Week In Review: WuXi AppTec Acquires HD Biosciences In China CRO Tieup

Deals and Financings

WuXi AppTec, China’s largest CRO/CMO, acquired Shanghai’s HD Biosciences (see story). Founded in 2002, HD Bio is a pre-clinical CRO that specializes in biologic drug discovery. WuXi said HD Bio will strengthen its biologics R&D capability from target validation to lead discovery and optimization. In 2016, HD Bio opened an expanded lab in Shanghai’s Zhangjiang Hi-Tech Park, and it has a US lab in San Diego. It completed an A venture round in 2008 led by Morningside with Lilly Asian Ventures and Pfizer Venture Investments joining. The financial details of the WuXi-HD Bio acquisition were not disclosed.

New Century Healthcare, a Beijing operator of children’s clinics/hospitals and a recently acquired women’s hospital, completed a $114 million IPO in Hong Kong (see story). The transaction was priced at the middle of the expected range. The company operates three pediatric clinics in Beijing along with a women’s hospital that provides obstetric and gynecological services. It will use the proceeds to expand in Beijing and other tier one China cities. 

Tencent (HK: 0700), the China internet giant, led a $55 million Series D funding in Practo, an Indian mobile healthcare site (see story). In August 2015, Tencent led Practo’s $90 Series C round. Through WeChat, Tencent’s market-dominating all-purpose app, Tencent also offers O2O healthcare services, and it is using its China experience to help Practo develop a full platform of healthcare services in India, including health insurance. Practo says the new capital will help expand its platform and take it to markets in other developing countries. 

Shijiazhuang Yiling Pharma (SHZ: 2603) invested $20 million in HealthWatch, an Israeli company that developed a T-shirt-like wearable monitoring device (see story). Sensors are woven into the fabric and communicate with a pickup device for real-time monitoring. $15 million of the total will be invested into HealthWatch, giving Yiling a 23% stake in the company, and $5 million will pay for China rights to the wearable device. Yiling is known primarily as a TCM company. 

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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