Why China: Value Density and Growth Logic of Healthcare Investment in China — Transaction Roundtable Session XV of the China Innovative Healthcare Assets Salon

B.S. in Biology, Ph.D. in Molecular Biology from Shanghai Jiao Tong University; MBA from Tsinghua University; Senior Engineer; Member of BAYHELIX; Judge for the Top 50 Biotech Innovation Enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area.

Deeply engaged in strategic investments in healthcare and wellness. Previously served as General Manager of Industrial Development at Sinopharm Investment, the financial investment platform of China National Pharmaceutical Group (Sinopharm); Senior Investment Director at Shanghai Modern Pharmaceutical Co., Ltd. (Stock Code: 600420); and Head of External R&D and Collaborations for Eli Lilly and Company’s Asia-Pacific region.

Dr. Deng has over a decade of experience in R&D, business development, and investment and financing within the biopharmaceutical industry. He possesses keen industry insights, an extensive professional network and resources, as well as rich experience in investment and post-investment value creation. Currently, at Mifang Health Fund, he is overall responsible for strategizing the company’s new drug investment direction and overseeing investment operations, while also managing the full lifecycle—fundraising, investment, management, and exit—of the company’s USD-denominated fund. His previous investment portfolio includes Beijing InnoCare Pharma (9969.HK, 688428.SS), Nanjing WellBiologics (9887.HK), Hangzhou Gaoguang, Shanghai Anlingke, Shanghai Zhuanma, Shanghai Tianyikang, and Suzhou Aikelian.

Joined Aoyin Capital in 2016, successively serving as Head of Investment Management, Vice President of Operations, and Co-President. Possesses a multidisciplinary background in finance, accounting, and law, with over ten years of experience in the venture capital industry. Previously worked at a publicly listed company, responsible for financial analysis and industry research. Brings comprehensive operational expertise in venture capital firms and practical experience in fund investment exits. Proficient in the full spectrum of business processes, including investment decision-making, due diligence, project management, and exit strategies. Specially appointed as a course mentor at Zero2IPO Research Institute’s Investment Academy.

Previously managed investment projects include Sanli Spectrum (002676), STEP Electric (002527), Jiaxun Feihong (300213), Yongwei Security, Pudan Optoelectronics, Zhenluo Technology, Mingyou Network, Funike, Jinrui Biotech, Renchen Biotech, Kunshi Biotech, and Anjikaer.

Honored with titles including “Top 20 Direct Investment Fund Investors in 2022,” “China’s Outstanding Female Investors (2023–2024),” “China’s Best U40 Young Investors in 2025,” and “Pioneer Partner of the Post-80s Generation.”

Graduated from the Department of Biomedical Engineering at Huazhong University of Science and Technology, holds a Master’s degree in Biostatistics from Harvard University and a Ph.D. in Neuropharmacology from the Medical College of Georgia. CurrentlyResponsible for medical consumablesEisai's Global Biopharmaceutical Strategic Investment.

Responsible for global healthcare venture capital investments at MSA Capital, and previously founded Skinome, a dermatology diagnostics company funded by Y Combinator (YC). Has invested in more than 25 biopharmaceutical and healthcare companies worldwide, including Zhiyun Health (HKG: 9955), Yanming Biologics, eGenesis (a global leader in porcine organ xenotransplantation), Tune Therapeutics (a global leader in epigenetic editing), Iambic Therapeutics (the first clinical-stage pharmaceutical company leveraging physics-based generative AI), RiboX Therapeutics (the world’s first circular RNA company to enter clinical trials), and ProTgen (a company focused on thymus regeneration and immune reconstitution).