Sepax Technologies Secures Over RMB 500 Million in Series D Funding Led by CPE GenPeak and Hillhouse Capital

VCBeat has learned that recently,SuZhou Sepax Technologies Co., Ltd.(hereinafter referred to as “Sepax Technologies”) announced the completion ofOver RMB 500 million in Series D financing.

This Round of Financing Attracts Heavyweight Strategic InvestorsCPE Yuanfeng, GL Ventures, Sinopharm Capital, and Sherpa Healthcare Partners, as well as Sinovac Biotech and Gan & Lee Pharmaceuticals...and other industrial investors. Following this round of financing, SuZhou Sepax Technologies Co., Ltd. will continue to solidify its leadership position in the field of biomacromolecule chromatographic separation technology, deepen its international integrated layout from technology to market, and accelerate the enhancement of R&D, production, and operational capabilities across various business segments, including analytical chromatography and industrial purification.

As a company with nearly 20 years of expertise in chromatography technology, Sepax Technologies boasts a fully independent and innovative technical platform. Its product portfolio covers affinity, ion exchange, hydrophobic interaction, size exclusion, and reversed-phase chromatography columns and media, which are widely used for the analysis and purification of biological samples such as antibodies, antibody-drug conjugates (ADCs), various proteins, insulin, and vaccines. Continuously launching innovative products for cutting-edge fields like COVID-19 vaccines and mRNA nucleic acid therapeutics, Sepax Technologies is committed to providing biopharmaceutical companies with comprehensive analytical chromatography and industrial purification solutions throughout the entire lifecycle—from R&D and preclinical stages to clinical Phases I, II, and III, commercial manufacturing, and quality control.

Sepax Technologies, Inc. was founded in 2002 in the High-Tech Development Zone of Delaware, USA. The company is dedicated to the research, development, and industrialization of chromatography technologies for biopharmaceutical separation and purification. Its technical expertise and product portfolio have been widely recognized by multinational pharmaceutical companies and leading players in the chromatography industry.

In 2009, SuZhou Sepax Technologies Co., Ltd. was established with its headquarters in Suzhou Industrial Park, introducing cutting-edge products recognized by the international market to China. Focusing on R&D and operations in the Chinese market, the company is dedicated to building a leading Chinese national brand in the field of chromatography technology.

To meet the rapidly growing downstream purification demands of the biopharmaceutical industry, Sepax Technologies has continuously developed and launched new chromatography media products. In 2017, Yangzhou Sepax Technologies Co., Ltd. was established, focusing on the large-scale production of chromatography media. By the end of 2020, the Yangzhou production base officially commenced operations, with Phase I completing four production lines and achieving an annual capacity of 100,000 liters. Currently, Phase II is underway, targeting an annual capacity of 150,000 liters, while Phase III is already in the planning stages. Leveraging its world-class chromatography technology platform and leading domestic production facilities, Sepax Technologies is committed to creating value for China’s biopharmaceutical industry, striving to become a modern, standardized, and large-scale high-end manufacturer with global competitiveness.

Sepax Technologies is a national-level talent program enterprise and a high-tech enterprise in Jiangsu Province. It holds an extensive intellectual property portfolio, including more than 35 granted patents in the United States and China, 20 registered trademarks, as well as substantial technical know-how and trade secrets. Its quality management system has obtained ISO 9001 certification at its three locations in the United States, Suzhou (China), and Yangzhou (China). Over 1,000 articles and publications featuring Sepax Technologies’ products have been published internationally.

Dr. Huang Xueying, Chairman of Sepax Technologies, stated:

China’s biopharmaceutical industry is rapidly advancing toward large-scale production, product diversification, and internationalization. In the near future, it is poised to reach world-class standards and become one of China’s pillar industries. As a key core material for the industrialization of biopharmaceuticals, the localization of chromatography resins is an inevitable path for the rise of China’s biopharmaceutical sector. Sepax Technologies will continue to deepen its advantages in cutting-edge technology platforms in both China and the United States, playing a more significant role in ensuring supply chain security, controlling costs, and providing technical support for separation and purification processes, thereby creating value for Chinese biopharmaceutical companies.

