HK’s Ally Bridge Group backs two European life science firms

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Ally Bridge Group (ABG), a Hong Kong-based healthcare-focused investment group, has completed its undisclosed sum of investments in two European biopharmaceutical companies ― Galenica AG (GALN) of Switzerland, and Nabriva (NBRV) of Austria and the US.

The two global companies represent the latest addition to ABG’s global life science portfolio with flagships such as WuXi PharmaTech of China and Tesaro Inc of the US.

Nabriva is a clinical-stage company developing next-generation antibiotics against bacterial infections and, particularly, drug-resistant bacteria, an alarming global health threat.

Also Read: HK’s Ally Bridge leads $150m investment in Sorrento Therapeutics

Galenica provides therapeutics treating chronic kidney disease (CKD), a prevalent and steadily growing indication worldwide. It also produces iron supplements through its subsidiary Vifor Pharma.

Galenica-Vifor is expanding its franchise further into nephrology, and new areas such as cardiology, women’s health and gastroenterology, from Europe to the US.

ABG founder, CEO and CIO Frank Yu, said the timing of the two new investments was particularly good, with Nabriva being an instant winner and the Galenica investment completed shortly before the announcement of a $30 billion acquisition of Swiss biotech company Actelion by global giant Johnson and Johnson.

Also Read: China: Qiming leads $20M series A in Connect Biopharmaceuticals to advance clinical study

“The new investments, together with their existing position in Adaptimmune of the UK, constitute ABG’s core European life science portfolio, and are all representative of ABG’s focus on leading European companies with strong aspirations and capabilities in the US,” Yu said.

ABG’s past investments included Pieris of Germany and the US, Cellectis of France and the US and Medtech SA (acquired by Zimmer Biomet).

Ponthieu Partners, a healthcare-dedicated boutique investment bank based in Zug, Switzerland advised ABG on the Galenica investment. Ponthieu Partners was founded by Mathieu Bigois, who has joined ABG as its European venture partner to help expand ABG’s life science investments in Europe and emerging markets.

Also Read:

China: Qiming leads $20M series A in Connect Biopharmaceuticals to advance clinical study

China: GTJA pilots $39m round in antibody drug firm Mabworks

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.