With the aim of growing its neurodegenerative diseases business, Zhejiang Jingxin Pharmaceutical has reached an agreement to acquire up to 5% stake in Israeli-based Pharma Two B.
The Chinese company will pay a purchase consideration of $5m to the target company, as part of the transaction.
The target company develops treatment for Parkinson's disease and cancer, while the acquirer company is a Chinese pharmaceutical company.
Israeli biopharmaceutical company BioLineRx has completed the acquisition of Agalimmune and its technology platform, with the aim of enhancing its position in the immuno-oncology space.
The UK-based target company, which develops anti-cancer immunotherapy products, has received $6m in purchase consideration for the transaction, including $3m in cash and the remaining in the acquirer company’s shares.
The target company is also entitled for future development and commercial milestone-based payments.