BioCentury
ARTICLE | Finance

Location, location, biotech

Why Chinese investor Xuechao Wang made the move from real estate to biotech

August 17, 2018 8:30 PM UTC

Chinese real estate investor Xuechao Wang placed a bet on a domestic cancer start up 16 years ago, which helped pave the way for the country’s first homegrown targeted cancer therapy. Now, market growth in China driven by increased access to healthcare has him more convinced than ever that a strategic shift to pharmaceuticals is a smart one.

Wang is the major shareholder in Jihe Group Co. Ltd., a Hangzhou investment firm that owns six real estate agencies and has developed and sold 3 million square meters of housing...