Tianjin Event Brings Together China Life Science Companies and Investors
TIANJIN, China--(BUSINESS WIRE)--The 7th ChinaBio® Investor Forum, held December 2-3, 2009 in Tianjin, concluded a successful meeting by giving “Most Promising Company” awards to two young China life science companies. Sinocro Medical of Tianjin won the prize in the Medical Device category, and Tianjin CanSino Biotechnology, a vaccine company, was the recipient in the Biopharma group.
The event was the seventh ChinaBio® Investor Forum since the first was held in December 2007 in Shanghai. Organized by ChinaBio® Accelerator, the Investor Forum was hosted by the Tianjin International Joint Academy of Biotechnology and Medicine (TJAB).
For seventeen young and mid-life companies (eight of them from Tianjin), the Investor Forum was a chance to present their business plans to venture capitalists who are actively investing in China life sciences. The VCs and investment bankers in attendance included The Balloch Group, Mingly China Growth Fund, DSM Venturing, Morningside, Fidelity Asia Ventures, DFJ Dragon Fund China, Capital First Partners, IDG Ventures, Suma Ventures, TEDA Venture Capital, Trout Capital, and others. In past events, ChinaBio® Investor Forums have resulted in placements of over $140 million in venture capital.
“It is always a difficult choice to select the ‘Most Promising’ companies among so many strong candidates,” said Greg Scott, CEO and founder of ChinaBio® Accelerator. “And our VC judges panel said this event had some of the best companies yet,” Scott continued. “The quality of companies, while always high, is definitely improving as China’s life science industry matures, and the Tianjin Investor Forum brought a new level of sophistication.”
Sinocro Medical Inc.
Sinocro Medical Inc., winner of the Medical Device category, engages in global product licensing, manufacture, and distribution. It provides product redesign, upgrades and manufacturing processing development.
So far, it has in-licensed three products. Ovacue, a fertility monitor, is the only patented fertility monitor that provides both conception and contraception services at home. It can predict ovulation seven days in advance.
SmartDose and OysterShell are innovative new CO2 powered portable IV infusion systems, whose pump does not require either gravity or electricity. FLO FOOT is an innovative device for Deep Vein Thrombosis. Sinocro Medicals holds both the distribution and manufacturing rights for its three products, which are FDA approved in the US.
Tianjin CanSino Biotechnology Inc.
Tianjin CanSino Biotechnology Inc., winner in the Biopharma category, was formed in January 2009 by scientists with international vaccine experience. The company aims to develop leading-edge, high quality, high value vaccines for China and other emerging markets at an affordable cost. Because CanSino does not believe that China’s existing vaccine technology is up to international standards, the company wants to lead China’s vaccine industry to the point where it becomes a major contributor to global public health.
Toward that end, CanSino has developed four technology platforms. These include recombinant protein-based vaccine technology, polysaccharide protein conjugate vaccine technology, VLP-based viral vaccine technology and component Pertussis-based combo vaccine technology.
CanSino has already inked two deals to develop vaccines for other entities. An agreement with a leading China vaccine company to develop a pneumococcal conjugate vaccine for infants could bring as much as $100 million to CanSino. A second agreement, with an unnamed China distribution agent for a vaccine, could yield $20 million. For this deal, CanSino hopes to have a product ready to license by 2013.
The 7th ChinaBio® Investor Forum
The 7th ChinaBio® Investor Forum was the first to be held in Tianjin. With the June 2009 opening of the Tianjin International Joint Academy of Biotechnology and Medicine (TJAB), Tianjin announced itself as a leading venue for bio-medical innovation in China. Located in the Tianjin Economic - Technological Development Area (TEDA), TJAB's 19 story, 700,000 sq ft (70,000 sq m) building includes over 70 labs complete with equipment and instrumentation. TJAB has already attracted 50 proprietary R&D projects in the areas of drugs, vaccines, diagnostics and medical instruments.
Platinum Sponsors for the 7th ChinaBio® Investor Forum were The Balloch Group and Laoning Chengda Biotechnology. Other sponsors included Alexandria, BioBay, Life Technologies, Merck & Co., Mingly, Morrison & Foerster, Pfizer, Wilson Sonsini Goodrich and Rosati, Broad & Bright and Orbimed.
More information on the event and the presenting companies is available at www.CBIF2009-TJ.com.
About ChinaBio® LLC
Since its founding in January, 2007, ChinaBio LLC has rapidly launched a number of successful initiatives connecting China biotech with the world. With offices in Shanghai, Silicon Valley and San Diego, ChinaBio’s activities include:
- Conferences: Organizer of the premier life science investment and partnering forums in China, ChinaBio has helped early stage China companies raise over USD 140 million to date.
- Consulting: Helping global life science companies, entrepreneurs and investors understand the China life science market, create a China strategy, and identify novel technologies and partners.
- Information: In-depth market intelligence and databases on novel technology development, clinical trials, and investment and partnering activity in China.
- ChinaBio® Today: Publishing online and email newsletters focusing exclusively on China’s life science industry.
More information is available at www.chinabiollc.com.
Contacts
ChinaBio LLC
Jean Meng, +1 858-926-4566 (USA)
China: +8621 5137 0751
jmeng@chinabiollc.com