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Qiming Venture Partners USA raises $260m for third fund

The fund will invest in early-stage therapeutics and healthcare tech companies in the U.S. and the EU.

Qiming Venture Partners USA has closed its third fund at $260 million. The fund will invest in early-stage therapeutics and healthcare tech companies in the U.S. and the EU.

PRESS RELEASE

SAN FRANCISCO & SEATTLE & BOSTON–(BUSINESS WIRE)–Qiming Venture Partners USA (Qiming US), a leading US healthcare investment firm, today announced the closing of its third fund, raising $260 million in an oversubscribed fundraise with strong support from new and existing investors. Qiming US will continue to execute on the same strategy as previous funds, deploying Fund III in early-stage therapeutics and healthcare technology companies in the US and EU that aim to improve patient outcomes and address unmet medical needs.

“We are incredibly proud of the entrepreneurs and healthcare innovations we have supported in just a few short years, and we are grateful for the continued support of our limited partners that make this possible,” said Anna French, Ph.D., Partner.

Colin Walsh, Ph.D., Partner, said, “Fund III will further strengthen our efforts to bring impactful medicines and technologies to the patients that need them most. We are excited to partner with the next generation of visionary entrepreneurs to build innovative healthcare companies.”

In addition to closing Fund III, Qiming US announced the addition of Isaac Ciechanover, M.D., as a Partner.

“We are delighted to welcome Isaac to our team,” said Mark McDade, Founder and Partner. “Isaac’s deep experience building, leading, and investing in world-class healthcare companies makes him an ideal fit for our team and investment strategy.”

Isaac Ciechanover joins Qiming US from Polaris Venture Partners where he served as a Partner. Previously, Isaac was President and Chief Executive Officer of Atara Biotherapeutics (NASDAQ: ATRA), an off-the-shelf, allogeneic T-cell immunotherapy company. Isaac founded Atara in 2012 while a Partner at Kleiner Perkins Caufield & Byers and in honor of his mother Atara who had recently passed away from cancer. Earlier in his career, Isaac held business development roles at Celgene where he drove the company’s venture capital efforts and led licensing and M&A activities with an aggregate value of more than $6.7 billion. Notable transactions include: Acceleron (NASDAQ: XLRN), Agios (NASDAQ: AGIO), Array (NASDAQ: ARRY), and PTC Therapeutics (NASDAQ: PTCT). He took his first role in venture capital at Pequot Ventures in New York, after receiving his M.B.A. from Harvard University. Isaac earned a B.A. in Psychology from Stanford University, an M.Phil in epidemiology from Cambridge University, and his M.D. from Weill Medical College of Cornell University.

“I am excited to be joining Qiming US in its mission to build companies that transform patients’ lives,” said Dr. Ciechanover. “The Fund’s team and track record of success attracts the most innovative entrepreneurs and high-impact companies.”

Since its founding in 2017, Qiming US has raised over $550M and partnered with more than 30 early-stage companies to bring transformative therapies and healthcare technologies to patients. Qiming US is led by Partners Gary Rieschel, Mark McDade, Anna French, Isaac Ciechanover, and Colin Walsh.

About Qiming Venture Partners USA
Established in 2017, Qiming US is an independent, US-based venture capital firm affiliated with Qiming Venture Partners, one of the leading venture capital firms in China. Since our inception, Qiming US has focused on investing both our financial and human capital in early-stage therapeutic and healthcare technology opportunities in the United States and Europe. For more information, please visit www.qimingvcusa.com.