Venture import play

3SBio Inc. (NASDAQ:SSRX) is forming 3SBio Ventures, a Chinese government-supported entity that will make strategic investments in small to mid-sized U.S. life science plays. In exchange for equity, 3SBio hopes to obtain Chinese licensing rights to biologics for oncology, nephrology and inflammatory diseases.

One of the most important features of the fund, according to 3SBio EVP and COO David Chen, is its affiliation with Taizhou Oriental CMC Ltd. Taizhou Oriental is the investment arm of Taizhou China Medical City Co., a national industrial park supported by the Chinese government...