SHANGHAI--(BUSINESS WIRE)--Frontline BioVentures, a premier healthcare venture capital firm based in China, announced today that it has led a Series A round of financing for Sino Health, an invested company of Sinopharm.
"We are very pleased to have this partnership with Sinopharm. This investment demonstrates our capability to partner with leaders in the China healthcare industry who have the potential to develop, manufacture, and bring to market game-changing products and technologies."
Frontline BioVentures will provide Sino Health a rich pipeline of innovative products and cutting edge technologies through its network and portfolio companies while also providing seasoned investment expertise. Sinopharm will remain a key shareholder of Sino Health and continue to provide Sino Health with access to its distribution networks covering thousands of hospitals across China.
"We look forward to supporting Sino Health as we work closely with its current shareholders to build a premier platform in the healthcare industry in China," said Dr. Leon Chen, the Managing Partner of Frontline BioVentures. "We are very pleased to have this partnership with Sinopharm. This investment demonstrates our capability to partner with leaders in the China healthcare industry who have the potential to develop, manufacture, and bring to market game-changing products and technologies."
About Frontline BioVentures
Frontline BioVentures is a China-based premier venture capital firm specializing in investments in innovative life science companies. It focuses on business within strategic life science and technology areas promoted by Chinese government. Frontline BioVentures is managed by a team of life science investment professionals with proven track records both internationally and domestically. The team has extensive experience in nurturing and scaling successful venture start-ups and is intimately familiar with the landscape of pharmaceutical, biotech/medtech and other life science industry in the country. Frontline BioVentures is currently managing a portfolio of 13 companies including Innovent, Hua Medicine, BioKangtai, Yikon Genomics, Jiecheng Medical, and Neusoft Medical. About Frontline BioVentures: www.frontlinebioventures.com.
Sinopharm is the largest Chinese medical and healthcare group directly managed by State-owned Assets Supervision and Administration Commission of the State Council (SASAC), with the most complete industrial chain coverage and strongest comprehensive competence in China. Its core business includes distribution, retail, scientific research and manufacture of healthcare-related products, and it owns 11 wholly-owned or holding subsidiaries and 6 listed companies. In 2014, Sinopharm's sales revenue exceeded RMB 200 billion (US$ 30 billion), and it became the first Chinese pharmaceutical company to be listed in Fortune Global 500. About Sinopharm: www.sinopharmholding.com.