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

20 October 2016 (Last Updated October 20th, 2016 18:30)

Chinese pharmaceutical company Chengdu Kanghong Pharmaceutical Group plans to increase its stake in a pharmaceutical unit in Chengdu for a consideration of $10.8 million.

Chinese pharmaceutical company Chengdu Kanghong Pharmaceutical Group plans to increase its stake in a pharmaceutical unit in Chengdu for a consideration of $10.8 million.

The company already holds a 93% stake in the target company, while the proposed acquisition will increase the same to 100%.

"The company already holds a 93% stake in the target company, while the proposed acquisition will increase the same to 100%."

In another proposal by a Chinese company, Cachet Pharmaceutical, a majority stake of 51% is intended to be acquired in a pharmaceutical company based in Xi'an, China.

The deal value is proposed to be ¥18 million ($2.67 million).

US-based Antegrin Therapeutics and Cascadia Therapeutics have announced the completion of their merger.

The merged entity, named Indalo Therapeutics, aims to develop treatments for fibrotic diseases.