacturing facility for its CDMO services; Terns Pharma, a California-Shanghai startup, in-licensed global rights to three Lilly small molecule candidates aimed at non-alcoholic steatohepatitis (NASH); Frontage Laboratories, a Pennsylvania-Shanghai pre-clinical CRO, acquired another pre-clinical CRO, Concord Biosciences of Ohio for an undisclosed price; Government and Regulatory China ’s State Council will impose higher standards on generic drugs to insure that China generics are equivalent to brand name drugs; A trade war between the US and China seems imminent, with US tariffs planned on China-made drugs and medical devices; Trials and Approvals Denovo Biopharma, a San Diego-Hangzhou company, started a pivotal US-China Phase III trial of its lead drug for lymphoma patients; Company Spotlight Shanghai Fosun Pharma plans to become the “Huawei of the pharmaceutical industry,” according to its Chairman, because Fosun plans to continue investing in R&D and M&A to expand.  Stock Symbols: (NYSE: CCM) (NYSE: LLY) (SHA: 600196; HK: 02196) Share this with colleagues: // //