Ally Bridge Group Leads US$150 million Financing for Three U.S. Companies Amidst the COVID-19 Pandemic

Ally Bridge Group Leads US$150 million Financing for Three U.S. Companies Amidst the COVID-19 Pandemic

PR Newswire

NEW YORK and HONG KONG, May 21, 2020

Bringing Total Ally Bridge-led Private Life Science and Healthcare Investments to US$650 million over the Last 24 Months

NEW YORK and HONG KONG, May 21, 2020 /PRNewswire/ -- Ally Bridge Group ("ABG"), a leading global life science investment group, has announced that it led three investments in the U.S. -- two medtech and one telehealth -- in April, 2020 amidst the COVID-19 pandemic. Each of the three companies is a commercial-stage leading innovator re-setting the standard of care in its respective category. They include:

"The COVID-19 pandemic is undoubtedly a watershed event for life science and healthcare around the globe, and further strengthens ABG's commitment to leading high-impact investments in game-changing innovations in this space," said Frank Yu, Founder, CEO and CIO of Ally Bridge Group. "Vida and Rapid Micro represent ABG's first private investments in telehealth and life science tools, respectively, and are extensions of our investment franchise currently focused on medtech and biotech."

"While these three new investments highlight ABG's focus on addressing some of the fundamental healthcare challenges exposed by the COVID-19 pandemic, several of ABG's existing biotech portfolio companies are at the forefront of developing novel therapeutics against the coronavirus," adds Yu.

About Ally Bridge Group

Ally Bridge Group ("ABG"), founded and led by Frank Yu (previously at Goldman Sachs and Och-Ziff Capital) and based in New York and Hong Kong, is a global healthcare investment firm focused on funding and supporting the world's most innovative life science technologies benefiting many millions of human lives and leading high-impact transactions. Over the past four years, ABG has led over US$4 billion investments in world-leading life science companies in the U.S., China and Europe. For more information, please visit www.ally-bridge.com.

Contact:

Charles Chon
Partner, Managing Director -- Medtech
Ally Bridge Group
Tel: +852-3121-9699
charles.chon@ally-bridge.com

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