TF Capital

TF Capital is a venture capital firm based in Shanghai, China, founded in November 2013. It specializes in early-stage and growth capital investments, primarily focusing on the life sciences sector, including biotechnology, therapeutics, pharmaceuticals, drug delivery, medical devices, and medical services. The firm targets preclinical and early clinical-stage companies within these fields, aiming to support innovations that can advance healthcare solutions. TF Capital's investment strategy emphasizes opportunities within China, leveraging the growing demand for healthcare advancements in the region.

Wei Cheng

Managing Director

Ming Li

Managing Partner

Allan Liu

Managing Director

Dr. Zhang Yibo

Partner

Xinzhong Wang Ph.D

Venture Partner

40 past transactions

AskGene Pharma

Series A in 2022
AskGene Pharma is a biotechnology firm. It is developing novel cytokine prodrugs to address critical unmet medical needs in oncology and autoimmune disease. It is unlocking the full therapeutic potential of cytokine molecules with their innovative smart kine prodrug platform. It overcomes a number of significant challenges, providing a clear pathway to a range of next-generation cytokine therapies. They provide safer and better medicines for saving patients’ lives. They are equipped with the most advanced R&D facilities.

UniXell

Seed Round in 2022
UniXell develops cell therapies for the treatment of cancer and neurodegenerative disorders.

Chemsemi

Series A in 2022
ChemSemi develops 5G chips and semiconductor technologies.

Hesguard

Seed Round in 2021
Hesguard is a medical device developer and producer of high-end implantable medical devices related to ophthalmic diseases.

Allorion Therapeutics

Series A in 2021
Allorion Therapeutics is a small molecule therapeutic development company dedicated to creating innovative treatments for cancer and autoimmune diseases. With operations in Natick, Massachusetts, and Guangzhou, China, the company specializes in developing mutant selective and isoform-specific drugs through non-conventional methods targeting established disease-related proteins. This approach aims to enhance drug efficacy and reduce the likelihood of resistance in patients, thereby improving therapeutic outcomes.

Positive Sequence Biology

Series A in 2021
Positive Sequence Biology is a biotech company with new gene system-based editing, focused on biotech innovation & breakthrough therapies.

Structure Therapeutics

Series B in 2021
ShouTi specializes in the discovery and development of drugs against a type of targets called GPCR. The company develops drugs focused on novel small molecules for multiple unmet medical needs. ShouTi is currently operating in Stealth mode.
Cellular Biomedicine Group is a biomedicine firm engaged in the development of new treatments for degenerative and cancerous diseases utilizing proprietary cell therapy technologies. It is the result of the acquisition, transfer, commercialization, and advancement of thirty years of research and human treatment experience in cellular medicine. Its cellular research and development is the result of collaboration among scientists and doctors from the US, England, and China.

CytoLynx Therapeutics

Funding Round in 2021
CytoLynx Therapeutics is a R&D and commercial platform leveraging Cytovia’s unique technologies and product pipeline.

Etern

Series B in 2021
Etern is developing small molecule innovative drugs for oncology therapies.

Abogen Biosciences

Series B in 2021
Abogen Biosciences is a discovery stage biotechnology company focuses on developing nucleic acid-based (RNA and DNA) therapeutics for treatment of cancer and infectious diseases.

Newsoara

Venture Round in 2021
Newsoara is a biomedical technology developer that specializes in the development of medical devices.

Regor Therapeutics

Series B in 2021
Regor Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative medicines targeting oncology, metabolic diseases, and autoimmune diseases. Utilizing its proprietary CARD (Computer Accelerated Rational Discovery) platform, Regor integrates various scientific disciplines, including structural biology, computational chemistry, therapeutic biology, medicinal chemistry, and clinical development. This approach allows the company to efficiently produce both best-in-class and first-in-class therapeutic molecules. With a strong emphasis on scientific expertise, Regor Therapeutics aims to deliver clinically differentiated treatments that address unmet medical needs.

SciNeuro

Series A in 2020
SciNeuro Pharmaceuticals develops medicines for patients with central nervous system (CNS) diseases. The company is based in Shanghai, China.

Hanyu Medical

Series D in 2020
Shanghai Hanyu Medical Technology Co., Ltd. specializes in the research and development of medical devices aimed at treating heart valve diseases. Established in 2016 and headquartered in Shanghai, with an additional office in Beijing, the company is recognized as one of the pioneering domestic firms in the development, production, and sale of transcatheter mitral valve repair devices. Hanyu Medical's flagship product, ValveClamp, is designed for minimally invasive interventions to address mitral valve regurgitation, enabling surgeons to close heart valves efficiently during procedures.

Ranok Therapeutics

Seed Round in 2020
Developer of an innovative targeted protein degradation technology intended to explore novel therapeutics. The company develops an innovative targeted protein degradation technology for the discovery and development of novel therapeutics, committing to creating transformative medicines for patients suffering from cancer and other serious diseases.

