Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Bookmark and Share   

Home

Marketplace
Database
Deals
News
Store
Resources
Contact Us

 

 

 

News

 

Venture Capital Database 2014 Now Available

FortuneRock (China) Ltd. Announces Investments Totaling $24 Million

BEIJING, August 25, 2014-- FortuneRock (China) Ltd. is pleased to announce that it has received investments for its ongoing novel protein drug development and pre-IPO funding totaling $24m (RMB145m). About RMB120m is to support the set up of a new spin-off enterprise including building a new GMP manufacturing facility in Tianjin and about RMB25m is to assist the Company with development needs including its pre-IPO funding. The funds came from different investors including foreign and domestic Chinese private investors and Jinhua Pharmaceutical Co. Ltd., a public company listed on the Shenzhen Stock Exchange. The spin-off company will focus on the continued development and commercialization of the novel protein drug "Recombinant Human Serum Albumin/Granulocyte Stimulating Factor Fusion Protein for Injection" which is in Phase II clinical trials. Prof. Zailin YU, Chairman of FortuneRock (China) Ltd., also Chairman of the spin-off company said, "We are pleased to announce the successful investments into our business in China. This is the first step in our continued capital raising efforts for our extensive product pipeline development needs."

About FortuneRock (China) Ltd.

FortuneRock (China) Ltd., a privately held biotechnology and biopharmaceutical company registered in Beijing. Along with its 3 wholly owned subsidiaries, Tianjin SinoBiotech Ltd., SinoBiotech (Tianjin) Ltd. and Beijing Bio-Fortune Ltd., the group is focused on the discovery, development, and commercialization of novel, patent-protected gene-based recombinant protein drugs with high clinical value for the treatment of life-threatening and debilitating diseases. Currently, the company has one drug in clinical Phase I, one in clinical Phase II, another waiting for approval to enter into clinical Phase I, and several novel drugs in pre-clinical studies, all for different indications.

FortuneRock (China) Ltd. has unique technology platforms with 22 patents filed or granted in USA, China or PCT and all have been published. The Long Acting Recombinant Protein Drug Platform can be used for developing many therapeutic protein drugs for injection with longer half-life or long acting functions on the restructuring of the well known recombinant protein drugs. Along with a High Efficacy Yeast Expression System Platform, FortuneRock can produce kilogram mass quantities of high quality recombinant protein products. FortuneRock has extensive experience in product development and conducting pre-clinical and clinical trials in China for itself and its partners.

Contact:
FortuneRock (China) Ltd.
Prof. Zailin YU, +86-1370104142
Chairman
zyu@fortunerock.com; zyu@tsbsino.com
www.fortunerock.com; www.tsbsino.com


News Index

Venture Capital Database

Venture Capital Deals Spreadsheet

 

 NEWS

Latest VC News
VC News Archive
News Search
Venture Capital Deals
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Venture Capital Deals

vcaDeals
Download Sample
Buy Now

VC Tools

VC Pitch
Private Placement Memorandum

Business Plan Tools

Free Business Plan Template
Business Plan Tools

 

 

Copyright 1998-2014 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer