CF PharmTech Closes US$ 90 Million Financing Round to Accelerate Global Development of Respiratory Drugs
SHUZHOU, China, Jan. 2, 2020 /PRNewswire/ -- CF PharmTech, Inc., a pharmaceutical company with a vision to provide quality and affordable respiratory drug products globally, announced it has raised a $90 million Series E investment led by New Alliance Capital. The investment included participation from new investors CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Xiangcheng Financial Holdings, Everest Venture Capital, and existing investors, such as Oriza Holdings, Longmen Venture Capital, GTJA Investment and CMB International.
The completion of this round of funding reflects the strong support from China's investors to fuel high-caliber pharmaceutical companies that have a strong global competitive edge, and will allow CF PharmTech to bring products in its pipeline to market.
With respect to this round of financing, New Alliance Capital Executive Director Lei Cai explained: "New Alliance Capital prioritizes investment opportunities in the healthcare industries. 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."
CR-CP Life Science Fund Managing Director Da Liu explained: "CF PharmTech is one of China's most innovative and pioneering pharmaceutical companies to focus on respiratory disease treatments. 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."
CEC Capital served as the exclusive financial adviser to CF PharmTech during this Series E round of financing. CEC Capital Partner Irene Hong had this to say: "The close of this financing round will mark a new stage in the product development at CF PharmTech. We greatly admire the persevering spirit of the CF PharmTech team."
About CF PharmTech:
CF PharmTech is a pharmaceutical company dedicated to respiratory health. Since its inception, the company has already established state of the art R&D and manufacturing facilities for inhalation products. Currently, CF PharmTech has a growing pipeline of over 20 products that are headed to China and global markets. Learn more about CF PharmTech, visit www.cfpharmtech.com.
SOURCE CF PharmTech, Inc.