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September 01, 2020 1:41pm
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Week in Review: Sorrento Acquires ACEA in $488 Million Deal between Two San Diego-China Oncology Biopharmas

Deals and Financings   Sorrento Therapeutics will acquire ACEA Therapeutics in a deal worth up to $488 million; both companies are San Diego-China oncology biopharmas; Long Hill Capital, a  China  healthcare venture firm, closed its third fund with more than $300 million in committed capital; Hutchison China MediTech raised $100 million in a private placement with Baring Private Equity Asia for its ten oncology assets; NewMed Medical Company of  Shanghai  closed a $100 million Series C round led by  Singapore 's Temasek for minimally invasive heart disease devices; Biogen, a  Cambridge ,  MA  biopharma, in-licensed ex-China rights to a biosimilar aimed at rheumatoid arthritis from  Guangzhou 's Bio-Thera; HitGen of Chengdu identified novel small-molecule compounds for a high-value biological target in a collaboration with San Francisco 's BioAge Labs;  Trials and Approvals   Beijing 's BeiGene was approved to manufacture the company's marketed anti-PD-1 antibody at its new one million square feet  Guangzhou  facility; Shanghai 's I-Mab dosed the first patient in a US Phase I trial of a novel bispecific antibody in patients with advanced or metastatic solid tumors; Bridge Biotherapeutics, a Korea - China - US company, started a Phase I/II trial of a novel EGFR inhibitor in NSCLC patients with a specific mutation; Shanghai Antengene will start a China Phase I clinical trial of a dual inhibitor in patients with advanced solid tumors or non-Hodgkin's lymphoma;  Industry News   Invesco launched a new China Healthcare Equity fund that offers a diversified portfolio of China-listed healthcare companies.  Stock Symbols: (NSDQ: SRNE) (NSDQ: BIIB) (SHA: 688177) (SHA: 688222) (NSDQ: BGNE; HK: 06160) (NSDQ: IMAB) (KOSDAQ: 288330) (HK: 6996)
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