Morningside leads $15m investment in China's Luqa Pharma

Luqa said in a release that the capital will be used to expand operations and commercialize its product range. The company has launched nine drugs since 2013, and plans to release three more this year.

Luqa's pharmaceutical products are primarily used for treatment of dermatological and cosmetic conditions, such as scars, skin infections, and stretch marks. The company also makes drugs for gastrointestinal disorders. Its new products come both from in house development and acquisitions.

Healthcare has attracted much attention from investors in China recently. Last month a consortium of Chinese pharmaceutical developers and PE firms agreed to buy US biotech developer Ambrx, and Taiwan-based JHL Biotech raised a $45 million Series C round from several firms. Earlier this year, Yunfeng Capital joined other investors in committing $1.6 billion to Chinese drug maker Baiyunshan.

Morningside mainly backs companies in the technology sector in China. It has made few investments in the healthcare or cosmetic area; one exception was a $20 million Series B round that it led for Chinese mobile cosmetic and skincare shopping portal Meilapp.

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• Topics
• Greater China
• Healthcare
• Early-stage
• Venture
• Expansion
• China
• healthcare
• Growth capital
• Morningside Technologies