Aeneas Capital & Pyrinas Target Launch of US$120m Fund to Develop Co-Working Laboratory Ecosystems for Life Sciences Start-Up...
May 15 2019 - 8:00PM
Business Wire
- Aeneas Capital and Pyrinas, both
affiliated companies to Aptorum Group Ltd (Nasdaq: APM), is
launching its flagship fund - Pyrinas US Healthcare Real Estate
Fund 1 SP – to acquire and develop co-working space and incubator
facilities for the life sciences sector in the United States;
- Opportunity to invest in one of the
most vibrant real estate sectors in the U.S. that is currently not
available in most of the Asia Pacific countries. A great
geographical and asset class diversification of Asia Pacific real
estate investment;
- Tap into the life sciences sector that
generally has one of the highest barriers to entry amongst
different industries;
- Experienced and unique
advisory/management team in this specific sector with established
operation track record.
Aeneas Capital Limited (“ACL”) and Pyrinas Real Estate
Management Limited (“Pyrinas”), based in Hong Kong, is launching a
US$120m innovative closed-ended property fund – Pyrinas US
Healthcare Real Estate Fund 1 SP – with a geographical focus on
selected cities across North America. Supported by the ecosystem of
its affiliated company, Aptorum Group (Nasdaq: APM), the fund’s key
investment objective is to acquire and redevelop real estate into
shared laboratories and incubator facilities for life science
sector start-ups, one of the most vibrant sectors in North America.
The fund will focus its investments in primarily four North America
mandated cities (namely Cambridge, Boston, Houston, and San
Francisco in the United States and Toronto in Canada).
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Existing laboratory facilities managed by
Pyrinas (Photo: Business Wire)
Mr. Matthew Wong, Chief Executive Officer of Pyrinas,
commented, “These cities have been selected in view of several
crucial factors that we believe are best positioned to take
advantage of the robust growth in the life science industry. The
fund will focus on acquisition and development of real estate
suitable for the healthcare and life science sector, particularly
in operating laboratories with a co-working space model. We are
seeing increasingly robust demand for space by life science
companies and start-ups, who are encouraged by the rapidly growing
venture capital investment market in North America.”
The fund is targeting a launch size of up to US$120 million with
a targeted return of 15-19% per annum (Net IRR) over a period of
four years with one-year extension. Pyrinas is currently in
discussions with a number of institutional investors and
collaborative partners.
Together with its affiliated company Aptorum Group Limited
(Nasdaq: APM) and Aeneas Capital, the fund also aims to nurture
medical research, the development of intellectual property, and
collaboration between scientists, researchers, investors, and
industry participants; while providing real estate solutions that
foster an ecosystem for collegial interactions among industry,
investors, government and academia.
The fund is targeted for institutional and professional
investors only and subject to restrictions in certain
jurisdictions.
About the Group
Pyrinas Real Estate Management Limited (”Pyrinas”), the
real estate arm of Aeneas Group and an affiliate of Aptorum Group,
was established in 2018. Pyrinas currently is managing two
laboratory facilities and one clinic facility in Hong Kong. For
more information about Pyrinas, please visit
www.pyrinasgroup.com.
Aeneas Group Limited, the parent company of Aeneas
Capital Limited (“ACL”), is a multi-disciplinary financial
institution with cross border capabilities and technology services.
For more information about Aeneas Group Limited, please visit
www.aeneasgroup.com.
Aptorum Group Limited (Nasdaq : APM) is a
biopharmaceutical company currently developing a portfolio of
therapeutic candidates and medical devices, and is dedicated to
developing and commercializing its portfolio of technologies to
tackle unmet medical needs observed globally. For more information
about Aptorum Group Limited, please visit www.aptorumgroup.com.
Disclaimer. The information contained in this press
release should not be construed as an offer of, or a solicitation
for an investment in, securities or any other financial instrument
in any jurisdiction.
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PyrinasEmail: info@pyrinasgroup.comTelephone: +852 3469
7903
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