TVM Capital Life Science to open new office in Hong Kong with Dr. Mirko Scherer as Managing Partner
Munich/Hong Kong, 13. April 2015: TVM Capital Life Science announced today that it has achieved the first closing of China BioPharma Capital I at US $50 Million. China BioPharma Capital I is a venture capital fund with subscription from Chongqing Lummy Pharmaceutical Co., Ltd. a pharmaceutical company based in Chongqing, China, which develops, manufactures and markets pharmaceuticals and health care products. Lummy went public in 2009 on the Shenzhen Stock Market (Code: 300006). Lummy operates six fully owned subsidiaries and employs more than 2000 people with a strong focus on pharmaceutical innovation.
Dr. Qiu Yu, Chairman & President of Lummy comments: “The Chinese pharmaceutical markets have experienced rapid growth over many years now. General health awareness is on the rise resulting from sustainable overall economic growth combined with an aging society. The Chinese pharmaceutical market is becoming larger accordingly. Our mission is to provide this vibrant market with innovative, exciting, effective drugs and technology to improve human health. We believe that continuous innovation is the only route to company growth. Currently, innovations in pharmaceutical and medical technologies are mostly originated in North America and Western Europe. With our commitment to China BioPharma Capital I LP, we strive to introduce the world’s top medical services and medical technologies to the Chinese market, leveraging our understanding of the Chinese pharmaceutical markets and our innovative operating model.”
China BioPharma Capital I will focus on investments in life science innovation in Western companies with the objective to obtain licenses for development and commercialization in China. The fund will capitalize on the substantial global footprint of TVM Capital Life Science which invests into biopharmaceutical innovation from their seventh fund generation in Europe, the USA and Canada and looks back on a successful 30 years track record in financing healthcare innovation.
Dr. Hubert Birner, Managing Partner of TVM Capital Life Science says: “This new fund is an exciting opportunity to expand our reach into China and to leverage the unique deal flow and deal making capability of our Venture Capital teams in Munich and Montreal. We are very happy to welcome Mirko who will lead our efforts in China and we expect our investment team dedicated to China to grow substantially in the near future.”
Dr. Mirko Scherer is an experienced biotechnology executive and has led numerous financing and M&A transactions, in both public and private markets, in Europe and the U.S. over 15 years. Dr. Scherer co-founded GPC Biotech AG in 1997 a former TVM Capital Life Science portfolio firm – and served as its CFO over a decade. Mirko Scherer comments on the fund’s objectives: “The China BioPharma Capital I fund provides great opportunities to bridge the gap between the West and the East in the healthcare industry. The China BioPharma Capital I fund provides an ideal vehicle to combine the expertise and the network of TVM Capital Life Science in the West with the development, regulatory and sales/marketing acumen of our Chinese partner Lummy. We are looking forward to bringing many products and technologies to the Greater China area together with our strategic investor Lummy.“
About TVM Capital Life Science
TVM Capital Life Science is a group of independent investment advisories and fund managers. The teams based in Munich, Montreal and Hong Kong, advise and manage venture capital funds for investments into innovative biotech, pharmaceutical, and medtech companies in Europe, Canada the USA and Asia. The TVM Capital Life Science Practice arose from the Life Science investment practice within TVM Capital GmbH, Munich, one of the VC pioneers in biotech with a successful track record of 30 years in financing healthcare innovation. The life science team looks back on more than 120 investments and over 90 exits in the last 30 years, including more than 40 initial public offerings on all major U.S. and European stock exchanges, and combines long-standing international investment and company building experience with their track record of dedicated board work, extensive global networks in the world of life science research and product development and a direct knowledge of the local markets. TVM Capital Life Science currently invests from its 7th fund generation, TVM Life Science Ventures VII, with an integrated team of investment professionals. Fund generations III to VI are managed by managing partners, Dr. Helmut M. Schühsler and Dr. Hubert Birner out of the Munich office. TVM LSV VII is advised by Dr. Hubert Birner and Dr. Luc Marengere out of Munich and Montreal.
www.tvm-capital.com or www.tvm-lifescience.com
About TVM Capital Group
TVM Capital is a group of globally acting venture capital and private equity firms with an operating track record of 30 years. Investment teams have financed more than 250 emerging companies across several industries since 1984. During the last 15 years the firm has become increasingly specialized in the most attractive and high-growth verticals in the broader healthcare markets, with focus areas in financing innovative products and technologies in the European, U.S. and Asian biopharmaceutical and medical device markets, as well as healthcare services in the Middle East and India. TVM Capital funds operate globally with dedicated life science venture capital funds advised by group members TVM Life Science Management in Montréal and in Munich and its healthcare private equity fund managed by TVM Capital Healthcare Partners out of Dubai.
Lummy Pharmaceutical Co., Ltd. a pharmaceutical company based in Chongqing, China, which develops, manufactures and markets pharmaceuticals and health care products. Chonqing Lummy went public in 2009 on the Shenzhen Stock Market (Code: 300006). Lummy operates six fully owned subsidiaries and employs more than 2000 people with a strong focus on pharmaceutical innovation. For more information about Lummy, visit www.cqlummy.com