Shanghai’s SARI will pay $359 million to acquire a 90% interest in Group NMS, a Milan oncology biopharma (see story). SARI is a biopharma investment firm affiliated with the Chinese Academy of Science research organization with the same name. SARI intends to bring NMS oncology drug candidates to China and integrate the features of the NMS development technology into its own. For the NMS transaction, SARI was the leading investor in a specific fund formed to acquire NMS. It was joined by Hicin Pharma, V-capital and FeiDong Investment.

Shanghai Henlius Biotech boosted its cash level by selling 55.4 million shares to bring in $192.5 million (see story). Shanghai Henlius, a joint venture formed by Henlius Biotech and Shanghai Fosun Pharma (SHA: 600196; HK: 2196) in 2009, is developing a portfolio of biosimilars, bio-betters and novel biotech drugs. Fosun contributed $50 million to the fundraising, giving it a 62% majority stake in Shanghai Henlius after the offering. Henlius says it has submitted eight INDs to the CFDA with thirteen indications. Its two lead drugs have started Phase III trials.  

LP Pharma (Xiamen) raised $30 million in a B round led by state-owned SDIC Fund Management (see story). LP focuses on developing drugs with mucosa/oral controlled delivery technology. The company, formed in 2012 by returnees, initially worked on two treatments, one for AIDS and the other an unspecified cancer indication. Joining the B round were CMB International Capital and Zhangzhou PienTzeHuang Pharma (SHA: 600436).

Wenzhou Kangning Hospital (HK: 2120) plans a $30 million China IPO to expand its private psychiatric hospital offerings (see story). The company owns three hospitals, all in Zhejiang province, and provides psychiatric services in other hospitals. Two years ago, Kangning, which has a $406 million market capitalization, staged an $88 million IPO on the Hong Kong exchange.