AstraZeneca's Chinese investment bank partner raises $229M for its own new fund — and it's all about the coronavirus

Last November’s news about AstraZeneca launching a $1 billion venture fund with China International Capital Corporation (CICC) to invest in up-and-coming players was widely viewed as illustrative of the British drugmaker’s ambitions in China. As it turns out, it’s just as much about CICC — China’s largest investment bank — and its plans in biomedicine.