This venture capital firm invests in pre-seed to seed stage opportunities with initial check sizes ranging from $500k to $1M and maintains reserves for follow-on capital. While the firm prefers to lead deals, it is open to syndication. Investment geography spans both Europe and the United States.
The investment team has a deep technical background in software, artificial intelligence, and algorithms. Within life sciences and healthcare, the firm is focused on techbio, synthetic biology, computational biology, chemistry & materials.
The firm is also open to hardware (e.g., diagnostics or medical devices) that enable novel data modalities, digital health, and therapeutic platforms.
However, the firm does not invest in traditional therapeutic assets and is indication-agnostic. Opportunities can be considered as early as the pre-prototype stage, provided there is a roadmap toward intellectual property or patent protection.
There are no strict team or company prerequisites, though the firm has a preference for technical founders with strong scientific grounding. The firm may take a board or observer seat depending on the opportunity.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
China’s productivity nearly matches the output of the US and places Europe in a distant third.
A couple of weeks ago, Bloomberg also summarized deal data showing how the share of global licensing by Chinese biotech companies has jumped over the past two years.
Licenses involving Chinese biotechs, as shown by share of upfront cash in licensing deals involving at least one foreign buyer. Data as of June 18, 2025. Calculation includes companies with headquarters in mainland China and Hong Kong. Source: Bloomberg/Dealforma
Judging by a report listing 16 ‘high-value’ currently unlicensed assets from China being hawked by longtime Phalanx Investment Partners analyst David Maris, there is more licensing to come.
In this context, we read with interest a recent Science Immunology paper describing a monoclonal antibody (mAb) program targeting a novel phagocytic checkpoint under development at yet another Chinese biotech: MedimScience, founded in Hangzhou City in 2021. MedimScience is one of a growing cadre of companies, including LTZ Therapeutics, Dren Bio, Chengdu Kanghong, Antengene and ImmuneOnco, looking to develop novel myeloid cell engagers/phagocytic checkpoint inhibitors.
Phagocytic checkpoint inhibitors are drugs that circumvent the molecular cloaks that tumors throw around themselves to avoid uptake and destruction by myeloid cells, such as macrophages, monocytes, and neutrophils. The strategy first came to the fore through pioneering work on the ‘don’t eat me’ signal CD47, work carried out by Ravi Majeti and Irv Weissman at Stanford. Results from their preclinical studies spurred the launch of startup Forty Seven (subsequently acquired in 2020 by Gilead) and the first-in-class anti-CD47 IgG4 magrolimabprogram.Phase 1b trial results of magrolimab combined with azacitidine in acute myeloid leukemia (AML) patients were so impressive that, by 2022, more than 20 different companies had anti-CD47 programs in clinical development. This blew up spectacularly when early trials failed to be reproduced in larger efficacy trials of combinations — failure that was largely attributed to intolerability/anemia issues related to the target, slow action/early disease progression, and a failure to account for patient heterogeneity with regard to P53 mutation status. But the strategy is compelling and the hunt for new phagocytic checkpoints has continued with new antibody formats seeking to avoid these pitfalls.
Now, Cheng Zhong and his colleagues at MedimScience report the identification of a new evasion actor — PSGL-1 — that suppresses macrophage-mediated phagocytosis in a variety of hematological malignancies. PSGL-1, which was previously known largely for its role in cell adhesion, is highly expressed in various hematologic cancers, including AML, T-acute lymphoblastic leukemia (T-ALL) and multiple myeloma (MM).
PSGL-1 transcript expression in various cancers. Source: Human Protein Atlas
Moreover, high PSGL-1 expression has been found to correlate with poor patient survival in AML, T-ALL and MM.
PSGL-1 expression and patient survival. (A) Correlation analysis of PSGL-1 expression with survival of patients with AML (n = 957); (B) Correlation analysis of PSGL-1 expression with survival of patients with MM (n = 559). (C) PSGL-1 expression quantified by flow cytometry among patients with B cell acute lymphoblastic leukemia (B-ALL; n = 33), AML (n = 41), T-ALL (n = 32), and MM (n = 29). Source:Science Immunology
Using several mouse models, the researchers found that tumors lacking PSGL-1 show slower progression, increased macrophage infiltration, and higher rates of phagocytosis by macrophages, effects that were independent of T cells or dendritic cells.
