The Pharma Partners (“TPP”) Announces Strategic Alliance With Suzhou BioBAY, LenoMed Corporation, Legend Capital, and Legend Star in the Development of MedTech Commercialization Center and Investment Fund
SUZHOU, CHINA–(Marketwired – June 10, 2015) – The Pharma Partners (“TPP”) today announced that it has entered into a strategic alliance with Suzhou BioBAY, LenoMed Corporation, Legend Capital, and Legend Star to develop a MedTech commercialization center.
The commercialization center is established to invest in highly innovative North American and European healthcare companies in addition to funding the commercialization of their innovative technologies and products for the Chinese market. Besides the option of investment into the North American and European companies, all investments will include the creation of new China ventures, owned together by the companies and Chinese investors, and will hold IP as well as rights for R&D, marketing, and manufacturing for the Chinese market. The center will also provide assistance to the China ventures for all aspects of registration and commercialization in China, including R&D, clinical studies, CFDA registration, and manufacturing.
Tony Chu, Co-Founder and Managing Partner of TPP, stated, “The opportunity to bring together Suzhou BioBAY and LenoMed, along with the subscription of Legend Capital and Legend Star, will enable TPP to provide a complete package for North American and European companies seeking both investment and a path to success in the fast-growing Chinese market. The alliance will integrate the capabilities and objectives of all five entities, leveraging each organization’s extensive network and resources.”
The alliance will focus on early and growth stage companies with the potential to be market leaders in China. Dr. James Han, CEO of LenoMed, commented, “The alliance will review each North American and European company from TPP’s network to explore the truly innovative or disruptive technologies. The goal is to support China’s mission to become healthier by providing access to better medical tools and technologies, while simultaneously establishing a successful business in China. LenoMed serves as a vehicle to support foreign companies and strategic partners in carrying out their businesses or projects in China.”
The creation of the alliance provides an all-new opportunity to integrate North American and European companies into BioBAY’s infrastructure in Suzhou. Junyong Pang, CEO of Suzhou BioBAY, explained, “We look forward to assisting these companies by providing them with the vast scientific and business platforms that our tenants currently enjoy. BioBAY is the ideal environment for these companies in initiating a successful path within China.” BioBAY maintains a wide range of features, including a project incubator, accelerator, industrialization area, administrative office, and living facilities, making it one of the most successful life science parks in China.
“China is a challenging market for North American and European companies to engage,” noted Asa Cox, Co-Founder and Managing Partner of TPP. “Many know of its huge demand for high-tech products and its accessible financial resources to commercialize cutting-edge technologies, yet they have no idea where to begin. This alliance will help promising companies overcome the issue of limited venture capital funding in the US, while offering the opportunity to tap into a massive new market.”
About The Pharma Partners: The Pharma Partners (“TPP”) is an advisory firm that functions to capture the macroeconomic shift of China’s market interest in healthcare innovation by serving as a bridge between healthcare companies and investors from China and groundbreaking and innovative products and technologies from North America and Europe. Specializing in cross-border deal flow, TPP provides North American and European companies the access to capital, manufacturing, marketing, and distribution in China. With an experienced team of well-connected industry veterans from all over the world, TPP maintains the background, credentials, and understanding to execute and support transactions involving pharmaceuticals, medical devices, diagnostics, and therapeutics.
About LenoMed Corporation: Founded in 2014, LenoMed is a Chinese medical device platform company co-invested by Legend Capital and Legend Star to undertake technology transfer from overseas licensing or cross border investments and to provide services including product registration at CFDA, business management, marketing & sales, investment and joint venture arrangement, merger and acquisition. LenoMed currently focuses on the diabetes, cardiovascular and neuro-stimulation areas.
About Legend Capital: The core business of Legend Capital is early-stage Venture Capital and expansion-stage Growth Capital investment. Legend Capital is now managing six USD funds and three RMB funds, with AUM over RMB20 billion, and focuses on innovation and growth enterprises with operations in China or related to China. By the end of 2014, Legend Capital had invested in over 200 companies, of which 30 are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange, GEM and ChiNext of Shenzhen Stock Exchange, and another 19 companies achieved exit through M&A. Legend Capital has an investment team with over 50 professionals, including 23 partners. With the vision of “becoming one of the most valuable and most respected investment companies with international influence” and through driving the innovation and growth of business enterprises through capital and management support, Legend Capital plays an active role in promoting industry advancement and social development, and strives for creating dream business and sharing success with partners of shared vision and goals.
About Legend Star: Legend Star was founded in 2008 as an incubator project and designed to capture opportunities for startup technology companies. Legend Star aims to assist in funding, training, recruiting, and providing other resources used to promote startup companies, their concepts, and their technologies. In addition, Legend Star has also the longest history in running an exclusive, invite-only entrepreneurial training course for the CEOs of startups and growth stage Chinese companies.
Legend Star CEO Club
About Suzhou BioBAY: BioBAY is located in Dushu Lake Higher Education Town of Suzhou Industrial Park (SIP). Suzhou Industrial Park (SIP), the most important cooperation program between China and Singapore, is committed to building a globally competitive high-tech industrial park. More than 400 high-tech innovative companies covering drug discovery, medical devices (including IVD), biotech, CRO and nanotech have been located in BioBAY, as well as Cold Spring Harbor Asia Conference Center, and 8000 scientists and professionals have come to join this dynamic innovative community.