Pacgen Biopharmaceuticals (TSXV: PGA) of Vancouver, Canada signed a letter of intent to negotiate the purchase of XPhase Pharmaceuticals of Toronto. The leadership of XPhase will take over management of Pacgen. As its major asset, XPhase has a signed letter of intent for global rights (ex-China) to a new anti-anxiety chemical entity, named AF-5, discovered by the Institute of Materia Medica, Chinese Academy of Medical Science in Beijing (IMM). In China, IMM has obtained SFDA approval to begin clinical trials of AF-5 and is expected to initiate a Phase I test of the entity in early 2009. More details...

Immtech Pharmaceuticals, Inc. (IMM)

F1Q09 (Qtr End 06/30/08) Earnings Call Transcript

Last week, much of the news about China’s biomedical industry came from San Diego’s BIO Convention. We covered the “Opportunities for Collaborations and Investments" panel discussion and the pre-convention “Burrill India-China Life Sciences Meeting,” which examined the bilateral relationship between China biomedical companies and the West.
In China last week, the FDA announced it will open three offices in China; three new joint ventures were unveiled, including one between
Alpharma (NYSE: ALO)and Zhejiang Hisun Pharma (SHSE: 600267) to manufacture Vancomycin, a JV formed by Immtech (AMEX: IMM) and Beijing Capital Medical University (BCMU) to provide contract research services (CRS) in China, and a third between Cordium Links and an unnamed entity to provide cardiac safety monitoring for China clinical trials; and finally, China Sky One Medical (AMEX: CSY) received SFDA approval for an additional four products.  More detail...

Stock Symbols: (NYSE:WX) (NYSE: ALO) (AMEX: IMM) (AMEX: CSY)

Immtech Pharmaceuticals signed a Memorandum of Understanding with Beijing Capital Medical University (BCMU) to establish a joint venture that provides contract research services (CRS) in China. The joint venture will provide drug discovery services. Immtech is a newcomer to the CRS/CRO space. Its traditional focus has been on drug development. More details...

Stock Symbol: (AMEX: IMM)

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