BeiGene is a Beijing-based biotech startup that focuses on oncology drugs. The company has attracted a large investment from pharma giant Merck, along with an agreement that should allow BeiGene to raise money from other pharmas and investors as well.
Pfizer is also active in the China market, committing to purchase a $50 million stake in Shanghai Pharmaceutical’s upcoming Hong Kong IPO. Pfizer is one of four companies to participate in the offering which is expected to raise up to $2.2 billion. Sinocom Pharmaceutical, a distributor of pharma products to third and fourth tier cities in Central-Eastern China, will also IPO on Nasdaq Global Market exchange. The company will offer 15.8 million shares, and hopes to raise as much as $57.5 million in the offering. California oncology company Crown BioScience has labs in Beijing and Taicang City. It has raised $28.2 million to expand services in its core cancer drug discovery operations.