Taxus Cardium Generx drug development gets amped up investment

A promising angiogenic gene therapy candidate in development for nearly two decades has drawn in further investment from China-based Shenzhen Qianhai Taxus Industry Capital Management, picking up a 15% stake in Angionetics, a newly formed subsidiary of Taxus Cardium Pharmaceuticals Group.

Shenzhen Qianhai, affiliated with Shanghai-based Shanxi Taxus Pharmaceuticals that bought a majority stake in Taxus Cardium last year, aims to help in development of Generx (alferminogene tadenovec [Ad5FGF-4]) to potentially reach more markets.

- here is the Taxus Cardium release and the earlier release on Dr. Reddy's deal