Chinese companies that supply raw materials for the new drugs for the American Monkey Acne, invested 2 million US dollars to do LP

Medical listed companies are pouring into the private equity market for LP.

It is not surprising that pharmaceutical companies do LP, but this company is a bit "cow"!

Recently, a listed company Big Pessel (301080.SZ) issued an announcement saying that the wholly -owned subsidiary Acro Biosystems Corp. It is intended to invest in Waveray Coho Fund LLC for not exceeding $ 2 million in its own funds. The share of) has become its limited partner, and the deadline is planned to be 6-8 years.

Acrobiosystems This is a reorganized protein leader brand starting from the North American market. It is currently located in Newovak, Travana, USA. Beijing Bitapis Biotechnology Co., Ltd. is its Chinese operating entity. It was established in July 2010; it was listed on the GEM in October 2020.

To say that this company is interesting, mainly two points:

First, not long ago, the intravenous injection TPOXX® (TECOVIRIMAT), which was just approved in the United States for the treatment of monkey acne, is a Berptis to develop the drug -based material of the drug SIGA.

Second, the "Beijing Golden League Medical Inspection Lab" recently occurred in nucleic acid testing. After the equity was penetrated, Wang Xuegang, the legal representative of Jinzhun Medical, served as an external director of Bapisseus.

Big Pops is a company that provides upstream raw materials for the research and development of life technology. It mainly provides reorganized protein, antibodies, kits, medium and other biological reagent products. Among them, the restructuring protein is the company's core business. Facing global pharmaceutical companies, biotechnology companies, and scientific research institutes to meet the needs of large quantities, high -batch consistent protein reagents.

In the past two years, the demand for superimposed the biopharmaceutical industry in the new crown epidemic has grown rapidly. Biological reagents can be called the "selling shovel" of life science research. From scientific research institutions to pharmaceutical companies, they have a wide range of applications, especially the restructuring protein almost running through biopharmaceuticals. Essence The LP's investment in Bissez should be its own industrial chain in pursuit of industrial coordination, but in fact, this is not the first time that it has been involved in equity investment. At the beginning of this year, the company has invested in another Shanghai investment institution -Kang Orange invest.

Who is Waveray Coho Fund LLC?

According to the announcement, the wholly -owned subsidiary of Acrobiosystems HONGKONG LIMITED, a wholly -owned subsidiary of Beijing Bestis Sepatis Biotechnology Co., Ltd. Acrobiosystems Corp. It is intended to subscribe for the fund (COHO Fund) shares have become their limited partners. The annual management fee is 2%, and the decrease of 1.5%per year during the 3rd to 6 years, and the management fee is not charged during the 7-8 years. Attributable income/performance remuneration is 20%of net investment income.

Waveray Coho Fund LLC, a VC, founded in 2021, was DC. The registered place is DELAWARE. The main investment fields include biotechnology, life science and great health fields. The scale of fundraising is expected to be $ 10 million-$ 15 million.

Regarding the funding of Waveray Coho Ffho Filc, Barpus said that the fund's main investment direction is the company's main business -related equity investment, which can combine the company's professional advantages in the field of life sciences and medical and health to expand the company's investment channels and obtain investment income. At the same time, with the help of the investment experience, professional capabilities and high -quality resources of professional investment institutions, it has discovered and cultivated partners with complementary resources and strategic collaboration with the company's main business, continuously improved the layout of the industrial chain, and enhanced the company's comprehensive competitiveness.

Under the influence of the new crown epidemic, the research on the development of life science has become fast, and as a rigid product in the basic research process of life science, the biological reagent sector has also entered a period of gold. According to the annual report, Big Pops achieved operating income of 385 million yuan in 2021, an increase of 56.30%year -on -year; net profit attributable to shareholders of listed companies reached 174 million yuan, an increase of 50.34%year -on -year.

In the field of biomedicine, scientific research strength and technical level are always core competitiveness.

For a long time, Big Pops has adopted a development strategy of equal emphasis on domestic and foreign businesses. There is a research and development center in the United States to fully communicate and cooperate with European and American pharmaceutical companies, biotechnology companies, and scientific research institutions. At present, the company's business covers more than 60 countries around the world, with more than 4,000 customers, including both domestic and foreign pharmaceutical companies such as Pfizer, Merck, Hengrui, Yaoming, as well as the leading of global life science services such as Simo Fei and VWR. And the FDA, EMA, China Centers for Disease Control, Harvard University, Peking University and other domestic and foreign government departments and scientific research institutions.

