GemPharmatech Raises ￥400M in Series B Funding Round

According to VCBeat, on September 11, 2020, GemPharmatech Co., Ltd. ("GemPharmatech") announced that it had completed a Series B financing worth more than 400 million yuan, led by GL Ventures, with additional support from YF Capital, Morgan Stanley, Sequoia Capital China, TF Capital and others. 

Proceeds from the latest round will be mainly used for the construction of GemPharmatech's headquarter in Nanjing, the development of gene-modified animal models, and the expansion of domestic and foreign markets. 

In July 2019, GemPharmatech raised 160 million yuan in Serie A round from CDH Investment and Sinopharm Group. 

Founded on December 29, 2017, GemPharmatech provides gene-modified mouse models for biomedical and pharmaceutical companies. The company holds the leading technology of gene editing, stem cell engineering, physiological and biochemical function analysis, and drug efficacy screening.

Based on more than 16 years’ practice in laboratory animals of the former entity, GemPharmatech is striving to become the best one-stop service center for production, distribution, and phenotyping of gene-modified mouse models. 

GemPharmatech has established production and R&D bases in Chinese cities including Guangdong, Hong Kong and Macao. In addition to the head office in Nanjing, GemPharmatech has several wholly-owned subsidiaries in Guangdong and Jiangsu. And the precision medical base built in Sichuan is also expected to be put into use in October. By the end of 2020, GemPharmatech breeding capacity of mouse models in China will exceed 150,000 cages.

GL Ventures was set up by private equity heavyweight Hillhouse Capital to invest in emerging startups in February 2020. GL Ventures focuses on four areas: biomedicine and medical devices, software services and initiatives in tech innovations, consumer internet and technology, and emerging consumer brands and services.

Founded in 2010, YF Capital is a leading private equity firm in China. YF Capital currently manages multiple USD and RMB funds. The company has formed deep sector expertise and industry insights in our focused sectors, including internet, technology, healthcare, entertainment, consumer, finance and logistics.