CPE Yuanfeng Executive General Manager Cao Xia stated:

China’s biopharmaceutical industry is facing a historic, leapfrog development opportunity. Chromatography media, as one of the key core raw materials and technological links in the biopharmaceutical industry chain, is trending toward large-scale, high-quality domestic production. CPE Yuanfeng has long focused on high-quality enterprises in the biopharmaceutical sector and its related supply chains. We believe that Sepax Technologies is not only a leader in chromatography technology within China but also one of the few Chinese companies capable of competing globally in the chromatography field. We hope to work alongside Sepax Technologies to tackle core technical challenges in separation and purification, drive continuous innovation, contribute to supply chain security and industrial transformation and upgrading in China’s biopharmaceutical industry, and truly achieve world-class standards.

GL Ventures stated:
As the heart of liquid chromatography, chromatography columns play a decisive role in the application of chromatographic instruments. Meanwhile, as one of the most critical consumables in the downstream production of biopharmaceuticals, purification resins are vital to both the quality and production efficiency of biologic drugs. As a globally leading expert in chromatographic separation and purification, Sepax Technologies has dedicated twenty years to the independent research and development of core chromatography column materials, mastering end-to-end core technologies in resin R&D and manufacturing. With product innovation consistently at the industry forefront, Sepax has provided products and services to a cumulative total of 5,000 customers worldwide and is poised to become a world-class Chinese national brand in the chromatographic separation and purification sector. GL Ventures will partner with Sepax for the long term, jointly driving progress in the global chromatographic separation and purification industry, delivering superior separation and purification solutions, and creating greater value.

Zhou Xuan, Executive Director of Sinopharm Capital, stated:
The biopharmaceutical sector is currently experiencing rapid development, driving increased demand for upstream production equipment and consumables. Influenced by various factors, domestic companies are progressively initiating the substitution of imported upstream equipment and consumables with domestically produced alternatives. As a rapidly growing high-tech enterprise with the most comprehensive liquid chromatography product portfolio globally, Suzhou Sepax Technologies Co., Ltd. possesses core proprietary technologies and provides all-encompassing chromatography technical solutions to customers worldwide. Its chromatography columns and chromatographic media products have gained recognition from numerous clients around the globe. Sinopharm Capital Management Limited Company is honored to participate in this round of financing and will leverage its industry resources to support the company’s future growth.

Mr. Deng Xuan, Managing Director at Sherpa, stated:
Core upstream raw materials for pharmaceuticals are the cornerstone supporting the robust development of China’s biopharmaceutical industry. Leveraging its independently developed foundational technology platforms, Suzhou Sepax Technologies Co., Ltd. provides a comprehensive suite of chromatography separation solutions to biopharmaceutical clients both domestically and internationally, with its product quality highly recognized. The Sepax Technologies team boasts world-class R&D capabilities, extensive experience in large-scale production, and professional, meticulous customer service. Sherpa is honored to be a shareholder of Sepax Technologies and will fully support its growth and expansion in the future, safeguarding the development of China’s biopharmaceutical industry.

CPE Yuanfeng is an asset management institution with a global perspective and extensive experience in China. It aims to leverage a long-term vision and value investment strategies to provide innovative investment solutions for leading enterprises in five key sectors: healthcare and wellness, consumer and internet, technology and industry, software and enterprise services, and real estate. Currently, funds under CPE Yuanfeng’s management have earned the trust and support of more than 200 institutional investors both domestically and internationally, with cumulative assets under management exceeding RMB 100 billion. Over the past decade, the company’s core team has invested in more than 200 companies, accumulating profound industry insights and an extensive resource network. Through a robust investment research framework and professional post-investment management capabilities, CPE Yuanfeng is committed to building long-term partnerships with its portfolio companies. It supports their sustainable development, delivers substantial returns to investors, promotes the overall advancement of the industries in which these companies operate, and creates positive social impact.

GL Ventures is Hillhouse’s venture capital platform dedicated to early-stage innovative companies, with a focus on key sectors including hard technology, software, biotechnology, new materials, emerging brands, and consumer technology. GL Ventures seeks out all founders who are passionate about technology and believe in innovation. We aim to be the first call for entrepreneurs seeking financing and look forward to accompanying them throughout their entrepreneurial journey.

