Shuki Gleitman's GIBF raising $300 million in China for second biotech fund
The Guangzhou Sino-Israel Biotech Investment Fund (GIBF) focuses on life science investments and cooperates with leading Guangzhou organizations to bring Israeli biotech firms to the massive Chinese metropolitan
Golan Hazani | 10:10 31.05.2021
The Guangzhou municipal government and Shuki Gleitman, the former chief scientist of the Israel Ministry of Industry and Trade, are raising $300 million for the Guangzhou Sino-Israel Biotech Investment Fund’s (GIBF) second fund. Calcalist has learned that the fund has already secured commitments to the tune of $200 million and is set to reach $300 million in the coming weeks. GIBF raised $100 million for its first fund for investments in Israeli companies specializing in medical devices. The fund is still active and has to date invested in eight Israeli companies, including InMode, which has already gone public, currently trading at a market cap of $3.25 billion on Nasdaq after completing its IPO at a $450 million valuation in 2019. GIBF registered a return of 3.5x on its investment in InMode. Additional companies in which the fund has invested include CarboFix, Visionix, Alpha Omega, and G-Medical.
Aside from Gleitman, the fund's other partners include CEO Avner Lushi, Prof. Avraham Karasik, Professor Shlomo Noy, and one Chinese partner, Carl Geng.Gleitman told Calcalist that the goal of the fund is to allow Israeli Biomed companies to conduct part of their clinical trials in China via their Chinese subsidiaries, alongside the trials they are conducting in the West so that they will be able to simultaneously submit the results to regulators in the U.S., China, and Europe.