Binhui Biotech Picks Up ￥600M in New Funding

(VCBeat) Feb. 11, 2021 -- Wuhan Binhui Biotech ("Binhui Biotech") recently announced a new funding round of 600 million yuan led by Share Capital and co-led by CICC's fund, Vertex Ventures, and Qianhai Fund of Funds. The existing investor Beijing Lapam Capital and new investors including Infinity, Zhang Jiang Haoheng, Hyfinity Investments, Huafang Capital, Chongqing Qihou, Hongqiao Investment and other well-known investment institutions also participated.

 The funds are earmarked for promoting the phase Ⅱ and Ⅲ clinical trials of Binhui Biotech's core product -- OH2, an oncolytic type 2 herpes simplex virus, and developing other products and platforms.

Founded in 2010 by Dr. Binlei Liu and listed on the New OTC Market in December 2015, Binhui Biotech is a high-tech enterprise engaged in the development and production of viral gene vectors. Since its establishment, the company has devoted itself to providing innovative products and services in the field of cancer gene and immunotherapy with several patents filed in China and other developed countries.

Over the years, Binhui Biotech focuses on researches on oncolytic viruses. Its main product OH2 takes the lead in the market and has entered the phase Ⅱ clinical trial. Binhui Biotech then conducted the clinical research of OH2 with combination of multiple monoclonal antibodies.

Binhui Biotech's R&D building covers a total area of more than 3200 square meters, of which about 1000 square meters have been used to build four GMP-compliant independent production lines. The company has high content cell imaging system, bioreactor, animal laboratory, small animal imaging system, AKTA chromatography/purification system, flow cytometry, real-time quantitative PCR, injection water production equipment, liquid vial filling line, etc. to meet the clinical trial drug production and virus vector development.

Share Investment, founded in Shenzhen in 2007, is the earliest venture capital firm with limited partnership in China. It has invested in more than 200 companies with an AUM of more than RMB 8 billion. Since 2010, Share Capital has started to invest in the medical industry. With precision medicine as the mainline, Share Capital focuses on the four fields: biotechnology, new drug R&D, new medical services, and cutting-edge medical devices. Currently, the company manages four medical funds.

Vertex Ventures is a global network of venture capital funds. The operator-investors manage portfolios in China, the U.S., Israel, India and Southeast Asia.

Vertex Ventures China, founded in 2008, has offices in Beijing, Shanghai and Shenzhen. It is currently managing both Dollar and RMB funds, with assets under management of over ¥10 billion. Vertex Ventures China invests in high-growth innovative start-ups across mainland China, covering the fields of deep tech, new digital economy and healthcare.