Healthcare
Creador exits Indian pharma player to ChrysCapital
Creador has completed a third exit – with a 3.7x multiple and a 32% IRR – from its third South and Southeast Asia-focused fund, selling a minority position in Indian pharmaceutical company Corona Remedies to ChrysCapital.
L Catterton invests $182m in Japanese healthcare business
L Catterton has invested JPY20 billion ($182 million) in PHC Holdings Corporation, a Japanese healthcare business – formerly known as Panasonic Healthcare – backed by KKR.
Unison makes two Japan healthcare acquisitions
Japan’s Unison Capital has confirmed two local healthcare deals in the space of a week with pharmacy chain Reliance and outpatient nursing provider N Field.
MSPEA, Sihuan Pharma sell China hospital
Morgan Stanley Private Equity Asia (MSPEA) and Sihuan Pharmaceuticals have agreed to sell their 80% stake in China’s Huaiyin Hospital for RMB882.8 million ($134.3 million).
Portfolio: GL Capital & SciClone Pharmaceuticals
GL Capital has helped China’s SciClone Pharmaceuticals position itself for the future while continuing to monetize its key legacy drug. A Hong Kong listing was the reward
VMS leads $190m round for China CDMO player Chime
VMS Group, a Hong Kong-based asset manager, has led a $190 million extended Series A round of funding for Chime Biologics, a Chinese contract development and manufacturing organization (CDMO).
Gulf Capital invests $30m in India healthcare push
Abu Dhabi-based Gulf Capital has committed $30 million to a plan that will see its global fertility services platform launch 18 clinics in India over the next 12 months.
PE topples advisory as China Renaissance's key business
Fund management has become China Renaissance’s largest source of revenue, seven years after the firm – best known for providing private placement and M&A advisory services to Chinese internet companies – entered the private equity business.
Hony launches China healthcare, consumer SPAC
Hony Capital has joined a string of Chinese private equity managers with special purpose acquisition vehicles (SPACs), targeting $300 million for healthcare and consumer deals.
Invesco leads $155m round for China's Brii Biosciences
Invesco has led a $155 million Series C round for China-focused infectious diseases drug developer Brii Biosciences.
CMB, Mirae lead Series C for China biotech player EpimAb
Shanghai-based EpimAb Biotherapeutics has raised $120 million in Series C funding led by CMB International and Korea’s Mirae Asset Financial Group.
China drug development outsourcer raises $70m
Zhenge Biotech – a Shanghai-based contract development and manufacturing organization (CDMO) for large molecule drugs – has raised $70 million in Series B funding led by Qiming Venture Partners and IDG Capital.
China's Connect Biopharma gains 8% on debut after $191m US IPO
Connect Biopharma, a China-headquartered drug developer specializing in treatments for T cell-driven inflammatory diseases, gained 8.8% on debut following a $191.3 million US IPO.
Quadria backs Indonesia's Hermina Hospitals
Singapore’s Quadria Capital has paid an undisclosed sum for a minority stake in Hermina Hospitals, one of the largest hospital chains in Indonesia.
Sojitz backs Malaysia's PE-owned Qualitas Medical
Japanese conglomerate Sojitz has taken an equity interest in Qualitas Medical, a diversified Malaysia-based healthcare services provider owned by Southern Capital Group.
China biotech makes Asia global healthcare PE leader
A more than 100% year-on-year increase in deal volume saw Asia Pacific overtake North America to become the most active global private equity healthcare market for the first time in 2020.
CITIC Capital rebrands as Trustar, backs Swiss medtech business
CITIC Capital Partners, a private equity firm part-owned by Chinese conglomerate CITIC Group, has rebranded as Trustar Capital.
GL joins $61m Series C for China’s Thousand Oaks
GL Ventures - a VC unit of Hillhouse Capital - and China State-Owned Capital Venture Investment Fund have led a RMB400 million ($61 million) Series C round for Thousand Oaks Biopharmaceuticals, a China-based contract development and manufacturing organization...
Loyal Valley leads Series B for China vision therapy start-up
China-based eye disorder specialist Arctic Vision has raised a $100 million Series B round led by Loyal Valley Capital. Tencent Holdings, Octagon Capital, and New World Development CEO Adrian Cheng also participated.
Korea biotech start-up gets $44.5m pre-IPO round
Korea’s Standigm, which provides artificial intelligence (AI) systems to biotech operators, has raised a $44.5 billion pre-IPO round led by SKS Private Equity and Daishin Privat Equity.
Addor raises $241m for second China healthcare fund
Addor Capital – a Chinese VC firm backed by Jiangsu High-Tech Investment Group, also known as Govtor Capital – has raised RMB1.56 billion ($241 million) for its second renminbi-denominated healthcare fund.
PE-backed SciClone achieves $1.6b market cap on HK re-listing
SciClone Pharmaceuticals, a Chinese drug developer privatized by a PE consortium at a valuation of $605 million in 2017, has relisted in Hong Kong and ended its first day of trading with a market capitalization of HK$12.7 billion ($1.64 billion).
Baring Asia to make $1.1b partial exit from Lumenis
Baring Private Equity Asia has agreed to sell the surgical devices business of Lumenis, an Israel-headquartered company that counts Asia as its largest market, to Boston Scientific for $1.07 billion in cash.
VCs commit $50m to China's Medilink Therapeutics
Suzhou Medilink Therapeutics, a Chinese biotech company specializing in antibody-drug conjugates (ADCs) commonly used as targeted therapies for treating cancer, has raised $50 million in Series A funding across two tranches.