News

GIC tops $125.5 million fundraising in Chinese biotech Burning Rock

BiotechnologyChinese biotech company Burning Rock closed another round of funding to the tune of RMB 850 million ($125.5 million), with Singapore’s GIC leading the financing. Additional investors include LYFE Capital, CMB International Capital, Lilly Asia Ventures, Sequoia Capital China and T&Brothers Capital. It follows the series B fundraising round, which was held in 2016 and raised RMB 300 million. The funds will be mainly directed towards early cancer detection product development and sales and marketing force expansion for the companion diagnostics business, Burning Rock said in a statement. The Guangzhou-based firm has three core businesses that include cancer patient companion diagnostics, early cancer detection and cancer genome big data ecosystem. "As a long-term investor, we believe in the adoption of precision medicine in the future of cancer treatment and seek to work with leading players in the field to provide better treatment for cancer patients,” said Choo Yong Cheen, chief investment officer of private equity at GIC. “Since its inception, Burning Rock has built a strong team with extensive experiences in R&D, sales and marketing. We hope Burning Rock to continue to uphold its standards and achieve more breakthroughs in cancer screening and diagnostics,” he added. The size of GIC’s investment in the latest round of funding has not been disclosed. ©2019 funds global asia

Industry comments

Investing in tomorrow’s world

investmentAt times like these, HSBC Asset Management easily pivots towards emerging markets.

The spotlight on growth markets and the need to be nimble and dynamic is ever-sharper, given the difficulty in predicting monetary policy in the world’s major nations.

Sponsored feature: Navigating the complexities of FX execution and currency risk

A comprehensive, cost-effective, and transparent currency overlay hedging solution is crucial to mitigate FX exposure risks in the complex landscapes of Japan and China's FX markets, explains Hans Jacob Feder, PhD, global head of FX services at MUFG Investor Services.

Opinion

Transitioning to an era of scarcity

The world is transitioning from an era of commodity abundance to one of undersupply. Ben Ross and Tyler Rosenlicht of Cohen & Steers believe this shift may result in significant returns for commodities and resource producers over the next decade.

Asia credit: An outsized winner in the region’s energy transition?

Ross Dilkes, fixed income portfolio manager at Wellington Management, examines the opportunities and risks for bond investors presented by the region’s decarbonisation agenda.

A quiet revolution in Japan’s corporate governance

revolution, Japan, corporate governance, Shareholders, corporate, governance, standards, improvement, Tetsuro Takase, SuMi TrustShareholders in Japan no longer accept below-par corporate governance standards. Changes are taking place, but there are still areas for improvement, says Tetsuro Takase at SuMi Trust.

Why rising demand for healthcare is creating investment opportunities in China

rising demand, healthcare, investment, opportunities, China, Robert St Clair, Investment Strategy, Fullerton Fund ManagementRobert St Clair, head of investment strategy at Fullerton Fund Management, explores the reasons investors should be paying attention to the rising demand for healthcare in China.

Executive Interviews

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as...

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Roundtables

India: An “obvious choice for global investors”

Jun 22, 2023

Funds Europe, the sister publication of Funds Global Asia, hosted an India investment discussion with two seasoned experts and asked if India is the ‘last one standing’ from the Brics phenomenon. We also hear that for India, the inclusion of Indian bonds in a major index may not be the desired...

Roundtable: Singapore comes of age as an Asian ESG hub

Dec 01, 2021

Strong ESG credentials strengthen the case for Singapore as a leader in Asia of the post-Covid recovery. Our panel discusses the risks and opportunities.