Zelgen sells Minsheng on $62m series B

Jan 15, 2018 • Robert Lavine

Minsheng Life Insurance has co-led a series B round for Suzhou Zelgen, which is developing drugs for diseases including cancer.

China-based biopharmaceuticals developer Suzhou Zelgen Biosciences has secured RMB400m ($62m) in a series B round co-led by insurance firm Minsheng Life Insurance, China Money Network reported today, citing a company announcement.

Venture capital firms Shenzhen Capital Group and Share Capital co-led the round with Minsheng, and were joined by Northern Light Venture Capital and China Youth Finance Network.

Founded in 2009, Zelgen is developing drugs to treat diseases such as cancer and haematological diseases (ie. those associated with blood), based…

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