Luqa Pharmaceuticals Completes US$15M Series A Financing
Hong Kong, S.A.R., June 9, 2015 – Luqa Pharmaceuticals, a China specialty care company that markets innovative solutions in dermatology and other specialty areas, announces the completion of a US$15 million round of fund raising. The new financing was led by Morningside Ventures. Proceeds will be used to expand, develop and fund on-going operations and commercialization of Luqa’s product range.
Luqa has been able to record strong growth since the launch of its first product in 2013. Luqa has now launched an additional eight products, with three more launches expected in 2015. Luqa has rapidly become a reference company in China’s derma-aesthetic space offering medical, corrective and aesthetic product lines, which are used mainly by physicians to enhance patients’ appearance.
Luqa’s solutions provide patients with best-in-class innovation whilst providing physicians and healthcare communities with continuous education and training initiatives to ensure they are kept well informed about patient conditions and the needs of the patients with these conditions.
According to Luqa’s CEO Robert Braithwaite, “The financing provides capital necessary to substantially grow, providing unique physician driven solutions for Chinese patients. We continue to strive to build a modern healthcare model, well adapted to today’s China needs, based on strengthening the relationship between patients and providers through education and information.”
“The proven track record of Luqa’s team, together with its portfolio and distribution partnerships, create a very compelling future,” said Michael Xue from Morningside Ventures. “We are pleased to participate in the exciting model Luqa is developing, and look forward to working in assisting the company in pursuit of its vision to be a standout innovator in the derma-aesthetics market and other specialty areas.”
Luqa Pharmaceuticals is a China-focused company. We acquire, develop and commercialize innovative healthcare products that bring added value to prescribers and other healthcare providers while enhancing quality of life for patients. Since its inception in 2010, Luqa has become a fast-growing revenue generating company with a broad product portfolio and pipeline. We aim to become a leader in specialty care segments in China. Please visit us at www.luqapharma.com.
Morningside is a diversified investment group founded in 1986 by the Chan family of Hong Kong. It is engaged primarily in private equity and venture capital investments. The group has investments in North America, Europe, across Asia-Pacific, and since 1992, in Mainland China. Morningside is an active investor in early-stage life science companies formed around new technologies that represent a high degree of novelty over existing technologies. More information is available atwww.morningside.com.