China based CF PharmTech, Inc. announced that it has raised US $50M in Series F financing following its US $90M Series E financing in January of 2020, in total, successfully completing an equity investment deal of nearly US $140M within six months.
The investors participated in the Series F financing include BioTrack Capital, CICC Qichen, CICC Qide, SAIC Hengxu, GP M&A Fund and Watson Investment. Its existing investors including Passion Capital and Yuanming Capital also participated. CEC Capital served as CF PharmTech's exclusive financial advisor for both Series E and F financing.
There are nearly 300 million people suffering from asthma, chronic obstructive pulmonary disease (COPD) or rhinitis in China. The occurrence of these chronic diseases continues to rise. The State Council's Opinions on the Implementation of Healthy China Actions issued by the State Council in July 2019 defined COPD in China as a major chronic disease that seriously affects quality of life, along with cancers, cardiovascular disease and diabetes.
With this new round of funding, CF Pharmtech is more poised than ever to provide respiratory disease treatments for China and global market.