Source:
https://scmp.com/business/global-economy/article/2131943/mays-visit-yields-us13b-chinese-funds-british-biotech-and
Business

May’s visit yields US$1.3b in Chinese funds for British biotech and life sciences companies

Future Planet Capital and Eight Great Technologies will invest the funds in Britain’s most innovative biotech, medicine and life sciences companies

The signing ceremony for the MOU between UK venture capital funds and Chinese investors, which was attended by the UK Secretary of State for International Trade, Liam Fox (second left), and the President of the Chinese Health Information and Big Data Association, Jin Xiaotao (right). Photo: Handout

China’s increasing zeal for improving biotechnology and medical services is music to the ears of the British government after two venture capital firms received 8 billion yuan (US$1.3 billion) in funding commitments from mainland investors during Prime Minister Theresa May’s three-day visit last week.

Future Planet Capital and Eight Great Technologies signed the memorandums of understanding with Chinese investment firms, which was witnessed by Liam Fox, Secretary of State for International Trade, which will invest the funds in Britain’s most innovative biotech, medicine and life sciences companies.