Chengdu Taihe Weiye Biotechnology Co., Ltd, a Chinese developer of protected amino acids drugs, has reportedly secured nearly RMB 300 million (USD 42 million) in a Series A+ financing round, following its RMB 200 million (USD 28 million) Series A funding in August this year. The latest round was co-led by CITIC Securities and Goldstone Investment, with contributions from Qiming Venture Partners, HighLight Capital, and Grandway Capital, as well as existing investors GL Ventures, CICC Capital, and GF Xinde Investment.
The funds will be directed towards scaling up production at the company’s 240-acre Phase II factory and constructing the 500-acre Phase III factory, with the 1,000-acre Phase I, II, and III factories expected to begin operations by 2025.
Established in 2013, Taihe Weiye Bio is known for its industry-leading protected amino acid series, non-natural protected amino acid series, fragment peptide series, amino acid (linker) resin, GLP-1 side chain, and raw materials, enabling the company to collaborate with approximately 100 pharmaceutical companies and CDMOs worldwide.- Flcube.com
