The Week in Review: China VC Investment to Hit a New High in 2010

“In 2010, venture capital investment in China life science will reach new highs,” said Greg Scott, CEO and Founder of ChinaBio® LLC, “reaching almost $700 million; Yunnan Walvax Biotech completed its $358 million IPO on the Shenzhen ChiNext Exchange; Merck wants to occupy one of the top two spots in China’s healthcare market within seven years; China Cord Blood Corporation raised $36 million in a secondary issue; Huifeng Bio-Pharma closed a $3.9 financing for a new manufacturing plant; WuXi PharmaTech reported very impressive Q3 results; Bayer Schering and NPERC will conduct joint research on a new drug delivery system; Guilin Pharma’s malaria treatment was added to the list of WHO prequalified drugs; China Medical Tech won SFDA approval for a cancer drug assay; and MicroConstants China’s Beijing lab was accredited along ISO-17025 guidelines. Stock Symbols: (NYSE: MRK) (NYSE: CO) (OTCBB: HFGB) (NYSE: WX) (XETRA: SCH) (NSDQ: CMED)