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 editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
