Week In Review: China's Luxin Invests In $215 Million Funding For Intarcia's Long-Term Diabetes …

Week In Review: China’s Luxin Invests In 5 Million Funding For Intarcia’s Long-Term Diabetes …

Deals and Financings Luxin Venture Capital (SHA: 600783) of Shandong Province participated in the first closing of the latest funding round for Boston’s Intarcia Therapeutics. Intarcia is developing a novel delivery device for type 2 diabetes, the Medici Drug Delivery System™. The initial close raised $215 million. Intarcia anticipates a much larger close in Q4. Intarcia has completed three Phase III trials of its matchstick-sized implantable device that metes out a year-long supply of exenatide, a glucagon-like peptide-1 (GLP-1) receptor agonist. Aspen Pharmacare, a South African generic drugmaker, paid GlaxoSmithKline (NYSE:GSK) $60 million for rights to sell two thrombosis drugs in China, India and Pakistan. Aspen originally acquired rights in most countries to the drugs – Fraxiparine and Arixtra – three years ago. The latest rights deal came in addition…


Link to Full Article: Week In Review: China’s Luxin Invests In 5 Million Funding For Intarcia’s Long-Term Diabetes …