China-based pharmaceutical company Shenzhen Hepalink Pharmaceutical has announced it will invest $60m in investment firm TPG’s Biotechnology Partners V fund, Forbes reported on Friday, citing a company announcement in Chinese.
Hepalink previously also supported TPG’s predecessor fund, Biotechnology Partners IV, in December 2014 with a $22m commitment.
The company expects its latest investment will help it access business opportunities by making the most of its available capital.
Founded in 1998, Hepalink has developed technology that improves the production process of heparin sodium API, an injectable blood thinner.
TPG operates vehicles across a range of areas, including healthcare, real estate, technology, consumer and retail, industrial, media, natural resources and financial services.
TPG Biotech currently has $1.2bn under management and particularly focuses on sectors such as therapeutics, medical devices and healthcare services. It has backed more than 50 life science companies since 2002.