China took a similar path last year as it announced new rules in an effort to speed up approvals of medicines and medical devices. That resulted in a rapid rise of several new billionaires.
Biotech companies have repeatedly tapped equity markets this year to take advantage of investor demand. Moderna Inc. went public this week, raising about $604 million.
Kumar said he first met SanBio’s management while they were in the process of relocating to Tokyo.
“We liked the management team, their long-term vision for the company and the science behind their approach to developing this treatment," he said. “They’re focusing on developing an actual cure for a medical condition," not a treatment that just improves quality of life.
This article was provided by Bloomberg News.