Sinopharm Capital Management Limited Company was established in 2012 as an equity investment firm focused on the healthcare sector, jointly initiated by Sinopharm Group and its management team. Currently, the assets under management of its funds exceed RMB 6 billion. The management team is structured according to market-oriented mechanisms, making it one of the earliest investment institutions in China to specialize in healthcare and wellness investments. Leveraging the resources of Sinopharm Group, Sinopharm Capital adheres to an integrated strategy of business and capital to support enterprise development.

Sherpa is a specialized fund focused on healthcare and medical investments. Adhering to an investment philosophy centered on building industry ecosystems, it constructs its portfolio around rigid, unmet medical needs, leveraging deep expertise in the treatment of major diseases, and strategically positions itself across the industry’s vertical depth as well as its upstream and downstream sectors.

By actively sharing operational expertise and a forward-looking, whole-industry-chain perspective with portfolio companies, the team proactively fosters internal and external synergy, helping enterprises achieve rapid growth in both business performance and valuation, while securing leading positions in their respective niche markets. The firm has invested in industry-leading enterprises across key sectors such as healthcare services, pharmaceuticals, gene technology, and medical devices, thereby building comprehensive resource advantages spanning deal sourcing, post-investment value-added services, and exit strategies. From 2011 to 2021, through four fund vintages and the rigorous experience of managing over 100 healthcare projects, we have had the privilege of partnering with numerous outstanding entrepreneurs, growing together along the way.

Sinovac Biotech Ltd. (hereinafter referred to as “SINOVAC”) is committed to its mission of “providing vaccines to eliminate diseases for humanity,” dedicating itself to the research, development, production, and sales of human vaccines and related products, thereby serving disease prevention and control efforts in China and around the world.

The Company, through its wholly-owned subsidiary Sinovac Biotech (Hong Kong) Limited, holds interests in multiple enterprises, including Beijing Sinovac Biological Products Co., Ltd., Sinovac (Dalian) Vaccine Technology Co., Ltd., and Beijing Sinovac Life Sciences Co., Ltd. Its current product portfolio includes: the inactivated COVID-19 vaccine (CoronaVac); a Class I new drug for preventive biological products—the inactivated Enterovirus 71 vaccine (Yierlaifu); China’s first inactivated Hepatitis A vaccine to receive WHO prequalification (Heerlaifu); the trivalent split-virion influenza vaccine (Anfluvac) and the quadrivalent split-virion influenza vaccine; the Sabin-strain inactivated Poliovirus vaccine; the live attenuated Varicella vaccine; the live attenuated Mumps vaccine; the 23-valent Pneumococcal Polysaccharide Vaccine; and the combined Hepatitis A and B vaccine (Bierlaifu). Additionally, the Company has previously developed the world’s first inactivated SARS vaccine (completed Phase I clinical trials), China’s first pandemic influenza (H5N1) vaccine (Panflu.0), and the world’s first influenza A (H1N1) vaccine (Panflu.1).

Sinovac primarily sells its vaccines in the Chinese market, while continuously exploring opportunities in international markets. The company is registering and exporting vaccines in dozens of countries.

Gan & Lee Pharmaceuticals Co., Ltd. (stock abbreviation: Gan & Lee Pharmaceuticals; stock code: 603087.SH) was established in 1998. It is a high-tech biopharmaceutical enterprise integrating research and development, manufacturing, and sales, with over 3,000 employees worldwide. Headquartered in the South Zone of Beijing Tongzhou Economic Development Zone, which falls under the Zhongguancun National Independent Innovation Demonstration Zone, the company operates an industrial park spanning approximately 200,000 square meters.

As the first company in China to master industrialized production technology for recombinant insulin analogs, Gan & Lee Pharmaceuticals holds a leading position in China’s diabetes market for the research, development, and manufacturing of biosynthetic human insulin and its analogs. The company has established close collaborations with renowned enterprises such as Sandoz, a subsidiary of Novartis, and is actively expanding into overseas markets. As a global enterprise dedicated to human health, Gan & Lee Pharmaceuticals upholds a corporate culture grounded in science and excellence, committed to providing high-quality products and services to diabetic patients worldwide.