Lorus Therapeutics Inc. (LRP)

Wall Street Analyst Forum

Lorus Therapeutics Inc. (LRP)

The US FDA will soon establish an office in China, according to an article in Genetic Engineering News. Our own “boots on the ground” Editorial Editor, Greg Scott, took exception to the skeptical tone of the article, pointing out, among other things, that it is usually wrong to underestimate China. China National Pharmaceutical Group (Sinopharm) and CITIC Pharma are rumored to be planning IPOs; dermatology company Profex announced the closing of a $15.5 million Series A funding; Beijing Beilu Pharma raised 66.6 million RMB ($9.7 million) by issuing 12.5 million shares to seven investors; Biomics Biotechnologies (Nantong) Co. closed a Series B funding of 34 million RMB ($5 million); China Botanic Development Holdings (HKEX: 2349) paid 23.6 million RMB ($3.4 million) to purchase all of Guangdong Kangli Pharma; Venturepharm Group (HKSE: 8225) continued to expand its web of collaborations by establishing a relationship with Lorus Therapeutics (AMEX: LRP); Decision Resources predicted that the market for hepatitis B drugs in China will grow 135% by 2012 to $800 million; and Beijing SL Pharma (SZSE: 002038) received SFDA approval to produce a hepatitis drug and a second SFDA authorization to begin clinical trials of a drug for male infertility.  More details...

Venturepharm Group has established a collaboration with Canadian biotech Lorus Therapeutics to develop Lorus’ portfolio of cancer drugs. Lorus has eight molecules in its pipeline. Venturepharm also announced that it has absorbed Acesys Pharmatech, a Nanjing global drug discovery CRO with about 70 chemists, into its China-located Exelgen operation. More details...

Stock Symbols: (AMEX: LRP) (HKSE: 8225) (NSDQ: CBTE)