BVCF

BVCF is a venture capital firm established in 2005, recognized as the first international private equity firm dedicated to investing in China's life sciences sector. Founded by Dr. Zhi Yang, BVCF aims to play a pivotal role in advancing China's life sciences through strategic investments. The firm focuses on a broad range of areas within healthcare, including healthcare services, innovative biologics, in-vitro diagnostics, high-value medical equipment, and medical big data and mobile medicine. With a commitment to leveraging its domain expertise, BVCF invests primarily in China while also engaging in opportunities across the United States, positioning itself as a key player in the evolving landscape of life sciences in China.

Zhi Yang

Founder and Managing Partner

26 past transactions

Qiselian Biotechnology

Seed Round in 2025
Qiselian Biotech focuses on personalized cell therapy and anti-aging. Based on the new generation of induced pluripotent stem cell (iPSC) technology, it develops innovative products and services for autologous cell therapy, regenerative medicine and health management.

VivaLnk

Venture Round in 2023
VivaLnk specializes in connected healthcare solutions for both inpatient and remote patient monitoring. Its portfolio comprises medical-grade wearable devices and data analytics applications, continuously tracking individuals' health and well-being.

Cellenkos

Series A in 2021
Cellenkos is a clinical-stage biotechnology company focused on developing allogeneic regulatory T cell therapies to treat autoimmune and inflammatory diseases. It emphasizes off-the-shelf Treg cells derived from umbilical cord blood, which can be cryopreserved and infused across the HLA barrier to address dysregulated immune responses. The approach aims to resolve unwanted inflammation and restore immune homeostasis, with potential applications in conditions such as aplastic anemia, myelofibrosis, and amyotrophic lateral sclerosis.

Oculis Holding

Series C in 2021
Oculis Holding AG is a global biopharmaceutical company focused on advancing eye care and preserving vision. The company has developed a novel drug delivery platform that enhances the absorption of therapeutics to both the anterior and posterior segments of the eye. This innovative approach enables the treatment of posterior eye diseases, such as diabetic macular edema, through a simple topical application, thus offering a non-invasive alternative to traditional methods. Oculis's product pipeline includes OCS-01, a topical treatment for diabetic macular edema; OCS-02, a topical biologic for dry eye disease; and OCS-05, a disease-modifying candidate targeting acute optic neuritis and other neuro-ophthalmic disorders, including glaucoma and diabetic retinopathy. Through its cutting-edge technologies and therapeutic candidates, Oculis aims to significantly improve patient outcomes in the field of ophthalmology.

Drug Farm

Series A in 2021
Drug Farm Inc. is a biotech company based in Shanghai, China, engaged in the development of innovative drugs and technologies for metabolic diseases such as obesity, diabetes, and fatty liver, as well as targeting innate immunity for conditions like HBV, cancer, and autoimmune diseases. The company employs its unique IDInVivo platform, which integrates advanced genetics and artificial intelligence to identify novel drug targets through genetic screens in living animals with intact immune systems. By leveraging various AI methodologies, including supervised learning, active learning, and reinforcement learning, Drug Farm aims to accelerate the medicinal chemistry development process, ultimately striving to deliver first-in-class therapeutic solutions to the healthcare industry.

Boan Biotech

Series A in 2021
Boan Biotech is a biopharmaceutical company focused on developing therapeutic antibodies for oncology, metabolism, autoimmunity, and ophthalmology. It conducts development, manufacturing, and commercialization of biologics and serves customers in China and international markets, with operations based in Shandong, China.

GenEros Biopharma

Venture Round in 2021
GenEros Biopharma is a biopharmaceutical company that develops autoimmune and anti-inflammation therapeutics.

Seinda

Seed Round in 2020
Seinda is a company focused on developing innovative ophthalmic diagnostic technology. It designs point-of-care diagnosis platforms, diagnostic kits, testing machinery, and therapeutics specifically for ophthalmic disorders, including Dry Eye Disease. By establishing an open ophthalmic omics platform, Seinda conducts research into the molecular mechanisms of eye diseases, aiming to enhance healthcare professionals' ability to identify and treat patients effectively. The company is dedicated to meeting clinical needs and aims to create high-quality diagnostic and treatment products, ultimately aspiring to build a leading Chinese brand in the ophthalmic sector.

BioNTech

Series B in 2019
BioNTech is a Germany-based biotechnology company focused on developing cancer therapeutics and vaccines for infectious diseases. Its portfolio includes mRNA-based therapies to encode antigens and neoantigens, cytokines, and antibodies; cell therapies; bispecific antibodies; and antibody-drug conjugates. The company maintains an oncology pipeline and collaborates on vaccines for infectious diseases, including a COVID-19 vaccine developed with Pfizer.

