Eight Roads Ventures has finished mapping plans for a new, $250 million fund that is reserving a big chunk of cash for China’s booming biotech sector.
Therapeutics will qualify for about 40% of that money, as the group’s venture architects also hunt down new plays on digital health, medtech and healthcare services. Eight Roads is an investment arm of Fidelity International.
Eight Roads has been operating for more than 20 years, but its venture partners are gambling on a new wave of drug R&D in the country after the Chinese government revamped the rules of the game for local players and cleared hurdles in the way of new drug approvals.
“We’re about to witness an explosion of innovative drugs in China,” Liu Weimin, a partner at Eight Roads, told Deal Street Asia.
We’re clearly seeing a surge of new investments in China, but also a lot more money is coming from China and headed into US biopharma. This is either a flash in the pan, as we’ve seen when other countries temporarily embraced biotech, or a sea change that will see a new industry take shape around one of the world’s biggest, fastest growing economies.
The most experienced investors are betting on a sea change.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 32,400+ biopharma pros who read Endpoints News by email every day.Free Subscription