Chinese respiratory disease-focused pharmaceutical company CF PharmTech, Inc on Thursday said it has raised 360 million yuan ($50 million) in a Series F round of financing from healthcare-focused BioTrack Capital, CICC Capital’s CICC Qichen, CICC Qide, SAIC Hengxu, GP M&A Fund and Watson Investment.
Existing investors including Passion Capital and Yuanming Capital also participated in the round.
The round follows the $90-million Series E financing the company raised in January 2020. With the latest deal, the company has raised a total of $140 million in 2020 across two rounds. CEC Capital served as CF PharmTech’s exclusive financial advisor for both Series E and F financing.
The company secured its Series E funding from a slew of investors including CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Everest Venture Capital, Oriza Holdings, CMB International, Xiangcheng Financial Holdings, Longmen Venture Capital, and GTJA Investment, according to a company statement.
Headquartered in Suzhou, CF PharmTech develops inhaled respiratory drugs for patients suffering from asthma, chronic obstructive pulmonary disease, and allergic rhinitis. Set up in 2007, CF has launched more than 20 products targeting the treatment areas.
According to the statement, there are nearly 300 million people suffering from respiratory diseases in China. The Chinese market size for asthma and COPD-based drugs stood at 7 billion yuan ($2.40 billion) in 2018 with an annual growth of 14 per cent.
