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Life sciences investor Domain Elite inks first deal in China’s Smart Medical

28 Apr 2014

Life sciences investor Domain Elite has made its first investment in Smart Medical Systems, a Chinese developer and manufacturer of endoscopy and colonoscopy products.

Domain Elite has invested $6.5m, the first part of a multi-phase investment plan focusing on Greater China.

Domain Elite was formed as a partnership between US venture capital firm Domain Associates and Elite Consulting, a consultant and financial advisor to the Chinese pharmaceutical and medical device industry, to bring healthcare products and technologies to China.

Part of the investment is allocated directly to Smart Medical’s subsidiary in Hong Kong, to advance its platform of gastrointestinal medical devices for cancer prevention and endoscopic surgery in Greater China, including Hong Kong and Taiwan.

“The mission of Domain Elite is to find the most effective medical technologies to fulfill important unmet medical needs and improve healthcare in China,” said Brian Halak, partner at Domain Associates and founder of Domain Elite. “In so doing, Domain will create unique investment opportunities in the rapidly growing Chinese market.”

“The goal of the partnership is to establish new companies and joint ventures in China that will provide Western companies the financing, regulatory, medical, and marketing infrastructure needed to bring their breakthrough products to China. Target technologies will be mainly focused in the areas of medical devices and diagnostics. The partnership is exclusive and it is envisioned to be the source of multiple emerging businesses in China over the course of several years.”

Domain Associates, has $2.4bn of capital under management, investing in pharmaceuticals, diagnostics, and medical devices. Past investments include Amgen, Amylin Pharmaceuticals, BiPar Sciences, Biosite, Dura Pharmaceuticals and Pharmion

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