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OrbiMed commits $15m to China's GC-Rise Pharma

  • Christie Ou
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OrbiMed has committed $15 million in Series B funding to GC-Rise Pharmaceutical, a Chinese healthcare services provider.

The company previously received $4.74 million in Series A funding from Inventages Ventures Capital GmBH in 2008. As part of the latest round, Dr. Jonathan Wang, co-founder and senior managing director at OrbiMed Asia, will join the GC-Rise board.

GC-Rise, founded in 2008, focuses on healthcare for women and children. It positions itself as a partner for drug makers looking to access the China market, assisting on government policy interpretation and public affairs management, local registration, running clinical trials, and pricing, brand-building and distribution.

The company has a 500-strong sales force covering over 1,000 hospitals in China's major cities and distributes products to 10,000 drug stores. The new capital will be used to strengthen commercialization capabilities, expand the product portfolio and help develop an online-to-offline (O2O) platform.

"[OrbiMed's] world-class healthcare expertise and experience will help us broaden our product offering and enhance our product pipeline, better fulfill the large unmet market needs and strengthen global partnerships," said Wren Zhang, CEO of GC-Rise.

OrbiMed is one of the world's largest healthcare and life sciences investors with $11 billion in assets under management.

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