Nuance Biotech, a Shangai, China-based specialty pharmaceutical company, raised US$20m in Series B funding.
The round was led by C-Bridge Capital. An additional US$15m out of the total were tied to the acquisition of new pharmaceutical products by leveraging C-Bridge Capital’s global network to identify high-value licensing opportunities with innovative global pharmaceutical and biotech companies.
In conjunction with the funding, Neo Zhang, Managing Director of C-Bridge Capital, will join the board of Nuance.
Established in 2014 and led by Mark Lotter, Chief Executive Officer, Nuance Biotech is a specialty pharmaceutical company which has built a portfolio that includes products that are already commercialized or in registration with the China Food and Drug Administration, along with a pipeline of drug candidates in clinical development.
The C-Bridge-Nuance partnership has already brought to the recently announced agreement between Nuance and US-based Pacira Pharmaceuticals to advance the development and commercialization in China of Pacira’s EXPAREL® (bupivacaine liposome injectable suspension), a non-opioid agent approved in the US to provide long-lasting pain control after surgery.
C-Bridge identified the opportunity to partner with Pacira and facilitated the licensing agreement.