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    Home»Fundraising»Israel-China medical fund to raise $300m for joint drug development ventures
    Fundraising

    Israel-China medical fund to raise $300m for joint drug development ventures

    June 6, 20211 Min Read
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    The Guangzhou Sino-Israel Bio-industry Investment Fund (GIBF), which seeks to promote and invest in Chinese and Israeli joint ventures in the biomedical field, said Monday it is raising a second fund for a total of $300 million (2 billion yuan).

    The GIBF 2 fund has already closed $200 million, and plans to raise an additional $100 million in the next three months, said Yehoshua (Shuki) Gleitman, a former chief scientist of the State of Israel, who heads the fund.

    GIBF typically invests some $3 million-$8 million in the joint venture, holding minority equity positions and assisting the ventures in their operations.

    GIBF’s second fund will operate in a similar model to the first fund but will increase its funding to about $15 million-$20 million per venture, and focus on Israeli and European biotechnology companies, which are developing innovative drugs and are in phase 2-3 of clinical trials.

    Read more/Source: Times of Israel

     

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