BVCF Leads Series A Financing Round in Chinese Joint Venture (Asia)
Source: Quark Pharmaceuticals
Life sciences-focused private equity and growth capital investor BVCF has led an RMB45 million (approximately US$7.4 million) Series A financing round for China-based Kunshan RiboQuark Pharmaceutical Technology, a clinical stage pharmaceutical joint venture between pharmaceutical developer Quark Pharmaceuticals and research and development company Ribo Life Science. SBI Incubation—a subsidiary of SBI Group of Japan—Kunshan Industrial Technology Research Institute Investment and Kunshan Hongtu Hi-tech Venture Capital Management also participated in the round. The company intends to use the fresh capital to accelerate the clinical development of its lead product, QPI-1007, an ocular neuroprotectant that RiboQuark has licensed to sell in China and several other countries.