CHARLOTTE, N.C., Oct. 13, 2016 /PRNewswire/ -- CMP Investments, a venture capital fund with offices in China and the US, just announced a significant investment in MedBlue Incubator Inc. MedBlue was founded in 2013 to assist in the identification of promising new science and technology from the Duke University Medical Center, around which cutting-edge new companies will be formed to create innovative products for patients and bring value to the University. MedBlue's relationship with Duke University serves as an extremely important platform and connection to the transformative discoveries created at Duke.
Barry Myers, MD, PhD, Professor and Managing Director, Duke Office of Licensing and Ventures, said, "CMPs dedicated commitment to Duke University coupled with its extensive knowledge of and strong footprint in China and the Asia/Pacific markets make it an important strategic partner benefiting the Duke community and the companies developed here. We look forward to CMP providing their unique value to the MedBlue portfolio companies in creating access to these important markets and future funding opportunities."
"Duke University is an exceptional place for biomedical innovation and discovery," commented Allan Kirk, MD, PhD, Chair of the Department of Surgery at Duke University School of Medicine and Surgeon-in-Chief of the Duke University Health System. "Many of our outstanding faculty are also exceptionally creative inventors, and it is this quality that allows Duke physicians to care not only for today's patients but also for patients of the future. MedBlue was formed to provide strategic support for Duke University faculty inventors providing targeted investment in novel biomedical innovations. Today's announced support of MedBlue continues its growth, and ensures that all the great ideas arising daily at Duke University will be nurtured and turned into products that will directly help patients."
"As a graduate of Duke University's Fuqua School with a PhD in Chemistry," Jianli Wang, CEO of CMP Investment and a significant donor to Duke University observed, "Over the years, I have admired the scientific innovations generated by the University. MedBlue is the perfect entity to bring those creative products to an international audience. Just as we were able to support Duke opening a campus in China, I hope with this investment we will be able expose Duke's innovations to a global audience."
CMP will act as a designated representative of MedBlue in Asia.
CMP's Senior Partner and Managing Director for CMP's Asia Pacific operation, Mr. Yupeng Song expresses great enthusiasm and confidence on the partnership with MedBlue, "Now as a shareholder in MedBlue, we are excited to help these young companies enter the Asian Pacific market. As the companies develop, we will also be able to introduce them to additional capital options to grow their businesses. We look forward to bright future with MedBlue."
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