Ex-CEO at China Biologic spearheads $3.9B buyout offer; Syneos acquires Kinapse, adding 600 staffers
→ Just weeks after Beijing-based China Biologic $CBPO booted its chairman and CEO David Gao “for cause,” the executive has bounced back at the head of a prominent consortium looking to buy the company in a $3.9 billion all-cash bid.
Gao’s group — which includes GL Capital Group, Bank of China Group Investment Limited and CDH Investments — is bidding $118 a share for the company. That is well ahead of the $3.65 billion offer on the table from CITIC Capital.
The stock is up about 11% on the news this morning.
→ Syneos Health has acquired Kinapse, a group of life science consultants with some 600 staffers and offices in the US, UK and India. Kinapse has been building its business advising biopharma companies on the way they develop and commercialize new therapies.
→ A startup called RDMD has raised $3 million in seed cash to develop a new business that gathers up data for drug developers to use in advancing new therapies in exchange for an app that consumers can use to keep track of their electronic medical records and seek second opinions.