It is worth noting that Big Pops is continuously deepened the layout of precision medical care to form new business growth points. In January 2021, a new subsidiary Best Medicine was established, positioned as key reagents for clinical trials, third -party testing services and in vitro diagnostic products. The future development plan provides powerful products to expand and layout in the field of diagnosis. support.

Big Pops set a strategic goal of "based on China and layout globally". In 2021, its domestic sales accounted for 41.50%to 160 million yuan, and overseas sales accounted for 58.50%to 225 million yuan. The investment in Waveray Coho Fund LLC may also be a key part of the overseas layout industry ecology.

Prior to listing, Baipusus received Pricewater Capital and Lan Ting Capital A financing in 2015 and 2017. Tongchuang Weiye, Nanjing Hi -Tech, Share Investment, Gaoke Xinjun, Nimo Bay Investment and other rounds B round B Financing. As of now, according to the company's first quarter report, the actual controller Chen Yiding directly held 23.53%of the company's equity, and indirectly controlled the company's 82.34%equity through Tianjin Baipapis. Pricewater Capital holds 2.42%of the company, Lan Ting Capital holds 3.14%, Nimo Bay invests in 3.72%, and Nanjing High -tech Xinjun holds 4.4%.

Among them, Lan Ting Capital was established in 2015. It is headquartered in Shanghai. It is a venture capital institution focusing on artificial intelligence and Internet, consumption upgrade, education, culture and entertainment. RMB. Investment projects include companies in the fields of Yuli Technology, Shuiyan Technology, Green Rice Technology, Cloud Trace Technology and other artificial intelligence fields and consumer and educational culture and entertainment fields such as Kai Tak Education, Lanyu Brand, and Salt Fish Games.

Nanjing Gaoke Xinjun Investment Management Co., Ltd. was established in October 2015 and was established by listed companies such as Nanjing Hi -Tech (600064) as a limited partner. His management partner Qin Yangwen joined Gaoke Xinjun after leaving the Cornerstone Capital in 2015. In November 2015 and December 2019, Nanjing Hi -Tech invested and established the first phase of the Xinjun Fund (total size of 1 billion yuan, and the company's capital contribution accounts for 69.65%) and Xinjun Innovation Fund (total size 1.01 billion yuan, the company's capital contribution accounts for accounting 68.96%).

According to news from early March this year, the first phase of Xinjun has completed all fund investment and is in the exit period. A total of 24 investment projects have been completed. There have been 3 listed projects. During the listing process, it is planned to be reported to the market in the past two years, and has withdrawn from 5 projects in different ways. At present, Xinjun Innovation Fund has paid about 900 million yuan, and 21 projects have been invested (1 listed project, and multiple projects are planned to be listed in the past two years).

The hidden "Kang Orange", domestic and foreign investment is not impartial

One thing that attracted the attention of reporters was that in addition to the foreign VC invested in this time, Big Papisse also invested in Tianjin Kang Orange Bailin Equity Investment Fund Partnership (Limited Partnership).

In January of this year, Baipapis issued an announcement to participate in the investment in Tianjin Kang Orange Bailin Equity Investment Fund Partnership (Limited Partnership). Essence

Kang Orange Investment was established in 2014, and the actual controllers are Sun Feng. From July 2006 to March 2014, he worked in the Shanghai Stock Exchange listed company to supervise one. He is currently the director and general manager of Kangsheng Investment; the executive partner of Shanghai Han Shang asset management partnership (limited partnership); chairman and general manager of Shanghai Kang Orange Investment Management Co., Ltd.; Erus Vacuum Overworky Co., Ltd., Zhejiang Jiejie Digital Needle Factory Co., Ltd., Wuxi Xinhongtai Electric Technology Co., Ltd. Independent Director; Director of Hebei Xianhe Environmental Protection Technology Co., Ltd..

