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.“
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance