Isotechnika shares surge on China development pact

Highlighting the emerging role of China's drug developers, Canada's Isotechnika Pharma has inked a development pact with 3SBio, earning a $6 million payment and a bump in its share price. 3SBio is paying $1.5 million upfront and making a $4.5 million investment in Isotechnika in exchange for the Chinese autoimmune and transplant-related development rights to voclosporin. Isotechnika shares jumped 42 percent on the news, but only topped out at about 30 cents. The developer has been...