Shanghai Acebright Buys 10% in Israel based Nasvax

Acebright Holdings Ltd. will invest $1 million in NasVax for a 10% stake in the company. NasVax is developing two novel drugs, an immunotherapy and a treatment for Alzheimer's.  Shanghai Acebright, a subsidiary of Acebright holdings, produces treatments for cancer and autoimmune diseases, may also participate in future NasVax offering

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Shanghai Pharma hikes stake in Chiatai Qingchunaboa Pharma

Shanghai Pharmaceuticals paid 444 million RMB ($72 million) to purchase an additional 20% stake in Chiatai Qingchunbao Pharmaceutical Co., a Hangzhou maker of TCM preparations and western chemical drugs. The 20% equity increases Shanghai Pharma’s holdings from 55% to 75%.

Shanghai Pharma manufactures and markets a broad range of pharmaceutical products, spanning chemical drugs, modern Chinese medicines, biopharmaceutical products and other pharmaceutical products, including approximately 70.0% of the drugs on the National List of Essential Drugs.Shanghai Pharma is the third largest pharmaceutical company and the second largest distributor of pharmaceutical products in the PRC in terms of revenue in 2009. The company is listing in Shanghai Stock Exchange (Code: 601607). The company's revenue and net profit in 2010 is RMB37,381.6 million and RMB1,368.3 million, respectively

GSK to acquire five million shares in Response Genetics for US$1.10 per share in cash

GlaxoSmithKline plc (LSE: GSK) today announces that it has acquired five million newly issued shares of Response Genetics Inc. (RGI) (NASDAQ: RGDX) common stock at a purchase price of US$1.10 per share in cash. As a result, GSK now owns approximately 15.2% of the expanded share capital of RGI.

RGI performs companion diagnostic tests and other related activities for GSK’s immunotherapies and oncology pipeline candidates.