Wednesday, June 6, 2007

Lilly's latest investment in China

BioVeda China today announced a $10 Million investment from Lilly Asian Ventures, reports Genetic Engineering & Biotechnology News.

BioVeda China, headquartered in Shanghai, is the first international venture capital fund focusing on life sciences investments in China. The investment has shown Lilly's commitment to expand its economic footprint in the fast growing life science industry in China.

BioVeda China helps to create and build future industry leaders, and transform Chinese companies into the next generation multinationals. BioVeda China will use funds provided by Lilly Asian Ventures along with other investors to invest in local Chinese life sciences companies.

Lilly Asian Ventures is a newly established spin-off of Lilly Ventures, one of the top venture capital organizations in the health care industry. Lilly Ventures identifies developing enterprises that have promising new technologies but need the funding and support of experienced investors to be successful.

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