Scientists find in a twist in how people inherit genes from mom and dad

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MSNBSC.com

Two years ago, a 24-year-old associate asked Robert Nelsen, the co-founder and managing director of ARCH Venture Partners, to plow some of the $1 billion he manages into a biotech focused on stem cells. Nelsen kicked the associate out of his office and told him to go work on something else.

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Forbes.com

on Nov 12, 2007 by ChinaBio Today

Investment in China biopharma prospered last week across a varied front. In a new story, Lilly (LLY) announced that its initiative called Lilly Asian Ventures has plans to invest $100 million in up and coming China biopharma over the next five years. Pointing out that 20% of its researchers are Chinese in origin, Lilly says the new initiative will take Lilly to the innovators, rather than asking the innovators to come to them. Earlier this year, Lilly Asian Ventures made its first investment, putting $10 million with BioVeda China, a venture capital fund seeking to place money with companies that have the potential to become large multinational biopharmas (see story).

Lilly Asian Ventures now will make direct investments in China biopharmas. It is in talks with ten China startups and expects to make announcements with some of them in the first half of 2008, according to GBInformation. Lilly Asian Ventures is an arm of Lilly Ventures, which manages more than $175 million internationally. During the past week, Lilly Ventures opened its China headquarters in Shanghai's Pudong District.

Lilly Invests $10 Million In BioVeda China VC Fund

BioVeda China Firm, a Shanghai-based venture capital firm, announced that Lilly (LLY) Asia Ventures has made a $10 million investment into the BioVeda China fund. BioVeda China is the first international venture capital fund dedicated to making life science investments in China.

BioVeda China will seek to identify companies that can become future industry leaders, transforming them into next-generation multinationals. Lilly Asia Ventures is a newly formed subsidiary of Lilly Ventures, the well-established venture capital arm of giant pharma Lilly.

BioVeda China, based in Shanghai, was originally formed in 2005. At its outset, the fund projected a final size of $30 million. The fund was looking for companies that offered late-stage opportunities with exits available in two to three years. Previous investors include IFC (the venture capital arm of the World Bank), HBM Bioventure, Temasek and Shanghai Pudong Government.

The parameters of the fund have grown dramatically since then. BioVeda reports that BioVeda China has made $120 million worth of investments in six companies. Investments include biotechnology, pharmaceuticals, biomaterials, bio-fuels, medical technologies, hospital/healthcare services, environmental products and services and agriculture products.

In its earlier funds, before becoming interested exclusively in China, BioVeda invested $30 million in 13 companies located in the U.S., China, Singapore and the UK, often with an Asian component to the investment. Many of the companies are NASDAQ-listed biotechs, such as Memory (MEMY) and Dynavax (DVAX). In the case of Memory, the investment supported the establishment of a subsidiary in Singapore. Other companies, still private, were located in Singapore (MerLion Pharma and NeuroVision) and China (NOD Pharmaceuticals).

According to a 2002/2003 survey by Venture Reporter, BioVeda was the only Asia-based member of the “Top 25” Biotech VC funds in the U.S.

For its part, Lilly is very committed to R&D in China. It has partnered with Shanghai ChemExplorer to develop chemical pharmaceuticals, and in 2005, its largest non-U.S. collection of researchers was located in China

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NYTimes.com

26/11/2007 - Sanofi-Aventis is to build a new influenza vaccine manufacturing facility in China.

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In-Pharmatechnologist.com

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Nov 21 2007, 11:51 AM EST
GSK to Acquire Reliant Pharmaceuticals for $1.65B
Addition of Lovaza will expand GSK's cardiovascular portfolio in U.S. Full Story

Nov 21 2007, 11:48 AM EST
Covance will Expand Manufacturing Operations in Virginia
Company plans to invest about $175m in new facility. Full Story

Nov 20 2007, 12:07 PM EST
Cancer's Ability to Evade Immune System Illuminated
Study, published in PNAS, found that T cells decrease the inflammatory response of macrophages. Full Story

Nov 19 2007, 11:20 AM EST
Celgene to Acquire Pharmion for $2.9B
Pharmion's oncology products further strengthens Celgene's pipeline. Full Story

Nov 19 2007, 11:56 AM EST
Dako Divests Flow Cytometry Instrumentation Business to Beckman Coulter
Transaction allows Beckman to offer a more comprehensive range of research solutions to customers. Full Story

Nov 16 2007, 12:31 PM EST
Pfizer to Procure Coley for $164M
Takeover will boost firm's commitment to discovering and advancing vaccines. Full Story

Nov 16 2007, 12:46 PM EST
Oncogene's Role in Stem Cell Differentiation Predicts Tumor Aggressiveness
Cell Stem Cell research shows that proteins that induce symmetrical division produce more immature cells, which are often the primary cell type within a cancer. Full Story

GenEngNews.com

22/11/2007 - Boehringer Ingelheim has added to its contract services with the manufacture, fill and finish capacity for drugs in prefilled syringes.

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In-Pharmatechnologist.com

22/11/2007 - The discovery of a new molecule that can act as a brake for the immune system could lead to new therapies for cancer and autoimmune diseases such as diabetes.

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DrugResearcher.com

21/11/2007 - The current state of pandemic influenza vaccine supplies and capacity is shockingly insufficient, a new report has found - less than one-fifth of needed doses would actually be available within six months of an outbreak.

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In-Pharmatechnologist.com

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Pharmaceutical Technology