Eli Lilly to Invest $100 Million in R&D in China

Eli Lilly plans to invest $100 million in R&D in China over the next five years through Lilly Asian Ventures, a spinoff of its venture capital firm Lilly Ventures.

Lilly Asian Ventures is “looking at high-potential enterprises in Asia, primarily fledgling life sciences companies engaged in early-stage life science research,” Eli Lilly spokesman Ed Sagebiel said. The fund is especially interested in firms developing new molecular entities and new drugs.

For example, Lilly Asian Ventures has invested $10 million in BioVeda China, an international venture capital fund focusing on investment in the life sciences in China.

Lilly Asian Ventures also is investing in ChemExplore, which Sagebiel described as “the largest contract research lab in China.” The company, which was started by a Chinese entrepreneur, provides synthetic chemistry services exclusively to Eli Lilly.