Chasing China

While Nan Fung Life Sciences had planned to establish a longer track record in biotech investments before launching its first China-focused fund, the group accelerated its plans to capitalize on the growing Chinese biotech industry. On Thursday, Nan Fung subsidiary Pivotal China announced its inaugural $150 million fund, which will invest in Chinese biotechs with in-licensed portfolios.

Real estate conglomerate Nan Fung Group began investing in life sciences via Nan Fung Life Sciences about three years ago, according to COO Vincent Cheung. He said initially the group made a handful of direct investments in biotechs and became LPs in established healthcare venture funds by firms including Arch Venture Partners, OrbiMed Advisors, venBio, Vivo Capital and Biomatics Capital Partners...