Oceanus Plus

Series A in 2020
Oceanus Plus is a China-based company dedicated to the development of clinical trial management systems and clinical research products. The company holds independent intellectual property rights, allowing it to create innovative solutions tailored for the clinical research industry. By focusing on these areas, Oceanus Plus aims to enhance the efficiency and effectiveness of clinical trials, contributing to advancements in medical research and healthcare outcomes.

EOC Group

Series C in 2019
EOC Group is a biopharmaceutical company based in Shanghai, China, founded in 2015. The company specializes in developing, manufacturing, and commercializing innovative oncology products, utilizing a licensing model to enhance its product pipeline. EOC partners with global biopharmaceutical firms to integrate their molecules into its local manufacturing and regulatory frameworks. The company currently has a pipeline of seven novel products, four of which have received Class I innovative drug approvals and are undergoing clinical studies in China. EOC operates an 8,000 square meter cGMP manufacturing facility in Taizhou, China Medical City, and maintains offices in major cities, including Shanghai, Beijing, Hong Kong, and Los Angeles. With a team experienced in pharmaceutical research and development, EOC aims to position itself as a leader in oncology innovation within China.

EOC Group

Series C in 2019
EOC Group is a biopharmaceutical company based in Shanghai, China, founded in 2015. The company specializes in developing, manufacturing, and commercializing innovative oncology products, utilizing a licensing model to enhance its product pipeline. EOC partners with global biopharmaceutical firms to integrate their molecules into its local manufacturing and regulatory frameworks. The company currently has a pipeline of seven novel products, four of which have received Class I innovative drug approvals and are undergoing clinical studies in China. EOC operates an 8,000 square meter cGMP manufacturing facility in Taizhou, China Medical City, and maintains offices in major cities, including Shanghai, Beijing, Hong Kong, and Los Angeles. With a team experienced in pharmaceutical research and development, EOC aims to position itself as a leader in oncology innovation within China.

Tisenc

Series C in 2019
Shenzhen Tisenc Medical Devices Co., Ltd., founded in 2015 and based in Shenzhen, China, specializes in the development, manufacture, and global sales of chemiluminescence immunology (CLIA) systems. The company focuses on producing advanced medical testing solutions, including point-of-care testing systems, diagnostic reagents, and molecular diagnostics solutions. Tisenc operates from a facility that encompasses over 16,000 square meters, featuring research and development laboratories, a GMP factory, and an instrument manufacturing site. The company holds full intellectual property rights for its products and technologies, allowing for independent research and development as well as production capabilities. Tisenc aims to provide innovative technological support to medical practitioners through its automatic chemiluminescent analyzers and diagnostic reagents, enhancing the field of medical diagnostics.

GeneQuantum Healthcare

Series B in 2019
GeneQuantum Healthcare (Suzhou) Co., Ltd. is a high-tech company that focuses on the research and development of innovative Bio-therapeutics. GeneQuantum was founded in August 2013 at Suzhou Industrial Park, and has built-up a world-class bio-conjugation technology platform, focusing on developing series of next generation anti-tumor Antibody-Drug-Conjugates (ADCs) with best-in-class potential. Securing this round of financing will significantly promote the development of current ADC candidates towards IND filling in both US and China, meanwhile further expanding the company's product pipeline.

Abbisko Therapeutics

Series B in 2019
Abbisko Therapeutics Co. Ltd. discovers, develop, and manufactures immuno-oncology therapies. It offers ABSK011 and ABSK021, which are molecule inhibitors for treating hepatocellular carcinoma; and CSF1R for the treatment of solid tumors. The company also develops therapeutics for the treatment of cancer, tumor, and diabetes, metabolic diseases, liver diseases, viral infections and CNS diseases. The company was founded in 2016 and is based in is based in Shanghai, China.

Antengene

Series B in 2019
Antengene Corporation is a biopharmaceutical company based in Shanghai, China, founded in 2016. The company specializes in developing innovative oncology therapies aimed at treating various types of cancer. Its product pipeline includes ATG-008, an orally available mTOR kinase inhibitor for advanced solid tumors and hematological malignancies, and ATG-010, a compound targeting the XPO1 protein for hematologic cancers like multiple myeloma. Additionally, Antengene is advancing several other candidates in different stages of development, including ATG-016, ATG-527, and ATG-019, which target various oncological conditions. The company is committed to addressing unmet medical needs in Asia through its research and development efforts focused on anti-tumor and anti-cancer therapies.

