SDIC leads $65m round for China's CF PharmTech
SDIC Fund Management, a GP under China’s State Development & Investment Corporation, has led a $65 million Series D round of funding for CF PharmTech, a Chinese manufacturer of inhalers and nasal sprays.
Several unnamed Chinese healthcare investment groups also took part in the round. SDIC participated through its Future Industry Investment Fund, which focuses on advanced manufacturing technologies.
Headquartered in Suzhou, CF PharmTech aims to provide quality and cost-effective inhalation products for the domestic market as well as seeking strategic partnerships to co-develop and commercialize its products globally. The company was founded by a team of healthcare professionals with industry experience in the US.
"Drug delivery via the pulmonary route bears significant technical challenges and it takes extraordinary effort to bring inhalation products to the market. CF PharmTech's high caliber team has proved their ability to attract top industry talents to develop inhalation products for the global market,” said Hai Lu, a managing director at SDIC.
The GP manages and advises more than RMB50 billion ($7.2 billion) of capital for a wide range of investors, including State Development & Investment Corporation, National Social Security Fund (NSSF), financial institutions, state-owned enterprises and private-held corporates.
It is a frequent investor in the healthcare space, having backed pharmaceutical companies such as Innovent Biologics, Ascentage Pharma Group, Suzhou Ribo Life Science, and CanSino Biologics.
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