How many investments has Quan Capital made?

Quan Capital has 29 tracked investments, 5 of which have exited, including 2 dated in the last 24 months.

What stage does Quan Capital invest at?

Quan Capital invests at the Seed, Series A, Series B, Growth stages.

What sectors does Quan Capital focus on?

Quan Capital focuses on Biotech, Digital Health, Healthtech, Medical Devices.

Where is Quan Capital located?

Quan Capital is headquartered in Shanghai, CN.

Who does Quan Capital co-invest with?

Quan Capital most often shares deals with New Enterprise Associates (NEA), SR One Capital Management, Foresite Capital, among 48 tracked co-investors.

Quan Capital

Venture capital

Shanghai · Seed–Growth · 17 people tracked

Also known as QUAN CAPITAL MANAGEMENT, LLC

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Investment thesis

Quan Capital positions itself as a company builder in the life sciences, working to identify, incubate and grow future industry leaders. The team describes itself as industry veterans focused on capturing evolving healthcare trends and emerging cutting-edge innovations. As a preferred partner, the firm emphasizes connecting portfolio companies with an extensive network and resources both globally and specifically in China, supporting biotech and therapeutics development.

Invests inBiotech Digital Health Healthtech Medical Devices China Europe Global Grand Cayman Shanghai United Kingdom United States

Source: firm website, verified Sep 29, 2026.

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Stage

Seed–Growth

Shanghai, CN

Instruments

Equity

Founded

2017

Last 12 months

1 investment

Private fund assets

$318M

VC funds

Tracked investments

Unicorns

IPOs

Team · 17 people

from the firm's website & public directories

Ying Du· General Partner

Samantha Du· Founding Managing Director· San Francisco, California, United States

Dr. Samantha Du is Founding Managing Director of Quan Capital and the Founder, Chairperson, and CEO of Zai Lab, which she started in 2014 and took public on NASDAQ in 2017. She holds a Ph.D. in Biochemistry from the University of Cincinnati and worked at Pfizer, where she contributed to the development of products including two that gained FDA approval, before co-founding Hutchison MediPharma and Hutchison China MediTech (now HUTCHMED). She later joined Sequoia Capital China, where she led healthcare investments and served on public and private boards.

sdu@quancapital.com

Marietta Wu· 董事总经理 (Managing Director)· China & USin

Dr. Marietta Wu is a Managing Director at Quan Capital, a life sciences venture fund with offices in China and the U.S. She co-founded Zai Lab, where she served as Chief Operating Officer, and previously was a Managing Director at BVCF (Boyle) responsible for its Greater China life sciences venture business. Earlier in her career she held strategy roles at Edwards Lifesciences and worked in finance and business development at Eli Lilly. She holds an MD from Shanghai Jiao Tong University School of Medicine, a PhD in medical science from a medical school in Ohio, and an MBA from the University of Michigan Ross School of Business.

mwu@quancapital.com

Stella Xu· Managing Director· Zwolle, Overijssel, Netherlandsin

Stella Xu is Managing Director of Quan Capital, a life sciences venture fund with offices in China and the US, focusing on cross-border value creation and global investments. Before joining Quan, she held R&D leadership roles at Roche, including VP/Site Head of Roche Innovation Center Shanghai, and earlier led healthcare management consulting engagements at McKinsey in the US. She holds a Ph.D. in Immunology from Northwestern University and a B.S. in Biophysics from Peking University.

sxu@quancapital.com

Yingying Yang· Partner· Shanghaiin

Yingying Yang is a Partner at Quan Capital, based in the firm's Shanghai office, which she joined in 2017. She previously worked in Sanofi China's strategy planning group on pipeline prioritization and external licensing/M&A, and earlier as an associate consultant at L.E.K. Consulting covering healthcare and pharmaceuticals. She holds a Bachelor in Economics from Fudan University, an MSc in Finance from Imperial College London, and a dual Bachelor in Pharmacology from Shanghai Jiaotong University School of Medicine.

yyang@quancapital.com

Harald Reinhart· Venture Partner

Dr. Harald Reinhart joined Quan Capital as a Venture Partner in 2025 and is CEO of Allphase Pharma Consulting LLC, as well as Adjunct Clinical Professor of infectious diseases at Yale School of Medicine. Before retiring in 2024, he led Global Development for Neuroscience, Autoimmune and Infectious Diseases at Zai Lab, and previously held clinical development roles at Shionogi US, Novartis, and Bayer, working on approvals for compounds including ospemifene, Coartem, Famvir, Sebivo, and Cubicin. He holds a medical degree from the University of Würzburg and is board-certified in internal medicine and infectious diseases.

