Can you provide a brief introduction to OrbiMed and its presence in China?

OrbiMed is a healthcare and life sciences dedicated investment firm with a global presence. We manage approximately $14 billion worldwide, making us the largest fund in terms of assets under management in our field. In Asia, we have invested around $2 billion over the past 11 years, with a focus on both private and public equity. We have three PE/VC funds with combined assets totaling $1.1 billion, while the rest is invested in the stock markets. Overall, we have invested in about 500 companies worldwide, with close to 50 of them located in Asia.

How does OrbiMed support the companies in which it invests?

OrbiMed stands out from other investors due to our extensive network. With a portfolio of 500 companies globally, we offer a deep and wide network that can provide valuable support to our invested companies. This is particularly important in China, where there is a strong demand for foreign advanced technology and products. As it takes 10-15 years to develop a drug, China’s market doesn’t have the time or capacity to meet the growing demand on its own. We bridge this gap by scouting the world for established and advanced products to import and in-license. One of our portfolio companies, Zai Labs, exemplifies our success in helping companies access our global network of products and technologies. Furthermore, our entire team is trained in health and life sciences, allowing us to bring both resources and knowledge to entrepreneurs who appreciate investors with industry expertise.

What are the key components you consider when evaluating a potential investment?

When assessing potential investments, we focus on several key components. Firstly, we pay attention to the people involved, particularly the leaders of the companies. It is essential that they possess market sensitivity along with knowledge in science and technology. Balancing these areas is crucial, as scientists often have expertise in their research field but may overlook market needs and medical practices. Additionally, having individuals with a global view and local access to resources is essential. We also look for a solid pipeline that combines market needs, pipeline certainty, and an attractive cost-time scenario. Meeting medical needs in a rapidly growing market remains important. Having products that are close to market launch within the pipeline, as well as more innovative assets, is an appealing combination.

What is your vision for OrbiMed, and do you expect to adapt your investment strategy in the next few years?

Our vision for OrbiMed is centered on young companies developing drugs in China for the global market. While there is no fixed path, we will adapt to market opportunities. However, there are ongoing trends that will continue to drive our investment direction. We will continue to focus on innovative content, as historically there have been limited opportunities to invest in innovation within these markets. In our portfolio, we have many growth stage companies with mature products that perform well and generate revenue. While these companies capture market growth opportunities, we are placing more weight on innovation. In terms of technology, we are paying particular attention to areas such as biotech, biologics, antibodies, fusion proteins, and more. The immunooncology space, where revolutionary technologies are emerging, has also garnered our interest. Genomic-related areas and precision medicine are other hot areas where we will continue to seek investment opportunities.

You may also be interested in...