Hutchison China Meditech Ltd., of Shanghai, closed its underwritten public offering of American depositary shares (ADS) on the Nasdaq Global Select Market, previously announced by Chi-Med at $26.50 per ADS, raising gross proceeds of approximately $301.3 million before deducting underwriting discounts, commissions and offering expenses. BofA Merrill Lynch and Deutsche Bank Securities (in alphabetical order) are acting as joint global coordinators and joint bookrunners for the Offering. Stifel, Canaccord Genuity, Panmure Gordon (UK) Limited and CITIC CLSA are acting as co-managers for the offering. Read More

Kidney-produced erythropoietin (EPO) desensitizes tumors to the effects of antiangiogenic drugs, improving the understanding of the mechanisms underlying resistance to these agents and potentially, how to improve their therapeutic efficacy. Read More

HONG KONG – Neuraly Inc., a startup from Johns Hopkins School of Medicine and South Korea-based 1st Biotherapeutics Inc. agreed to co-develop brain penetrant c-Abl inhibitors for Parkinson's disease with aims to file an investigational new drug (IND) application with the FDA next year. Read More

ADELAIDE, Australia – Australia's life sciences sector is expected to bring in almost A$3 trillion (US$2.2 trillion) by 2025. The government is pumping funds into the sector and working with industry to update regulations and building needed translational infrastructure to attract global attention. Read More

HONG KONG – For the first time in 16 years, China is planning to implement an updated version of its drug administration law. The CFDA also is set to revise the country's provisions for drug registration in efforts to upgrade its health care industry. Major proposed changes to the drug administration law – which covers both pharmaceuticals and medical devices – are intended to reduce regulations in line with other major markets. Read More

SHANGHAI – Suzhou-based Cstone Pharmaceuticals Co. Ltd. is now a clinical-stage company with the dosing of its first Chinese patient with CS-1001, an anti-PD-L1 monoclonal antibody. In a full field of PD-1 antibodies, Cstone is betting CS-1001 will differentiate it as the first of its kind for China, a fully human and full length programmed cell death protein ligand 1 (PD-L1). The company has gone from zero to entering the clinic at a blistering pace. It was just over a year ago when Cstone made a splash, raising an eye-catching $150 million in series A financing – a record for China. The firm also attracted well-known pharma executives such as Frank Jiang, former Asia Pacific R&D head for Sanofi SA. Read More