TVM raises $50M toward China fund

TVM Capital Life Science announced a first close of $50 million for its China BioPharma Capital I fund, which the firm plans to invest in Western companies that intend to obtain licenses to develop and commercialize pharmaceuticals in China.

The fund includes an investment from Chongqing Lummy Pharmaceutical Co. Ltd. (SZSE:300006), which TVM described as a strategic investor and partner. TVM did not respond to inquiries. ...