2021-06-24
China delivered strong macro-economic recovery during the first quarter of 2021, with its GDP grew 18.3% yoy. The quarterly value of domestic financing activities and public-market listing grew 185.8% and 124.6% yoy respectively. The HKEx delivered nearly half (49.9%) of the total IPO financing value of Chinese companies during the quarter. 72 Chinese biopharma companies raised over CNY18billion in financing with total valuation exceeding CNY200billion. Biotech/life science/healthcare IPOs placed top（23）and second (CNY29.6billion) respectively in China’s total IPO counts and value during the quarter.
中国的宏观经济在2021年第一季度恢复强劲，GDP与去年同比增长18.3%。当季国内融资活动和新股上市分别较去年同比增长185.8% 和124.6%。本季度中，香港证券交易所贡献了中国企业近半（49.9%）的IPO融资额。72家中国生物制药公司募资总额逾180亿人民币，其对应总估值超过2000亿人民币。生物科技/生命科学/医疗健康企业在本季度中国IPO融资总数和总额中分别排名第一（23家）和第二（296亿人民币）。
BOCG kicked off 2021 with the successful January closing of Shenzhen BioResearch Investment Fund L.P. targeting innovative biotech companies, with CNY70 million deployed into Shandong Boan Biotechnology Co Ltd (“Boan”). Founded in 2013 and subsidiary of Luye Pharma Group (2186.HK), Boan specializes in therapeutic antibody development around oncology, immunology, pain and endocrine diseases, with presence in China, US and Europe. Boan plans to be spined off from Luye in the middle of 2021 and subsequently IPOed on the STAR Market.
伴随着聚焦创新生物科技投资的深圳柏奥瑞思基金在今年1月份的圆满关闭，蓝海资本迈开了2021年成功的第一步并注资7000万人民币与山东博安生物技术有限公司 (“博安”)。作为港股上市公司绿叶制药集团（2186.HK）的子公司，成立于2013年的博安是一家全面综合性生物制药公司，专业从事治疗用抗体开发，专注于肿瘤科、自身免疫、疼痛和内分泌疾病。布局中国、美国及欧盟市场。博安计划将在2021年年中从绿叶制药集团拆分后在科创板上市。
- Boan’s Nivolumab Injection LY01015 received approval from the Center for Drug Evaluation of the China National Medical Products Administration to start clinical trial. As the world's first PD-1 immune checkpoint inhibitor, Nivolumab Injection has become a key option for treating multiple types of cancers, with over ten indications globally.
- 博安开发的纳武利尤单抗注射液（LY01015）的临床试验申请已获得国家药品监督管理局药品审评中心的受理。作为全球首个获得监管机构批准的PD-1免疫检查点抑制剂，纳武利尤单抗注射液已成为治疗多种肿瘤的重要选择，且在全球范围内拥有十多项适应症。
- Asymchem (002821), leader in providing R&D and one-stop production services to the world’s top pharmaceutical companies, will fully support Ribo Life Science (“Ribo”)’s development needs via a BOT (Build-Operate-Transfer) model.
- 为全球顶级制药公司提供研发和一站式生产服务的领军企业凯莱英医药集团（002821）将通过BOT服务模式全力支持瑞博生物技术股份有限公司（“瑞博”）的研发需求。
- HighTide Therapeutics (“Hightide”) appointed Leigh MacConell as Chief Development Officer to lead its global clinical development, regulatory and quality functions to advance the company’s pipeline. Dr. MacConell comes with over 20 years of drug discovery and development experience, having served as Senior Vice President, Clinical Development at Intercept Pharmaceuticals most recently.
- 君圣泰生物技术有限公司 (“君圣泰”) 宣布任命Leigh MacConell为首席开发官来领导公司的全球临床开发、监管和质量控制，从而推动公司产品管线的进展。MacConell博士拥有20多年的药物研究和开发经验，曾担任美国生物制药公司Intercept Pharmaceuticals的临床开发部高级副总裁。
- All of our portfolio companies received recognition at the 5th annual “Future Healthcare VB100 List” published by VCBeat, which ranks innovative private healthcare companies based on valuation, human resources, intellectual property, strategic partnership, and market performance, Boan, Ribo, and HighTide placed 10th, 24th and 30th respectively out of China’s Top 100 Innovative Biomedicine Companies. For the complete list, please click: 2020-2021 Future Healthcare VB100 Companies Growth Report: Data Report to Interpret the Computing of Life.
- 蓝海现有的投资组合成员公司均荣登第五届动脉网 “未来医疗100强”榜单。该榜单基于估值状况、人力资源、知识产权、战略合作伙伴、市场表现等维度对创新医疗健康领域的未上市企业进行遴选。博安, 瑞博和君圣泰在中国创新医药公司100强中分别位列第10、第24和第30。完整榜单信息请点击：2020-2021未来医疗100强企业成长报告：数据报告解读生命的计算.
- In addition, as all three portfolio companies have started preparing for their respective IPO listings over the next 24 months, BOCG has been offering capital market advice and recommending cornerstone investors to the management teams as part of our value creation.
- 此外，这三家公司均已开始筹备在未来24个月内里IPO。作为投后价值赋能工作的一部分，蓝海积极向他们提供资本市场建议，并向公司管理团队引荐上市基石投资者。
NEW INITIATIVES
In February and April respectively, under BOCG’s internal carried interest scheme which embodies best practices from leading international and domestic private equity houses, core team members received formal certificates of carry distribution recognizing their individual contributions on related investments.
新动向
在今年2月和4月，根据公司参考国内外头部私募股权基金所内部设置的超额收益激励机制，核心团队成员被颁发了《超额收益授予函》，用以表彰他们对相关投资项目的卓越贡献。
Beside focusing on the core innovative bio pharmaceuticals, our robust deal pipeline also includes attractive targets in CRO, diagnostics, medical device/IVD etc. We also launched our English dataroom in March containing representative information showcasing BOCG’s institutional credentials and track records. Our overall investment approach remains research and partnership-driven, dual-currency, mid to late stage around select healthcare sub-sectors and geographic regions, and we endeavor to differentiate our blue ocean strategy via specialization, institutionalization, and proven track record and performance.
除了聚焦核心生物创新药业，我们丰富的项目管线还包括来自CRO（医药合同研究组织）、医疗检测设备、医疗设备/体外检测设备等赛道的优质投资标的。我们在3月还开启了线上英文尽调资料库，展示了蓝海团队资历和业绩记录的代表性信息。我们的整体投资方式仍将保持由研究以及合作伙伴驱动、双币属性、围绕发展中后期阶段的精选大健康细分领域以及特定地区机遇，致力于透过专业化、机构化、以及业绩表现而令我们的蓝海策略独占鳌头。
