As China biotech booms, Fidelity group rolls out $250M fund with a big focus on drug R&D
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.
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