China life science companies receive 'Most Promising Company' awards

The 7^th ChinaBio^® Investor Forum, held December 2-3, 2009 in Tianjin, concluded a successful meeting by giving “Most Promising Company” awards to two young China life science companies. Sinocro Medical of Tianjin won the prize in the Medical Device category, and Tianjin CanSino Biotechnology, a vaccine company, was the recipient in the Biopharma group.

The event was the seventh ChinaBio^® Investor Forum since the first was held in December 2007 in Shanghai. Organized by ChinaBio^® Accelerator, the Investor Forum was hosted by the Tianjin International Joint Academy of Biotechnology and Medicine (TJAB).

For seventeen young and mid-life companies (eight of them from Tianjin), the Investor Forum was a chance to present their business plans to venture capitalists who are actively investing in China life sciences. The VCs and investment bankers in attendance included The Balloch Group, Mingly China Growth Fund, DSM Venturing, Morningside, Fidelity Asia Ventures, DFJ Dragon Fund China, Capital First Partners, IDG Ventures, Suma Ventures, TEDA Venture Capital, Trout Capital, and others. In past events, ChinaBio^® Investor Forums have resulted in placements of over $140 million in venture capital.

“It is always a difficult choice to select the ‘Most Promising’ companies among so many strong candidates,” said Greg Scott, CEO and founder of ChinaBio^® Accelerator. “And our VC judges panel said this event had some of the best companies yet,” Scott continued. “The quality of companies, while always high, is definitely improving as China’s life science industry matures, and the Tianjin Investor Forum brought a new level of sophistication.”

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