Genfleet

Series A in 2018
GenFleet Therapeutics, based in Shanghai, China, is a biotechnology company focused on the research and development of therapeutic molecules aimed at cancer treatment. Founded in 2017, the company specializes in creating innovative pharmaceuticals and antibody drugs that target various cancer systems. Its efforts are directed at reactivating tumor-specific immune responses and mobilizing the body's own immune system to combat cancer. GenFleet Therapeutics serves both domestic and international markets, contributing to advancements in cancer therapy through its development of signal transduction regulators, tumor microenvironment modulators, and transcription factors.

Xgene Pharmaceutical

Series B in 2018
Xgene Pharmaceutical Inc. is a pharmaceutical company founded in 2015 and based in the Cayman Islands. The company specializes in the development of small-molecule drugs aimed at treating chronic pain, infectious diseases, and tumors. Through its research and development efforts, Xgene Pharmaceutical seeks to address significant medical needs in these areas.

ECCOGENE

Series A in 2018
Eccogene is a healthcare company focused on developing treatments for metabolism and immune-related diseases, particularly obesity and diabetes. The company specializes in disease biology, medicinal chemistry, and translational science to create immunological pharmaceuticals at the molecular level. Eccogene aims to address complex chronic diseases by providing a pipeline of metabolic drugs designed to enhance patient outcomes and improve overall health.

Alpha Biopharma

Series A in 2018
Alpha Biopharma Inc. is a biopharmaceutical company based in Huangpu, China, focused on the research and development of innovative therapeutics. The company is actively developing AZD3759, a small molecule tyrosine kinase inhibitor aimed at treating patients with non-small cell lung cancer who have epidermal growth factor receptor (EGFR) mutations and central nervous system metastases. Alpha Biopharma collaborates with prominent domestic and international pharmaceutical companies to enhance the reliability of its product development. The company employs a strong scientific consulting and management team to optimize its drug development strategies, emphasizing a comprehensive approach that includes research, market positioning, and intellectual property protection. Additionally, Alpha Biopharma partners with top contract research organizations, contract manufacturing organizations, hospitals, and institutes to ensure efficient and organized program implementation, supported by a robust project management system.

Xgene Pharmaceutical

Series A in 2017
Xgene Pharmaceutical Inc. is a pharmaceutical company founded in 2015 and based in the Cayman Islands. The company specializes in the development of small-molecule drugs aimed at treating chronic pain, infectious diseases, and tumors. Through its research and development efforts, Xgene Pharmaceutical seeks to address significant medical needs in these areas.

Antengene

Series A in 2017
Antengene Corporation is a biopharmaceutical company based in Shanghai, China, founded in 2016. The company specializes in developing innovative oncology therapies aimed at treating various types of cancer. Its product pipeline includes ATG-008, an orally available mTOR kinase inhibitor for advanced solid tumors and hematological malignancies, and ATG-010, a compound targeting the XPO1 protein for hematologic cancers like multiple myeloma. Additionally, Antengene is advancing several other candidates in different stages of development, including ATG-016, ATG-527, and ATG-019, which target various oncological conditions. The company is committed to addressing unmet medical needs in Asia through its research and development efforts focused on anti-tumor and anti-cancer therapies.

GeneQuantum Healthcare

Series A in 2017
GeneQuantum Healthcare (Suzhou) Co., Ltd. is a high-tech company that focuses on the research and development of innovative Bio-therapeutics. GeneQuantum was founded in August 2013 at Suzhou Industrial Park, and has built-up a world-class bio-conjugation technology platform, focusing on developing series of next generation anti-tumor Antibody-Drug-Conjugates (ADCs) with best-in-class potential. Securing this round of financing will significantly promote the development of current ADC candidates towards IND filling in both US and China, meanwhile further expanding the company's product pipeline.

Abbisko Therapeutics

Series A in 2017
Abbisko Therapeutics Co. Ltd. discovers, develop, and manufactures immuno-oncology therapies. It offers ABSK011 and ABSK021, which are molecule inhibitors for treating hepatocellular carcinoma; and CSF1R for the treatment of solid tumors. The company also develops therapeutics for the treatment of cancer, tumor, and diabetes, metabolic diseases, liver diseases, viral infections and CNS diseases. The company was founded in 2016 and is based in is based in Shanghai, China.

Asieris Pharmaceuticals

Series A in 2016
Asieris Pharmaceuticals Co. Ltd. is a Chinese biotechnology company established in 2010 and headquartered in Taizhou, China. The company specializes in the research and development of pharmaceutical products aimed at treating tumors and addressing multidrug-resistant infections. Asieris focuses on innovative therapies within the oncology sector and is dedicated to combating the challenges posed by drug-resistant pathogens.

Hua Medicine

Series C in 2016
Hua Medicine is a clinical-stage, innovative drug development company in China, focused on novel therapies for the treatment of diabetes and CNS disorders. Founded by pharma industry veterans and funded by a premier group of international VC investment firms such as Fidelity Asia, Fidelity Biosciences, ARCH Ventures, Venrock, SAIL and WuXi Ventures, the company has in-licensed from major pharma, world-wide rights to a potential best-in-class, oral drug for the treatment of Type 2 Diabetes which utilizes a novel mechanism of action.

