GenScript BioPower Secures RMB 625 Million Series A Funding to Accelerate Global GMP Biopharmaceutical Capacity Expansion
VCBeat (WeChat ID: vcbeat) has learned that Zhejiang Jian Xin Yuan Li Pharmaceuticals Co., Ltd. (“Jian Xin Yuan Li”), a biopharmaceutical company founded on innovation and partnership, announced today the completion of its RMB 625 million (approximately USD 96 million) Series A financing. This marks another milestone for Jian Xin Yuan Li following its RMB 170 million (approximately USD 24 million) Pre-A financing round completed in June 2020.
This Series A financing round was co-led by Zhongnan Ventures and Yanchuang Capital, with existing shareholders such as Quanchuang Capital continuing to provide support. China Renaissance served as the exclusive financial advisor for this transaction.
Zhejiang Jian Xin Yuan Li Pharmaceuticals Co., Ltd. warmly welcomes Mr. Cai Jiongming from Zhongnan Venture Capital and Ms. Liu Zeng from Yanchuang Capital to its Board of Directors.
Mr. Li Xuejun, Vice President of Zhongnan Venture Capital, stated, “We are honored to have the opportunity to invest in Jian Xin Yuan Li and its unique business model. We believe that their innovative biopharmaceutical development model will prove itself through results.”
Mr. Lin Tao, Managing Director of Yan Capital, stated, “I am pleased that this investment will accelerate the clinical development and commercialization of novel therapies, advance the construction of drug manufacturing infrastructure, and support existing collaborative projects. We have full confidence in the Jian Xin Yuan Li management team’s extensive experience in the development and manufacturing of biologics, and we believe they will deliver outstanding results.”
This round of funding will accelerate the construction of Jian Xin Yuan Li’s campus in Hangzhou, China, providing global GMP biopharmaceutical manufacturing capacity, including cell and gene therapy production capabilities and a monoclonal antibody production facility established through a joint venture with Thermo Fisher Scientific. The company’s business model is designed to advance the development and commercialization of innovative drugs for global clients and partners across China, the United States, Europe, and other regions worldwide. Jian Xin Yuan Li will continue to build a biopharmaceutical ecosystem, offering tailored drug development and operational management services to partners, as well as extensive support to startups.
Dr. Wu Hui, Managing Director at Quanchuang Capital, stated, “We have been deeply impressed by the extensive experience and execution capabilities of Jianxin Yuanli’s leadership team. We are excited to support the company’s strategic development and are pleased to see more high-quality investors expressing confidence in Jianxin Yuanli following Quanchuang Capital’s lead investment in its Pre-A financing round.”
Dr. Li Yuling, CEO of Jian Xin Yuan Li, further stated, “We look forward to expanding Jian Xin Yuan Li’s capacity to provide cell and gene therapy and monoclonal antibody production services for China and the global market, driving innovation in China and delivering benefits worldwide. Meanwhile, we will introduce various advanced biotechnology and innovative product development companies to the Jian Xin Yuan Li Park, supporting their establishment and growth to achieve win-win cooperation.”
The Phase I manufacturing facility at the Jianxin Yuanli Park in Hangzhou is scheduled for delivery by the end of 2021, with all GMP production operations to be implemented in phases throughout 2022 as planned. The process development laboratory and related facilities outside the park will become operational in May 2021. At its core, the park will leverage Jianxin Yuanli’s capabilities in process and analytical technology development, along with CDMO services for the GMP manufacturing of plasmid DNA, viral vectors, and cell and gene therapy products. Additionally, the park hosts Thermo Fisher Biopharmaceuticals (Hangzhou) Co., Ltd., a joint venture with Thermo Fisher Scientific, dedicated to the global production of antibody and protein therapeutics.
Zhejiang Jian Xin Yuan Li Pharmaceuticals Co., Ltd. is located in the Hangzhou Airport Economic Demonstration Zone and serves as a core enterprise of the Hangzhou Bay Biotechnology Valley. The core team, led by Chairman Dr. Yu Guoliang and CEO Dr. Li Yuling, brings extensive experience from Global 500 pharmaceutical companies in technological innovation, product development, business operations, and commercial development. Zhejiang Jian Xin Yuan Li is building global capabilities in product development and biopharmaceutical manufacturing to facilitate the development and commercialization of innovative drugs. Additionally, it provides partners with R&D and manufacturing capabilities, startup management expertise, product development guidance, and equity investments in select partners.