John Wong· Venture Partner

John Wong was a core member of Boston Consulting Group's Health Care practice and chairman of its Asia-Pacific region, and served on BCG's Global Executive and Operating committees. He focuses on the biopharmaceutical and medtech sectors, working with global pharmaceutical and medtech companies in Asia and local biopharmaceutical companies in China. Before joining BCG in 1982, he worked in R&D at Milliken Research, and he holds degrees from Imperial College London, MIT, and Harvard Business School.

Rick Xu· Venture Partner

Dr. Rick Xu is a Venture Partner at Quan Capital, which he joined in 2021, and has advised and acted as interim CMO for several of the firm's portfolio companies. He currently serves as Chief Medical Officer of Oricell Therapeutics and was previously the founding Chief Medical Officer of InnoCare Pharma (HKEX: 09969), with roughly 30 years in global clinical development at Roche/Genentech, Pfizer, and Sterling Winthrop. He earned his medical degree from Harbin Medical University, completed a Gastroenterology fellowship at Truman Medical Center, and holds a Ph.D. in Biopharmaceuticals from SUNY at Buffalo.

Angela Shen· Senior Advisor

Dr. Angela Shen is a Senior Advisor at Quan Capital and Vice President of Strategic Innovation Leaders at Mass General Brigham, where she works on translational medicine, clinical development, and regulatory affairs with a focus on gene and cell therapy. She previously served as Chief Medical Officer at biotech companies including Arcellx, NKarta, and Arvinas, acting CMO at Tizona, and held oncology drug development roles at Novartis, Exelixis, and Johnson & Johnson. At Novartis she led the clinical team behind the first multi-site registration CAR-T trial, resulting in the approval of Kymriah. She holds a BS from Rensselaer, an MD from Albany Medical College, and an MBA from NYU Stern.

Cherry Jin· Executive Assistant

Crystal Yin· Director, Finance

Lena Guo· Operation Manager

Peter Wirth· Senior Advisor

Peter Wirth has served as Chairman of the board of Syros Pharmaceuticals since 2017 and previously chaired FORMA Therapeutics Holdings LLC until its 2022 acquisition by Novo Nordisk, as well as serving as a director of Zai Lab Limited. He co-founded Lysosomal Therapeutics and held senior executive roles at Genzyme Corporation, including Executive Vice President of Legal and Corporate Development and Chief Risk Officer, and spent over 20 years as a partner and head of the biotechnology practice at Palmer & Dodge LLP. He holds a J.D. from Harvard Law School and a B.A. in Political Science from the University of Wisconsin at Madison.

Stacy Sun· Senior Accountant

Yiwei Gong· Senior Associate

Kui Wang· Senior Associate

kwang@quancapital.com

Zhanghang Yan· Vice President· Shanghaiin

Zhanghang Yan is a Vice President at Quan Capital, working on investment idea generation and portfolio management. He previously spent four years as an associate at SDIC Venture Capital, focusing on biotech and IVD, and his work includes healthcare industry research, due diligence, and deal structuring. He holds a B.S. in Biology from Nanjing University and an M.S. in Genetics and Genomics from the University of California, Davis.

zyan@quancapital.com

What they invest in

from 23 of 29 portfolio companies

Biotech ×21Healthtech ×14AI & Machine Learning ×4Digital Health ×4Medical Devices ×4Deep Tech ×3Data & Infrastructure ×1Defense Tech ×1

HQs:United States×14China×3

Who they back

founder profiles across 10 portfolio companies

60%

solo founders

6 of 10 mapped founding teams

Founding team size:solo founder×62 founders×4

Investments · 29 tracked

founders shown can be your intro path

By year:2026 · 1 2024 · 1 2023 · 2 2022 · 1 2021 · 3 2018 · 19 dated

Adicet Bioadicetbio.comNASDAQ: ACET

Adicet Bio develops allogeneic gamma delta CAR T cell therapies for patients with autoimmune diseases and cancer.