According to the data, Kang Orange Investment is mainly focused on the equity investment in the field of life sciences and medical and health. By in -depth cooperation with relevant industry listed companies, the establishment of mergers and acquisitions funds, building an investment model of "PE+listed companies+projects" The main business provides services such as strategic combing, resource matching, industrial integration, and funding support for listed companies and mergers and acquisitions of different development stages to achieve a win -win situation for fund clients, listed companies, and fund managers. Judging from the past investment cases of Kang Orange Investment, it includes Disano Biology, Nuoyuan Medical, Pharmaceutical Rong Circle, Shengmei Bio, and Changtai Pharmaceutical.

Kang Orange Investment Institute project

Medical listed companies do LP

In recent years, listed companies in the medical field have poured into the private equity market as LP, especially for Innovation Pharmaceuticals.

Recently, on June 6, Hengrui Pharmaceuticals In order to improve the company's capital operation capabilities to deepen the industrial layout. ", Jointly launched the establishment of Shanghai Shengdi Biomedical Private Equity Investment Fund Partnership. This also means that Hengrui Pharmaceutical started LP.

According to the announcement, the total amount of contributions to partnerships is 2.01 billion yuan, of which Shengdi Investment is 10 million yuan as an ordinary partner (GP), and the shareholding ratio is 0.5%. ) The capital contribution is 1 billion yuan, and the shareholding ratio is 49.75%, respectively. The company's funding sources are their own funds.

Coincidentally, on the same day, Tianyancha showed that the Uighur (Suzhou) Health Industry Investment Fund (limited partnership) had changed industrial and commercial changes. The company, Suzhou Industrial Park Industrial Investment Fund (limited partnership), Beijing Daxing Development Guidance Fund (Limited Partnership) and other shareholders. On May 30, 1 week ago, Vivo Capital had just announced the completion of the RMB fund closure for the first time. The fund is expected to be about 10 billion yuan, and the first customs level is 4 billion yuan. It will be confirmed that it will be added in the subsequent rounds, and the scale of fundraising will reach the highest funding biomedical fund since this year. Combined with the two news, Koxing Bio has become a new round of RMB funds of Victoria Capital.

Hengrui and Kexing's two pharmaceutical star companies turn around as an LP nursery investment institution, which has the meaning of industrial layout, and this is not an industry case.

According to incomplete statistics, since 2021, nearly 100 medical listed companies in China have started LP. Biology, British Medical, Jichuan Pharmaceuticals, Zhong Dai Shares, Hansen Pharmaceuticals, Chengda Biological, Baicheng Pharmaceutical, Aoxiang Pharmaceutical, Micro Capable Biology, Ruikang Pharmaceutical, Taulong Pharmaceutical and other 35 As a limited partner, the medical listed company contributed a private equity fund, and most of the investment fields are focusing on medical and health tracks.

Last year's most sensational is Tiger Medicine. Within a month in March last year, the official announcement invested 5 funds, involving Boyuan Capital, Hanyang Capital, Lingang Life Blue Bay Fund, Yunfeng Fund, and United Rui A new fund initiated by Hua Holdings reached 520 million yuan. In addition to these five funds, Tiger Medicine is also the "gold master" of Qiming Venture Capital, Yingke Capital, Junlian Capital, and Yida Capital.

Some investors told reporters that the medical listed companies are doing LP on the one hand to cope with the increasingly fierce industry competition and maximize the cost of clinical research and development failure. On the other hand, we also want to seek capital appreciation by investing in some emerging industries to create new profit growth points. The reason why choosing to be as LP will be more secure than direct investment. "After all, the professional medical industry background knowledge allows them to better identify the value of the project, but a direct investment fund has raised from raising to investment management to exit, and the entire investment cycle is too much."

Judging from the current progress of the private equity field, most of them conduct equity investment business around the medical and health industry, focusing on the innovation research and development of biomedical fields. It is also with capital support that China's contribution to global pharmaceutical research and development has risen to 4%-8%, successfully ranked among the second echelons, becoming a new force on the global pharmaceutical research and development map.

However, in the context of the current industry changes and competition, these medical listed companies want to break the dilemma of lack of product innovation and insufficient competitiveness by doing LP, and how much "curative effect" can China be produced? "Coming to Asia Fund", the answer to the time needs to be waiting.

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