Pivotal bioVenture Partners China (Pivotal China), a member of Nan Fung Life Sciences announced the closing of Pivotal bioVenture Partners China USD Fund I, raising US$150 million to incubate and build life sciences companies in China.
Pivotal China will focus on in-licensing innovative products and technologies of target companies that could serve unmet medical needs of the growing China market. Pivotal China will invest broadly in pharmaceuticals, devices and service sectors, the company said.
"China is catching up in healthcare innovation," said Dr. Jimmy Wei, managing partner of Pivotal bioVenture Partners China. "By creating new companies with entrepreneurs and global partners, Pivotal China fund intends to bring global technologies to China quickly and efficiently. The vision of Pivotal China is to create a life sciences ecosystem to generate synergies among portfolio companies and foster the innovations in China."
Nan Fung Group is a Hong Kong conglomerate with global interests in real estate development and investment, life sciences and financial investments. Nan Fung Life Sciences, is a global investment platform focusing on life sciences. Nan Fung Life Sciences has a presence in both the US and Greater China through direct investments via Pivotal bioVenture Partners funds (both in US and China) and fund investments covering full spectrum of the industry and across different development stages.
Nan Fung Life Sciences’S U.S. fund Pivotal bioVenture Partners is a US$300 million life sciences venture capital fund established in 2017. It invests in privately held North American and European companies focused on innovative therapeutic products and platforms.
Pivotal China was founded by Vincent Cheung, who is the Chairman of NFLS and managing director and chief operating officier of Nan Fung Group.