AcuVu

Venture Round in 2019
AcuVu develops an endoscopy platform that makes diagnostic and surgical endoscopy procedures easy to perform and reduces the medical cost. In addition, the platform's high-quality digital imaging can be transmitted through high-speed Internet that provides tools for remote medical diagnostic.

Wekair

Venture Round in 2019
Wekair specializes in intervention services for children diagnosed with Autism Spectrum Disorder (ASD), ADHD, language learning disorder, and other developmental conditions. They offer an online platform for ASD screening, computer-aided diagnosis tools for healthcare professionals, personalized consultations, and community support resources for families affected by these disorders.

Stealth BioTherapeutics

Convertible Note in 2018
Stealth BioTherapeutics is a clinical-stage biotechnology company dedicated to the discovery, development, and commercialization of innovative therapies targeting diseases associated with mitochondrial dysfunction. Founded in 2006 and headquartered in George Town, the Cayman Islands, the company’s lead product candidate, Elamipretide, aims to address both rare genetic and common age-related mitochondrial diseases. Additionally, Stealth BioTherapeutics is developing SBT-20, a small peptide designed to stabilize mitochondrial structure and function under oxidative stress, and SBT-272, which is being evaluated for its potential in treating rare neurodegenerative disorders, including amyotrophic lateral sclerosis. By focusing on mitochondrial health, Stealth BioTherapeutics seeks to improve outcomes for patients suffering from these challenging conditions.

MicuRx Pharmaceuticals

Series D in 2017
Founded in 2007, MicuRx Pharmaceuticals discovers and develops novel antibiotics to combat drug-resistant bacterial infections. Its pipeline includes MRX-I, an oral antibiotic for gram-positive infections, MRX-IV for intravenous use, MRX-V for gram-negative bacteria, and MRX-VIII, a polymyxin for gram-negative infections. The company operates under a hybrid U.S./China business model.

Genova

Corporate Round in 2017
Genova (Changzhou) Biotechnology Co., Ltd. is a biotechnology company based in Changzhou, China, specializing in the development and manufacturing of insulin products. The company is dedicated to producing advanced insulin formulations aimed at treating diabetes, cardiovascular, and cerebrovascular diseases, as well as tumors. Genova focuses on providing third-generation insulin drugs to enhance patient care and improve treatment outcomes.

Jiyuan Biotechnology

Venture Round in 2017
Jiyuan Biotechnology is a biotechnology company focusing on the use of stem cell technology for unmet medical needs. The company focuses on innovative therapeutics gene-therapy development, high-end hospital medical service, and stem cell research. Jiyuan Biotechnology provides personalized medicine and high-end specialty healthcare in key fields including diabetes, cardiovascular diseases, and oncology.

Eucure Biopharma

Series A in 2017
Eucure Biopharma, established in 2016 and headquartered in Beijing, China, is a biotechnology company focused on the discovery and development of innovative immuno-oncology targeted antibodies. Its pipeline comprises eight drug candidates, primarily targeting immune checkpoints, with several in the clinical trial application stage. The company offers services such as antibody production, in vivo and in vitro drug efficacy testing, and aims to improve the survival rate of tumor patients by developing effective antibody treatments.

Eucure Biopharma

Series A in 2016
Eucure Biopharma, established in 2016 and headquartered in Beijing, China, is a biotechnology company focused on the discovery and development of innovative immuno-oncology targeted antibodies. Its pipeline comprises eight drug candidates, primarily targeting immune checkpoints, with several in the clinical trial application stage. The company offers services such as antibody production, in vivo and in vitro drug efficacy testing, and aims to improve the survival rate of tumor patients by developing effective antibody treatments.

Yidu Healthcare

Venture Round in 2016
Yidu Healthcare is a medical big-data company that develops a data intelligence infrastructure. Yidu Healthcare's platform processes multi-source healthcare data, generates full life cycle medical data of patients which can be traced and supervised, and builds real-world disease models by in-depth processing and analysis. It enables effective policy-making and precise healthcare regulations, efficient clinical research and effective hospital management, improved life sciences R&D and commercialization effectiveness, and intelligent personal health management.

