DOCSLIB.ORG

History, Development and Corporate Structure

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
History, Development and Corporate Structure THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT HISTORY, DEVELOPMENT AND CORPORATE STRUCTURE OVERVIEW We are an innovative biopharmaceutical company focused on the discovery and development of novel therapeutics addressing unmet medical needs in respiratory and lung diseases. With a product portfolio covering full disease cycle and patient segmentations, our drug candidates address a unique spectrum of acute and chronic respiratory and lung diseases that currently lack effective treatments. As of the Latest Practicable Date, we had developed a pipeline of nine drug candidates, including a three-asset RSV franchise led by ziresovir, our Core Product and one of our lead assets, and a three-asset anti-fibrotic franchise highlighted by AK3280, our other lead asset. The history of our Group can be traced back to August 2013 when Dr. Wu founded ArkBio Cayman, the predecessor of our Company. Our Company was established in Shanghai as a limited liability company under the PRC Company Law in April 2014 by ArkBio Limited, which was wholly-owned by ArkBio Cayman, and was converted into a joint stock company on March 5, 2021. See “Directors, Supervisors and Senior Management” section in this document for the relevant industry experience of Dr. Wu. KEY MILESTONES The following is a summary of our Group’s key corporate and business development milestones. 2013 ArkBio Cayman was incorporated. 2014 Our Company was established. We in-licensed global rights of ziresovir (AK0529) from Roche. 2015 We completed series A financing. We completed phase I clinical trial for ziresovir (AK0529) in Australia. 2016 We initiated Viral Inhibition in Children for Treatment of RSV (VICTOR) international multiple centers phase II clinical trial for ziresovir (AK0529). 2017 We partnered with California Institute for Biomedical Research of The Scripps Research Institute for the development of AK0705. We completed series A+ financing. 2018 We in-licensed global rights of AK3280 from Genentech, Roche and Intermune. We completed two phase I clinical trials for ziresovir (AK0529) in China and UK, respectively. We completed series B financing. 2019 We completed phase II global clinical trial of ziresovir (AK0529) for treatment of hospitalized pediatric patients and initiated phase III clinical trial in China. We completed phase I drug interaction study of ziresovir (AK0529) in Australia. 2020 We obtained IND approval from FDA for ziresovir (AK0529). – 162 – THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT HISTORY, DEVELOPMENT AND CORPORATE STRUCTURE Our ziresovir (AK0529) received breakthrough designation from the NMPA. We out-licensed China rights of AK0706 to Amoytop. We completed series pre-C and series C financings. 2021 We obtained IND approval from the NMPA for AK3280. We completed phase Ib clinical trial for AK3280 in Sweden. We completed series C+ financing. We filed IND application for AK3287 with the NMPA. ESTABLISHMENT AND MAJOR SHAREHOLDING CHANGES OF OUR GROUP The corporate history and major shareholding changes of our Group are set out below: Incorporation of ArkBio Cayman, ArkBio Limited and our Company On August 19, 2013, ArkBio Cayman was incorporated in the Caymans Islands under the Cayman Companies Act with limited liability. The initial authorized share capital of ArkBio Cayman was US$5,000 divided into 50,000,000 ordinary shares with a par value of US$0.0001 each, of which 1,000,000 ordinary shares were issued to Dr. Wu at par value immediately upon the incorporation. ArkBio Limited was later incorporated in Hong Kong as a direct wholly-owned subsidiary of ArkBio Cayman on November 29, 2013. Our Company was established as a direct wholly-owned subsidiary of ArkBio Limited on April 29, 2014 with an initial registered capital of USD200,000. Since the establishment, our Company has been functioned as the principal operating entity of our Group through which we operate our business operations primarily. Initial Shareholding Changes of ArkBio Cayman before the Restructuring Before the Restructuring, ArkBio Cayman had received several rounds of Pre-[REDACTED] Investments which are