SHANGHAI, Dec. 14, 2015 /PRNewswire/ -- WuXi Healthcare Ventures ("WXHV") today announced the closing of its $290 millionWuXi Healthcare Ventures II, L.P., exceeding its initial target of $200 million.
The new fund builds on the successes of its predecessor fund launched in 2011, which invested in such companies as Juno Therapeutics, Agios Pharmaceuticals, Foundation Medicine, Callidus Biopharma (later acquired by Amicus Therapeutics), Novira Therapeutics, Twist Biosciences, Hua Medicine, and Adagene. WXHV now has more than $350 million under management to execute its "find in U.S. and build in China" investment strategy. It has positioned itself as a leading early-stage venture capital firm focused on cross-border opportunities in the life sciences.
"We are very pleased with our fundraising and the overwhelmingly positive market reaction to our second fund," said Wei Li, Managing Partner of the new fund. "China and the United States are the two largest and most dynamic healthcare markets in the world and countries where our firm has deep investment expertise and experience. The cross-border nature of our investment strategy and our appetite for early-stage innovation and entrepreneurship have aligned us well with the macro-trends in both countries."
"The new fund is implementing a finely tuned investment strategy at a much larger scale than the predecessor fund," said Edward Hu, CFO and CIO of WuXi PharmaTech. "We are looking forward to continuing our collaboration with peers in the investment community and entrepreneurs around the world."
"As the anchor investor and sponsor of this new fund, WuXi PharmaTech is excited about the vast opportunity ahead of us," said Dr.Ge Li, Chairman and CEO of WuXi PharmaTech. "This new fund will further advance our core mission of helping entrepreneurs in the global life sciences industry to realize their dreams of developing innovative products and services to benefit the world's patients."
About WuXi Healthcare Ventures
WuXi Healthcare Ventures is a leading cross-border venture capital firm focused in the life sciences and healthcare, with offices inShanghai and Boston. The firm has assembled a team of seasoned investors and company builders with deep roots in science, technology, and innovation. The firm's mission is to find, seed, and develop life science and healthcare businesses that can benefit the most from the firm's operational expertise, strategic support, capital, and the patience of a long-term perspective. For more information, please visit http://www.wuxiventures.com.
About WuXi PharmaTech
WuXi PharmaTech is a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides a broad and integrated portfolio of services throughout the drug and medical device R&D process. WuXi is also building a platform to provide clinical diagnostic services directly to physicians and their patients globally. WuXi PharmaTech's services are designed to assist its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. WuXi PharmaTech's operating subsidiaries are known as WuXi AppTec. For more information, please visit http://www.wuxiapptec.com.