Mechanistically, the team found that PSGL-1 disrupts the interaction between the cell-adhesion molecule ICAM-1 on tumor cells and the integrin LFA-1 (CD11a/CD18) on macrophages. And when they tested Novartis’ lifitegrast, an inhibitor of ICAM-1/LFA-1 binding, they found this largely abrogates the phagocytosis of PSGL-1 knockout tumor cells, confirming PSGL1’s role in impairing prophagocytic signaling and cytoskeletal reorganization required for effective tumor-cell engulfment.
The authors went on to develop a humanized mAb against PSGL-1 and show its ability to induce phagocytosis of human tumor cells in vitro and to reduce tumor burden in mouse models of AML, T-ALL, and MM. The antibody showed a good safety profile in non-human primates with no significant toxicity at high doses. Additionally, PSGL-1 blockade synergized with chemotherapy (doxorubicin) and antibody-based therapies (anti-CD47 and anti-CD38), further underscoring the translational potential of this strategy, particularly in treatment-resistant settings.
This venture capital fund was established by a group of high-net-worth individuals in China and maintains operations in the US and China. The firm is actively seeking global investment opportunities, with a primary focus on China and the United States. Opportunities based in Canada, Germany, and Switzerland may also be considered.
The firm invests from seed and early stages through growth, with flexibility on check size for early-stage deals. For growth-stage companies, the firm typically invests $1-5M in equity in businesses with valuations up to $18-20M. Investments at earlier stages may take the form of equity or convertible notes. Thanks to an evergreen fund structure, the firm is able to take a long-term investment approach. It usually syndicates investments and seeks to partner with local co-investors, particularly for overseas deals.
The firm targets high-growth sectors, including medical devices, diagnostics (e.g., portable imaging, high-intensity ultrasound, point-of-care, molecular diagnostics), digital health (particularly connected devices, telemedicine, and patient-physician platforms relevant to the Chinese market), and consumer products, especially OTC products, nutritional and dietary supplements with proven efficacy and existing market presence.
The firm is indication-agnostic and prioritizes serial entrepreneurs and complete, well-rounded founding teams. It relies on local co-investors to play supervisory roles in international ventures.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
An investment firm headquartered in China invests in both fund-of-funds and direct equity opportunities. Life sciences and healthcare represent one of its primary focus areas, though the firm maintains a multi-sector approach. Its investment sweet spot begins at the pre-A stage and extends through to pre-IPO. While the firm primarily targets opportunities within China, it is open to global companies, particularly those seeking a soft landing in China or with a strong China angle. The firm is flexible on deal structure and is open to both leading investments and co-investments.
Within the healthcare and life sciences sector, the firm is especially interested in biotech therapeutics and medtech. On the therapeutics side, it is open to a range of modalities (excluding mRNA) and indications, with particular interest in areas such as central nervous system (CNS) disorders and oncology. On the medical device side, the firm prioritizes innovative technologies, including invasive solutions, imaging platforms, and brain-computer interfaces. It does not invest in non-innovative categories such as consumables.
The firm does not maintain strict requirements regarding the background of founding teams, though it has a strong preference for companies that are interested in expanding into Shanghai or the broader Chinese market.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
An early-stage venture capital firm focuses on deeptech innovation, with strategic emphasis on the Cleantech and Biotech sectors. The firm acknowledges the critical role that advanced materials play in promoting both planetary and human health.
The firm typically invests from Pre-Seed through Series A, with average initial allocations around USD $500k and reserves for follow-on participation. Geographically, the firm targets North America and Asia, and is also open to public-ready companies or those preparing to go public.
Within biotech, the firm seeks novel therapeutics and global health-enhancing medical breakthroughs. While broadly sector-agnostic, the firm prioritizes companies with a technology backbone. Preferred areas include: platform technologies, enabling tools for drug discovery & development, and synthetic biology
The firm is indication-agnostic, though generally less interested in infectious diseases.
There are no strict team or company prerequisites, though the firm prefers to have an investor presence on the board.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
A venture capital corporation is based in Canada with the government serving as a limited partner participates in Angel through Series A rounds, typically allocating CAD $100K to $200K for Angel rounds and CAD $500K to $1M for Pre-A and Series A rounds. It is open to co-investments and occasionally acts as a limited partner in other investment funds. The firm seeks innovative projects that align with the interests of its affiliated operating company, which specializes in immunology-based diagnostics.
