2023-05-22 Investment Commentaries

Portfolio News: Chime Biologics

Chime Biologics (“Chime”), a world-class contract development and manufacturing organization (CDMO) company, is a major investment in our portfolio. VMS first invested in Chime’s series A funding round in February 2020, and then led its series A+ fund round in March 2021. Following the investments, VMS has been working closely with Chime on strategic management and providing value-added services, such as senior management and talent acquisition, business development and client referral via our ecosystem of portfolio companies, as well as cost management and fundraising.

VMS Group’s Founder and Chairman Mr. Benny Chong gave a speech at Chime’s celebration forum at its Head Office in Wuhan on 19 May 2023, to mark its 10th anniversary.

In his speech at the ceremony, Benny emphasized that “Chime is a critical investment for VMS. In 2019, we analyzed a vast number of CDMO companies, and were particularly impressed by Chime’s technological advantages, management team and talents, as well as its strong emphasis on high quality standards.”

“Despite the challenges brought on by the pandemic since the end of 2019, we were determined to support Chime, and invested over USD264 million in Chime since 2020. We are confident in the growth potential of Chime given its operating track record. At the same time, we remain confident in the long-term outlook of China’s healthcare sector.”

As part of the same occasion, our Head of Healthcare Andrew Ng moderated a panel entitled “How can Chinese healthcare companies navigate uncertainties?” where he discussed, along with fellow industry experts, the most significant issues impacting the development of the healthcare industry in China.

Chime is at the core of VMS’s healthcare ecosystem. Its 10th anniversary and continued growth during the COVID-years are testament to the dedication, resilience, and innovation of its team. We are honored to be with a close strategic partner of this remarkable organization and look forward to its continued growth and success in the years ahead.

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