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December 1, 2017

Deals this week: Xiangxue Pharmaceutical, AstraZeneca, Vanc Pharmaceuticals

Xiangxue Pharmaceutical has raised CNY500m ($75.56m) through the second tranche of a public offering of corporate bonds.

Xiangxue Pharmaceutical has raised CNY500m ($75.56m) through the second tranche of a public offering of corporate bonds.

The company secured CNY600m ($90.23m) through the first tranche of a public offering of its corporate bonds in October.

The latest offering brings the value of total issued bonds to CNY1.2bn ($181m), which includes CNY300m ($45.3m) through a public offering and CNY200m ($30.2m) through over allotment.

AstraZeneca has partnered with Chinese Future Industry Investment Fund (FIIF) to form a joint venture (JV) named Dizal Pharmaceutical.

The JV, which will be based in China, will integrate AstraZeneca Innovation Center China’s scientific and technical capabilities with FIIF’s funding and expertise in establishing strategic partnerships.

Astrazeneca and FIIF aim to strengthen drug discovery and development for patients through the JV.

“AstraZeneca has partnered with Chinese Future Industry Investment Fund (FIIF) to form a joint venture (JV) named Dizal Pharmaceutical.”

Vanc Pharmaceuticals has raised C$0.72m ($0.56m) through a non-brokered private placement of 4.85 million units priced at C$0.15 ($0.12m) a unit.

Each unit comprises one common share of the company and one transferrable share purchase warrant, which entitles the holder to purchase one additional common share at a price of C$0.2 ($0.16) a share.

The exercise date of the warrants will expire on 27 November 2022.

Based in Canada, Vanc manufactures and distributes generic and over-the-counter (OTC) pharmaceuticals.

The company will use the funds for operational and corporate expenses, as well as close technology acquisitions.

Hemispherx Biopharma plans to raise $1.59m through a public offering of shares of its common stock.

The US-based biopharmaceutical company has appointed Maxim Group as its underwriter and Silverman Shin & Byrne as its legal advisor for the funding round.

The funds are intended to be used towards working capital and general and administrative purposes.

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