JHM Biopharma Raises CNY 200 Mn in Series A1 Funding Round

JHM Biopharma(Chinese:君合盟) completed a CNY 200 million (USD 28.11 million) Series A1 financing round jointly led by Tonghua Investment Group(Chinese:通化国投) and Guangdian Capital(Chinese:光点资本), followed by Zhonghe Oupu Medical and Health Fund(Chinese:中合欧普), Focus Fund(Chinese:聚焦基金) and Hoshi Capital(Chinese:红什资本).

WinX Capital(Chinese:凯乘资本) acted as the exclusive financial adviser for this round. The funds raised in this round will be used primarily for the rapid expansion of JHM Biopharma's product pipeline and the construction of a commercial manufacturing base with GMP facility requirements. 

Founded in 2020, JHM Biopharma is one of the first echelons of enterprises in China to achieve the expression of the recombinant botulinum neurotoxin type A. And the company is planning for an IND submission.

Meanwhile, the company synchronized the arrangement of long-acting and short-acting growth hormones. JHM Biopharma's production process will significantly reduce the manufacturing cost of its long-acting growth hormone preparations, which will assist break through the barriers to commercialization.

Moreover, it has built a nearly 8,000-square-meter GMP warehouse at Hangzhou Medical Port, which can meet the production and commercialization needs of the company's product pipeline.

Sino Biological(Chinese:义翘科技) and ACRO Biosystems(Chinese:百普赛斯) are two competitive enterprises in the protein reagents area. MingMed Biotech's(Chinese:因明生物) recombinant botulinum toxin type A injection was also approved for clinical trial application in the first half of 2022. Moreover, strategic targets of overseas recombinant protein companies continue to flock to the Chinese market, and competition will intensify further.