Shuzhou, China–based CF PharmTech said the latest round of funding reflects strong support from China’s investors and will allow the company to bring new products from its pipeline to market.
The company produces a metered-dose inhaler bronchodilator/corticosteroid, nasal spray for allergic rhinitis, a nebulizer that delivers medication as a mist to the lungs and a dry powder inhaler that delivers medication to the lungs as a powder.
New Alliance Capital led the financing round, while new investors CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Xiangcheng Financial Holdings and Everest Venture Capital participated as new investors. Existing investors such as Oriza Holdings, Longmen Venture Capital, GTJA Investment and CMB International also participated. CEC Capital served as the exclusive financial adviser to CF PharmTech.
“New Alliance Capital prioritizes investment opportunities in the healthcare industries,” New Alliance Capital executive director Lei Cai said in a news release. “Respiratory treatments and inhaled medications, in particular, are promising because of the high technological barriers to entry and immense potential for growth. CF PharmTech has worked meticulously to build strong technological platforms that support the development of a comprehensive range of products. The integrity and professionalism of the core team at CF PharmTech impressed us deeply.”
“CF PharmTech is one of China’s most innovative and pioneering pharmaceutical companies to focus on respiratory disease treatments,” added CR-CP Life Science Fund managing director Da Liu. “As a pharma company, CF PharmTech fully embodies a commitment to quality and global standards. As one of the few leading private pharmaceutical companies of respiratory drug delivery, CF PharmTech has immense potential for growth.”