(Yicai Global) July 3 -- Cellular immunotherapy is one weapon that may help humans whack tumors in the 21st century.
A boom in research into cellular immunotherapy and development and application of relevant products underway globally is goading domestic firms to also get in on the action.
Nanjing-based Sanpower Group Co. struck an agreement in January with world-famous biomedical company Valeant Pharmaceuticals International Inc. [NYSE:VRX] to buy lock, stock and barrel Dendreon Pharmaceuticals LLC, a US biomedical firm Valeant owns. The cross-border acquisition has reached it consummation, Sanpower said June 29, as The Paper reported July 1. This means a Chinese company will own the intellectual property rights and production and application technologies of Dendreon's core product, Provenge, which is the first and only US Food and Drug Administration-approved cellular immunotherapy for prostate cancer. It is also the only cellular immunotherapy that a Chinese enterprise has acquired overseas.
"Sanpower will continue to help Provenge expand in the US and EU markets after the deal closes," a Sanpower representative said. "We will also introduce the product to China so that Chinese people will have access to world-advanced cellular immunotherapy as soon as possible. It will provide reference for Chinese authorities to improve and optimize cellular immunotherapy review system."