On November 10, 2019 Stone Capital and Biosyngen reported have partnered to establish a Biopharmaceutical Investment Fund in Singapore, the signing ceremony was held in Ascendas One Hub of Sino-Singapore Guangzhou Knowledge City (Press release, Stone Biostatistics, NOV 10, 2019, View Source [SID1234550834]). The key investment targets of the biopharmaceutical fund of US$50 million raised is for Biosyngen biopharmaceutical technology transfer platform and to incubate companies.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Biosyngen has been an angel investment platform for biopharmaceutical projects, who has formed projects with selected early stage technologies after stringent screening process. This fund allows Biosyngen to take advantage of Singapore pool of talent, technology, regulations, government support and other industrial resources, in particular cell therapy technologies, Biosyngen provides high-efficient incubation support and clinical transformation of the projects. The Company is also taking advantage of the Chinese government’s policy support, environment and the rich clinical trial resources in China. When the projects reach certain level of maturity, they will be further developed and commercialised in China and ASEAN, thereby meeting the needs of both markets.
Mr. Wang Liqun, Chairman of Stone Capital and Director of Biosyngen; Dr. Victor Li Lietao, Founder and CEO of Biosyngen,; and Mr. Wang Shuli, Chairman of Biosyngen attended the event to witness a milestone in the progress of the company. As a well-known successful investor, Mr. Wang expressed his appreciation for Biosyngen on the competency of project transformation over the past three years. He also generously shared his management experience and made suggestions to Dr. Li. Dr. Li expressed his sincere gratitude to Mr. Wang for coming onboard Biosyngen as a Director as this will enhance the function of Biosygnen biopharmaceutical technology transfer platform which will accelerate the business development of Biosyngen.