VC-backed Anaphore bolts on China's RuiYi

The acquirer recently received the $15 million second tranche of its $38 million Series A funding announced in January 2009. Apposite Capital, SR One, Merck Serono Ventures and Aravis also subscribed to the round.

Shanghai-based RuiYi is focused on the discovery and development of biologic therapies targeting G protein coupled receptors (GPCRs). It was founded by science professor Raymond Stevens - who joins the new parent company's board - and Fei Xu.

"The acquisition of RuiYi in China allows Anaphore to access the substantial scientific expertise, capital and potential new collaboration opportunities in the Chinese pharmaceutical marketplace," said Anaphore President and CEO Paul A. Grayson. "RuiYi also provides Anaphore a wholly foreign-owned enterprise (WFOE) in Pudong Shanghai, a necessity for conducting business in China, and establishes relationships with all of RuiYi's current collaborators."

Anaphore is engaged in developing protein pharmaceuticals to address unmet medical needs of patients with serious diseases.

Another Chinese biologics business received investment from private equity late last year. Warburg Pincus upped its stake in human plasma collection company China Biologic Products, which manufactures products for treating rabies, hepatitis B and tetanus.

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• Topics
• Greater China
• Healthcare
• Early-stage
• Venture
• healthcare
• Warburg Pincus Asia
• China