CF PharmTech, Inc. Raises USD $65 Million to Accelerate the Development of Company's Inhalation Products and Manufacturing Capacity to Global Market
SUZHOU, China, Aug. 28, 2017 /PRNewswire/ -- CF PharmTech, Inc. ("CF PharmTech"), a leading specialty pharmaceutical company that develops and manufactures inhalation products, announced today that it has raised $65M in a Series D financing. Future Industry Investment Fund, a private equity fund managed by SDIC Fund Management Corporation Limited ("SDIC Fund Management"), led the financing along with other prestigious healthcare investment groups in China.
CF PharmTech, founded by seasoned industry experts and entrepreneurs with a successful track record in the US pharmaceutical industry, is focused on the development, manufacturing and commercialization of high-quality inhalation products for the global market. Since its inception, CF PharmTech has established state-of-art research and manufacturing facilities to advance its product development. This new round of investment will not only expedite the submission of its product pipeline to meet regulatory approvals in China and abroad, but also expand its CDMO service to international clients.
Mr. Hai Lu, Managing Director of SDIC Fund Management, commented: "Drug delivery via pulmonary route bears significant technical challenges and it takes extraordinary effort to bring inhalation products to the market. CF PharmTech's high caliber team has proved their ability to attract top industry talents to develop inhalation products for the global market. We are confident that they will achieve their business mission in the near future."
CF PharmTech, headquartered in Suzhou, China, develops metered dose inhaler, inhalation powder, nasal spray and blow-fill-seal products. It has established high-quality research and manufacturing environments to be compliant with US, EU and Chinese regulations. CF PharmTech aims to provide quality and cost-effective inhalation products for domestic market, and seeks strategic partnerships to co-develop and commercialize its products globally.
About SDIC Fund Management Corporation Limited
Established in July 2009, SDIC Fund Management Corporation Limited is an independent, professional private equity firm. It currently manages and advises more than RMB 50 billion of capital for a wide range of institutional investors including financial institutions, pension funds, and state-owned and private capital. SDIC Fund Management Corporation Limited is one of the largest, professional private equity fund managers in China. The core strategy of SDIC Fund Management is to invest in market leading companies with attractive growth prospects and outstanding management teams.
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