summarized in the paragraph headed “—Pre-[REDACTED] Investments.” The following table sets forth the shareholding structure of ArkBio Cayman immediately before the completion of the Restructuring (after the completion of the series B financing and the equity transfer between Morem Limited and Harmony Sky Capital Limited, details of which are set out in “—Pre-[REDACTED] Investments”): Number of Shares of ArkBio Shareholding No. Shareholder Cayman Class of Shares Percentage(1) 1 Profits Excel(2) 889,690 Ordinary shares 37.52% 2 Million Joy(2) 200,000 Ordinary shares 8.43% – 163 – THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT HISTORY, DEVELOPMENT AND CORPORATE STRUCTURE Number of Shares of ArkBio Shareholding No. Shareholder Cayman Class of Shares Percentage(1) 3 Golden Trend Investment Limited 237,509 Ordinary shares 10.02% (“Golden Trend”) 4 Magic Seeds Investment Limited 127,532 Ordinary shares 5.38% (“Magic Seeds”) 5 Qiming Managing Directors Fund 3,526 Series A preferred 0.20% IV, L.P. shares 1,218 Series A+ preferred shares 6 Qiming Managing Directors Fund 3,731 Series B preferred 0.16% VI, L.P. shares 7 Qiming Venture Partners IV, L.P. 111,668 Series A preferred 6.34% shares 38,585 Series A+ preferred shares 8 Qiming Venture Partners VI, L.P. 138,642 Series B preferred 5.85% shares 9 Morningside Venture (I) 86,396 Series A preferred 11.33% Investments Limited shares 39,803 Series A+ preferred shares 142,373 Series B preferred shares 10 SIP Sungent Venture Capital 59,705 Series A+ 2.52% Investment Partnership II (LP) preferred shares (蘇州工業園區新建元二期創業 投資企業(有限合夥), “SIP Sungent”) 11 Suzhou Industrial Park Seed 19,902 Series A+ 0.84% Zhengze Yihao Venture Capital preferred shares Enterprise (Limited Partnership) (蘇州工業園區原 點正則壹號創業投資企業(有限 合夥), “Oriza Seed”) 12 BioTrack AK Limited 42,712 Series B preferred 1.80% shares 13 Harmony Sky Investment Limited 42,712 Series B preferred 1.80% (“Harmony Sky”) shares 14 Harmony Sky Capital Limited(3) 100,000 Ordinary shares 4.22% – 164 – THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT HISTORY, DEVELOPMENT AND CORPORATE STRUCTURE Number of Shares of ArkBio Shareholding No. Shareholder Cayman Class of Shares Percentage(1) 15 Suzhou Juming Zhonghong 42,712 Series B preferred 1.80% Fangren Venture Capital shares Investment Partnership (Limited Partnership) (蘇州聚 明中泓方仁創業投資合夥企業 (有限合夥), “MING Bioventures Fund I”) 16 Pingtan Taige Yingke Venture 42,712 Series B preferred 1.80% Capital Investment Partnership shares (Limited Partnership) (平潭泰 格盈科創業投資合夥企業(有限 合夥), “Taige Yingke”) Total 2,371,128 100.00% Notes: (1) Assuming the preferred shares were converted into ordinary shares on a 1:1 basis. (2) Each of Profits Excel and Million Joy was wholly owned by Dr. Wu. Among the 889,690 ordinary shares held by Profits Excel, 189,690 ordinary shares, representing 8.00% of the then issued share capital of ArkBio Cayman, were reserved for employee incentive purpose. (3) Harmony Sky Capital Limited is an Independent Third Party. Restructuring In order to further optimize our shareholding structure, ArkBio Cayman, ArkBio Limited, our Company, ArkBio Suzhou, ArkBio Australia, Dr. Wu and other then shareholders of ArkBio Cayman entered into a restructuring framework agreement (the “Restructuring Agreement”) on August 1, 2020, pursuant to which we underwent the Restructuring to demolish our overseas shareholding structure. The following chart sets forth a simplified corporate structure of our Group immediately before the Restructuring: ArkBio Cayman (Cayman) 100% ArkBio Limited (HK) 100% 100% 100% ArkBio Australia ArkBio Suzhou Our Company (Australia) (PRC) – 165 – THIS DOCUMENT IS IN DRAFT FORM, INCOMPLETE AND SUBJECT TO CHANGE AND THE INFORMATION MUST BE READ IN CONJUNCTION WITH THE SECTION HEADED “WARNING” ON THE COVER OF THIS DOCUMENT HISTORY, DEVELOPMENT AND CORPORATE STRUCTURE Step 1: Acquisition of ArkBio Suzhou On August 26, 2020, pursuant to the sole shareholder’s resolution of ArkBio Limited, ArkBio Limited transferred the USD10,000,000 registered capital of ArkBio Suzhou held by it, representing the entire equity interest of ArkBio Suzhou, to our Company at the consideration of USD1,431,680, which was determined with reference to an asset valuation report issued by an independent third party