U.S. venture firm Domain Associates has partnered with Elite Consulting, an advisory to the Chinese pharmaceutical and medical device industry, have partnered in a new venture called Domain Elite. The partnership will work to establish new companies in China that will provide Western companies the “financing, regulatory, medical, and marketing support and infrastructure needed to bring their products to China,” the firms said.
Domain Associates, a U.S. venture capital firm investing in breakthrough life sciences technologies, and Elite Consulting, consultants and financial advisors to the Chinese pharmaceutical and medical device industry, today announced a partnership to bring the most advanced healthcare products and technologies to China. The partnership called Domain Elite (www.meetdomainelite.com) will establish new companies and joint ventures in China that will provide Western companies the financing, regulatory, medical, and marketing support and infrastructure needed to bring their breakthrough products to China. Target technologies will be mainly focused in the areas of pharmaceuticals, diagnostics, and medical devices. The partnership is exclusive and is envisioned to be the source of multiple emerging businesses in Chinaover the course of several years.
“The Chinese healthcare system has a great and significant need for best-in-class, innovative therapies and medical products,” said Brian Halak , Ph.D., partner at Domain Associates. “We see Domain Elite as the first partnership of its kind to create new companies by leveraging the resources of both China and the U.S. These companies will bring the most effective new drugs and novel technologies to fulfill unmet medical needs and improve healthcare in China. In the process, Domain will create its own investment opportunities in the rapidly expanding Chinese market.”
“From patients to doctors to the government, health is of major importance to everyone in China,” said Micah Zimmerman, partner at Elite Consulting. “Our analysis of the needs of the Chinese healthcare market led us to develop Domain Elite as a bridge between overseas technology companies and Chinese doctors and patients. Everyone benefits when patients can access the most advanced technologies to improve health.”
The partnership brings together Elite Consulting’s in-depth knowledge of the Chinese healthcare landscape with Domain’s capital and deep networks, both within its portfolio and throughout the industry. Domain has provided seed financing to Domain Elite for the initial search and evaluation process and will contribute more significant capital for each new technology introduced to China.
“With more than three decades of experiences, connections and accomplishments in life sciences investing, Domain Associates understands how to found and execute industry leading investment solutions to launch and build successful companies that meet healthcare needs,” said Mr. Zimmerman. “Domain’s investment in Eddingpharm, a Chinese pharmaceuticals marketing company, and involvement in The Foundry, the premier U.S. medical device company incubator, illustrate Domain’s innovation not only in addressing healthcare needs but also in establishing important collaborations that facilitate company creation for the development and marketing of cutting-edge technologies.”
“With an exclusive focus on healthcare and more than 16 years of experience in China, Beijing-based Elite Consulting brings incomparable ‘local’ expertise and international dependability to developing new medical technologies and products for the Chinese market,” said Dr. Halak. “We believe Domain Elite will create multiple successful companies that will translate cutting-edge medical technologies into impactful, best-in-class products for Chinese healthcare.”
About Elite Consulting and Elite Capital Advisors
Founded in 1997 by six Chinese executives from the pharmaceutical and diagnostics industry, Beijing Elite Management Consulting has an active client base of 1,200 domestic pharmaceutical and medical product companies in China. Elite Consulting provides sales and marketing management services, contract executive management, high-level SFDA experts and registration services, clinical development expertise, marketing research, and a partially owned sister company, which provides formulation, manufacturing, and cGMP consulting for international and domestic pharmaceutical and device manufacturers in China. Elite also is among the most active commercial due diligence providers in the China healthcare industry. Annually, Elite conducts diligence on more than $500 million of direct investment in the pharmaceutical, device, and hospital industries inChina. Elite Capital Advisers provides mergers and acquisitions brokerage, facilitation, and capital investment to leading investors and multinational and domestic pharmaceutical companies. Elite Consulting is located in Beijing. For more, please visit http://www.bjelite.com.
About Domain Associates
Founded in 1985, Domain Associates, L.L.C. is a venture capital firm with an exclusive focus on investing in life science companies that advance human health. Domain’s focused network, deep experience, and dependable reputation of this team have made it one of the top private-equity groups participating in healthcare investing. Domain has been involved in the formation and growth of more than 250 life sciences companies. With $2.4 billion of capital under management, Domain invests in three major segments: pharmaceuticals, diagnostics, and medical devices. Representative past investments include Amgen, Amylin Pharmaceuticals, BiPar Sciences, Biosite, Dura Pharmaceuticals and Pharmion. Domain has offices in Princeton, N.J.and San Diego.