Beijing-based CANbridge Life Sciences raised $10 million in venture capital financing led by Qiming Venture Partners and TF Capital, the venture arm of Chinese CRO, Tigermed, building on angel investor funding of the same amount received last year.
The Wall Street Journal articles last week questioning Theranos's testing methods sparked backlash from consumers and lab experts. But the news also set off red flags in the minds of Theranos' partners, as drugstore chain Walgreens Boots Alliance says it won't open any new Theranos blood-testing centers until the startup clears up questions surrounding its technology.
Shanghai-based biotech ZAI Lab said it has partnered with the Tsinghua University Immunology Institute on R&D to discover and develop new drugs and also noted the hire of a senior drug development executive, putting it on a path to novel development from a predominantly in-licensing model since launching in 2013.
Britain's GlaxoSmithKline is using the tour of the country by China's President Xi Jinping to polish its tarnished image in the Middle Kingdom while other healthcare companies have signed more than $3 billion in deals in areas like oncology imaging and doctor training.
AstraZeneca and Eli Lilly are taking their immuno-oncology collaboration a few big steps forward, with Lilly lining up a new series of combination studies matching its cancer therapies with AstraZeneca's big PD-L1 program for durvalumab (MEDI4736).
BioClinica is changing how it does business with other CROs, the company said, responding to client demand and rolling out a new partnering program.
A few of the key players behind Spirogen have hooked up to create a biotech focused on developing the next generation of antibody-drug conjugates. The new company, Femtogenix, is aiming to replicate the success of Spirogen by reconnecting co-founder David Thurston and financier Research Corporation Technologies.
Evotec's CRO division signed a deal with the Beyond Batten Disease Foundation to help discover new potential treatments for the rare, fatal nervous disorder.
Oncology genomics player NeoGenomics is slated to buy GE cancer diagnostic unit Clarient Diagnostic Services in a cash and stock deal worth about $300 million. That's an impressive feat given that NeoGenomics' market cap was less than $350 million prior to the deal announcement.
Novartis, developing cancer treatments that tap the power of the immune system, signed a pair of agreements to pad its pipeline of new oncology therapies, planning to test them alone and in tandem with in-house assets.