Editor's note: We at EqualOcean tracked the major funding rounds or industry events that took place in China’s healthcare space in August 2022. And the following is a list of deals that we have selected for you, based on a number of criteria including the funding amount, the financial backers, and the segments in which the startups operate.
Acchrom Tech (Chinese: 华谱科仪) announced its completion of the Angel financing round worth CNY 100 million (USD 14.45 million) in late August. The round was led by BioTrack Capital (Chinese: 博远资本), with the participation from CDBI Partners (Chinese: 辰德资本) and SDIC Unity Capital (Chinese: 国投创合). Changhai Capital (Chinese: 长海资本) acted as the exclusive financial advisor for this round. The funds will be used to improve the company's capacity to provide clients with overall chromatography solutions. Founded in 2015, Acchrom Tech is one of the few high-end Chinese chromatography brands that can break the monopoly of foreign brands and realize the closed loop of chromatography equipment, consumables, software and services. The company has established a rich product matrix for high-performance liquid chromatography (HPLC) and Ultra-high performance liquid chromatography (UHPLC).
Digital 3D printing solution provider Prismlab (Chinese: 普利生) announced the completion of the Series C round of financing worth CNY 200 million (USD 29.18 million). The round was led by Qiming Venture Partners (Chinese: 启明创投), with the participation from the existing shareholders BASF Venture Capital (Chinese: 巴斯夫创投) and Jolmo Investment Management (Chinese: 金雨茂物). InvesTarget (Chinese: 多维资本) served as the exclusive financial advisor. Prismlab will use the funds to further expand its domestic and overseas business, including upgrading and iterating existing product lines, expanding the plant, introducing micro nano 3D printing-related talent and developing new technology. Founded in 2005, Founded in 2005, Prismlab specializes in the development, production, sales and service of high-speed Stereo Lithography Apparatus (SLA) 3D printers.
JJET (Chinese: 锦江电子), an innovative leading company in the electrophysiology industry, completed the Series A+ and B rounds of financing in late August. The round was jointly invested by Xinda Kunpeng (Chinese: 信达鲲鹏), Guanghua Wutong (Chinese: 光华梧桐), Hangzhou Yuanheng Lizhen (Chinese: 杭州元亨利贞), WEGO (Chinese: 威高集团) and HM Capital (Chinese: 惠每资本). The company completed the Series A financing round led by Hillhouse Capital (Chinese: 高瓴资本) in December 2021. It has so far raised more than CNY 700 million. The funds will be used to advance the clinical trial registration of several heavyweight electrophysiology products and the R&D of the company's subsequent innovative products. JJET will also use this funding to improve its organizational structure and commercialization system and to enhance its competitive advantages in the domestic and global electrophysiology field. Founded in 1991, JJET is focused on the R&D, production, and marketing of cardiac electrophysiology devices, including the 3Ding Cardiac Mapping System, Electrophysiology Recording System, Cardiac RF Ablation Generator, Irrigation Pump, Electrophysiology Catheters, Ablation Catheters, Neural RF Generator etc.
Porton Advanced Solutions
Porton Advanced Solutions (Chinese: 博腾生物), a subsidiary of the leading CDMO Porton Pharma Solutions (Chinese: 博腾制药), raised CNY 520 million (USD 75.4 million) in the Series B round of financing in mid August. The round was led by China Merchants Health (Chinese: 招商健康), with the joint investment from China Merchants Capital (Chinese: 招商资本), China Merchants Securities Investment (Chinese: 招商证券投资), Fosun Health Capital (Chinese: 复健资本), Guangdong Mintou Private Equity Fund Management (Chinese: 粤民投基金) and SDIC Taikang Trust (Chinese: 国投泰康信托). The existing shareholders Porton Pharma Solutions, SDIC (Chinese: 国投招商), HM Capital (Chinese: 惠每资本), Huashan ruilian (Chinese: 华杉瑞联) and Shijie Investment Management (Chinese: 时节创投) also participated in this round. The funds will be used to accelerate the company's construction and operation of the commercial production base, and improve the end-to-end Gene and Cell Therapy CDMO platform. Established in 2018, as a Gene and Cell Therapy company, Porton Advanced Solutions is dedicated to providing end-to-end biopharma solutions and services to its clients.
