3SBio forms venture arm

Chinese biotech 3SBio Inc. (NASDAQ:SSRX) said it formed a venture partnership with Taizhou Oriental CMC Ltd. to make life science investments that support 3SBio's strategic interests. 3SBio, which did not disclose what types investments it would focus on, has five marketed products in the areas of oncology, nephrology and hematology, with a focus on biologics.

3SBio and Taizhou Oriental initially committed RMB200 million ($31.3 million) and RMB50 million ($7.8 million), respectively, to the eight-year fund, which will be called 3SBio Ventures. Taizhou Oriental is the investment arm of Taizhou China Medical City Co., a national industrial park supported by the Chinese government. ...