Sanofi has signed an agreement with Beactica to extend a master services agreement signed in 2015.

The new agreement will enable both companies to further collaborate on the assessment of interactions between new therapeutics and their target proteins.

The collaboration had previously contributed to the regulatory approval of Sanofi’s Lispro insulin biosimilar drug.

Based in France, Sanofi is a pharmaceutical company, while Beactica is a drug discovery company based in Sweden.

Alibaba Group plans to divest Tmall Pharmacy’s healthcare assets to its Hong Kong-based subsidiary Alibaba Health Information Technology for HK$10.6bn ($1.35bn).

Tmall Pharmacy’s healthcare assets include medical devices and healthcare products, adult products, and medical and healthcare services.

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The transaction is expected to increase Alibaba Group’s interest in Alibaba Health from 48.1% to 56.2%.

Based in China, Alibaba Group is an e-commerce company, while Tmall Pharmacy, also based in China, is a business-to-consumer online platform.

The transaction is expected to enable the merchants of Tmall Pharmacy to build contacts with various participants in the healthcare ecosystem and improve customer retention.

“Alibaba Group plans to divest Tmall Pharmacy’s healthcare assets to its Hong Kong-based subsidiary Alibaba Health Information Technology for HK$10.6bn ($1.35bn).”

US-based pharmaceutical company Amneal Pharmaceuticals has entered a licence and supply agreement with mAbxience for the latter’s Avastin biosimilar product bevacizumab.

mAbxience will be responsible for the clinical development and manufacturing of bevacizumab, while Amneal will lead regulatory approval as part of the agreement.

Amneal will retain exclusive commercialisation rights for bevacizumab in the US.

Daiichi Sankyo has established the Immune-mediated Inflammatory Diseases Consortium to carry out research for the discovery of new medicines for intractable immune-mediated inflammatory diseases.

The research and discovery studies will be carried out for a period of five years.

Members of the consortium include Keio University, Ono Pharmaceutical, the National Institutes of Biomedical Innovation, Health and Nutrition and Mitsubishi Tanabe Pharma.

The new partnership is aimed at addressing the challenges associated with drug discovery.

UK-based life sciences company OptiBiotix Health has raised £1.5m ($1.72m) through a public offering of 2.4 million shares priced at £0.62 ($0.711) a share.

The funds raised from the offering will be used towards the development of a drug based on the company’s cholesterol and blood pressure reducing strain.