HONG KONG – Xuanzhu (Shijiazhuang) Biopharmaceutical Co. Ltd., Beijing-based Sihuan Pharmaceutical Holdings Group Ltd.’s innovative drug R&D platform, has secured ¥800 million (US$117.2 million) in series A funding from the State Development and Investment Corp. (SDIC). CMG-SDIC Capital Co. Ltd. (CMG-SDIC) invested the entire ¥800 million, giving SDIC an 18.6% equity interest in the platform, a company spokesperson told BioWorld.

PERTH, Australia – Australia’s biopharma sector fared better than the country at large at the end of the financial year that ended June 30, as the country saw GDP fall 7% in the final quarter, the largest drop since 1959. Australia’s trading relationship with China helped the country sidestep the global financial recession of 2008, but the recent divide between the U.S. and China is also putting a wedge between Australia and China relations.

Photonicare Inc., which has developed the Tomi Scope for noninvasive imaging of the middle ear, has attracted the attention of investors. It has reported an oversubscribed $5.2 million series A financing led by I2e Management Co. Inc., with OSF Ventures, Sony Innovation Fund and Dreampact Ventures also participating.

Lixte Biotechnology Holdings Inc., a small OTC-listed company developing inhibitors of protein phosphatases to be used alone and in combination with cytotoxic agents and/or x-ray and immune checkpoint blockers for treating cancer, has filed to raise $10.7 million in a public offering of shares on Nasdaq.