Funds will support ongoing research & development and further business development
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Dec 08, 2020, 04:24 ET
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SHANGHAI, Dec. 8, 2020 /PRNewswire/ -- Nuance Pharma, a biopharmaceutical company engaged in creating value through China's specialty pharmaceutical markets with an established focus on iron deficiency, pain management and respiratory, today announced that it has successfully closed its Series D financing which amounted to US$181 million of funding.
The Series D financing is led by RTW Investments, LP, and GT Fund with additional support from existing investors including CBC Group, Matrix Partners China and HBM Healthcare Investments, and new investors including Konruns Pharmaceutical (603590.SH), etc.
Proceeds from the financing will be used in the ongoing research and development of Nuance's existing products and business development of potential new assets. To date, the Company has made important progress with its broad pipeline and seeks to further strengthen its presence in these key therapeutic areas.
"This is an important milestone for Nuance Pharma, which reinforces our deep industry expertise and strategic business model," said Mark Lotter, founder and CEO of Nuance. "We are well-positioned to advance the clinical development of our robust therapeutics pipeline, and we look forward to bringing in more assets to China and building a leading presence in these key therapeutic areas."
Nuance is a fully integrated pharmaceutical company engaged in creating value through China's specialty pharmaceutical markets, with an established focus on iron deficiency, pain management and respiratory. Nuance is founded in 2014 and has received multiple rounds of financing from leading investors which include the CBC Group (formerly C-Bridge Capital), one of the largest and most active healthcare-dedicated investment firms in Asia, and Matrix Partners China.
About CBC Group
CBC Group (formerly C-Bridge Capital) is one of the largest and most active healthcare-dedicated investment firms in Asia focused on platform-building and buyout opportunities across three core areas within the healthcare sector: pharmaceutical & biotech, medtech and healthcare services. CBC's operationally intensive approach empowers healthcare sector champions to make transformative changes to enable sustainable long-term growth, fulfill unmet medical needs and continuously improve the standard of living and quality of care in China and the rest of Asia. Founded in 2014, CBC has a strong team of investment, healthcare and portfolio management professionals based across Singapore, Shanghai, Beijing, Hong Kong and New York.
About RTW Investments, LP
RTW Investments, LP ("RTW") is a New York-based, global, full life-cycle investment firm that focuses on identifying transformational and disruptive innovations in biopharmaceutical and medical technologies. As a leading partner of industry and academia, RTW combines deep scientific expertise with a solution-oriented investment approach to support emerging medical therapies and the companies and/or academics developing them.
About GT Fund
Zhejiang Manufacturing Fund LLP as part of Guoxin Guotong Fund LLP (collectively "GT Fund") is a private equity fund incorporated in Hangzhou, China, in 2017 with total size of CNY 10 billion (c.US$1.4 billion). It has the mandate to provide capital and professional support to industrial partners in the region. GT Fund specializes in cross-border investment projects following the principles of market-orientation, professionalism and internationalization and is actively investing in the field of healthcare, advanced manufacturing, clean energy, etc. GT Fund's portfolio of investments seeks to provide superior risk-adjusted returns to its co-investors as well as limited partners. Guoxin Guotong Fund LLP is a private equity fund established in 2016 with total size of CNY 150 billion (c.US$21.1 billion).
SOURCE Nuance Pharma