BiotechHealthtechMenlo Park, US

Aya Jakobovits(Executive Officer, Director)Nathan Hubbard(Executive Officer)inChen Schor(President, Chief Executive Officer and Director)in

Board Jonathan Silverstein(Director)in Carl Gordon(Director)inFlorent Gros(Director)

Co-investorsForesite Capital OrbiMed Pontifax Venture Capital aMoon Novartis Venture Fund PureTech Health

Designtxdesigntx.com inNASDAQ: DSGNJan 2021

Design Therapeutics is a biopharmaceutical company developing small molecule therapeutic candidates for serious genetic diseases through its GeneTAC (Gene Targeted Chimera) platform.

BiotechMedical DevicesSolana Beach, US

Pratik Shah, Ph.D.(Executive Officer, Director)Aseem Z. Ansari, Ph.D.(Director)Sean Jeffries, Ph.D.(Executive Officer)

BoardSimeon George, M.D.(Director)Stella Xu, Ph.D.(Director)Rodney Lappe, Ph.D.(Director)

Co-investorsAvoro Capital Advisors RA Capital SR One Capital Management Wellington Management WestRiver Group Quan Venture

NextCurenextcure.comNASDAQ: NXTC

Nextcure is a clinical-stage biopharmaceutical company developing immunotherapies targeting IO pathways, with a focus on oncology applications.

BiotechBeltsville, US

Michael Richman(Executive Officer, Director)Timothy Mayer(Executive Officer)in Udayan Guha(Executive Officer)inSteven P. Cobourn(Executive Officer)in Sourav Kundu(Executive Officer)inKevin Shaw(Executive Officer)in

Co-investorsBay City Capital Canaan Partners LAV Lilly Asia Ventures Pfizer Venture Investments Sofinnova Ventures +5 more

Zenas Biopharmazenasbio.com inNASDAQ: ZBIO

Zenas BioPharma is a biopharmaceutical company developing therapies for autoimmune diseases, with two late-stage drug candidates: obexelimab, a bifunctional monoclonal antibody targeting CD19 and FcγRIIb to suppress B cell activity, and orelabrutinib, an oral BTK inhibitor.

BiotechHealthtechWaltham, US

LEON O. MOULDER, JR.(Director)Lonnie Moulder(Founder)JOSEPH FARMER(Executive Officer)HUA MU(Executive Officer, Director)in

Board PATRICK GERALD ENRIGHT(Director)inHONGBO LU(Director)

Co-investorsDelos Capital Longitude Capital New Enterprise Associates (NEA)Norwest Venture Partners Pivotal Life Sciences SR One Capital Management +3 more

Crescendo Biologicscrescendobiologics.com in 𝕏Jul 2023 · $32M✓ verified

Crescendo Biologics develops novel immune cell-enhancing therapeutics for immuno-oncology using its patent-protected Humabody VH platform, a fully human domain technology clinically validated in oncology and immunology.

BiotechHealthtechMedical Devices

Co-investorsAndera Partners Sofinnova Partners Astellas Venture Management LLC EMBL Ventures Future Planet Capital Avlar BioVentures +3 more

Adcentrx Therapeuticsadcentrx.com inDec 2023

Adcentrx Therapeutics is a biotech company focused on the discovery and clinical development of antibody-drug conjugates (ADCs) for oncology.

BiotechHealthtech

Hui Li(Founder, President & CEO)in

Co-investorsEight Roads Ventures F-Prime Capital Delta Capital

Alebundalebund.com inSep 2021 · $54.5M

An innovative biopharmaceutical company focused on developing therapies for chronic kidney disease across multiple clinical stages, with a pipeline of eight products covering conditions such as hyperphosphatemia, renal anemia, IgA nephropathy, and diabetic kidney disease.

BiotechDigital HealthHealthtechMedical DevicesShanghai, CN

Co-investorsLAV Lilly Asia Ventures 3E Bioventures Capital 3H Health Investment Sherpa Healthcare Partners YuanBio Venture Capital

Arcellxarcellx.com in

Arcellx develops CAR T-cell therapies that are individually designed for each patient, using the immune system to target and attack cancer.

BiotechHealthtechGaithersburg, US

Han Lee(Executive Officer)Rami Elghandour(Executive Officer, Director)in

Board Jill Carroll(Director)in Ali Behbahani(Director)in Derek Yoon(Director)in Tiba Aynechi(Director)in

Co-investorsLG Technology Ventures New Enterprise Associates (NEA)Samsara BioCapital Sixty Degree Capital Solasta Ventures SR One Capital Management +5 more

Avenzoavenzotx.com inNov 2024

Avenzo Therapeutics is a clinical-stage biopharmaceutical company developing therapeutic treatments.

