TaiChu Bio Completes Nearly RMB 400 Million Series A Financing to Accelerate Customized CRO+CDMO Platform for Innovative Drug Development

VCBeat has learned at the earliest opportunity,Shanghai Taichu Biotechnology Co., Ltd. (hereinafter referred to as “Taichu Biotech”) has completed its Series A financing, with a total amount of nearly RMB 400 million.This round of financing was led by IDG Capital, with participation from renowned investment institutions including Shanghai Science and Technology Innovation Fund, Juntong Capital, Shanghai Bio-medicine Industry Equity Investment Fund, Boquan Capital, Zhongxin Capital, Aopeng Investment, Xingze Capital, Yijing Capital, Lula Capital, Xinhang Capital, and Shijie Ventures. This marks another oversubscribed financing round for Shanghai Taichu Biotechnology Co., Ltd., following its angel and Pre-A rounds totaling nearly RMB 300 million, which were backed by Taifu Capital and the Lingang Life Blue Bay Fund.

Shanghai Taichu Biotechnology Co., Ltd. is a leading enterprise spanning from non-clinical studies of new drugs to CDMO manufacturing, providing tailored CRO+CDMO technical services through single or integrated business modules for the R&D and production of various new drugs. The company is located in the Lingang New Area of Shanghai,Taichu Biotechnology has four subsidiaries: Taijin Biotechnology, Taili Biotechnology, Taizhen Biotechnology, and Taiji Biotechnology. Each focuses on distinct professional fields, providing services such as non-clinical druggability evaluation (CRO), antibody drug discovery (CRO), antibody drug process development and manufacturing (CDMO), development and manufacturing of high-end formulation delivery systems (CDMO), and oligonucleotide process development and manufacturing (CDMO).Shanghai Taichu Biotechnology Co., Ltd. and its subsidiaries are each led by renowned experts from China and abroad, and boast a robust scientific and technical team comprising dozens of senior experts, providing comprehensive technical support for non-clinical studies in the research, development, and manufacturing of various new drugs.

Dr. Ma Jing, Chairman of Taichu BiotechnologyStatement: We extend our sincere gratitude to all investment institutions for their high recognition and trust in Taichu Biotechnology. With the completion of the new round of financing, Taichu Biotechnology will establish a specialized, customized non-clinical research service platform for new drugs, covering the entire spectrum from drug discovery to CDMO for various drug candidates (particularly biotech drugs and frontier therapies). Upholding the philosophy of "Cherishing Virtue, Pursuing Truth, and Empowering Customers," we are committed to building a leading domestic and world-class high-end technical service enterprise, thereby driving the leapfrog development of China's biopharmaceutical industry.

Representative of the investment institution, IDG Capital, the lead investor in this roundIDG Capital has expressed its long-term trust and strong confidence in the Taichu team led by Dr. Ma Jing, recognizing their industry vision, insights, strong sense of responsibility, and efficient execution capabilities in the field of innovative drugs. Within a remarkably short period, Taichu Biotechnology and its subsidiaries have established a specialized, customized service platform covering non-clinical studies for leading new drugs through to CDMO production. The company has delivered high-quality services to numerous premium clients, earning widespread acclaim from new drug R&D teams. We believe that Taichu Biotechnology will emerge as a leading enterprise in China’s innovative drug CRO+CDMO sector, rooted in China while serving global markets, thereby contributing to the overall development of the innovative drug industry. IDG Capital will continue to support Taichu Biotechnology’s growth, facilitating new drug research and development for outstanding pharmaceutical companies.

Shanghai Taichu Biotechnology Co., Ltd. is located in Life Blue Bay, Lingang New Area, Shanghai, China. It has built 34,400 square meters of service facilities and possesses a CRO+CDMO technology platform covering the entire biopharmaceutical industry chain, providing customized single and combined services for various new drug developments. The company boasts a team of top experts and technical professionals in various fields within the industry, offering customized comprehensive technical services to new drug R&D enterprises, improving the success rate of research and development, and helping companies develop more beneficial drugs for patients.

IDG Capital is a globally leading private equity investment firm that pioneered venture capital operations in China starting in 1993. After nearly three decades of development, the firm’s business now spans Europe, the United States, and the Asia-Pacific region, with total assets under management approaching RMB 200 billion. To date, IDG Capital has invested in over 1,400 outstanding companies worldwide, focusing on industry leaders in sectors such as Technology, Media, and Telecom (TMT), advanced manufacturing and clean energy, healthcare, new consumption and services, and culture and entertainment. Its investment scope covers all stages, including start-up, growth, mature phases, as well as mergers, acquisitions, and restructurings, with deal sizes ranging from millions to hundreds of millions of US dollars.

Shanghai Science and Technology Innovation Fund (Shanghai STI Fund) is a market-oriented fund of funds initiated and established by Shanghai International Group, in accordance with the deployment requirements of the Shanghai Municipal Committee of the Communist Party of China and the Shanghai Municipal People’s Government. Its major investors include Guosheng Group, Shanghai International Port Group, Guotai Junan Securities, Shanghai Trust, Zhangjiang Hi-Tech Park, China Pacific Insurance Group, and Jiading State-owned Assets Group. With the mission of supporting the development of Shanghai as a global science and technology innovation hub, the fund has a target size of RMB 30 billion and currently manages assets exceeding RMB 12 billion. To date, Shanghai STI Fund has invested in more than 60 sub-funds, with a total committed capital of over RMB 180 billion, covering an investment portfolio of more than 1,800 companies. Among these portfolio companies, 74 have gone public, including 43 listed on the STAR Market.

