ZAI Lab Limited, a novel drug development company located in Shanghai, broke out of stealth mode by announcing a major deal: the company has obtained global rights for two novel compounds from Sanofi (NYSE:SNY), both of which are potential treatments for chronic respiratory diseases. ZAI is led by Dr. Samantha Du, who founded the company and serves as CEO. For ten years, Dr. Du was CEO of Hutchinson MediPharma, one of China's very first innovative drug development companies. Since 2012, Dr. Du has been a Venture Partner at Sequoia Capital China.
Miraculins, a Canadian diagnostics company, finalized an agreement for China distribution of its Scout DS® Non-Invasive Diabetes Screening Device. The device will be imported by Catalyn Medical Technologies Limited, a privately-owned Hong Kong company, and distributed by Cachet Pharma (SHE: 002462) of China. Cachet agreed to buy $90 million of the device over the five-year life