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)