ASLAN Pharmaceuticals

Series C in 2015
ASLAN Pharmaceuticals, established in 2010 and based in Singapore, is a clinical-stage biopharmaceutical company focused on immunology and oncology. It develops innovative treatments, including a monoclonal therapy for atopic dermatitis and a small molecule inhibitor for cancer, aiming to transform patients' lives. The company collaborates with prominent pharmaceutical partners and operates as a subsidiary of ASLAN Pharmaceuticals Limited.

DiaCarta

Series A in 2015
DiaCarta Inc. is a Richmond, California-based company specializing in translational genomics and personalized diagnostics. Founded in 2011, DiaCarta develops advanced detection technologies and diagnostic solutions, particularly in the field of oncology. The company offers a variety of highly sensitive tests, including QClamp-based gene mutation tests for biomarkers such as KRAS, NRAS, EGFR, and BRAF, along with HPV E6/E7 mRNA tests for cervical and head-neck cancers. Its product lineup includes PCR-ready lysis kits, cancer biomarker detection kits, and various assay development services. DiaCarta's solutions are utilized by hospitals, cancer clinical laboratories, and biotechnology firms to enhance patient care and support clinical research. The company markets its products through distributors across several countries, including Chile, India, and Turkey.

CARsgen Therapeutics

Series A in 2014
CARsgen Therapeutics, Ltd. is a clinical-stage biopharmaceutical company specializing in the development of chimeric antigen receptor T-cell (CAR-T) therapeutics for cancer treatment. Based in Shanghai, China, the company focuses on innovative immunotherapy solutions that harness the body's immune system to target and eliminate cancer cells. CARsgen's CAR-T technology is designed to direct T cells to recognize and attack tumors based on specific cell surface proteins, targeting conditions such as hepatocellular carcinoma (HCC) and lung squamous cell carcinoma, among others. The company has made significant advancements in CAR-T development, including the completion of the world's first dose-ascending injection tests for HCC and exclusive trials for glioblastoma multiforme in China. Through partnerships with notable institutions like the Shanghai Cancer Institute and Shanghai Renji Hospital, CARsgen Therapeutics aims to position itself at the forefront of cancer therapeutics both in China and internationally.

Jaguar Health

Series A in 2014
Jaguar Health is a pharmaceutical company focused on developing and commercializing plant-based medicines for gastrointestinal (GI) diseases in humans and animals. Its primary product, Mytesi, is a first-in-class anti-secretory agent approved for managing HIV/AIDS-related diarrhea. Jaguar Health operates through two segments: Human Health, which generates most of its revenue, and Animal Health. The company's pipeline includes products like crofelemer for cancer therapy-related diarrhea and short bowel syndrome, as well as animal health products such as Canalevia for chemotherapy-induced diarrhea in dogs. Headquartered in San Francisco, California, Jaguar Health aims to address urgent global health needs with its plant-based prescription medicines.

Kunshan RiboQuark Pharmaceutical Technology

Series A in 2014
Kunshan RiboQuark Pharmaceutical Technology Co., Ltd. develops siRNA based preclinical drug candidates. Its products include QPI-1007, an ocular neuroprotectant. The company also develops siRNA-based cosmetic product for the prevention of hair loss. The company was founded in 2012 and is based in Kunshan, China.

Suzhou Ribo Life Science

Series A in 2014
Suzhou Ribo Life Science focuses on developing nucleic acid therapeutics using RNA interference (RNAi) technology. The company advances RNAi-based drug discovery, including siRNA design and screening, chemical modification and delivery technologies, and pharmacokinetic and safety evaluation, through to clinical trials. It targets liver-related diseases, including Hepatitis B, liver fibrosis and liver cancer, as well as breast cancer and HIV. The company operates from Kunshan, China, and was founded in 2007. It has pursued strategic partnerships, notably with Quark Pharmaceuticals, to advance its RNAi programs.

Genova

Series A in 2014
Genova (Changzhou) Biotechnology Co., Ltd. is a biotechnology company based in Changzhou, China, specializing in the development and manufacturing of insulin products. The company is dedicated to producing advanced insulin formulations aimed at treating diabetes, cardiovascular, and cerebrovascular diseases, as well as tumors. Genova focuses on providing third-generation insulin drugs to enhance patient care and improve treatment outcomes.

MicuRx Pharmaceuticals

Series B in 2013
Founded in 2007, MicuRx Pharmaceuticals discovers and develops novel antibiotics to combat drug-resistant bacterial infections. Its pipeline includes MRX-I, an oral antibiotic for gram-positive infections, MRX-IV for intravenous use, MRX-V for gram-negative bacteria, and MRX-VIII, a polymyxin for gram-negative infections. The company operates under a hybrid U.S./China business model.
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