TVM Capital Life Science Initiates Investment Operations of China BioPharma Capital I Venture Capital Fund

TVM Capital Life Science has achieved the first closing of China BioPharma Capital I at US $50 Million. China BioPharma Capital I is a venture capital fund with subscription from Chongqing Lummy Pharmaceutical Co., Ltd. a pharmaceutical company based in Chongqing, China, which develops, manufactures and markets pharmaceuticals and health care products. Lummy went public in 2009 on the Shenzhen Stock Market. Lummy operates six fully owned subsidiaries and employs more than 2000 people with a strong focus on pharmaceutical innovation.

Dr Qiu Yu, Chairman & President of Lummy commented: “The Chinese pharmaceutical markets have experienced rapid growth over many years now. General health awareness is on the rise resulting from sustainable overall economic growth combined with an ageing society. The Chinese pharmaceutical market is becoming larger accordingly. Our mission is to provide this vibrant market with innovative, exciting, effective drugs and technology to improve human health. We believe that continuous innovation is the only route to company growth. Currently, innovations in pharmaceutical and medical technologies are mostly originated in North America and Western Europe. With our commitment to China BioPharma Capital I LP, we strive to introduce the world’s top medical services and medical technologies to the Chinese market, leveraging our understanding of the Chinese pharmaceutical markets and our innovative operating model.”

China BioPharma Capital I will focus on investments in life science innovation in Western companies with the objective to obtain licenses for development and commercialization in China. The fund will capitalize on the substantial global footprint of TVM Capital Life Science which invests into biopharmaceutical innovation from their seventh fund generation in Europe, the US and Canada and looks back on a successful 30 years track record in financing healthcare innovation.

Dr Hubert Birner, Managing Partner of TVM Capital Life Science says: “This new fund is an exciting opportunity to expand our reach into China and to leverage the unique deal flow and deal making capability of our Venture Capital teams in Munich and Montreal. We are very happy to welcome Mirko who will lead our efforts in China and we expect our investment team dedicated to China to grow substantially in the near future.”

Dr Mirko Scherer is an experienced biotechnology executive and has led numerous financing and M&A transactions, in both public and private markets, in Europe and the US over 15 years. Dr Scherer co-founded GPC Biotech AG in 1997 a former TVM Capital Life Science portfolio firm and served as its CFO over a decade. Mirko Scherer comments on the fund’s objectives: “The China BioPharma Capital I fund provides great opportunities to bridge the gap between the West and the East in the healthcare industry. The China BioPharma Capital I fund provides an ideal vehicle to combine the expertise and the network of TVM Capital Life Science in the West with the development, regulatory and sales/marketing acumen of our Chinese partner Lummy. We are looking forward to bringing many products and technologies to the Greater China area together with our strategic investor Lummy.“