Chinese artificial intelligence chip maker Cambricon Technologies Corp Ltd. has raised a series B round worth several hundreds of millions of U.S. dollars led by SDIC Venture Capital, a subsidiary of state-owned investment holding group China Reform Holdings Corp Ltd, China State-owned Capital Venture Investment Fund and its sub-fund Guoxin Qidi Fund.
Hyperchain Technologies Co., Ltd announced that it has raised a series B round of RMB1.5 billion (US$ 233.7 million) from Shanghai-listed Xinhu Zhongbao Co., Ltd., China SDIC Gaoxin Industrial Investment Corp., Ltd, and others, according to Chinese media reports.
China’s internet giant trio Alibaba Group Holding, Tencent Holdings Ltd, and Baidu Inc, known as the BAT, have joined some prominent state-owned investors to pick up stakes in Foxconn Industrial Internet Co.’s RMB27.1 billion (US$4.3 billion) initial public offering.
Chinese artificial intelligence chip maker Cambricon Technologies Corp Ltd has unveiled two new products, a cloud-based smart chip Cambricon MLU100 and a new version of its AI processor IP product Cambricon 1M, at a launching event in Shanghai on May 3rd.
Capital Group Private Markets, a unit of U.S. investment firm Capital Group Companies, has led a US$150 million round in Chinese biotech firm Innovent Biologics, Inc.
CMB International Capital Corporation Ltd, a wholly-owned subsidiary of China Merchants Bank, has led a RMB410 million (US$65 million) series C round in Beijing Biocytogen Co., Ltd., a gene targeted animal model and service supplier.
China has announced tariffs of up to 25% on 128 U.S. imports worth US$3 billion, in retaliation to U.S. duties on steel and aluminium, further escalating the ongoing Sino-U.S. trade war.
The U.S. Securities and Exchange Commission ("SEC") decision to block a Chinese-led investor group from buying the Chicago Stock Exchange ends a two-year campaign to turn the small , 136-year old exchange into a venue for international IPOs. It also marks the latest in a string of blocked deals involving Chinese companies trying to buy major U.S. assets.
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
Ant Financial Services Group and MoneyGram announced that they have mutually agree to terminate their merger deal after both companies failed to obtain the required approval from the Committee on Foreign Investment in the United States (CFIUS)
China Money Network’s DealShot provides detailed information on venture capital and private equity deals in China on a daily basis. Here you can find out where Chinese investors have been investing their money in at around 5pm each workday.
In a sign of increasing scrutiny on Chinese acquisitions in the U.S., a Chinese buyer said it is refiling its applications to a U.S. foreign deal oversight body in order to add mitigation measures to secure U.S. government approval.
SDIC Venture Capital Management, a subsidiary of State Development & Investment Corp (SDIC), has led a new funding round worth up to RMB507 million (US$76 million) in Zensun (Shanghai) Sci & Tech Co., Ltd., a biopharmaceutical company listed on the ChiNext board in Shenzhen.
China’s artificial intelligence chip maker Cambricon Technologies Corporation Ltd. aims to have one billion smart devices using its AI processor and own 30% of China’s high-performance AI chip market in three years, the company said at its first product launch in Beijing on Monday.
Chinese investors overseas just can’t seem to get a break. First, the Chinese government strengthened its grip on overseas deals to slow capital outflows. Now, the U.S. government under president Donald Trump appears more protectionist than ever, blocking a growing list of Chinese investments in the U.S. in the name of protecting American business and security interests.
SDIC Fund Management Company Ltd., a private equity firm majority owned by China’s State Development & Investment Corporation (SDIC), as well as an investment arm under China Life Insurance Co., Ltd., have led a RMB3.3 billion (US$500 million) series A round in Shanghai United Imaging Healthcare, a medical imaging equipment developer.
SDIC Fund Management Company Ltd., a private equity firm majority owned by China’s State Development & Investment Corporation (SDIC), has led a RMB440 million (US$66 million) series D round in CF PharmaTech Inc., a Chinese company developing drugs to treat respiratory diseases.
SDIC Chuangye Investment Management, a subsidiary of State Development & Investment Corp, has led a US$100 million series A round in Cambricon Technologies Co., Ltd., an artificial intelligence chip developer.
SkyGuard, a Beijing-based Internet security technology company, has raised a RMB150 million (US$24 million) series A round from 360 Enterprise Security Group, China Growth Capital and Guotou Chuangye, a venture capital unit of the State Development & Investment Corp (SDIC).
SDIC Fund Management Co., Ltd., a RMB50 billion (US$7.4 billion)-under-management private equity unit majority owned by China’s State Development & Investment Corporation (SDIC), has agreed to acquire 19.9% of U.S. energy storage and power delivery solution provider Maxwell Technologies, Inc. for approximately US$46.6 million in cash. SDIC Fund, which has significant investments in China’s energy storage industry, including top battery makers, new-energy market system integrators and OEMs in the China automobile and power grid industries, has agreed to purchase shares …
An advanced manufacture industrial investment fund under China’s SDIC Fund Management Co. has led a RMB270 million (US$39 million) series B round in Suzhou Ribo Life Science Co. Ltd, a small interfering RNA (siRNA) drug developer.
A fund under China’s SDIC Fund Management Co. has led a RMB500 million (US$72 million) series B funding round in Ascentage Pharma, a Jiangsu province-based biopharmaceutical company dedicated to the discovery of targeted small-molecule cancer therapeutics.
