GIC makes another bet on Chinese pharma

Singapore’s state fund leads $85 million funding for Harbour BioMed, marking its third investment in the Chinese pharmaceutical space in four months.

Singapore’s sovereign wealth fund GIC Private has led an $85 million financing round for Chinese pharmaceutical startup Harbour BioMed, extending its long streak of private equity investment in China so far this year.

GIC Private was joined by China Life Private Equity Investment and Vertex Ventures in the series B round of financing, the young pharmaceutical startup said in a statement on Monday.

Taiwanese technology company AdvanTech and Legend Capital, the venture capital arm of Chinese conglomerate Legend Holdings, also invested in the current round. They invested $50 million in the company’s series A funding round when it was founded in December 2016....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222