Phage Biomanufacturing Firm Grinn Biotech Secures Tens of Millions in Pre-A+ Financing, WinX Capital as Exclusive Financial Advisor

VCBeat has learned that recently,Wuhan Grain Biotechnology Co., Ltd. (hereinafter referred to as "Grain Bio") announced the completion of its Pre-A+ financing round, raising tens of millions of yuan. The round was led by Optics Valley Industrial Investment, with participation from Shallow Stone Venture Capital and existing shareholder Chende Capital. WinX Capital served as the exclusive long-term financial advisor.This round of financing is primarily intended to deepen the technological layout for multi-scenario applications of bacteriophages, and to accelerate product innovation, pipeline advancement, regulatory filings, and market promotion.

In December 2024, Grainong Biotech announced the completion of its Pre-A financing round, raising tens of millions of yuan. The round was exclusively invested by Shenzhen Guarantee Venture Capital, with WinX Capital serving as the exclusive long-term financial advisor.

In January 2024, Grainon Biology successively completed its angel and angel+ financing rounds, raising a total of nearly RMB 100 million. The angel series financing rounds were led by Zhengxuan Investment and CDH VGC Investment (Innovation and Growth Fund), with Chende Capital participating as a co-investor. WinX Capital served as the long-term exclusive financial advisor.

Grainon Biotech was established in July 2019 and is a high-tech enterprise focused on the research, development, and industrialization of bacteriophage preparations.

As a globally leading phage bio-manufacturing platform, it has deeply empowered four major sectors—smart animal husbandry, ecological planting, green food, and biomedicine—through its full-industry-chain layout encompassing “R&D, production, and application.” It has successfully established an internationally leading phage library and host bacterial library, providing critical scientific research support and resource platforms for the industry.

Greenon Biologics has extensive business coverage across animal health (livestock, poultry, and aquaculture), plant protection, food safety, and consumer healthcare. The company has successfully built a diverse product portfolio: in the animal health sector, it has developed multiple bacteriophage solutions targeting Escherichia coli, Salmonella, Clostridium perfringens, Riemerella anatipestifer, Pasteurella, Bordetella, and Vibrio species, significantly reducing the risk of bacterial diseases in livestock and poultry; in the plant protection sector, it has launched rapid-acting biological control products for key crop diseases such as bacterial wilt and canker, driving the technological upgrade of green agriculture.

Greenong Animal Health Products

Greenon Plant Protection Products

From May 19 to 21, the 22nd China Animal Husbandry Expo and the 2025 China International Animal Husbandry Expo were grandly held in Qingdao. Greenfarm Biotech made a stunning appearance at the expo, showcasing its bacteriophage products targeting poultry, waterfowl, aquaculture, and plants. Both the booth design and product displays attracted numerous domestic and international attendees and guests to stop and visit. Greenfarm’s technical experts patiently answered detailed questions from industry specialists and clients regarding bacteriophage formulations, dosage recommendations, product efficacy, technical principles, and practical case studies, thereby building a robust defense for poultry health and supporting the animal husbandry industry in achieving green and efficient production.

In the future, Grainon Biotech will harness technological innovation as its driving force, continuing to deepen the research, development, and application of phage technology. By delivering higher-quality products and more efficient services, we aim to inject sustained momentum into the booming general health industry and work collaboratively to advance industry progress.

Lin Feng, Chairman of Optics Valley Industrial Investment, stated:Amid the increasingly severe global crisis of antibiotic misuse and the continuous advancement of policies aimed at reducing and replacing antibiotics, phage therapy is emerging as a strategic new frontier in biomedicine and agricultural aquaculture. Leveraging unique advantages such as high specificity, environmental friendliness, and a low propensity for inducing resistance, this therapeutic approach is gaining significant traction. Greennong, a standout project resulting from the commercialization of scientific and technological achievements at Huazhong Agricultural University, stands as a cutting-edge biotechnology enterprise nurtured in Optics Valley. The company has established robust technical barriers across key links in the entire industrial chain, including phage database construction, high-efficiency screening, and scalable production processes. Both its laboratory research and customer field trial data have demonstrated exceptional lysis efficiency. We look forward to Greennong achieving further technological breakthroughs in diverse application scenarios, leading China’s phage application industry to the international forefront.