In addition to direct investments, the firm in-licenses intellectual property from universities and engages in joint ventures with other partners. With its own internal management and engineering team, the firm plays an active role in helping startups enter the market and commercialize their products. The firm is open to working with companies globally.
Its core areas of interest include AI-driven digital health, medical devices, and diagnostics – particularly those involving antigen and antibody pairs. The firm favors companies that are nearing commercialization and can be integrated into its existing AI platform. A board seat is typically preferred in investments.
If you are interested in more information about this investor and other investors tracked by LSN, please email salescore@lifesciencenation.com.
Live at RESI Boston – September 17 | Westin Copley Place
By Momo Yamamoto, Senior Investor Research Analyst, LSN
For many early-stage life science companies, partnering with a major pharmaceutical firm can be a transformative milestone. Beyond capital, Big Pharma brings global reach, regulatory know-how, and commercialization muscle, opening doors that would otherwise be out of reach. But breaking through the noise and earning that opportunity requires more than a strong pitch deck.
The “Partnering with Big Pharma” panel at RESI Boston will offer a rare, inside look at how business development and licensing leaders identify and evaluate emerging innovation, including therapeutics and enabling technologies.
What Does Big Pharma Look For?
This 50-minute session will dive into the key criteria pharma decision-makers use to vet early-stage companies. From the strength of the data package and differentiation in a crowded landscape to alignment with therapeutic priorities and unmet need, the panel will shed light on how early is too early and when is just right to engage.
Attendees will also gain insight into how large pharma teams structure search & evaluation processes, how red flags are interpreted, and what signals strong partnership potential.
Moderated by Jeremy Sohn, Managing Partner at P74 Ventures, this conversation brings together key voices shaping pharma’s external innovation strategy:
Jeremy SohnManaging Partner P74 Ventures
(Moderator)
Hyelim ChoSenior Director, BD and Alliance Management RayzeBio
(a Bristol Myers Squibb company)
Nikhil MutyalHead of Search and Evaluation, Respiratory and Immunology AstraZeneca
Armin RumpDirector of Global Business Development Otsuka Pharmaceutical Co., Ltd.
These leaders are actively scouting for high-impact innovations and will share how their organizations assess risk, potential, and fit in a rapidly evolving landscape. You will hear how shifting trends are reshaping pharma’s partnering approach, and what startups can do to stand out in a competitive environment.
Whether you are aiming for a strategic investment, licensing deal, or co-development partnership, this panel offers direct access to the minds shaping pharma’s innovation agenda. Founders, BD professionals, and investors alike will walk away with actionable insights into what it takes to get – and stay on – Big Pharma’s radar.
The firm is focused on therapeutics companies and does not invest in medical devices, diagnostics, or digital health. The firm is open to considering assets of very early stages, even those as early as lead optimization phase. The firm considers various modalities, including antibodies, small molecules, and cell therapy. Currently, the firm is not interested in gene therapy. Indication-wise, the firm is most interested in oncology and autoimmune diseases but has recently looked at fibrotic diseases and certain rare diseases as well.
The firm is opportunistic across all subsectors of healthcare. Within MedTech, the firm is most interested in medical devices, artificial intelligence, robotics, and mobile health. The firm is seeking post-prototype innovations that are FDA cleared or are close to receiving clearance. Within therapeutics, the firm is interested in therapeutics for large disease markets such as oncology, neurology, and metabolic diseases. The firm is open to all modalities with a special interest in immunotherapy and cell therapy.
A strategic investment firm of a large global pharmaceutical makes investments ranging from $5 million to $30 million, acting either as a sole investor or within a syndicate. The firm is open to considering therapeutic opportunities globally, but only if the company is pursuing a market opportunity in the USA and is in dialogue with the US FDA.
The firm is currently looking for new investment opportunities in enterprise software, medical devices, and the healthcare IT space. The firm will invest in 510k devices and healthcare IT companies, and it is very opportunistic in terms of indications. In the past, the firm was active in medical device companies developing dental devices, endovascular innovation devices, and women’s health devices.
A venture capital firm founded in 2005 has multiple offices throughout Asia, New York, and San Diego. The firm has closed its fifth fund in 2017 and is currently raising a sixth fund, which the firm is targeting to be the largest fund to date. The firm continues to actively seek investment opportunities across a […]
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