Chinese VC alliance to back early-stage bio-ventures

A variety of public and private venture groups in China have created a loosely structured association that will back early-stage biotech ventures. Companies such as Shijiazhuang Pharmaceutical Group, DSM China and the Chinese Academy of Sciences plan to raise $145 million in the near term. And much of that money will be earmarked for biopharmaceuticals, biomaterials and industrial enzymes.

- read the report from China Bio Today