SHANGHAI — British bio-generic pharmaceutical company Genemedix has completed the purchase of China’ s Shanghai Dongxin Biotechnology Co. for approximately $17.5 million.

Shanghai Dondgxin Biotechnology is a major bio-tech facility that makes recombinant human GM-CSF, a treatment for patients will low white blood cell count induced by chemotherapy. The company also has the capacity to produce other products now being developed by Genemedix. The facility is located in the Pudong district of Shanghai.

Genemedix has four products – GM-CSF, alpha-interferon, erythropoietin and epidermal growth factor – currently undergoing process validation or late-stage development, and officials hope all four products will be on the market over the next four years.

“Genemedix is quite sought-after as the lowest cost-producer of bio-pharmaceutical products in Asia and having captured Shanghai Dongxin, it is well poised to tap the big China market,” said Steven Ong, managing director of biotech venture capitalist Internet Technology Asia Ventures, a leading investor of Genemedix.

Company officials are also studying the establishment of other manufacturing facilities.

–Jeff VanPelt