valuer, the net asset value of the Company as at April 30, 2020. Upon such transfer, ArkBio Suzhou became a wholly-owned subsidiary of our Company. Step 2: Acquisition of ArkBio Australia On August 3, 2020, ArkBio HK was incorporated in Hong Kong as a direct wholly-owned subsidiary of our Company with an initial share capital of HK$10,000 divided into 10,000 ordinary shares with a par value of HK$1.00 each. On August 28, 2020, ArkBio Limited and ArkBio HK entered into a share transfer agreement pursuant to which ArkBio Limited transferred the entire equity interest in ArkBio Australia held by it to ArkBio HK at nil consideration. The transaction was approved by the Australian Government Foreign Investment Review Board on December 18, 2020. Upon such transfer, ArkBio Australia became an indirect wholly-owned subsidiary of our Company. Step 3: Transfer of equity interest in our Company from ArkBio Limited to the shareholders of ArkBio Cayman Pursuant to the Restructuring Agreement and the equity transfer agreements entered into among ArkBio Limited and the then shareholders of ArkBio Cayman or their designated parties on September 28, 2020 and November 20, 2020, ArkBio Limited transferred the entire equity interest in our Company to the shareholders of ArkBio Cayman or their designated parties in proportion to their respective shareholding in ArkBio Cayman.
Load more

Recommended publications
  • FORM 20-F Cootek
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR _ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report . Commission file number: 001-38665 CooTek (Cayman) Inc. (Exact Name of Registrant as Specified in Its Charter) N/A (Translation of Registrant’s Name Into English) Cayman Islands (Jurisdiction of Incorporation or Organization) Building 7, No. 2007 Hongmei Road, Xuhui District Shanghai, 201103 People’s Republic of China (Address of Principal Executive Offices) Jean Liqin Zhang, Chief Financial Officer Building 7, No. 2007 Hongmei Road, Xuhui District Shanghai, 201103 People’s Republic of China Phone: +86 21 6485-6352 Email: [email protected] (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange On Which Registered American depositary shares, each representing 50 Class A New York Stock Exchange ordinary share Class A ordinary shares, par value US$0.00001 per share* New York Stock Exchange* *Not for trading, but only in connection with the listing on the New York Stock Exchange of American depositary shares.
    [Show full text]
  • Corporate Venturing Report 2019
    Corporate Venturing 2019 Report SUMMIT@RSM All Rights Reserved. Copyright © 2019. Created by Joshua Eckblad, Academic Researcher at TiSEM in The Netherlands. 2 TABLE OF CONTENTS LEAD AUTHORS 03 Forewords Joshua G. Eckblad 06 All Investors In External Startups [email protected] 21 Corporate VC Investors https://www.corporateventuringresearch.org/ 38 Accelerator Investors CentER PhD Candidate, Department of Management 43 2018 Global Startup Fundraising Survey (Our Results) Tilburg School of Economics and Management (TiSEM) Tilburg University, The Netherlands 56 2019 Global Startup Fundraising Survey (Please Distribute) Dr. Tobias Gutmann [email protected] https://www.corporateventuringresearch.org/ LEGAL DISCLAIMER Post-Doctoral Researcher Dr. Ing. h.c. F. Porsche AG Chair of Strategic Management and Digital Entrepreneurship The information contained herein is for the prospects of specific companies. While HHL Leipzig Graduate School of Management, Germany general guidance on matters of interest, and every attempt has been made to ensure that intended for the personal use of the reader the information contained in this report has only. The analyses and conclusions are been obtained and arranged with due care, Christian Lindener based on publicly available information, Wayra is not responsible for any Pitchbook, CBInsights and information inaccuracies, errors or omissions contained [email protected] provided in the course of recent surveys in or relating to, this information. No Managing Director with a sample of startups and corporate information herein may be replicated Wayra Germany firms. without prior consent by Wayra. Wayra Germany GmbH (“Wayra”) accepts no Wayra Germany GmbH liability for any actions taken as response Kaufingerstraße 15 hereto.
