Cleveland BioFund, a new venture group in Cleveland, is launching a partnership with
Newsummit Pharmaceutical Group, a Shanghai-based biotechnology development company, to fund and support revenue-stage US medical device companies looking to enter the China market, and Chinese medical device companies looking to enter the US market. The partners announced that $30 million of a targeted $100 million in funding is available now.
BioEnterprise will assist the groups in identifying and supporting opportunities. Cleveland BioFund is a new project launched by the group behind the
Cleveland International Fund, a real estate investment fund.