HitGen Hits China Drug Discovery Jackpot With MNC Tie-ups
Wei Chen, head of R&D for Chengdu-based venture HitGen, talks to Scrip’s Brian Yang on how the Chinese startup is partnering with multinationals and is aiming to speed up new drug development in China through its own platform and a novel HDAC inhibitor for liver cancer.
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Finance Watch: Pfizer Ventures' Dalton Makes Sense Of Neuroscience Focus Within New $600m VC Fund Commitment
Venture Capital Edition: Pfizer deprioritized neuroscience as an early R&D focus earlier this year, but will stay involved by spending 25% of the $600m added to its venture fund on neurology investments. Also, China VC investment keeps up fast pace and Alta Partners closes a new $130m health care fund.
WuXi Biologics and Harbin Gloria will get $18.5m up front for the Phase I asset GLS-010. Also, Cerecor divests depression drug to Janssen for up to $45m and Perrigo sells its API division for $110m in cash.
With the threat of potentially hefty fines, China's newly passed Biosecurity Law will fundamentally change how the life science sector handles human genetic resources over years to come, legal experts say.