Zai Lab

Series B in 2016
Zai Lab Limited is a Shanghai-based biopharmaceutical company founded in 2013, dedicated to discovering, developing, and commercializing innovative therapeutics for oncology, autoimmune, and infectious diseases. The company offers several proprietary products, including Niraparib for treating solid tumors, Optune for glioblastoma multiforme, and Ripretinib for KIT and PDGFRa-driven cancers. Additionally, Zai Lab develops other investigational therapies such as REGN1979, Margetuximab, INCMGA0012, Bemarituzumab, Omadacycline, and Durlobactam. With a focus on the Chinese market, Zai Lab has established partnerships with leading global biopharmaceutical firms to enhance its drug pipeline and improve access to transformative medicines. The company leverages its expertise in drug development and favorable regulatory conditions in China, along with in-house manufacturing capabilities, to support both clinical and commercial production. Zai Lab aims to expand its operations and build a specialized commercial team to effectively market its products in China and beyond.

Ark Biosciences

Series A in 2015
Ark Biosciences Inc. is a biopharmaceutical company based in Shanghai, China, focused on discovering and developing therapeutics for unmet medical needs, particularly in respiratory viral infections and viral hepatitis. Founded in 2013, the company is dedicated to addressing global health challenges with its innovative products, which include AK0701 for chronic obstructive pulmonary disease, AK0529 for respiratory syncytial virus, AK0612 for influenza, and AK0705 and AK0706 for hepatitis B. Ark Biosciences aims to establish itself as a leader in antiviral drug development through a commitment to scientific excellence and innovation.

Hua Medicine

Series B in 2015
Hua Medicine is a clinical-stage, innovative drug development company in China, focused on novel therapies for the treatment of diabetes and CNS disorders. Founded by pharma industry veterans and funded by a premier group of international VC investment firms such as Fidelity Asia, Fidelity Biosciences, ARCH Ventures, Venrock, SAIL and WuXi Ventures, the company has in-licensed from major pharma, world-wide rights to a potential best-in-class, oral drug for the treatment of Type 2 Diabetes which utilizes a novel mechanism of action.

CANbridge Pharma

Series A in 2014
CANbridge Pharma is a biopharmaceutical company focused on the development and commercialization of healthcare products in China and North Asia, particularly for oncology and rare diseases. Established in 2012 and headquartered in Beijing, with additional offices in Shanghai, Cambridge, Taipei, and Hong Kong, the company partners with Western biopharmaceutical firms to bring clinical-stage pharmaceutical, medical device, and diagnostic products to the region. CANbridge specializes in therapies for serious medical conditions that are either unavailable or inadequately addressed in North Asia. Its key product, CAN008, is a glycosylated CD95-Fc fusion protein aimed at treating glioblastoma multiforme, while the company also has a diverse pipeline of biologics and small molecules targeting conditions such as Hunter Syndrome, hemophilia A, and various rare metabolic disorders. Through licensing and exclusive commercialization agreements, CANbridge seeks to enhance healthcare solutions for underserved patient populations in the region.

Zai Lab

Series A in 2014
Zai Lab Limited is a Shanghai-based biopharmaceutical company founded in 2013, dedicated to discovering, developing, and commercializing innovative therapeutics for oncology, autoimmune, and infectious diseases. The company offers several proprietary products, including Niraparib for treating solid tumors, Optune for glioblastoma multiforme, and Ripretinib for KIT and PDGFRa-driven cancers. Additionally, Zai Lab develops other investigational therapies such as REGN1979, Margetuximab, INCMGA0012, Bemarituzumab, Omadacycline, and Durlobactam. With a focus on the Chinese market, Zai Lab has established partnerships with leading global biopharmaceutical firms to enhance its drug pipeline and improve access to transformative medicines. The company leverages its expertise in drug development and favorable regulatory conditions in China, along with in-house manufacturing capabilities, to support both clinical and commercial production. Zai Lab aims to expand its operations and build a specialized commercial team to effectively market its products in China and beyond.

Sanyou Medical

Series A in 2014
Shanghai Sanyou Medical Co., Ltd. specializes in the research, development, manufacturing, and sale of orthopedic implants in China. The company offers a range of products under the Tytus and Sanyou brands, including spinal implants such as anterior cervical plates and thoracolumbar systems, as well as minimally invasive options. In addition to spinal products, Sanyou Medical produces trauma implants for various applications, including shoulder, elbow, hip, pelvis, knee, and wrist systems. Headquartered in the Medical Apparatus Garden of Zhangjiang Hi-Tech Park in Shanghai, the company emphasizes innovative therapies and has implemented a restructured management system to enhance its sustainability and value in the healthcare sector.
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