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Cellular Biomedicine Group (CBMG), a China-based regenerative medicine company, will conduct a reverse merger with EastBridge Investment Group (OTC:EBIG) (see story). EastBridge is a US entity that helps companies (usually from China or other Asia-Pacific countries) go public. CBMG is testing progenitor and dendritic cell therapies as treatments for a wide variety of diseases, including cancer and osteoarthritis. Both of CMBG's facilities are in China, and its products are aimed at the China market.

Guangzhou BeBetter Medicine Technology has signed a collaborative research agreement with Taiwan's PharmaEngine (TWO: 4162) to develop new chemical entities that address predefined oncology targets. BeBetter will own China rights to any discoveries, while PharmaEngine will be able to market the products in the rest of the world. BeBetter will undertake discovery of optimized NCEs for IND-enabling studies. PharmaEngine will be responsible for their development and commercialization.

Tianjin KingYork Group Co. and Innovata HK Limited of Hong Kong have gotten together to form a JV, which will be located in Tianjin Economic-Technological Development Area. The new company, which will be known as Tianjin Kinnovata Pharmaceutical Company Limited, will produce powder inhalation drugs for asthma and COPD. The JV has been funded with 60 million RMB ($9.6 million) initially. Over the longer term, the partners plan to invest 1.2 billion RMB ($190 million) in the project.

Sichuan Kelun Pharma (SHE: 002422) will spend $135 million to purchase a 12.3% stake in Lijun International Pharma (HK: 2005). Both companies are involved in the IV drug market inChina, though Lijun's primary focus is on antibiotics, particularly macrolides. Lijun, which listed on theHong Kong exchange in 2005, became involved with IV products by buying Shijiazhuang No.4 Pharma in 2007. Kelun will acquire 360 million shares from two of Lijun's major shareholders.

Disclosure: none.

Source: China Biotech In Review: Cellular Biomedicine To Reverse Merger In U.S.