Cash Capital has participated in a $70m series B round for Shanghai ZhenGe Biotechnology, bringing the company’s total financing to $125m.
Shanghai ZhenGe Biotechnology (ZGBiotech), a China-based contract development and manufacturing company, has secured $70m in a series B round featuring Cash Capital, the investment arm of Chinese Academy of Sciences, according to DealStreetAsia.
Qiming Venture Partners and IDG Capital co-led the round, which also attracted China Merchants Bank’ CMB International, GP Capital, Hangzhou Fulin Investment, Lyfe Capital and Guofang FOF.
ZGBiotech launched as a subsidiary of ZenCore in 2017, targeting clinical-stage and investigational new drug application-stage pharmaceutical companies. Its offering helps clients develop and manufacture vaccines, a wide range of antibodies and antibody-drug conjugates.
The series B capital will allow the company to build manufacturing facilities in Shanghai.
The company has now secured $125m in funding altogether, DealStreetAsia said. It previously secured $51m in a series A round backed by IDG Capital, Korea Investment Partners China, Lyfe Capital, Guofang FOF, GT Capital and Co-win Capital.
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