Shallow Stone Venture Capital stated:Innovation in agricultural biotechnology is shifting from isolated breakthroughs to systemic restructuring, with stringent regulatory policies and consumer demand for “antibiotic-free” products converging at a historical juncture. We value Grainow’s unique technology platform for its ability to reshape the traditional agri-food industry chain by reducing systemic risks through biological alternatives to antibiotics. The company boasts a professional and highly entrepreneurial management team, and has validated the underlying versatility of its technology platform across three major scenarios: animal health, crop protection, and environmental governance. This cross-domain transferability will unlock a market space ten times larger. Shallow Stone Venture Capital will collaborate with industrial capital to help the company further build a closed loop of “R&D, production, and sales,” facilitating its transition from a product supplier to an industry standard-setter.

WinX Capital stated:WinX Capital is honored to continue supporting Greenong Biotech in completing its new round of financing. We sincerely appreciate the trust placed in WinX Capital by both the company and its investors. As a leading enterprise in the commercialization of phage technology in China, Greenong Biotech focuses on meeting the demand for antibiotic alternatives in the fields of animal health and plant protection, establishing a comprehensive competitive barrier that spans from phage library development and high-efficiency lysis technology to industrial-scale application. We look forward to Greenong Biotech further expanding its competitive advantages and contributing to the global human health industry.

Wuhan Optics Valley Industrial Investment Co., Ltd. was established in 2016 as a wholly-owned subsidiary of Hubei Provincial Science and Technology Investment Group Co., Ltd., the largest state-owned investment and financing platform in the Wuhan East Lake National Independent Innovation Demonstration Zone. Dedicated to fostering industrial innovation, development, and transformation within China’s Optics Valley, the company has initially formed a “one body, two wings” development model, with major industrial investments as the core, supported by industrial funds and industrial technology research as its financial and technological pillars. By the end of 2024, Optics Valley Industrial Investment had participated in the investment and management of 96 direct investment projects and funds, with managed equity assets exceeding RMB 40 billion.

Shallow Stone Venture Capital, established in 2015, is a representative boutique early-stage venture capital fund brand in China. The fund’s management team possesses extensive experience across the full investment lifecycle, including fundraising, investing, portfolio management, and exits. The fund’s current limited partners include blue-chip investors such as central and local government guidance funds, leading domestic industry enterprises, and renowned entrepreneurs. The team has previously focused on investments in sectors including industrial internet, green technology, healthcare, and consumer & entertainment, backing numerous industry benchmark companies listed on major capital markets—such as Edan Instruments (300206.SZ), Kinvo Pharma (603707.SH), Career International (300662.SZ), Peijia Medical (09996.HK), iKang Healthcare Group (NASD: KANG, now privatized), Make Friends Holdings (01450.HK), Bona Film Group (001330.SZ), and Guomai Culture (301052.SZ)—as well as many leading enterprises in niche sectors.

Chende Capital is an investment firm focused on the niche sectors of innovative medical technologies and cutting-edge biotechnologies. Managed and operated by a professional team with extensive backgrounds in the healthcare industry, it oversees multiple RMB and USD funds.

Chende Capital adheres to the investment philosophy of “focus, excellence, and reputation.” Leveraging its deep industrial resources in the healthcare sector and years of in-depth research and cultivation, it promptly identifies the latest international technological trends and seizes investment opportunities driven by technological innovation. Committed to discovering top-tier enterprises with industry leadership potential, Chende Capital collaborates with entrepreneurs to build an industrial ecosystem and achieve mutual growth through its interconnected, win-win investment methodology and a precise, pragmatic post-investment empowerment system, thereby delivering sustainable, superior returns to investors.

WinX Capital is a leading investment bank in China’s healthcare and wellness industry, headquartered in Beijing and Shanghai, with offices in Shenzhen and Hangzhou. It has received numerous accolades, including Qimingpian’s “No. 1 Financial Advisor in Healthcare and Medical Services for 2024,” First New Voice’s “No. 1 Financial Advisory Firm in Healthcare and Medical Services for 2022–2024,” and VCBeat’s “Annual Healthcare and Medical Services Financial Advisor” as part of the “Future Healthcare 100” list for 2022–2024.