Lilly Asia Venture Capital Fund's operationin in China

November 14, Lilly Corporation of the United States, the world's leading pharmaceutical company, announced that the formation of Lilly's Asian Venture Capital Fund management team has been successfully completed, and its China business headquarters has been officially established in Pudong, ShanghaiAt this point, Lilly Asia Venture Capital Fund's operations in China have been fully operationalLilly Asia Venture Capital Appointed Darren Carroll as Senior Managing Director to lead the team's operations, MrBryan Dunnivant and DrShi Yi as Managing Directors, and DrHu Peng as Chief Investment ManagerAll four executives are experts in investment or life sciencesAmong them, DrShi Yi will be based at his China headquarters in Pudong, Shanghai, and will be responsible for seeking and evaluating promising investment projects" Since Lilly's Asian Venture Capital Fund was established in June this year, we have received a number of active engagements from Chinese life sciences companiesWe are extremely pleased to be able to help Chinese life sciences companies grow and develop rapidly more directly and effectivelyMrDarren Kellogg saidLilly Asia Venture Capital Fund is an important part of the strategic development plan in China announced by DrLi Lida, Global President and Chief Operating Officer of Lilly, during his visit to China in June this yearLilly's strategic plan for China also includes an investment of $100 million in research and development in China over the next five years, focusing on biosciences, chemistry and clinical research, in order to further leverage China's extensive pool of research andtalents in these areas
and expand Lilly's global research and development capabilities Lilly Asia Venture Capital Fund is a new start-up in Lilly Venture Capital Fund Lilly Venture Capital Fund is one of the world's leading venture capital institutions in the pharmaceutical industry, focusing on investing in growth-oriented enterprises with promising technology but in urgent need of funding and support from mature investors As one of the fastest growing economies in the world, China has great potential in the field of life sciences But many start-ups also need financial and other support Like Lilly Venture Capital, Lilly Asia Venture Capital Focuses on biosciences, medical device and diagnostics, and all related services to promote the growing maturity and refinement of china's medical health care industry " Venture capital is very important to promote rapid growth in the life sciences sector in China," said Dr Yu Ningni, Vice President of Zhangjiang Biopharmaceutical Park in Shanghai "We are delighted that Lilly Asia Venture Capital Fund has joined in this area and will have its first office in Pudong." Lilly Asia Venture Capital Has now completed its first investment, investing $10m in BioVeda China, a limited investment partner Benovada is the world's first venture capital fund company focused on investing in life sciences in China With lilly's Asian Venture Capital Fund operating in China in full swing, the fund will seek and reach a wider range of promising life sciences companies to make more direct investments.