6 Dimensions Capital, the strategic investment vehicle formed by pharmaceutical firm WuXi PharmaTech and venture capital firm Frontline BioVentures, is raising a $450m fund, according to a securities filing yesterday.
WuXi PharmaTech combined its WuXi Healthcare Ventures unit with Frontline in May this year to create an entity with roughly $800m of assets under management.
The deal was closed alongside an announcement that 6 Dimensions intended to raise both dollar and renminbi-denominated funds. The dollar fund in question would appear to be the first of those, thought it has not yet secured any capital according to the filing.
The fund, which will be run by a 24-person investment team, will target healthcare companies in the US, where WuXi Healthcare Ventures is based, and China, where both WuXi PharmaTech and Frontline are headquartered.
WuXi Healthcare Ventures’ current portfolio companies include synthetic biology tool developer Twist Bioscience, genomic drug developer LifeMine Therapeutics and CStone Pharmaceuticals, which aims to bring Chinese pharmaceutical research to international drugs,
Frontline’s investments include monoclonal antibody producer Innovent Biologics, antibiotics developer Tennor Therapeutics, and medical and healthcare company Sinopharm, which went public in 2009.