E-nitiate Biopharmaceuticals (Chinese: 启元生物) secured CNY 100 million (USD 14.49 million) in the Series A round of financing in late August. The round was led by Momentum Venture (Chinese: 时节创投), with the participation from Taikun Fund (Chinese: 泰鲲基金), Linping National Investment (Chinese: 临平国投) and Hangzhou Jintou Industry Fund (Chinese: 杭州金投产业基金). Start Point Advisory (Chinese: 行远致同) served as the exclusive financial advisor for this round. The funding will be used to advance the clinical development of several pipelines, including QY201 and QY101 pipelines, and to further expand its R&D pipelines. Founded in 2020, the company is committed to the development of innovative drugs for autoimmune diseases, through independent research and development, and strategic collaborations, to address unmet medical needs and to improve the quality of human life.
Biopharma CDMO services provider ZhenGe Biotech (Chinese: 臻格生物) announced its completion of the Series C+ financing round worth CNY 100 million (USD 14.49 million) in mid August. The round was led jointly by Sinopharm-CICC Capital (Chinese: 国药中金), Zhangkeherun (Chinese: 张科禾润), Lingang Blue Bay Capital (Chinese: 临港蓝湾资本) and Spinnotec (Chinese: 浦东科创). The funds will be used to strenghen the company's global R&D center and to expand production capacity in line with the Good Manufacturing Practice of Medical Products (GMP) to meet customers' needs. Established in 2017, ZhenGe Biotech provides one-stop CDMO services from preclinical research to commercial production and customization of cell culture medium R&D and production. The company is dedicated to promoting R&D and industrialization of macromolecular biologic drugs for domestic and foreign pharmaceutical companies.
Healsun Biopharm (Chinese: 皓阳生物), focusing on providing antibody/recombinant protein CDMO services, completed the Series B round of financing worth nearly CNY 250 million in mid August. The round was led by Shanghai Biomedical Fund (Chinese: 上海生物医药基金), with the participation from Oriental Jiafu Asset Management (Chinese:东方嘉富), Haitong Capital (Chinese: 海通开元), Xinghua Dingli (Chinese: 兴华鼎立) and the existing investors Haibang Capital (Chinese: 海邦投资) and Yinxinggu Capital (Chinese: 银杏谷资本). Instant Capital (Chinese: 刹那资本) is the exclusive financial advisor for this round. The funds will be used to improve its team, build a 2000L production line and solve the CMC difficulties of exosomes, mRNA and AAV. Founded in 2015, Healsun Biopharma is dedicated to offering end-to-end services from early developability assessments, stable cell line construction, culture medium customization, process development (including ADC) to pilot production, IND application and clinical production with multiple platforms .
Bennu Biotherapeutics (Chinese: 毕诺济生物) announced its completion of the Angel+ financing round worth over CNY 100 million in mid August. The round was led by INCE Capital (Chinese: 渶策资本), with participation from Life Science Park Innovation Fund (Chinese: 生命园创投) and Witruth Capital (Chinese: 智诚资本). The funding will be used to advance the company's product pipelines in preclinical studies and clinical development globally. Founded in 2021, Bennu Biotherapeutics has raised hundreds of millions of CNY so far. Engaged in innovative T-cell therapies, the company has built a unique T-cell fate regulation target development platform and T-cell engineering transformation platform. Besides, Bennu Biotherapeutics is committed to developing next-generation cellular therapies based on multiple T-cell types to solve the problems of existing therapies and bring revolutionary innovation to this field.
Trautec Medical (Chinese: 创健医疗) announced its completion of the Series A equity financing round worth nearly CNY 200 million in early August. The round was led by Ziyue Funding (Chinese: 资悦基金), with the participation from Huafang Asset Management (Chinese: 华方资本), CDH Investments (Chinese: 鼎晖投资) and Holley Pharma (Chinese: 华立医药). The funding will be used to help the company expand investment in technological innovation and product development and to bring more core technologies and products to the recombinant collagen-based biomaterials market. Founded in 2015, Trautec Medical is a scientific and innovative company focusing on the development, production and sales of new biomaterials and innovative protein/nucleic acid drugs with the scientific concept and key technology of synthetic biology as its core. The company has an excellent technical team with independent intellectual property rights in developing recombinant collagen.
Health Gene Technologies
Health Gene Technologies or HGT (Chinese: 海尔施基因) completed hundreds of millions of CNY in the Series C round of financing in early August. The round was led by Shenzhen Capital Group (Chinese: 深创投), with the participation from BioTrack Capital (Chinese: 博远资本), Hefeng Venture Capital (Chinese: 和丰创投), Yingong Venture Capital (Chinese: 鄞工创投) and Binjiang Development Investment (Chinese: 滨江开投). HGT will use the funds to explore new technologies and to develop news products. Founded in 2011, HGT is a high-tech company specialized in nucleic acid molecular testing product development, manufacturing and services. The company is dedicated to providing premium solutions for multiplexed nucleic acid detection in precision medicine, individual identification and other related fields.
