CBC Group - AffaMed and Innovent Win AVCJ Awards

Nov  2019

AffaMed Therapeutics was winner of “ Deal of the Year – Small Cap” and Innovent Biologics was the winner of “Exit of the Year – IPO”

Dear valued partners and friends,

We are delighted to announce that two of CBC Group’s portfolio companies were recognized for their excellence at the prestigious AVCJ Asian Private Equity and Venture Capital Awards 2019 in Hong Kong on November 11th.AffaMed Therapeutics (Fund IV portfolio company) was winner of “ Deal of the Year –  Small Cap”  and Innovent Biologics (Fund I portfolio company) was the winner of “Exit of the Year –  IPO” .

These achievements are testament to CBC Group’s commitment to delivering value and results for our partners through both new investments and exiting investments. We believe that these awards solidify  CBC Group’s position as one of the clear leaders within China’s healthcare sector.

We wish to congratulate the AffaMed Therapeutics and Innovent Biologics teams for their hard work and impressive accomplishments.

AffaMed Therapeutics winner of  “ Deal of the Year - Small Cap” 

CBC Group committed $49 million in funding to AffaMed Therapeutics in January 2019. It established AffaMed to work with Samsung Bioepis on the development and commercialization of four biosimilar drug candidates in China. The investment was driven by a recognition that there is huge demand for affordable biologic drugs in China, yet most local players don’t qualify as biosimilar producers and most global players aren’t targeting China. While Samsung Bioepis provided the drug candidates, CBC leveraged its operational platform and networks to launch AffaMed and recruit staff. First of four phase three trials are due to commence in early 2020.

Innovent Biologics winner of  “Exit of the Year  –   IPO” 

CBC Group successfully exited its investment in Innovent Biologics, a Chinese cancer drug developer, realizing as 3.3x multiple on invested capital for its partners in April 2019 following a Hong Kong IPO in October 2018. It was the fourth biotech company to go public in the territory since listing rules were relaxed for pre-revenue players. The company has 17 drugs in its pipeline, of which the four most advanced are biosimilars. It had raised more than $560 million across several private funding rounds.

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