BiotechSan Diego, US

Athena Countouriotis(Co-Founder, Chief Executive Officer)Mohammad Hirmand(Executive Officer)inPaolo Tombesi(Executive Officer)inScott Lipman(Executive Officer)inBrian Sun(Executive Officer)in

BoardCarl Gordon(Director)

Co-investorsDelos Capital Foresite Capital INCE Capital Longwood Fund New Enterprise Associates (NEA)OrbiMed +6 more

Centrexion Therapeuticscentrexion.com in 𝕏

Centrexion develops therapies for the treatment of pain, focusing on the design and execution of clinical trials for pain drug development.

BiotechHealthtechBaltimore, US

James N. Campbell(President, Chief Scientific Officer)in Kerrie L. Brady(Executive Officer)inGregg Beloff(Executive Officer)Jeffrey B. Kindler(Chief Executive Officer)in Charles Oh(Chief Medical Officer)inSmital Shah(Acting CBO)in

Co-investorsCatalio Capital Management, LP EFung Capital New Enterprise Associates (NEA)6 Dimensions Capital Avoro Capital Advisors Exome Asset Management

Dmedglobaldmedglobal.com 𝕏

Caidya is a global full-service clinical research organization (CRO) that supports biopharmaceutical companies with clinical trial design, execution, and patient recruitment across more than 40 countries.

BiotechDigital HealthHealthtech

Co-investorsQiming Venture Partners

iCarbonXicarbonx.com

iCarbonX (碳云智能) develops multi-omics testing and AI-based technologies — including ctDNA detection, silicon-based biochips, TCR peptide chips, and AI drug design — to support cancer neoantigen research, clinical diagnostics, new drug development, and health management.

AI & Machine LearningBiotechDigital Health

Co-investorsThird Point Ventures

Interius BioTherapeuticsinteriusbio.comMay 2021 · $76M

BiotechPhiladelphia, US

Philip R. Johnson, M.D.(Executive Officer, Director)inDora Mitchell(Executive Officer)Lori Forrest(Executive Officer)Leon Moulder, Jr.(Director)Benjamin Lund(Director)in

BoardTomas Kiselak(Director)

Co-investorsAgent Capital DC Investment Partners Longwood Fund OUP (Osage University Partners)Pfizer Venture Investments Bain Capital Life Sciences +4 more

Kira Pharmaceuticalskirapharma.com in

Kira Pharmaceuticals is a biotech company developing therapies targeting complement biology to treat complement-mediated diseases.

BiotechHealthtechCambridge, US

Wenru Song(Founder)in

Co-investorsForesite Capital Vivo Capital Ikarian Capital

Oricell Therapeuticsoricell.com in

Oricell Therapeutics (原启生物) is a clinical-stage biopharmaceutical company developing cell therapies, including CAR-T products targeting GPRC5D for relapsed/refractory multiple myeloma and GPC3 for advanced liver cancer.

BiotechDeep TechHealthtechShanghai, CN

Helen Yang(Founder)in Iris Huang in

Co-investorsQiming Venture Partners Vivo Capital RTW Investments L.P.

Pinnacle Medicinespinnaclemedicines.com inMar 2026

Pinnacle Medicines develops oral peptide-based therapies designed to deliver antibody-like efficacy in pill form for patients with chronic diseases.

BiotechDigital HealthDoylestown, US

Chengzao Sun(Founder)inSandeep Somani(Founder)in

Co-investorsForesite Capital RA Capital LAV OrbiMed Venrock

Sail Biomedicinessail.bio in 𝕏

Sail Biomedicines develops RNA-based medicines using a platform integrating Endless RNA and targeted nanoparticle delivery technology.

AI & Machine LearningBiotechDeep TechCambridge, US

John Mendlein(Executive Chairman)

Co-investorsFlagship Pioneering Nextech Invest

Syros Pharmaceuticals, Inc.syros.com

Syros Pharmaceuticals is a Massachusetts gene-control biotech developing small molecules that regulate disease gene expression.

