The news from China life science last week was replete with stories
about deals and investments, some of them involving sizable financial
commitments while others pooled competencies. All built on the
strengths of the respective organizations with the hope of creating
something even more significant in the future.
In a surprising
"teaser" story postdated to Monday, October 19, 2009, The California
Institute for Regenerative Medicine (CIRM) revealed it has signed an
agreement to collaborate on stem cell research with China's Ministry of
Science and Technology (see
story).
The announcement was little more than a headline, leaving details to a
more complete disclosure that will be released on Monday. CIRM has a
mandate to spend $3 billion over ten years on stem cell research,
though the money is restricted to entities that are domiciled in
California.
In a similarly preliminary announcement, ChinaSF,
the San Francisco agency in charge of building bridges between the US
city and China businesses of all sectors, has signed a Memorandum of
Understanding with China Medical City of Taizhou, Jiangsu Province.
Under the agreement, which is expected to be signed in November, China
Medical City will open an office and drug development facilities in San
Francisco's Mission Bay business development project. San Francisco
hopes that some of the 200 life science companies in China Medical City
will eventually open facilities in San Francisco as well. Greg Scott,
our Executive Editor, reports further that ChinaSF also visited
Beijing, Suzhou and Zhangjiang Hi-Tech Park in Shanghai, as he was
there for the discussions.
China Pediatric Pharmaceuticals (OTCBB:
LHSI) has completed a reverse merger, taking over the company formerly known as Lid Hair Studios International (see
story).
China Pediatric Pharma, which is headquartered in Xi'an, produces and
distributes prescription and OTC drugs for children, some of which are
western while the rest are based on TCM. The company reported $7.1
million in revenue and $1.6 million in net income for the six months of
2009.
