RRJ Capital invests $50m in Chinese biotech firm - source

The news came from market sources, while a Triplex spokesman declined to comment.

The Xiamen-based company manufactures products used to detect and diagnose hepatitis B and C and certain cancers from blood and tissue samples.

China's pharmaceutical sector has been enjoying rapid growth. On the demand side, rising disposable incomes driven by urbanization and an aging population have spurred healthcare expenditure. In terms of supply, waves of Chinese scientists who studied aboard are also returning home as Beijing ramps up funding and incentives for R&D.

Deloitte expects the country's life sciences and healthcare market to become the second-largest in the world within a decade. Biotech output, meanwhile, is on course to reach RMB4 trillion ($630 billion), 90% of which will come from biopharma.

Private equity and venture capital investment in pharma and biotech reached $953 million last year, up 31.6% from 2010, according to AVCJ Research. This equates to 3.3% of total China spending within the asset class. Investor appetite remains steady in 2012, with $620 million committed to eight deals in the first six months.

Recent transactions involving drug developers include: CVC's purchase of a 14% stake in Venturepharm Group for $105 million; CDH Investment, CITIC Private Equity and New Horizon Capital's secondary buyout of MBK Partners' interest in Luye Pharma in March; and PAG Asia injection of $250 million into Bicon Pharmaceutical in February.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Healthcare
• Greater China
• Early-stage
• Venture
• RRJ Capital
• China
• healthcare
• Growth capital