Week in Review: Harbin Pharma Invests $300 Million in US-based GNC; Forms China JV

Deals and Financings

• Harbin Pharma will invest $300 million in GNC Holdings, a US nutritional supplement company, and form a JV for China manufacture and sales;
• Oncologie, a Boston-Shanghai biopharma, in-licensed China rights to an immuno-oncology candidate from Mologen of Berlin in a $126 million agreement;
• NovaBay® Pharma, a US anti-microbial company, received $6 million in a private placement from OP Financial of Hong Kong;
• Lee's Pharm of Hong Kong in-licensed Greater China rights to an investigational anticoagulant being developed by Korea's GC Pharma;

Trials and Approvals

• Hutchison China MediTech (Chi-Med) completed patient enrollment in a China Phase III trial of fruquintinib in patients with non-small cell lung cancer;

Industry Insights

• Jonathan J. Wang, PhD, Senior Managing Director of OrbiMed Asia, discusses China's life science landscape -- huge growth and lingering weaknesses; 
• China’s Nanjing Legend has a CAR-T candidate with stellar efficacy and a $350 million global deal with Janssen; its parent, GeneScript, is now worth $5 billion; another 339 CAR-T candidates are in development in the US and China.

Stock Symbols: (NYSE: GNC) (F: MGN) (NYSE American: NBY) (HK: 01140) (AIM/NSDQ: HCM) (HK: 1548)

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