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Boyu Capital Acquires Hong Kong Medical Device Company Quasar for Over $600 Million
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Boyu Capital, according to a Bloomberg report, is set to acquire Quasar, a Hong Kong-based medical device company. The acquisition deal is valued at over USD 600 million, reflecting Quasar’s current market capitalization. The transaction is anticipated to close imminently, with the support of Quasar’s extensive healthcare clients globally. Quasar’s…
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Novartis Q2 2023 Results Exceed Expectations with 9% YOY Sales Growth
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Swiss pharmaceutical major Novartis AG (NYSE: NVS) has reported its financial results for the second quarter of 2023, with both sales and profits surpassing analyst forecasts. Net sales for the quarter reached USD 13.622 billion, marking a 9% year-on-year (YOY) increase in constant currency terms. Core net income also saw…
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Shanghai Pharmaceuticals and Mindray Form Strategic Alliance for Medical Equipment and IVD Products
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Shanghai Pharmaceuticals (SHA: 601607, HKG: 2607), a leading pharmaceutical company in China, has announced a long-term partnership with fellow Chinese medical device firm Mindray (SHE: 300760). The collaboration will focus on medical equipment, medical consumables, and in vitro diagnostic (IVD) products. The two companies plan to integrate their existing resources…
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MindRank Ltd Secures Over $20 Million in Series A+ Funding to Advance AI Drug Development
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China-based artificial intelligence (AI)-enabled drug developer MindRank Ltd has reportedly secured more than USD 20 million in a Series A+ financing round. Cherami Investment led the investment, which will be utilized to enhance drug development efforts and to upgrade and commercialize the company’s AI drug development platform. Upgrading the AI…
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Zhejiang Dian Diagnostics Partners with Northeast Infectious Diseases Alliance to Enhance Surveillance
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Zhejiang Dian Diagnostics Co., Ltd (SHE: 300244), a leading diagnostics specialist based in China, has entered into a strategic partnership with the Northeast Infectious Diseases Alliance. The collaboration aims to establish a standardized three-level monitoring system for infectious diseases, enhancing the capabilities of central monitoring hospitals and bolstering the region’s…
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Novartis Acquires DTx Pharma and Its FALCON Technology for Up to $1 Billion
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Swiss pharmaceutical giant Novartis (NYSE: NVS) has announced the acquisition of DTx Pharma Inc., a preclinical stage biotech company jointly incubated by Viva Biotech Holdings (HKG: 1873). The transaction includes a USD 500 million upfront payment and potential additional payments of up to USD 500 million upon the achievement of…
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Allen Institute for Immunology Partners with Eli Lilly to Study Atopic Dermatitis and Rheumatoid Arthritis
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The US-based Allen Institute for Immunology has announced a strategic partnership with compatriot company Eli Lilly (NYSE: LLY) to delve into the research of disease state diversity and drug response-predicting biomarkers, specifically focusing on atopic dermatitis and rheumatoid arthritis (RA). This collaboration represents the first industry partnership for the immune-related…
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Pfizer and Flagship Pioneering Invest $100 Million in Drug Candidates Development
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Global pharmaceutical giant Pfizer (NYSE: PFE) and venture capital firm Flagship Pioneering have this week announced a joint commitment to invest USD 50 million each into the development of 10 drug candidates. Pfizer retains the option to acquire these candidates, while Flagship stands to collect up to USD 700 million…
