HONG KONG – Home to large populations and steadily growing economies, Asia is poised to serve as an important growth region for pharmaceuticals for decades to come.

SHANGHAI – Canbridge Life Sciences Inc., a Beijing-based biopharma company started in 2012 with angel and private capital, has received $10 million in a series A investment from leading local health care venture capital funds Qiming Ventures and TF Capital. The investment will be used to further Canbridge's two existing in-licensed programs and put cash in its pocket to bring in more assets.

60P Australia Pty Ltd., a subsidiary of 60° Pharmaceuticals LLC, of Washington, has entered an exclusive partnering deal with Monash University obtaining rights to develop the drug fenretinide for dengue fever. Terms were not disclosed.

R-Tech Ueno Ltd., of Tokyo, said it received orphan drug designation from Japanese regulators for unoprostone isopropyl for the treatment of retinitis pigmentosa. An ophthalmic solution version of unoprostone is in phase III testing. R-Tech licensed U.S. and Canadian rights to the drug to Sucampo Pharmaceuticals Inc., of Bethesda, Md., in 2009 and expanded the deal in 2011 to include the rest of the world, except for R-Tech's territories of Japan, South Korea, Taiwan and China.

Vyome BioSciences, of New Delhi, India, named Richard Buchta, previously head of Glaxosmithkline plc's dermatology unit Stiefel Laboratories in Australia, senior vice-president of research and development. Vyome also added Ranjan Pai, CEO of the Manipal Education & Medical Group International India Pvt. Ltd., of Bengaluru, to its board.

SHANGHAI – Lee's Pharmaceutical, of Hong Kong, has licensed from Ikaria Inc., of Hampton, N.J., the rights for Inomax, an inhaled nitric oxide that treats hypoxic respiratory failure (HRF) in newborns of 34 weeks gestational age. This follows Lee's successful strategy of licensing products that go after unmet medical needs in China and strengthens the firm's position in pediatric and critical care drugs.

The takeout speculation prompted by Avanir Pharmaceuticals Inc.'s patent victory earlier in the year came to pass in the form of an agreement with Otsuka Pharmaceutical Co. Ltd. under which the Tokyo-based pharma will pay $17 per share in cash, or about $3.5 billion, in a deal expected to close in the first quarter of next year.

SHANGHAI – Over the last few years, multinational corporations (MNCs) have become increasingly comfortable with adding China sites to their lists of multiregional clinical trials (MRCTs). A significant reason for doing so has been the possibility of conducting trials simultaneously, potentially shaving years off the regulatory time frame for imported drug approvals in China.

HONG KONG – Carsgen, a Chinese developer of cancer therapies, announced its completion of an undisclosed series A financing led by China-based health care private equity fund BVCF Management Ltd. The proceeds will be used to initiate the clinical trials of Carsgen's lead therapeutic asset.