The proceeds will further advance its product pipelines.
Veminsyn, recently announced its completion of a Series A financing round valued at nearly CNY 100 million.
The round was led by Citic Capital, with participation from Yangzijiang International Tiyuchang Road Industrial Park and the existing investors Zhen Fund, Jiacheng Capital and Hony Capital. Cyguse Equity acted as the exclusive financing advisor.
The proceeds will mainly be used for product development, team building and the expansion of its manufacturing capacity.
Founded in 2021, Veminsyn is a biotech company focusing on innovative development and manufacturing of bioactive materials in the field of beauty care. It is dedicated to discovering high-value bioactive ingredients, and realizing the low-carbon manufacturing and production of bioactive materials by leveraging the next-generation synthetic biology technology, to provide high-quality, safe, effective and green raw materials for downstream customers. Veminsyn has become the upstream raw material supplier of many well-known brand products in the industry in China, including Zhuben, Helius, Bloomage Biotech, Cistto, ClorisLand, Peterson's Lab, Anewcos and KATO.
Through the self-developed platform 'Vemin', it has opened up a full chain for the bio-innovation consisting of 'Discovery' - 'Construction' - 'Manufacture'. Veminsyn has realized the mass production and sales of a series of new bioactive materials, and is expected to build its own GMP factory within this year. One of its core products, Time-COL17™-001, retains the activity of type 17 collagen while allowing it to be absorbed through the skin care pathway, which greatly expands the application scenarios and product forms of downstream skin care brands.
"We hope to continue to expand to more diverse downstream products and broader international market, and eventually become a global leading supplier of bioactive materials with innovative capabilities.' Zhao Yaran, Ph.D, the founder of Veminsyn, told EqualOcean.