    [Show full text]
  • Q2 2018 Venture Capital Deals and Exits 3 July 2018
    DOWNLOAD THE DATA PACK Q2 2018 VENTURE CAPITAL DEALS AND EXITS 3 JULY 2018 Fig. 1: Global Quarterly Venture Capital Deals*, Fig. 3: Number of Venture Capital Deals in Q2 2018 by Q1 2013 - Q2 2018 Fig. 2: Venture Capital Deals* in Q2 2018 by Region Investment Stage 4,500 80 100% Angel/Seed 7% 5% 1% 3% 4,000 2% 70 Aggregate Deal Value ($bn) 90% 1% 6% 3% Series A/Round 1 Other 1% 3% 3,500 60 80% 4% Series B/Round 2 3,000 50 70% 31% Israel 6% 2,500 54% 36% Series C/Round 3 60% 40 India 2,000 Series D/Round 4 and 50% No. of Deals 30 1,500 17% Later Greater China Growth 40% 16% 1,000 20 8% Capital/Expansion Proportion of Total Europe PIPE 500 10 30% 0 0 20% 37% North America Grant 31% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 10% Venture Debt 30% 2013 2014 2015 2016 2017 2018 0% Add-on & Other No. of Deals Aggregate Deal Value ($bn) No. of Deals Aggregate Deal Value Source: Preqin Source: Preqin Source: Preqin Fig. 5: Average Value of Venture Capital Deals by Investment Fig. 4: Venture Capital Deals* in Q2 2018 by Industry Stage, 2016 - H1 2018 Fig. 6: Number of US Venture Capital Deals* in Q2 2018 by State 40% 37% 140 35% 120 115 117 104 30% 2016 100 California 25% 24% 23% 80 80 2017 20% 34% New York 36% 14% 15% 60 49 15% 13% 13% 41 Q1-Q2 12% Massachusetts 40 32 29 32 29 2018 Proportion Proportion of Total 9% 26 2828 28 10% 8% 16 22 5% 5% Average Deal Size ($mn) 20 1211 5% 4% 4% 4% Washington 2% 1% 3%2% 2% 2 2 2 0% 0 Illinois 4% Other Round 3 Round 1 Round 2 Series C/ Series Series A/ Series B/ Series 4% Internet Other IT Other Other Services Business Food & Related Telecoms 13% Angel/Seed Industrials Healthcare Agriculture Software & 9% Consumer Expansion Venture Debt Venture 4 and Later Discretionary Series D/Round Series Growth Capital/ No.
    [Show full text]
  • NYC Healthcare Venture Capital Report
    2020 New York City Healthcare Venture Capital Report INTRODUCTION Welcome to the third annual New York City Healthcare Venture Capital Report. 2019 marked the ten-year anniversary of NYC Health We also explore key trends that are driving investment, Business Leaders (NYCHBL), during which we have seen interest and excitement including: a decade of incredible growth for NYC health start-ups. When Dr. Yin Ho and I co-founded NYCHBL in 2009, • LIFE SCIENCES. A decade ago, it was hard to name our goal was to build an organization that would help any biotechs calling NYC home. Today it’s a vastly connect people passionate about healthcare, because different story as you’ll learn from our dedicated section we believed that NYC should be at the center of on the sector’s growth. (See pages 16-19) healthcare innovation given our many assets. Ten years, • DIGITAL THERAPEUTICS. An emerging area that 55 events and 250 speakers later, New York City has in marries therapeutics with technology to drive better fact become the epicenter of tech-driven healthcare. It’s patient outcomes, digital therapeutics (DTx) are gaining rewarding that we’ve been able to play a part in the traction. As we hear from leaders in this exciting growth story. space, DTx are poised to change clinical practice The 2020 report reflects your overwhelming response, and alter the way healthcare is delivered in the future. inspiring feedback and thoughtful commentary to last (See pages 12-13) year’s report. There are more expert insights, observations • INVESTOR LANDSCAPE. Interest in investing and interviews from leading entrepreneurs, investors and in health has gone far beyond the names we have advisors.
