M&As this week: Chengdu Kanghong Pharmaceutical, Cachet Pharmaceutical, Antegrin Therapeutics

Chinese pharmaceutical company Chengdu Kanghong Pharmaceutical Group has announced its intention to acquire the remaining 7% stake in a pharmaceutical unit based in Chengdu, China.

The deal is valued at ¥72.9 million ($10.8 million) and will increase the acquirer company’s stake in the target company to 100%.

Chinese company Cachet Pharmaceutical has announced its intention for a ¥18 million ($2.67 million) acquisition of a 51% stake in another Chinese pharmaceutical company based in Xi'an.

Antegrin Therapeutics has announced that it has completed a merger with Cascadia Therapeutics to form a new biotechnology company named Indalo Therapeutics, which will be run by consolidated management teams from the two companies.

The new entity will focus on developing therapies aimed at treating fibrotic diseases, which represent a huge unmet medical need.

Both companies involved in the merger are based in the US.