The Jiangsu Suzhou Biomedicine Industry Special Fund of Fund (FoF), a colossal pharmaceutical investment vehicle with a capitalization of RMB 6 billion (USD 843 million), debuted last week. This 15-year financial instrument is designed to target and catalyze growth in innovative drugs, medical R&D, medical devices, healthcare services, and synthetic biology sectors.
The establishment of the FoF is a collaborative endeavor between the SNG Group and the Jiangsu Strategic Emerging Industries Fund of Fund, with the latter committing a substantial RMB 1.5 billion, making it the largest limited partner in this venture.
Suzhou, a city already on the map for its thriving biomedicine industry, is home to over 3,800 companies in the sector. Notably, it hosts six of the world’s top 20 pharmaceutical firms and 21 of the top 50 medical device companies, reinforcing its status as a global biomedicine hub. – Flcube.com