    [Show full text]
  • Private Equity & Venture Capital
    VOLUME 13, ISSUE 6 ■ AUGUST 2017 alternative assets. intelligent data. PRIVATE EQUITY & VENTURE CAPITAL SPOTLIGHT THE GROWTH OF VENTURE IN THIS ISSUE CAPITAL IN ASIA 47% Venture capital transactions in Asia account for 47% of global deals in 2017 YTD – the most of any region – with FEATURE 3 51% of fund managers surveyed in H2 2017 noting an increase in appetite from Asia-based LPs. The Growth of Venture Capital in Asia Find out more on page 3 FEATURE 8 Fund Terms: Finding the Right Balance FUND TERMS: FINDING THE RIGHT INDUSTRY NEWS 12 BALANCE THE FACTS 48% ■ Luxembourg, Belgium 14 of LPs think that performance fees are a key issues when and The Netherlands it comes to aligned interests with GPs. How much of an ■ Sample Investors to 17 impact is this issue in reality, and what are GPs doing to Watch keep both parties happy? Find out more on page 8 CONFERENCES 19 All data in this newsletter can be downloaded to RECENTLY RELEASED: Excel for free THE 2017 2017 PREQIN PRIVATE PREQIN PRIVATE CAPITAL FUND TERMS ADVISOR CAPITAL FUND TERMS ADVISOR alternative assets. intelligent data Sign up to Spotlight, our free monthly newsletter, providing insights into Order Your Copy Download Sample Pages performance, investors, deals and fundraising, powered by Preqin data: SIGN UP Alt Credit Intelligence European and US Fund Services Awards: Best Data and Information Provider | Africa Global Funds Awards 2016: Best Research and Data Provider | The Queen’s Award for Enterprise: International Trade | HedgeWeek Global Awards: Best Global Hedge Fund Research Provider | CAIA Corporate Recognition Award www.preqin.com/contact| [email protected] SuperReturn Middle East 2017 22 - 24 October, Hilton Capital Grand, Abu Dhabi Past lessons.
    [Show full text]
  • Venture Capital Report
    Venture Capital Report China | 2 Q | 2018 VENTURE CAPITAL REPORT VENTURE CAPITAL REPORT The following report presents Dow Jones VentureSource’s quarterly findings for Chinese venture capital fundraising, investment, valuation, and liquidity. The included charts and graphs offer a comprehensive view of the trends currently affecting the venture capital market. Highlights for 2Q 2018 include: • China venture capital fundraising increased, both in capital raised and the number of funds; • Capital flowed into venture-backed Chinese companies reached a fresh record; • Amount collected through mergers and acquisitions (M&As) climbed significantly; • The transaction number via initial public offerings (IPOs) climbed, while the money raised declined. VENTURE CAPITAL REPORT 2 CHINESE VENTURE CAPITAL FUNDRAISING IMPROVED IN 2Q 2018 FUNDRAISING Chinese VC Fundraising (2015–2018) In 2Q 2018, 12 Chinese venture funds collected $2.53 billion. Based on multiple closings 25 $6.00 The capital raised is more than five times as many as the amount collected in the prior quarter, and the number of $5.00 funds is more than doubled. 20 In comparison to the same period last year, amount raised $4.00 increased by 5%, while deal number dropped by 20%. 15 $3.00 • Qiming Venture USD Fund VI LP was the largest Chinese venture fund in 2Q 2018, raising $935 million and 10 $2.00 representing a 37% of the total amount raised in venture capital funds during the quarter. 5 $1.00 0 $0.00 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 Amount
    [Show full text]
  • Stock Code: 6996
    (Incorporated in the Cayman Islands with limited liability) Stock Code: 6996 Joint Sponsors, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers Joint Bookrunner and Joint Lead Manager LifeGift_PPTUS Cover_Eng Cover Size: 210 x 280 mm / Open Size: 449.2 x 280 mm / Spine width: 29.2 mm IMPORTANT IMPORTANT: If you are in any doubt about any of the contents of this prospectus, you should obtain independent professional advice. Antengene Corporation Limited 德琪醫藥有限公司 (Incorporated in the Cayman Islands with limited liability) Global Offering Number of Offer Shares under : 154,153,500 Shares (subject to the the Global Offering Over-allotment Option) Number of Hong Kong Offer Shares : 15,416,000 Shares (subject to reallocation) Number of International Offer Shares : 138,737,500 Shares (subject to reallocation and the Over-allotment Option) Maximum Offer Price : HK$18.08 per Offer Share, plus brokerage of 1.0%, SFC transaction levy of 0.0027% and Hong Kong Stock Exchange trading fee of 0.005% (payable in full on application in Hong Kong dollars, subject to refund) Nominal value : US$0.0001 per Share Stock code : 6996 Joint Sponsors, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers Joint Bookrunner and Joint Lead Manager Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this prospectus, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this prospectus.
