Hangzhou Haoyang Biopharmaceutical Completes Over RMB 80 Million Series A Financing to Expand Integrated Antibody and Recombinant Protein Drug Development Platform

VCBeat (WeChat ID: vcbeat) has learned that Healsun Biopharm, a one-stop antibody and recombinant protein drug development service platform covering everything from DNA to clinical sample production, has announced the completion of its Series A financing round, raising over RMB 80 million.Co-led by Yipu Capital and Haibang Investment, with participation from Ginkgo Valley Capital and Huarui Investment; Chana Capital served as the exclusive financial advisor., the proceeds from this round of financing will be primarily used to construct four new 500L production lines, thereby enhancing the company’s capacity for clinical sample manufacturing and strengthening its comprehensive CDMO capabilities.

Previously, the company completed a RMB 50 million strategic financing round in 2018, with participation from industrial capital.

Hangzhou Healsun Biopharm, established in 2015, is a technology service company specializing in the development of antibody- and recombinant protein-based therapeutics. It provides technical services including druggability assessment of antibody drugs, transient protein expression, CMC development for antibodies and recombinant proteins, and development of antibody-drug conjugates (ADCs). Currently, Hangzhou Healsun Biopharm maintains nearly 10,000 square meters of R&D, manufacturing, and office space across its headquarters in Hangzhou and its branch in Shanghai.

Key Equipment of Healsun Biopharm

Regarding securing this round of financing,Li Haoqiang, Chairman of Healsun BiopharmHe responded, “Like customers, investors’ recognition of CDMO companies primarily hinges on their trust in the companies’ operational capabilities. The key competitive advantage of Healsun Biopharm lies in its high delivery capability for customer services. This entails not only completing all committed tasks on schedule but also executing projects with high efficiency and quality. During due diligence, investors found that Healsun Biopharm enjoys a widespread reputation in the industry.”

Li Haoqiang emphasized that the development of Hangzhou Healsun Biopharm Co., Ltd. is more focused on long-term vision. The company prioritizes cultivating internal team capabilities, developing cutting-edge technologies, and continuously enhancing its customer service capacity, aiming to become a solid and sustainable enterprise built for the long haul.

On March 24, 2021, a major announcement sent shockwaves through the pharmaceutical CDMO community: Lepu Medical’s recombinant GLP-1 receptor agonist injection project received implicit approval for clinical trials from the National Medical Products Administration (NMPA), permitting the product to proceed with clinical development under the biosimilar pathway. Why did this event generate such significant discussion within the CDMO sector? The reason lies in the fact that the recombinant GLP-1 receptor agonist injection was developed entirely by the pharmaceutical CDMO Hangzhou Healsun Biopharm Co., Ltd. Moreover, this project marks the first dulaglutide biosimilar in China to obtain clinical trial approval.

Healsun Biopharm provides clients with one-stop drug development services, from DNA to IND.Top clones are delivered within 10–12 weeks, toxicology batch samples are delivered in approximately 8 months, and IND filing preparations are completed within 12–15 months.The approval of this client project by the NMPA fully demonstrates the technical expertise and project management capabilities of Healsun Biopharm’s CMC team. The recombinant GLP-1 receptor agonist injection is a biosimilar to dulaglutide. The production of biosimilars requires achieving a high degree of similarity to the reference product, which presents significant challenges and complexities in process development and quality characterization. Leveraging its exceptional capabilities in cell line construction, upstream and downstream process development, and analytical characterization, the company successfully completed all pharmaceutical research studies required for the IND application.

Notably, cell line development is a core strength of Healsun Biopharm. The company can efficiently produce high-expression stable cell lines that meet the submission requirements of the NMPA and FDA. The entire development process utilizes chemically defined basal media and feeds, completing all steps from transfection to fed-batch evaluation of top clones within 10–12 weeks. Stability of the established cell banks is demonstrated through 60 population doubling level (PDL) studies, with expression variability maintained within ±30%. The top clones are cultured using conventional fed-batch processes,The typical expression level after 14 days is 5–10 g/L, which can exceed 15 g/L after optimization.

“A cell line is like a seed, serving as the source for recombinant protein drugs; the quality of the seed directly impacts the progress of the final project,” described Li Haoqiang. As a core competency of Hangzhou Healsun Biopharm Co., Ltd., the development of high-expression stable cell lines has garnered significant industry recognition, placing the company at a leading level both domestically and internationally. In 2020 alone, the company secured over 20 collaborations in this area, delivering high-quality cell lines to clients with rapid turnaround times.

In addition to developing high-expression stable cell lines, Hangzhou Healsun Biopharm Co., Ltd. (Healsun) specializes in druggability assessment and is among the first CDMOs in China to offer such services. This area of expertise is a particular strength of Healsun’s CEO, Dai Mingshu, who emphasizes that druggability assessment is becoming increasingly critical in drug development, as it effectively mitigates risks during the later stages of Chemistry, Manufacturing, and Controls (CMC) and enhances the efficiency of new drug development.

