GL Capital has successfully closed a $240 million continuation vehicle for SciClone Pharmaceuticals, supported by the Abu Dhabi Investment Authority, enabling further growth and strategic development in the oncology market.

Target Company Overview

GL Capital, one of China's premier private equity firms specializing in healthcare, has finalized a continuation vehicle valued at approximately $240 million for SciClone Pharmaceuticals. Since its initial investment in 2012, SciClone has emerged as a prominent player in the Chinese pharmaceutical sector, particularly focusing on oncology and immunology. The new continuation vehicle is designed to allow GL Capital to maintain its stake in SciClone and further enhance the company’s operational capabilities, advance its drug development pipeline, and explore strategic business growth opportunities.

This transaction stands out as one of the most significant GP-led secondary deals conducted in China this year, offering a complete exit for the GL Capital Opportunities Fund II, which made its investment in 2017. The limited partners from the fund were presented with the choice to either remain engaged with the company for future growth or to opt for liquidity at a favorable return.

Industry Overview in China

China's pharmaceutical industry is experiencing substantial growth, driven by increasing healthcare demands and government policies that favor innovation and access to advanced medical treatments. The oncology drug market, in pa