Jiangsu Hengrui Medicine out-licensed global rights (ex-China) for its clinical-stage anti-PD-1 monoclonal antibody to Incyte in a deal potentially worth $795 million. Incyte paid $25 million upfront. Hengrui's SHR-1210 is expected to start a China Phase II trial in patients with solid tumor cancers in the next few months. Hengrui will retain rights in mainland China, Hong Kong, Macau and Taiwan. Incyte, headquartered in Delaware, described the relationship as a combination of licensing and collaboration.
After a short eighteen months as a publicly owned company, iKang Healthcare is considering a go-private offer from a group led by its Founder/Chairman/CEO. iKang, headquartered in Beijing, operates private preventative healthcare clinics throughout China. The company raised $153 million in an IPO on the NASDAQ exchange in April 2014. Now, Mr. Ligang Zhang, the company's CRO, together with FountainVest, a China private equity firm, proposes to take the company private at $17.80 per ADS, a modest 10.8% premium from the most recent close and a 27% increase from the $14/ADS IPO price. The offer values iKang at $1.1 billion.
Celyad SA, a Belgium cell therapy company, announced an altered China collaboration with Medisun International of Hong Kong for greater China registration and distribution of C-Cure. C-Cure is a stem cell-based treatment for ischemic heart failure that was developed by Mayo Clinic and licensed by Celyad. Medisun agreed to invest at least $22 million to register the treatment in China. The agreement was originally announced one year ago; now, the two entities have altered its terms.