Last week in China biotech, the flood of quarterly earnings reports slowed from the previous week’s frenetic pace, and normal business news – financings, JV agreements, new products – moved to fill in the space. From our perhaps biased view here at ChinaBio® Today, one of the most significant announcements last week came from our sister organization, ChinaBio® Accelerator, which announced it will hold the ChinaBio® Partnering Forum on June 3 and 4, 2009 in Shanghai (see story). The event, the first partnering forum focused on China life science technology to be held in China, will bring together more than 300 attendees seeking partnership deals. Universities, institutes and companies from throughout China, representing nearly 100 novel technologies, will have the opportunity to meet potential partners. The potential partners will include nearly all the major pharma companies, many of China’s own pharma, biotech and medical device companies, 50+ VCs, and many others interested in licensing or commercializing novel technologies. The two-day forum will feature one-on-one partnering meetings, technology presentations by China-based researchers and biotech companies, big pharma discussions of their “wish lists,” executive workshops and exhibits.

In funding news, Chiral Quest Corporation raised $13 million in a Series B financing from China-based venture capitalists, including KPCB China (Kleiner Perkins Caufield & Byers), China Spring Fund, JAIC (Japan Asia Investment Co.), and returning investor Infinity i-China (see story). Chiral Quest offers its chiral expertise to biopharmas, developing manufacturing processes for drug candidates. In December 2007, Chiral Quest was voted the “Most Promising Company” in the Services sector at the ChinaBio® Investor Forum, held in Shanghai. With the new funds, Chiral Quest will build a cGMP pilot plant and process R&D center at BioBay in Suzhou Industrial Park.

GlaxoSmithKline (NYSE: GSK) and Shenzhen Neptunus Interlong Bio-Technique Co. Ltd. (NIBT), an established vaccine manufacturer in China, will work together to develop flu vaccines for the China market (see story). The two companies have signed a formal Cooperation Agreement that will lead to the formation of a JV company with $78 million of assets, if certain undisclosed conditions are met. GSK contributes its vaccine adjuvant technology and expertise in vaccine development to the venture. NIBT adds local experience, both with China’s vaccine market and access to local flu antigens.

BMP Sunstone Corporation (NSDQ: BJGP) has agreed to acquire rights to the Runchang capsule, a liquid-filled hard capsule (LFHC), used to treat constipation (see story). BMP Sunstone purchased the product from Darentang Pharmaceutical, a subsidiary of Tianjin Zhongxin Pharmaceutical Group Corporation (SSE: 600329).