Nuance Biotech, a China-based specialty pharmaceutical company, today announced series B fundraising of US$20 million with additional capital US$15 million tied to its acquisition of new products, led by C-Bridge Capital, a private equity firm focused on Chinese healthcare market.
Shanghai-based Nuance Biotech was co-founded by Shao Yibo, a managing partner at Matrix Partners China and also co-founder of parenting community Babytree, and Mark Lotter, an industry veteran who built the commercial operations for multinational pharmaceutical firm AstraZeneca in China, in 2014.
The firm focuses on commercial, regulatory and development stage assets. It has built a portfolio that includes products that are already commercialized or in registration with the China Food and Drug Administration, along with a pipeline of drug candidates in clinical development.
“This investment represents a unique funding model for building a best-in-class pharmaceutical business in China,” said Fu Wei, CEO of C-Bridge Capital. “Nuance’s proven ability to move products through registration to the market along with its large sales organization and robust sales effectiveness system make it an excellent partner for commercializing innovative pharmaceutical products in China.”
With the investment, Neo Zhang, managing director of C-Bridge Capital, will join the board of Nuance.
In May 2017, the firm received US$8 million series A round from Matrix Partners China.
Shanghai-headquartered C-Bridge Capital focuses on middle and late-stage growth and buyout investment opportunities in China, including the pharmaceutical, medical technology and healthcare services sub-sectors. It has US$1.5 billion asset under management.
Source: China Money Network
