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Shenzhen TargetRx Raises Hundreds of Millions in Series B Financing for Drug Development
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China-based Shenzhen TargetRx, Inc., a developer of small-molecule kinase inhibitors, reportedly raised “hundreds of millions” of renminbi in a Series B financing round, with investors undisclosed. The proceeds will go towards pivotal clinical studies for TGRX-678 and TGRX-326, development of other drug candidates, and product pipeline expansion. Company and ProductsFounded…
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Zhejiang Medicine’s NovoCodex Subsidiary Receives RMB 402M Investment
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China-based Zhejiang Medicine Co., Ltd (SHA: 600216) announced that investors will inject a financial dose of RMB 402 million (USD 60 million) into its subsidiary NovoCodex Biopharmaceuticals Ltd, amounting to a combined 12.94% stake in the firm. Milestones AchievedSince the closure of its Series A financing round, NovoCodex has achieved…
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Medicilon Biomedical Plans RMB 2.16B Private Placement for R&D Expansion
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China-based Shanghai Medicilon Biomedical Co., Ltd has announced plans to raise RMB 2.16 billion (USD 322 million) through a private placement. The proceeds will be used for the Shanghai biomedicine research and development (R&D) innovation industry base program, drug discovery and pharmaceutical research and filing platform laboratory expansion program, and…
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Beijing Tianshi Tongda Raises RMB 140M for Autoimmune Disease Therapies
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China-based Beijing Tianshi Tongda Pharmaceuticals Technology Co., Ltd has reportedly raised RMB 140 million (USD 20.9 million) in an angel financing round. The round was led by Emerging Technology Partners (ETP) and Redhill Capital, with contributions from CASI Pharmaceuticals Inc. (NASDAQ: CASI). The proceeds will be used for a clinical…
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Wuhan YZY Biopharma Raises RMB 200M for Bispecific Antibodies and COVID-19 Vaccine Development
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China-based Wuhan YZY Biopharma Co., Ltd has reportedly raised RMB 200 million (USD 29.8 million) in a pre-Series C financing round led by Wuhan Hi-Tech, Hubei Science Technology Investment, and Optics Valley Financial Holding. The proceeds will be used for the clinical development of bispecific antibodies (BsAbs) and COVID-19 vaccines,…
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Zhiyi Bio Raises RMB 100M in Series B++ Round for LBP Pipeline Development
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China-based leading live biotherapeutics (LBP) company Guangzhou Zhiyi Biotechnology Co., Ltd has recently raised RMB 100 million (USD 14.93 million) in a Series B++ financing round. The round was led by SDIC Venture Capital, Guangzhou Development District Investment Group, and Guangzhou Helichuangxing Group Co., Ltd. The proceeds will be used…
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Hengrui Medicine’s Generic Tacrolimus Wins NMPA Approval for Transplant Rejection Prevention
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China-based Jiangsu Hengrui Medicine Co., Ltd (SHA: 600276) announced that it has received market approval from the National Medical Products Administration (NMPA) for its generic version of Astellas’s tacrolimus. The drug is approved for use in the prevention of graft rejection after kidney transplantation, prevention of graft rejection in the…
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Harbour BioMed’s Partner NK Celltech Raises RMB 100M in Series A Financing
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China-based Harbour BioMed (HKG: 2142) announced that its strategic partner NK Celltech, a company focusing on NK cell-based cell therapies, has successfully raised over RMB 100 million (USD 14.9 million) in a Series A financing round. The round was led by HUAGAI Capital, with participation from CAS Venture Capital, Qiandao…
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Corestar Biotech Secures Series A Funding for POCT R&D Expansion
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Shenzhen-based point-of-care testing (POCT) specialist Corestar Biotechnology Co., Ltd has raised “tens of millions” of renminbi in a Series A financing round led by IDG Capital. The proceeds will be used for research and development (R&D) laboratory construction, new product pipeline expansion, and team expansion. Company BackgroundFounded in 2017, Corestar…
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Great Robotics Raises RMB 100M for Surgical Robot Development
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Great Robotics, a Beijing-based medical robotics company, has reportedly raised close to RMB 100 million (USD 14.9 million) in a pre-Series A financing round. The round was led by INCE Capital, with participation from Orient Jiafu Asset Management. The proceeds will be used for testing and clinical studies of an…
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Visum Pharma Series B+ Financing to Advance R&D and GMP Workshop Construction
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Visum Pharmaceutical Co., Ltd reportedly raised close to RMB 100 million (USD 14.9 million) in a Series B+ financing round led by Zhejiang Hisoar Pharmaceutical Co., Ltd (SHE: 002099). The proceeds will be used to support the research and development (R&D) of high-end preparations and the construction of a GMP…
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Dakang Medical Secures RMB 400M in Series E Round for Hemodialysis Center Expansion
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Dakang Medical (DiaCare Medical), a Beijing-based provider of blood purification chain medical services, has reportedly raised RMB 400 million (USD 59.7 million) in a Series E financing round, the largest deal in the segment. The round was led by Jiangxi Ganjiang New District Development and Investment Group Co., Ltd, with…
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Youwe Bio’s Series B Financing to Advance Microneedle Technology Commercialization
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China-based Youwe (Zhuhai) Biotechnology Co., Ltd, a developer of soluble microneedle transdermal drug delivery technology, has reportedly raised close to RMB 100 million (USD 14.9 million) in a Series B financing round. Cenova Ventures was the sole investor. The proceeds will be used for the commercialization of soluble microneedle technology…
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Gritgen Therapeutics Secures Hundreds of Millions in A-Round Financing for Gene Therapy Pipeline
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Gritgen Therapeutics, a leading gene therapy drug developer based in Suzhou, has announced the successful completion of a A-round financing round worth several hundred million yuan. The financing was led by Sequoia China, with participation from Sunlight Insurance, Qingsong Capital, and Beijing Life Science Park Venture Fund. Existing shareholders including…
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Shenzhen-Based Pregbio Raises Funds for Non-Invasive Prenatal Gene Detection
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Pregbio, a Shenzhen-based non-invasive prenatal gene detection company, has reportedly raised an undisclosed amount of money in an angel financing round. The sole contributor to the round was ASB Ventures. The proceeds will be used to promote early screening and diagnosis of preterm labor and pre-eclampsia, non-invasive prenatal screening, and…
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Exegenesis Bio Secures Multi-Million Dollar Series B Financing for Gene Therapy Pipeline
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Exegenesis Bio Inc., a leading gene therapy company, has successfully completed a Series B financing round, raising tens of millions of dollars. The round was led by Legend Capital, with Boyuan Capital, Taikang Capital, and previous investors Xianfeng Qiyun and Kaitong Capital participating. The funds raised will be directed towards…
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Asymchem Laboratories Secures RMB 2.31 Billion Private Placement with Hill House Capital Subscription
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Asymchem Laboratories (Tianjin) Co., Ltd, a renowned Contract Development and Manufacturing Organization (CDMO) based in China and listed on the SZSE under the ticker (002821), has unveiled a significant private placement initiative. The company will issue 18,700,000 A shares at a price of RMB 123.56 per share. Hill House Capital,…
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LanssonPharm Secures Series A Funding to Accelerate CNS Drug Development
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LanssonPharm, a company dedicated to the development of central nervous system (CNS) drugs, has announced the completion of a Series A funding round worth tens of millions of yuan. The financing was led by Yipu Capital, with follow-on investments from Qianrong Capital and existing shareholder Northern Light Venture Capital. This…
