The diabetes treatment developer, which counts Tasly and Legend Star among its investors, has received what it referred to as pre-IPO funding.

Pegbio, a China-based diabetes and obesity drug developer backed by pharmaceutical firm Tasly, has raised about RMB800m ($122m) in funding, DealStreetAsia reported yesterday, citing a company post on WeChat.

Private equity firms YF Capital and Yingke PE co-led the round with life sciences investment firm TF Capital, investing alongside Qianhai FoF, Zhongxin Huihai Investment Fund Management, YuanBio Venture Capital and Yuanfeng Capital.

Founded in 2008, Pegbio is developing therapeutics for chronic disorders such as diabetes, fatty liver, constipation, cardiovascular disease…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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