The company’s Phase I facility covers an area of 125 mu, with a total construction area of 180,000 square meters. It features manufacturing facilities and bioprocess development laboratories for monoclonal antibodies, recombinant proteins, plasmid DNA, viral vectors, and cell and gene therapies, all compliant with international GMP standards. The facility includes four 2,000-liter and three 500-liter monoclonal antibody production lines, as well as two aseptic filling lines. Additionally, it has built four 500-liter viral vector production lines, one 200-liter pilot-scale line, one aseptic filling line for viral vectors, and three 30-liter plasmid DNA production lines. Phase II will expand and adjust multiple production lines in response to market demand, including 2,000-liter (with scalability up to 5,000 liters) monoclonal antibody lines, 2,000-liter viral vector lines, and 300-liter plasmid DNA lines, thereby providing manufacturing capacity to support the global development of biopharmaceuticals.
Zhongnan Ventures was established in 2008 as a professional asset management firm specializing in venture capital investments in technology sectors such as biomedicine, semiconductors, and artificial intelligence. The mission of Zhongnan Ventures is: “Empowering technology with capital, and benefiting humanity through technology!” Investment cases in the healthcare sector by Zhongnan Ventures include numerous renowned innovative drug companies such as Biokin Therapeutics, Apollomics, Drug Farm, Chuanxiang Bio, Yili Pharmaceuticals, CARsgen Therapeutics, GenFleet Therapeutics, and RayzeBio.
Yanchuang Capital was founded in June 2010. Initiated by Peking University alumni and their affiliated enterprises engaged in venture capital and the commercialization of university technological achievements, with the advocacy and support of the Science and Technology Development Department of Peking University, it serves as an investment and capital operation platform focused on high-tech enterprises. Currently, Yanchuang Capital operates three core business segments: equity investment, securities investment, and cooperation with listed companies including mergers, acquisitions, and restructuring. Its assets under management have exceeded RMB 6 billion. Strategically focusing on the broader health sector, particularly biopharmaceuticals, Yanchuang Capital has invested in numerous renowned innovative drug companies, including Hotgen Biotech, Zai Lab (Note: Correction based on common knowledge, but sticking to source text phonetics if unsure, however Zejing is Jakemab), Jakemab Therapeutics, Yihong Pharmaceuticals, Tianjing Hangzhou, Apollomics, Aikobio, Laekna Therapeutics, and Biocytogen.*(Self-Correction during drafting for higher accuracy on specific company names based on standard English translations used in the industry):*Yanchuang Capital was established in June 2010 as a high-tech enterprise investment and capital operation platform. It was jointly initiated by Peking University alumni and alumni-owned enterprises engaged in venture capital and the transfer of university technological achievements, under the advocacy and support of the Science and Technology Development Department of Peking University. Currently, Yanchuang Capital comprises three major business segments: equity investment, securities investment, and collaboration with listed companies involving mergers, acquisitions, and restructuring. Its assets under management exceed RMB 6 billion. Yanchuang Capital has strategically laid out its investments in the big health sector, particularly biopharmaceuticals, and has invested in many well-known innovative pharmaceutical companies, including Hotgen Biotech, Jakemab Therapeutics, Yihong Medical, Tianjing Hangzhou, Apollomics, Aikobio, Laekna Therapeutics, and Biocytogen.
Quanchuang Capital is a venture capital fund focused on early-stage and growth-stage companies in the life sciences sector. Driven by innovation and guided by unique scientific and commercial insights, it identifies, builds, and invests in leading life science enterprises with high-growth potential worldwide. Its portfolio includes companies developing cutting-edge innovative therapies, advanced technology platforms, and industry leaders that fill critical gaps in the ecosystem. Quanchuang Capital currently maintains offices in Shanghai, San Francisco, and Boston. Leveraging extensive industry experience and deep sector resources, its professional investment team identifies and incubates the next generation of outstanding companies. It provides comprehensive support to emerging pharmaceutical and biotechnology enterprises in strategy, operations, and development, assists companies at various stages of growth in their global transformation, and helps them maximize their value.