Glonghui, December 19 | Yao Ming Kangde (603259.SH) announced that its wholly-owned subsidiary WuxiPharmatechHealthcareFundil.p. (“WuxiFunDi”) intends to subscribe as a limited partner for SOFINNOVABIOVELOCITAIIS.L.P. (“SOFINNOVABIOVELOCITAIII” or “SBVII” for short) fund shares. The subscription amount is 10 million euros (as of December 2024) (The median price of the EUR/RMB exchange rate announced by the China Foreign Exchange Trading Center on the 19th is approximately RMB 75 million after conversion); at the same time, Wuxifundi plans to subscribe for SOFINNOVAcrossOveriis.L.P. (“SofinnovaCrossOverII” or “SCOII” for short) fund shares as a limited partner, with a subscription amount of 10 million euros (according to the median price of the EUR/RMB exchange rate announced by the China Foreign Exchange Trading Center on December 19, 2024 (Approximately RMB 75 million after conversion). SBVII focuses on biotech enterprise creation and seed investment activities in Europe. The fund plans to complete investment in 10-15 early-stage technology transformation and seed projects.
SofinnovaPartners is a well-known European biotech investment institution with more than 50 years of industry resources and investment management experience in the European life sciences sector. The SBVII investment team consists of senior experts in the transformation of scientific research results. It has extensive network resources of research institutes and mature company incubation and product development experience, which helps the company to thoroughly seize early transformation opportunities for high-quality biomedical science in Europe. The SCOII investment team has rich trading experience and extensive capital market network resources in biomedical investment in the growth stage, and can provide forward-looking guidance for the company to reach mid-stage biomedical companies and track trends in the European biomedical industry.