China’s CF PharmTech raises $90m Series E

CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Xiangcheng Financial Holdings, and Everest Venture Capital came in as new investors. Existing backers Oriza Holdings, Longmen Venture Capital, GTJA Investment, and CMB International also participated.

It follows a $65 million Series D in 2017 led by SDIC Fund Management, a GP under China’s State Development & Investment Corporation. Previous investors also include iRise Capital, WIM Asset Management, Xinding Capital, Yuanming Capital, Beijing Galaxy Luckystar Venture Capital, GP Capital, Rich Yield Capital, and Cowin Capital.

CF PharmTech is considered a leader in the respiratory healthcare technology development niche. The company has established a pipeline of about 20 products targeting China and global markets since inception in 2007. These encompass a range of inhalers and nasal sprays, including a dry powder inhaler used for asthma, bronchitis, and emphysema, as well as a device called a nebulizer, which can be used to treat cystic fibrosis.

“Respiratory treatments and inhaled medications, in particular, are promising because of the high technological barriers to entry and immense potential for growth,” Lei Cai, an executive director at New Alliance, said in a statement. “CF PharmTech has worked meticulously to build strong technological platforms that support the development of a comprehensive range of products. The integrity and professionalism of the core team at CF PharmTech impressed us deeply."

Founded in 2008, New Alliance claims RMB10 billion ($1.4 billion) in assets under management across six funds. The firm invests primarily in China, although it is also active in Israel via a dedicated cross-border fund. Focus sectors include healthcare and technology, media and telecommunications. Recent activity in the medical technology space includes leading a $45 million Series A last year for China’s Thousand Oaks Biopharmaceuticals, a research and manufacturing services provider.

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• Topics
• Greater China
• Healthcare
• Expansion
• China
• GTJA Investment Group
• manufacturing