Beta Pharma Raises Hundreds of Millions in Industrial Fund to Build 'Dream Workshop' and Foster a Comprehensive Big Health Innovation Ecosystem

VCBeat News (WeChat ID: biobeat1) reported that on April 25, the 2019 Betta Biopharmaceutical Investment and Development Forum was grandly held at the Renaissance Hangzhou Yuhang Hotel.

Zhou Jianhua, Deputy District Mayor of the Yuhang District People’s Government in Hangzhou; Jiang Saiping, a member of the Party Leadership Group of the Yuhang District People’s Government; Dr. Ding Lieming, Chairman and CEO of Betta Pharmaceuticals and founder of Betta Fund; and Chen Guojian, Vice Chairman and General Manager of Hangzhou Yuhang Financial Holding Group, attended the event. They joined industry elites—including corporate representatives from the pharmaceutical innovation sector, leading investment and financing institutions, and senior securities analysts—in Yuhang to discuss hot topics in biomedical industry investment and development, and to witness the signing ceremony for the strategic cooperation of the Betta Biopharmaceutical Industry Fund. VCBeat News dispatched reporters to cover the event in its entirety and provide on-site reporting.

Betta Biopharmaceutical Industry Fund Strategic Cooperation Signing Ceremony

Betta Bio-Pharmaceutical Industry Fund was established in early 2018, with Dr. Ding Lieming, Chairman and CEO of Betta Pharmaceuticals, among its principal founders. Focusing on the broader healthcare sector, the fund prioritizes investments in biopharmaceuticals, in vitro diagnostics, and innovative medical devices. Anchored by leading industry experts and prominent figures in the pharmaceutical sector, the fund leverages its core team’s extensive experience and resources in R&D and commercialization to provide comprehensive, stage-spanning support to its portfolio companies.

In his address, Deputy District Mayor Zhou Jianhua stated that with the deepening of a series of institutional reforms, the biomedical industry has ushered in new development opportunities. Hangzhou has proposed to focus on building an industrial layout of “One Core, Three Parks, and Multiple Points.” As one of the three key industrial parks under priority development, Yuhang District has seen increasingly mature conditions for developing the general health industry, boasting robust platforms, a solid industrial foundation, and clear planning directions. Meanwhile, leading enterprises such as Betta Pharmaceuticals and Nurotron, which have won First and Second Prizes of the National Science and Technology Progress Award, have emerged. The district is now home to more than 8,700 legal entities engaged in or involved with the health industry.

Deputy District Mayor Zhou Jianhua stated that the event has brought together top experts, scholars, and renowned entrepreneurs from the pharmaceutical industry across Zhejiang Province and even nationwide. He expressed the hope that this conference would introduce cutting-edge technologies and emerging trends in global biopharmaceuticals and medical devices to Yuhang, facilitate collaboration with local industrial enterprises, deepen exchanges, promote innovative integration, and jointly seize the significant opportunities for the substantial development of Zhejiang’s pharmaceutical industry.

Dr. Ding Lieming first extended his heartfelt gratitude and warm welcome to all the leaders and guests in attendance. Dr. Ding stated that the biopharmaceutical industry is a strategic emerging sector vital to national welfare and people’s livelihoods, and a key domain for cultivating core competitiveness in scientific and technological innovation. In recent years, the CPC Central Committee and the State Council have attached great importance to the development of the biopharmaceutical industry, issuing a series of policy documents to guide and encourage innovative development within the sector, thereby further strengthening the confidence and determination of those engaged in new drug research and development.

As a fertile ground for innovation and entrepreneurship in the biopharmaceutical sector, Yuhang has prioritized this field as a key advantage to cultivate and develop. “The achievements of Betta Pharmaceuticals are the most vivid reflection of Yuhang’s innovative development in the pharmaceutical industry.” Dr. Ding fondly recalled that during the R&D process of icotinib, the company faced a severe financial crisis. The District Committee and District Government came to their aid with timely financial support, helping Betta overcome its difficulties and ensuring the smooth progress of icotinib’s clinical trials.