CDMO company Intellective Biologics (Chinese: 智享生物) announced the completion of the Series C financing round worth over CNY 500 million in early August. This round was led by CTS Capital (Chinese: 清松资本) and Gaorong Capital (Chinese: 高榕资本). Fuho Capital (Chinese: 富汇创投), CNCB (BeiJing) Equity Investment Fund Management (Chinese: 信银投资北京), Founder Securities Investment (Chinese: 方正证券投资) and Win Harbor Capital also participated in this round. Tri-River Capital (Chinese: 三江资本) served as the financial advisor for the round. The funds will be used for the rapid expansion of commercial production capacity, comprehensive upgrading of technology platforms, international business development and expansion of talent teams. Founded in 2018, Intellective Biologics is committed to providing Chinese and global customers with early pharmacology and toxicology research samples, IND registration batches, global multi-center clinical Phase I-III trial drugs, and commercial circulation of post-marketing biological drugs.
Taibang Biologic Group
Taibang Biologic Group (Chinese: 泰邦生物) harvested USD 300 million in a single financing round led by Platinum Orchid, a subsidiary of the Abu Dhabi Investment Authority (Chinese: 阿布扎比投资局), and the Government of Singapore Investment Corporation (Chinese: 新加坡政府投资公司) in early August. China Life Private Equity Investment (Chinese: 国寿股权) and Xinda Kunpeng (Chinese: 信达鲲鹏) also participated in this investment. The funds will be used to provide extensive resources for Taibang in various aspects such as plasma station expansion, new product development, and growing its business in China's market. Founded in 2002, Taibang is a leading Chinese biopharmaceutical company that provides a comprehensive range of plasma-derived products. The company's core business includes the development, manufacturing and sales of plasma-derived products and other biopharmaceutical products.
Sironax (Chinese: 维泰瑞隆) raised USD 200 million in the Series B financing round in early August. The round was led by Yunfeng Capital (Chinese: 云锋基金) and Gaorong Capital (Chinese: 高榕资本), with the participation from the existing investors Temasek (Chinese: 淡马锡), Invus, F-Prime Capital, Eight Roads (Chinese: 斯道资本), ARCH Venture Partners and K2 Venture Partners (Chinese: 险峰旗云). MSA Capital (Chinese: 和玉资本), a subsidiary of the Abu Dhabi Investment Authority (Chinese: 阿布扎比投资局), CBC Group (Chinese: 康桥资本), Jiangyuan Investment (Chinese: 江远投资), Life Park Venture Fund (Chinese: 生命园创投基金), Superstring Capital (Chinese: 超弦资本) and Future Innovation Fund. The proceeds will be used to help the company promote its clinical programs. Founded in 2017, Sironax focuses on the discovery and global development of novel treatments for patients with age-related degenerative diseases. The company has built a diverse pipeline of multiple programs, focusing on key mechanisms underlying age-related degenerative diseases including regulated cell death, neuroprotective pathways and neuroinflammation.
Cygnus Bio (Chinese: 赛纳生物), focusing on the research and development of domestic gene sequencers, announced its completion of the Series C+ financing round worth over CNY 200 million in early August. The round was led by China State-owned Enterprise Structure Adjustment Fund II (Chinese: 中国国有企业结构调整基金二期), with the participation from Wuxi Guolian Guokang Health Industry Investment Center (Chinese: 无锡国联国康健康产业投资中心). Probe Capital (Chinese: 探针资本) served as the exclusive financial advisor for this round. Cygnus Bio will use the funds to continuously develop gene sequencing technology and to drive the wider application of high-throughput sequencing technology. Established in 2015, Cygnus Bio is a high-tech company integrating R&D, transformation, production and marketing of gene technology. Relying on Fluorogenic Sequencing technology and Error-Correction Code technology, the company is committed to providing core equipment for life science research and gene diagnosis.
Third-party healthcare platfrom Health Plus (Chinese: 优加健康) received a strategic investment from Meinian Health Industry Fund (Chinese: 美年大健康产业基金) in late August. The amount was undisclosed. Health Plus will improve its ability to construct managed healthcare services networks and to provide innovative insurance products and healthcare services based on different scenes, groups of people and diseases with the fresh proceeds. Founded in 2017, Health Plus is a digital healthcare provider dedicated to providing full-process customized solutions including "medical+health+insurance" services for insurance companies, channels and users.