    [Show full text]
  • Life Sciences Venture Equity Market Review: the Evolving Role of Crossover Investors
    Life Sciences Venture Equity Market Review: The Evolving Role of Crossover Investors June 2021 Securities offered in the United States are offered through Torreya Capital LLC, Member FINRA/SIPC. In Europe such services are offered through Torreya Partners (Europe) LLP, which is authorized and regulated by the UK Financial Conduct Authority. The Market for Equity Privates in Life Sciences TORREYA | PRIVATE LIFE SCIENCES VENTURE FINANCING MARKET REVIEW – JUNE 2021 2 Total Private Venture Financing Volume: 2000-2021 H1 Given volumes in the first half of this year, there is little doubt that 2021 will shape up to be the most active year in history for private financing activity in the life sciences sector. Total Volume of Private Biopharma, Diagnostics and Tools 50000 Financing Rounds by Year Jan 2000 - June 2021 600 (deals over $25mm, excluding medical devices, worldwide) 45000 523 500 40000 35000 373 400 356 30000 334 25000 300 20000 224 226 Transaction Transaction Count 184 200 15000 145 138 121 122 111 10000 109 88 97 96 81 72 100 Aggregate Aggregate Dollar Volume of Private Financings ($mm) 55 5000 40 35 23 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 H1 Transaction Count Dollar Volume ($mm) Source: Torreya analysis and records, CapitalIQ and Crunchbase TORREYA | PRIVATE LIFE SCIENCES VENTURE FINANCING MARKET REVIEW – JUNE 2021 3 Fresh Venture Capital Flowing into Life Science Sector We are on track to see record amount raised in life science venture capital in 2021.
    [Show full text]
  • Executive Summary
    March 19, 2021 Adam Lysenko Testimony before the U.S.-China Economic and Security Review Commission Hearing on U.S. Investment in China's Capital Markets and Military-Industrial Complex Panel II: U.S. Investment in China’s Stock, Debt, and Venture Capital and Private Equity Markets The views expressed in this testimony are the author's alone and do not represent those of any of the organizations with which the author is, or has been, affiliated. Executive Summary Background on China’s Private Equity Ecosystem • Thanks to the rapid expansion of venture capital and other private equity investment in China during the last decade, China is now home to a significant total of global private equity investment each year. In 2020, more than 20% of global venture capital investment dollars funded startups in China, and about 6% of announced non-venture capital PE deals by investment value involved target companies in China. China’s position as a magnet for venture capital investment is particularly striking given that only a few percent of total global venture capital dollars flowed to Chinese startups before 2010. • In 2020, 54% of all venture capital transactions measured by total invested capital included at least one offshore investor, with the US participation rate at 29%. These totals exclude US and other foreign limited partner investment through VC funds managed by general partners from China, which have directed billions of additional dollars of foreign capital to Chinese startups over the last two decades as well. By total announced investment, foreign non-venture capital PE investors matched or narrowly outspent their onshore Chinese counterparts in each of the last two years, making foreign investors relatively more heavyweight players in China’s non-venture capital private equity ecosystem.
    [Show full text]
  • RISKY BUSINESS: HOW LEADING VENTURE CAPITAL FIRMS IGNORE HUMAN RIGHTS WHEN INVESTING in TECHNOLOGY 3 Amnesty International 1
    RISKY BUSINESS HOW LEADING VENTURE CAPITAL FIRMS IGNORE HUMAN RIGHTS WHEN INVESTING IN TECHNOLOGY Amnesty International is a movement of 10 million people which mobilizes the humanity in everyone and campaigns for change so we can all enjoy our human rights. Our vision is of a world where those in power keep their promises, respect international law and are held to account. We are independent of any government, political ideology, economic interest or religion and are funded mainly by our membership and individual donations. We believe that acting in solidarity and compassion with people everywhere can change our societies for the better. © Amnesty International 2021 Except where otherwise noted, content in this document is licensed under a Creative Commons Cover llustration © Sebastien Thibault/agoodson.com (attribution, non-commercial, no derivatives, international 4.0) licence. https://creativecommons.org/licenses/by-nc-nd/4.0/legalcode For more information please visit the permissions page on our website: www.amnesty.org Where material is attributed to a copyright owner other than Amnesty International this material is not subject to the Creative Commons licence. First published in 2021 by Amnesty International Ltd Peter Benenson House, 1 Easton Street, London WC1X 0DW, UK Index: DOC 10/4449/2021 Original language: English amnesty.org CONTENTS 1. EXECUTIVE SUMMARY 4 2. METHODOLOGY 11 3. BACKGROUND: WHAT IS VENTURE CAPITAL? 7 4. VENTURE CAPITAL’S HUMAN RIGHTS RESPONSIBILITIES 9 5. THE CURRENT STATE OF HUMAN RIGHTS DUE DILIGENCE IN THE VC SECTOR 13 6. THE HUMAN RIGHTS IMPACT OF THE LACK OF VC DUE DILIGENCE 18 7. VENTURE CAPITAL’S LACK OF DIVERSITY 24 8.