Address by Dr. Ding Lieming, Chairman and CEO of Betta Pharmaceuticals

Overcoming Challenges, Accumulating Experience. Dr. Ding stated that the development and growth of Betta Pharmaceuticals would not have been possible without the assistance and financial support from government departments at all levels and financial institutions, which fully reflects the critical role of capital in new drug research and development. During its development, Betta has also come to deeply recognize that, due to the unique nature of the pharmaceutical innovation industry, there is a particular need for professional expertise, funding, and platform support.

In recent years, while accelerating its own development, Betta Pharmaceuticals has also been committed to facilitating the industrialization of innovative projects and helping scientists realize their entrepreneurial dreams. With strong support from the district committee and district government, Betta established Betta Dream Factory, a professional biomedical incubation park that provides comprehensive support for innovation and entrepreneurship initiatives. Meanwhile, it took the lead in establishing the Betta Biopharmaceutical Industry Fund.

Dr. Ding expressed his hope that Betta Fund would take this collaboration as an opportunity and a starting point to deepen and strengthen cooperation across broader fields and more projects. He emphasized the joint commitment to developing more accessible and affordable high-quality medicines for the public, driving deeper transformation and higher-quality development of the pharmaceutical industry in Yuhang District, and ultimately achieving the original goal of win-win cooperation.

At this forum, eight institutions—including the Betta Biopharmaceutical Industry Fund, Hangzhou Yuhang Financial Holding Group Co., Ltd., Bank of Hangzhou Co., Ltd., Zhejiang Zheshang Innovation Capital Management Co., Ltd., Paradise Silicon Valley Asset Management Group Co., Ltd., Hangzhou High-Tech Investment Co., Ltd., Yanyuan Capital Group, and Zhejiang Dream Town Investment Development Co., Ltd.—jointly signed the Strategic Cooperation Agreement to establish strategic partnerships and commit to fostering the growth and development of innovative biopharmaceutical projects.

Subsequently, Ms. Yu Wenxin, Managing Director and Chief Analyst of the Healthcare Sector at Haitong Securities, along with corporate representatives from the pharmaceutical innovation field—Dr. Tong Youzhi, Chairman of Suzhou Kintor Pharmaceuticals, Inc.; Dr. Li Feng, Chairman of Beijing TGR Biotech Co., Ltd.; and Dr. Xiong Hui, Chairman of Shanghai Ruian Gene Technology Co., Ltd.—delivered insightful and substantive presentations on “The Growth of Domestic Innovative Drugs,” “Current Status and Development Trends in the Healthcare Industry,” “Development and Opportunities in the Antibody Drug Industry,” and “Hot Topics in China’s Molecular Diagnostic Reagent Market,” respectively.

During the roundtable forum themed “Integration of Industry and Finance to Empower Innovation,” Dr. Ding Lieming, Chairman Chen Guojian, Zhang Bin (Vice President of Zheshang Innovation), He Xiangdong (Chairman of Paradise Silicon Valley), Zhou Kaibing (Chairman of Hangzhou High-Tech Investment), and Liu Zeng (President of Yanyuan Capital Group) engaged in a lively discussion on how capital can support innovative development in the biopharmaceutical sector. The session was moderated by Dr. Zhu Lingyu, Vice President of Betta Pharmaceuticals and General Manager of Beta Dreamworks.

During the roundtable forum themed “Gaining Industry Insights, Pioneering New Frontiers,” Professor Mao Li, Senior Vice President of Betta Pharmaceuticals; Dr. Tong Youzhi; Dr. Li Feng; Dr. Xiong Hui; Dr. Zhao Yongxin, President of Hangzhou Duoxi Biotechnology; and Dr. Liang Congxin, Chief Pharmacist of Betta Pharmaceuticals, shared their outlook on innovation in the biopharmaceutical sector.

Forging Ahead Together, Pioneering New Horizons. Co-hosted by Betta Fund and Yuhang Financial Holdings Group, this forum will further promote the timely and effective translation of scientific research achievements, enable industrial capital to better serve pharmaceutical innovation, and help more scientists realize their dreams of innovation and entrepreneurship in China.