Shanghai Juntong Equity Investment Management Co., Ltd. was established in May 2015 as one of the earliest private equity investment management firms in China to focus on the pan-semiconductor sector, and has since expanded into the healthcare field. As of the end of 2022, the cumulative size of funds under its direct management exceeded RMB 7.2 billion, with investments in 78 portfolio companies. Among these, 13 companies have achieved initial public offerings (IPOs) on China’s A-share market, one has passed the regulatory review, and 17 are in the IPO application process. The firm has been repeatedly recognized among the Top 50 and Top 100 Best Private Equity Firms by China Venture.

Shanghai Bio-Medicine Fund is a municipal-level industrial fund approved by the Shanghai Municipal People's Government, with a total target management scale of RMB 50 billion. Initiated and established by Shanghai Industrial (Group) Corporation, the fund will leverage Shanghai’s comprehensive advantages in developing the bio-medicine sector and rely on industrial resources to build an innovative investment platform for the bio-medicine field that is “based in Shanghai and Hong Kong, linked with the Yangtze River Delta, and oriented toward the global market.”

Boquan Capital adheres to the philosophy of long-term value investing, focusing on investments in the healthcare and wellness sector. It is committed to identifying and supporting high-potential early-stage and growth-stage enterprises, leveraging its accumulated resources to empower these companies and grow alongside them. Its investment scope covers biopharmaceuticals, medical devices, healthcare services, and diagnostics.

Zhongxin Capital, established in November 2015, is a rapidly growing professional private equity investment firm. Since its inception, Zhongxin Capital has leveraged regional industrial advantages to deepen its market presence, consistently focusing on investment opportunities in three core sectors: healthcare, frontier technologies (including semiconductors, artificial intelligence, new energy, the Internet of Things, and cloud computing), and advanced manufacturing. The firm continuously empowers regional industries and innovative enterprises. To date, the team’s cumulative assets under management have exceeded RMB 2 billion.

Hangzhou Aopeng Investment Management Co., Ltd., established in 2015, boasts a core team with backgrounds in finance and industrial due diligence. Committed to “deepening expertise in industrial niches and supporting technological advancement for national prosperity,” the firm focuses on investing in key technologies and core raw materials in advanced manufacturing, healthcare, and new energy—sectors critical to addressing China’s “chokepoint” challenges. It has built an investment portfolio of nearly 30 companies in the healthcare and high-tech sectors, with total assets under management approaching RMB 1 billion.

Xingze Capital was established in 2015. Its name, “Xingze,” embodies the motto “Skilled Hands of the Apricot Grove, Benefiting the World.” Leveraging the power of capital, Xingze Capital partners with visionary entrepreneurs to address significant unmet clinical needs. The firm’s investment team comprises more than 20 professionals with extensive experience in healthcare investment, academia, and industry. Its investment focus spans innovative biopharmaceuticals, medical devices (including life science instruments), and the innovative services value chain. Currently, Xingze Capital’s portfolio includes over 70 companies, with total assets under management nearing RMB 6.5 billion.

Yijing Capital was established in 2015 and is headquartered in Shanghai. It is a professional investment firm focused on global healthcare, frontier technologies, and new consumption sectors, while also managing funds of funds (FoFs) in these areas. Adhering to the philosophy of “helping enterprises innovate and grow, promoting industrial optimization and upgrading, and driving social progress,” the firm has grown to manage assets totaling RMB 8 billion.

Lula Capital, founded in 2016 and headquartered in Hangzhou, currently manages a total asset base exceeding RMB 1.3 billion. Lula Capital focuses on venture capital investments in the pharmaceutical and healthcare sectors, with particular emphasis on biopharmaceuticals, cell therapy, immunotherapy, medical services, healthcare informatics, digital therapeutics, and innovative medical devices. The firm boasts an excellent investment management team and advisory board, possessing profound insights into the healthcare industry. Adhering to the philosophy of resource sharing, the team maintains close ties with the management teams of its portfolio companies and industry experts, facilitating the sharing of industry and sector-specific resources.

Xinhang Capital focuses on the intersection of AI and biotechnology, dedicated to driving frontier exploration and breakthrough innovations in life sciences. It specializes in identifying and providing long-term support to innovative enterprises in the biotech sector. Xinhang concentrates on areas such as biologics, novel therapies, gene editing, bio-computing platforms, brain-computer interfaces, and biochips. It has established an investment network spanning China and the United States, covering premier laboratory projects and top-tier teams from leading universities including MIT, Stanford, Carnegie Mellon University, Tsinghua University, Peking University, and the University of Science and Technology of China, with a strong emphasis on attracting outstanding overseas talent to return to China for entrepreneurship.

Shijie Ventures is a venture capital fund focused on innovative companies in the life and health sector, dedicated to discovering and nurturing revolutionary and disruptive technologies. The fund’s investors include publicly listed companies, local government guidance funds, market-oriented fund-of-funds, and high-net-worth individuals. By collaborating closely with industry partners, the fund connects its portfolio companies with strategic resources to accelerate their growth and promote the industrialization of their technologies.