Shanghai-based Qiming Venture Partners raised $648 million in commitments for its fifth U.S. dollar venture capital fund, putting its assets under management at $2.5 billion since a debut in 2006 to focus on a mix of China healthcare-related firms among other investments such as mobile phone maker Xiaomi, the company said in a release.
The venture capital unit of WuXi PharmaTech said it has raised $290 million for a investment fund, which topped its initial target of $200 million and means WuXi Healthcare Ventures has now raised a total of more than $350 million that it plans to use to continue its "find in U.S. and build in China" expansion plans.
Redwood City, CA-based PaxVax currently markets one vaccine, Vivotif, the typhoid vaccine it acquired from Johnson & Johnson's Crucell in July 2014. But PaxVax could be on the way to adding its cholera candidate, Vaxchora, to the list thanks to a $105 million investment from Cerberus Capital management.
Verge Genomics has raised $4 million to finance a computer-based drug discovery program targeting neurological disorders. The plan is to map all the genes implicated in a disease, using technology that Verge compares to Google's search engine, and find drugs that can hit each of the targets simultaneously.
Following a wave of recent activity in the cancer vaccines space, Gritstone Oncology burst onto the scene this week, bringing with it financial backing, scientific expertise and new energy to the field that has for years experienced mostly disappointment.
Having played a major role in making consumer genomics feasible, Illumina is now looking to shape how the nascent sector develops. The company has teamed up with big-name VCs to create Helix, a deep-pocketed startup that is one part massive next-generation sequencing operation, one part app store for genomics.
San Diego's Genalyte reeled in $44 million in a Series C round to spur development of its microchip blood testing platform. The company's Maverick Detection System uses a single drop of blood on a silicon microchip to provide results in 15 minutes, forgoing many of the steps required in traditional blood testing.
Chinese CRO giant WuXi PharmaTech is looking to expand its investment portfolio, planning to debut a $250 million new fund that will back startups in the U.S. and China.
Shanghai, Sydney, Singapore, Taipei and Seoul aim to be the biotech hubs in Asia, but San Diego-based CEO of industry group Biocom Joe Panetta said more investors and companies should look hard at Kobe, Japan.
Trialbee has raised $5 million to expand its clinical trial recruitment business in the U.S.