BioVeda China Announced the First Closing of BioVeda China Fund II

BioVeda China Announced the First Closing of BioVeda China Fund II

October 15, 2007

    SHANGHAI, China, Oct. 15 /Xinhua-PRNewswire/ -- BioVeda
China today announced the first closing of its BioVeda China
Fund II. BioVeda China is the first international venture
capital fund focusing on life-sciences investments in
China; it has attracted high quality international
investors including Adveq, Eli Lilly and Company,
International Finance Corporation, Johnson & Johnson
Development Corporation, and Morgan Stanley.

    BioVeda China Fund II will invest in promising local
Chinese life-sciences companies.  Consistent with its
investment strategy in Fund I, BioVeda China will help to
create and build future industry leaders, and transform
Chinese companies into next generation multinationals. 

    "We are extremely pleased with the support and
participation of such high quality institutional investors
in BioVeda China Fund II.  This strengthens our commitment
to the long-term growth of China's life-sciences industry,
and our belief that the sector's unique in its pace of
growth and transformation thus offers significant
investment opportunities," said Zhi Yang, Ph.D.,
Founder, Chairman & Managing Partner of BioVeda China. 


    In the last 15 months, BioVeda China has led over
US$120 Million financing for six local Chinese companies. 
In addition, BioVeda China provides strategic assistance to
its portfolio companies to power their next stage growth. 

    BioVeda China is headquartered in Shanghai. Additional
information about BioVeda China is available at
http://www.biovedavc.com.cn .




    For more information, please contact: 

     Ms. Moling Chen
     Tel:   [phone]
     Email: [e-mail]