Novogene Corporation, a Chinese genomics and bioinformatics firm backed by CMB International Capital Management and the State Development & Investment Corporation (SDIC), has jointly established a whole genome sequencing center in Singapore by partnering with two institutions in the city-state.
China Merchants Bank’s CMB International Capital Management, a unit of State Development & Investment Corporation (SDIC) and Sigma Square Capital have invested RMB515 million (US$75 million) in a series B funding round in Beijing-based Novogene Technology, a commercial genomic services provider.
– Capital Will Accelerate Expansion of Company’s Pipeline and Manufacturing Capacity of Innovative Therapeutic Biologics –
SHANGHAI, Nov. 29, 2016 /PRNewswire/ — Innovent Biologics, Inc., a leading biopharmaceutical company in China dedicated to the discovery, development manufacturing, and commercialization of high-quality biologics, announced today that it has raised $260 million in its Series D financing.
Future Industry Investment Fund (FIIF), a private equity fund managed by SDIC Fund Management Corporation Limited (SDIC Fund Management), a subsidiary of State Development & Investment Corporation, led the financing, along with other blue chip investors including China Life Private Equity Limited, Milestone, Ping An and Taikang Insurance Group. Innovent’s existing international investors, specifically Legend Capital, Temasek and Hillhouse Capital, also participated in this financing.
The funding will accelerate Innovent’s continued development of its robust pipeline of biologic therapeutics, several of which have entered clinical evaluation. Since its founding in August 2011, Innovent has built a robust portfolio of 12 product candidates for cancer, autoimmune disorders, ophthalmology and cardiovascular diseases. Innovent has filed eight IND applications and has four products in clinical development, three of which are currently in phase 3 clinical trials. Innovent’s achievements with its pipeline demonstrate the execution of the company’s strategy to rapidly bring innovative biologics to patients in China, a market still underserved by the therapeutic advances attained by biologic drugs worldwide.
Michael Yu, Ph.D., Innovent Biologics co-founder, Chairman and CEO, stated, "With the support from our investors and the Chinese government, Innovent has made significant progress in developing our portfolio of high-quality innovative products, building cGMP global-standard manufacturing and establishing global partnerships. We are gratified that our achievements have been recognized by a group of leading investors including SDIC Fund Management, China Life, Milestone, Ping An, Taikang Insurance Group and others. This financing will enable Innovent to better leverage the emerging opportunity in China to quickly develop affordable and high-quality biologic products to treat Chinese patients."
Simon Dazhong Lu, Managing Director of SDIC Fund Management, commented, "The Chinese biotechnology industry is in a golden period of rapid development, and Innovent is leading the way as the premier Chinese biologics company. We have conducted comprehensive due diligence on Innovent’s pipeline, drug development capability, product quality and manufacturing facilities, and believe that Innovent has huge potential and is expected to become a top-tier global biopharmaceutical company. We are pleased to invest and work with this elite team."
This Series D financing exceeded China’s previous record for reported biopharmaceutical industry investment and is one of the largest biopharmaceutical industry fundraising events in the world for both private and public financing markets in 2016. The financing will primarily support the accelerated development of innovative biopharmaceutical products, the expansion of manufacturing capacity and continued operations under rigorous cGMP requirements. Through this Series D round, Innovent has gained significant financial support from respected domestic and international investors as it advances the development of China’s biopharmaceutical industry as a whole.
About Innovent Biologics, Inc.
Founded in August 2011, Innovent aims to produce quality complex biopharmaceutical products that will be affordable to people in China and around the world. With its focus on innovation and global cGMP standards, Innovent stands out in China’s biopharmaceutical industry and has attracted investments from world-class financial firms such as SDIC Fund Management, China Life, Ping An, Taikang Insurance Group, Legend Capital, Temasek, Fidelity, Lilly Asia Ventures and others. In 2015, Innovent entered a strategic alliance with Eli Lilly & Company to co-develop and co-commercialize multiple innovative biologics in China, while outside of China Lilly develops and commercializes multiple immuno-oncology biologics within the alliance.
About SDIC Fund Management Corporation Limited
Established in July 2009, SDIC Fund Management Corporation Limited is an independent, professional private equity company. It currently manages and advises more than RMB 50 billion of capital for a wide range of institutional investors including financial institutions, social security funds, and state-owned and private capital. SDIC Fund Management Corporation Limited is one of the largest professional private equity fund managers in China.
For more information, please visit www.innoventbio.com
Contacts:
For partnering inquiries:
Blake Salisbury, VP of Business Development
[email protected];
For financing inquiries:
Jinbo Wang, VP of Finance
[email protected];
Investor and Media Contacts:
Tiberend Strategic Advisors, Inc.
Investors – Joshua Drumm, Ph.D.
+1-212-375-2664
[email protected]
Media – Andrew Mielach
+1-212-375-2694
[email protected]
A fund managed by Chinese state-owned investment entity State Development & Investment Corporation (SDIC) has led a US$260 million series D funding round in Chinese biopharmaceutical company Innovent Biologics, according to Chinese media reports.
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China’s State-owned Assets Supervision and Administration Commission of the State Council (SASAC) has proposed to establish State Capital Investment Companies (SCICs), in a move that signals a step forward for state-owned enterprise (SOE) reform.
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