Chinese pharma company CF PharmTech, Inc has raised $90 million in its Series E round led by New Alliance Capital, according to a statement.
The round saw participation from CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Xiangcheng Financial Holdings and Everest Venture Capital. Return backers, Oriza Holdings, Longmen Venture Capital, GTJA Investment and CMB International, too joined the round.
“The completion of this round of funding reflects the strong support from China’s investors to fuel high-caliber pharmaceutical companies that have a strong global competitive edge, and will allow CF PharmTech to bring products in its pipeline to market,” the company said in the statement.
CF PharmTech, which specialises in respiratory health, has set up state-of-the-art R&D and manufacturing facilities for inhalation products.
The company claims that it has a growing pipeline of over 20 products targeting China and global markets.
CEC Capital served as the exclusive financial adviser to CF PharmTech on the deal.
Recently, Chinese precision medicine startup Geneseeq closed 800 million yuan ($114 million) in a Series D round of financing led by state-owned China Reform Holdings Corporation.
Earlier, Shanghai Kechow Pharma, a small molecule drug development company, had raised 313 million yuan ($45 million) in its Series C round led by Decheng Capital.
Meanwhile, EOC Pharma, an oncology-focused biopharmaceutical company secured nearly 500 million yuan ($71 million) in a Series C round of financing led by Tigermed, TF Capital, and Yingke PE.