BiotechCambridge, US

Nancy Simonian(CEO)Peter Wirth(Director)Mark Alles(Director)Philip Sharp(Director)Richard A. Young(Director)Sue Gail Eckhardt(Director)

Co-investorsAisling Capital ARCH Venture Partners Alexandria Ally Bridge Group Bain Capital Bain Capital Life Sciences +11 more

Tempest Therapeuticstempesttx.com in

Tempest Therapeutics is a clinical-stage biotechnology company developing in vivo CAR-T cell therapies for autoimmune and oncology indications.

BiotechHealthtechBrisbane, US

Stephen Brady(Director)inMatthew Angel(Executive Officer, Director)Nicholas Maestas(Executive Officer)inThomas W. Dubensky, Jr.(Executive Officer, Director)Thomas Woiwode(Director)Geoffrey Nichol(Director)

Co-investorsF-Prime Capital LAV Lilly Asia Ventures New Enterprise Associates (NEA)Roche Venture Fund Versant Ventures

Therornatherorna.comJun 2022 · $42M

Therorna develops circular RNA-based therapeutic candidates and preventive medicines for diseases with unmet clinical needs.

AI & Machine LearningBiotechDeep TechHealthtechBeijing, CN

Co-investorsCenova Capital 3H Health Investment MSA Capital Sherpa Healthcare Partners

Windwardwindward.ai in 𝕏Jun 2018

Windward delivers AI-powered operational intelligence for maritime security and commercial applications, fusing behavioral analytics and multi-sensor data to detect threats and opportunities.

AI & Machine LearningData & InfrastructureDefense TechTel Aviv

Amiad Daniel(Executive Officer, Director)Matan Peled(Founder)inAmi Daniel(Founder)

BoardDov Gatmon(Director)Patrick Poon(Director)Eden Shochat(Director)in

Co-investorsAleph FTV Capital Thompson Hutton, LLC Janus Henderson Investors Pivotal Life Sciences Qiming Venture Partners +3 more

Windward Biowindwardbio.com in

Windward Bio is a clinical-stage biotechnology company developing long-acting monoclonal and bispecific antibodies for serious immunological conditions such as asthma, COPD, and dermatological diseases.

BiotechHealthtech

Co-investorsOrbiMed RA Capital Sanofi Ventures SR One Capital Management Janus Henderson Investors Novo Holdings +3 more

Zidanmedicalzidanmedical.com in

Zidan Medical develops an endobronchial radiofrequency ablation system, using a small flexible RF catheter with "virtual electrode" forward-throw technology to deliver targeted, temperature-controlled energy to destroy lung lesions.

HardwareHealthtechMedical DevicesCupertino, US

Don Tanaka(VP of Clinical Research)in Shashank Raina(VP of R&D)in

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

ARMO BioSciencesEluminexbioMedxtmcOriCellRareStone GroupSilexon

Exits · 5

5 IPOs · showing 4

Adicet BioNASDAQ: ACETDesigntxNASDAQ: DSGNNextCureNASDAQ: NXTCZenas BiopharmaNASDAQ: ZBIO

Portfolio news

latest coverage across their companies

Design Therapeutics Provides RESTORE-FA Clinical Development Update and Reports Second Quarter 2026 Financial Results - BioSpace

Designtx · biospace.com · Aug 3, 2026

Windward Bio Raises $165M in Crossover Funding

Windward Bio · finsmes.com · May 5, 2026

Oricell Therapeutics Closes $110M Pre-IPO Financing

Oricell Therapeutics · finsmes.com · Apr 10, 2026

Pinnacle Medicines Raises $89M in Series B Funding

Pinnacle Medicines · finsmes.com · Mar 26, 2026

Centrexion Therapeutics Corp. Secures | Signalbase

Centrexion Therapeutics · trysignalbase.com · Mar 25, 2026

Frequently asked questions

How many investments has Quan Capital made?: Quan Capital has 29 tracked investments, 5 of which have exited, including 2 dated in the last 24 months.
What stage does Quan Capital invest at?: Quan Capital invests at the Seed, Series A, Series B, Growth stages.
What sectors does Quan Capital focus on?: Quan Capital focuses on Biotech, Digital Health, Healthtech, Medical Devices.
Where is Quan Capital located?: Quan Capital is headquartered in Shanghai, CN.
Who does Quan Capital co-invest with?: Quan Capital most often shares deals with New Enterprise Associates (NEA), SR One Capital Management, Foresite Capital, among 48 tracked co-investors.

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