China-based Hasten Biopharmaceutical Co., Ltd has reportedly received USD 315 million in a fundraising round co-led by CBC Group and the Abu Dhabi sovereign wealth fund Mubadala Investment Company, with participation from other unnamed institutional investors. The capital raised is intended to fund future acquisitions and deal-making focused on innovative pipeline assets.
Hasten Bio’s Background and Strategy
Established in 2020 with backing from the Singapore-based CBC Group, as well as the Hefei Industry Investment Group and Feidong County in Hefei, Anhui province, Hasten Bio aims to establish a fully integrated biopharma operation. The company’s strategy revolves around in-licensing and an internal innovative discovery pipeline, positioning it to address unmet medical needs.
Notable Acquisition and Future Plans
The firm made headlines with the acquisition of five of Japan-based Takeda Pharmaceutical’s China drug portfolio at a cost of USD 322 million. Hasten Bio CEO Summer Xia highlighted that the company’s focus is on “chronic and age-related diseases, and acute and severe diseases.” Xia expects the latest funding round to “catalyze our growth and expansion plans” by enabling more deal-making activities.-Fineline Info & Tech