    [Show full text]
  • Top of the World? AVCJ RESEARCH China VC Firms Seek Additional Capital to Reach Into the Growth Stages Page 7 Data F Ile Page 15
    Asia’s Private Equity News Source avcj.com December 01 2015 Volume 28 Number 45 EDITOR’S VIEWPOINT Southeast Asia: A shallow PE fundraising market Page 3 NEWS Bain, Carlyle, Cathay, EMR, Hastings, Highlight, Mitsui, Northstar, NSSF, RRJ, Sequoia, SoftBank, TPG, Warburg Pincus Page 4 FOCUS Transparency, timing of entry are key to cracking venture secondaries Page 11 DEAL OF THE WEEK Partners Group to back Aiyingshi’s cross-border acquisition initiative Page 12 Top of the world? AVCJ RESEARCH China VC firms seek additional capital to reach into the growth stages Page 7 Data f ile Page 15 DEAL OF THE WEEK PROFILE Connected classes Cross-border angel IFC, Everstone support digital education Page 12 Huoy-Ming Yeh’s China-US VC adventure Page 14 Anything is possible if you work with the right partner Unlocking liquidity for private equity investors www.collercapital.com London, New York, Hong Kong EDITOR’S VIEWPOINT [email protected] Managing Editor Tim Burroughs (852) 3411 4909 Associate Editor Growing pains Winnie Liu (852) 3411 4907 Staff Writer Holden Mann (852) 3411 4964 NORTHSTAR GROUP HAS RAISED $810 these represents a perfect sub-regional blend: Creative Director million for its fourth fund, but getting there Navis on occasion touches Australia and Hong Dicky Tang was no easy task. The GP’s primary market is Kong, while Northstar is highly concentrated on Designers Indonesia, and while Joko Widodo was elected Indonesia. Catherine Chau, Edith Leung, president last year on the back of renewed Two explanations spring to mind for the Mansfield Hor, Tony Chow optimism, he needs time to implement the relative paucity of GPs in the upper middle Senior Research Manager economic reforms upon which he will be judged.
    [Show full text]
  • Private Placement Activity 9/25/2017 – 9/29/2017 (Transactions in Excess of $15 Million) Trends & Commentary
    Chris Hastings | [email protected] | 917-621-3750 Private Placement Activity 9/25/2017 – 9/29/2017 (Transactions in excess of $15 million) Trends & Commentary . There has been an increase in Initial Coin Offerings (ICOs) which raise funds without giving away ownership in the form of “tokens”, or Company-specific currency, that will appreciate in value alongside the Company and can be used to purchase the Company’s products. These tokens are unregulated issuances of cryptocoins, usually Bitcoin, and as a result, have led to two investigations into ICOs for defrauding investors. KIK, a provider of a smartphone messaging application, recently ICO’d and raised $98 million through their ‘Kin’ token. GP stake deals have been garnering attention as major players such as Goldman Sachs and Blackstone have all been raising funds to acquire minority equity positions in Private Equity Funds. There have been 11 funds raised that explicitly focus on GP stakes. Funds can often be successful from an investment in only one company, as seen by Spectrum Equity’s investment in Ancestry, yielding a 7x return on its original investment and a 17.9% IRR for the entire fund. Poynt, led by ex-head of Osama Bedier, ex-head of Google Wallet, is seeking $50 million with its latest round. FT Partners is advising. Job-focused startups have been steadily increasing, even during the recession, leading to 46 deals completed to date in 2017. Amid Uber’s recent turmoil, Lyft is eyeing an IPO as it is close to selecting an IPO advisory firm. Highlights . Letgo, a provider of a used goods marketplace, raised $100 million at a $900 million pre-money valuation – investors include Insight Venture Partners and New Enterprise Associates.
    [Show full text]