Agilent to acquire ACEA Biosciences for $250M in cash
San Diego-based ACEA develops analytical intruments that are used in immuno-oncology, pre-clinical drug discovery and development, as well as basic science research. Founded in 2002, ACEA is led by Dr. Xiao Xu, President and CEO, and Dr. Xiaobo Wang, CTO and VP. The company centralizes manufacturing operations in Hangzhou, China. ACEA had raised $30M back in 2015 in a venture round from Lilly Asia Ventures (LAV) and Qiming Venture Partners (Qiming).
LAV’s participation was represented by Dr. Yi Shi, Managing Director. Based in Shanghai and Hong Kong, LAV is focused on life sciences and healthcare sectors in Asia, especially in China. It is recognized as a leading biomedical venture fund in China. Take a look at its portfolio here.
Qiming’s participation was represented by Ms. Nisa Leung, Managing Partner. Founded in 2006 and now with offices in Shanghai, Beijing, Hong Kong, Suzhou and Seattle, Qiming currently has $1.7B AUM and focuses on early to growth stage investments in Internet/Consumer, Healthcare, IT and Cleantech industries. Take a look at its portfolio here.
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