China Medical Systems in Greater China deal with Finland's Faron on respiratory candidate

China Medical Systems Holding has licensed Greater China rights to develop and commercialize Finland's Faron Pharmaceuticals' Traumakine (FP-1201), a recombinant human interferon (IFN) beta-1a to treat severe and acute respiratory distress syndrome. Faron plans a Phase III trial in Europe of the candidate this year. Faron has also received an €5 million ($5.7 million) equity investment from Hong Kong-based investment firm A&B Ltd., owned by CMS Chairman and CEO Kong Lam. CMS's Huaizheng Peng joined Faron's board. Faron said A&B will pay development costs for the compound in China, Taiwan, Macau and Hong Kong. Release (PDF)