Huaota Biopharma Completes RMB 200 Million Financing at a Post-Money Valuation of RMB 3.2 Billion, Files IPO Prospectus

▎Armstrong

December 2024MonthOn the 25th, Huahai Pharmaceutical announced that its subsidiary, Huaota, had completed a 200 million yuan financing round, exclusively invested by Haizheng Ventures.

Huaota's pre-financing valuation was 3 billion yuan, with a financing of 200 million yuan, and a post-financing valuation of 3.2 billion yuan.

After this round of financing, Haijing Venture Capital holds 6.25%, while Huahai Pharmaceutical and Huahai Investment hold 93.75%.

Huaota Biopharmaceuticals, established in 2013 as a subsidiary of Huahai Pharmaceutical focusing on large molecule drugs, has built a rich R&D pipeline covering various drug formats including monoclonal antibodies, bispecific antibodies, fusion proteins, and ADCs.

Summary

The repurchase clause reveals Huaota Biopharma's operational goals for the next 3-5 years, including obtaining approval for one product to be launched within 3 years, initiating pivotal Phase III clinical trials for one product, advancing one product into Phase II/III clinical trials, securing approval for two products to be marketed within 5 years, progressing two products into Phase II/III clinical trials, as well as achieving an IPO within the agreed timeframe.