Healsun Biopharm is a dynamic team. Li Haoqiang stated that his team consists of young professionals with strong drive, who are eager to embrace various challenges and willing to engage in direct competition with rivals. In the CDMO sector, a company must first master its core competencies to ensure sustainable development. Adhering to its corporate spirit of “Listen, Cultivate, Innovate, and Win-Win,” Healsun Biopharm is committed to advancing the biopharmaceutical field through new drug R&D and achieving mutual growth with its clients.

For the investment in Healsun Biopharm, the joint lead investors this timeCai Zhiyang, Partner at Wing Pu Capitalstated: “We are highly optimistic about the future development of China’s biopharmaceutical innovation sector. As a critical component of biologic drug R&D, the CDMO industry holds substantial growth potential. Compared with its competitors, Hangzhou Healsun Biopharm Co., Ltd. boasts a young and dynamic team whose core members possess extensive industry experience and profound technical expertise. The company has a deep understanding of industry operations, remains strictly customer-centric, anticipates client needs, and strives for optimal product and service quality, thereby earning strong customer reputation and sustained order flow. With a prudent operational style, the company has achieved consistent and stable performance growth since its establishment, alongside continuous team expansion. Prioritizing technological innovation, Healsun closely follows the directions and trends in biologic drug R&D, proactively positions itself for future developments, and continually enhances its technical capabilities while expanding its service scope. We believe that Hangzhou Healsun Biopharm is well-positioned to steadily develop into a leading enterprise in China’s biopharmaceutical CDMO industry.”

Huang Li, Partner at Haibang Investment, Co-Lead InvestorIt also acknowledged: “China’s large-molecule drug sector started relatively late, and there are currently few products that have entered Phase III clinical trials or reached the market. It is expected that China will follow international trends, with large-molecule drugs becoming the mainstream in sales in the future. Companies that can secure early-stage clients at this stage will generate significant revenue from CMC services and early clinical sample production prior to IND submission. WuXi Biologics currently has a substantial portfolio of CMC and early-clinical-stage production projects and is expanding its global footprint in commercial manufacturing.”

“Hangzhou Healsun Biopharm Co., Ltd. has established a strong reputation within the industry and among its clients for its services and technical capabilities, enabling it to secure early-stage customer business and expand into downstream operations. The company’s founders possess extensive experience in the field, providing distinct technical advantages across the entire business value chain.”

Yipu Capital, established in 2016, is a private equity fund management platform wholly owned by Suzhou Private Capital Investment Holding Co., Ltd. The core management team of Yipu Capital has nearly two decades of practical experience in private equity investment, specializing in financing and investment for technology enterprises and leveraging capital to foster industrial symbiosis. The firm has accumulated extensive investment experience and a track record of successful cases in strategic emerging industries such as biopharmaceuticals and next-generation information technology. Adhering to innovative investment management principles, Yipu Capital focuses on and strategically positions itself in industries that align with China’s long-term sustainable economic development, economic structural transformation and adjustment, and national policy support. Its primary investment areas include biopharmaceuticals, next-generation information technology, and branded consumer goods.

Haibang Fenghua was initiated and established by Zhejiang Haibang Investment, a renowned equity investment institution in Zhejiang Province, along with its entire investment management team. The company primarily focuses on early- to mid-stage equity investments in sectors such as life and health, the digital economy, and new materials. We adhere to the investment philosophy of “Technology + Talent,” firmly believing that technology changes the world, and are committed to supporting entrepreneurs with grand visions and an entrepreneurial spirit.

Ginkgo Valley Capital is a large-scale investment platform jointly established by Huali Group, Huari Industrial, Jinggong Group, Wanfeng Auto Holding, and Silan Holdings. For nearly two decades, it has consistently focused on first-round investment opportunities in new products, technologies, services, and market demands, achieving numerous successful cases in fields such as big data, artificial intelligence, and biopharmaceuticals. As the chair unit of the Zhejiang Provincial Angel Investment Professional Committee, Ginkgo Valley Capital was ranked among the Top 10 Best Early-Stage Investment Institutions in China and named the Best Early-Stage Investment Institution for Returns in China in 2019.

Zhejiang Huarui Holding Co., Ltd. was founded in 2002 and is one of the earliest private institutions in China to raise and manage private equity funds. It was among the first to propose and implement the “Investment + Services” philosophy, consistently adhering to strategies focused on industrial investment and supply chain layout. As an investment management firm, it pursues distinctiveness, professionalism, stability, and reliability. Under Huarui Investment, there are more than 60 funds with over RMB 10 billion in assets under management. The company has cumulatively invested in more than 200 projects, with an IPO success rate exceeding 20%, making it one of the domestic investment institutions with a high number of invested projects and a strong track record of successful listings.