Gensciences Secures Over RMB 800 Million in Series A and B Funding, Aims to Become a Global Leader in Hemophilia Therapeutics

VCBeat (WeChat ID: vcbeat) has learned that Shengsi Bio announced today the completion of over RMB 800 million in Series A and B financing. The Series B round was led by Haitong Capital, with participation from Efung Capital and Huarong Rongde Asset Management. Existing Series A investors, including IDG Capital, Shanghai New Alliance Investment Management, and Hygeia Capital, continued their support. The funds raised in this round will continue to support the company’s R&D and clinical development of biologic drugs, the construction of production facilities, and commercialization efforts. China Renaissance served as the exclusive financial advisor to Shengsi Bio for both its Series A and Series B financing rounds.

Wang Yali, CEO of Shengsi Biopharma, stated: “We extend our gratitude to all parties, including existing and new investors as well as financial advisors, for their support in the company’s development. Leveraging this support and the dedicated efforts of our team and entire workforce, the company will sequentially have multiple new drug applications approved for marketing, advance into clinical trial stages, and submit or prepare to submit clinical trial applications. We aim to first become a top-tier global enterprise in the hemophilia field, then evolve into an industry leader, and subsequently expand into the areas of metabolic diseases and oncology, thereby providing more valuable new drugs to patients in China and worldwide.”

Zhang Xiangyang, Chairman of Haitong Capital Co., Ltd., stated: “Haitong’s private equity investment platform remains committed to long-term positioning in China’s innovative pharmaceutical sector. We consistently invest in teams with the capability to participate in global innovation and years of deep expertise in scientific research. Dr. Wang Yali’s research team at Shengsi Bio has been dedicated for many years to research in areas such as chemical modification of protein drugs. With a focus on developing urgently needed therapies for Chinese patients, the company has established a pipeline of internationally competitive candidates in the field of major diseases.”

Hu Haoyue, Investment Director at IDG Capital, stated, “The Shengsi Bio team has long been dedicated to the research and development of long-acting biologics. With a comprehensive and leading presence in the hemophilia field, the company is poised to launch China’s first long-acting recombinant Factor VIII. It also has multiple early-stage innovative products in the fields of diabetes and oncology. We believe that under the leadership of Dr. Wang Yali, Shengsi Bio will bring more and better clinical therapies to patients in China and around the world.”

Dr. Zhang Xiao, Managing Director of China Renaissance, stated, “We are honored to have been deeply involved in planning the company’s capital market strategy from its early stages and to have successfully assisted the company in completing two rounds of significant financing within six months. In serving all our clients, our goal is not only to help enterprises address their financing needs but also to provide comprehensive empowerment across various aspects, including corporate establishment, strategic development, pipeline enhancement, and capital market planning. We are grateful for the opportunity to grow alongside the outstanding team at Shengsi Biopharma and to contribute our modest efforts to the development of China’s biopharmaceutical industry.”

Jiangsu Shengsi Biological Pharmaceutical Co., Ltd. and its subsidiaries—Shanghai Shengsi, Beijing Shengsi, and Zhengzhou Shengsi—are focused on addressing unmet clinical needs in the global fields of hemophilia, metabolic diseases, and oncology. Leveraging its leading protein expression and protein modification platforms, the company is developing recombinant long-acting and ultra-long-acting coagulation factor products (Factor VIII, Factor IX, and Factor VII) with globally leading performance and safety profiles. In the field of metabolic diseases, it has ultra-long-acting insulin and GLP-1 products under development, and in oncology, it is developing PSMA-targeted therapies.

IDG Capital pioneered venture capital operations in China in 1993. With nearly three decades of development, IDG Capital has remained committed to long-term value investing, managing approximately RMB 150 billion in assets. It has invested in over 1,000 outstanding companies worldwide, with more than 200 successful exits. IDG Capital focuses on leading enterprises in sectors such as Technology, Media, and Telecom (TMT), new consumption and services, culture and entertainment, healthcare, advanced manufacturing, and clean energy. Its investment scope covers all stages, including early-stage, growth-stage, mature-stage, and mergers and acquisitions/restructuring. Notable investments in the healthcare sector include MGI Tech, Ping An Good Doctor, Edogene, Highcon Biotechnology, BioBrii, ZenBio, Shengsi Bio, Minghui Pharma, MicroTech Medical, Suzhou Caike, Keya Medical, and AccutarBio.

Haitong Capital, established in 2008, is a wholly-owned equity private investment platform of Haitong Securities. It focuses primarily on investment opportunities in sectors with technological barriers and national policy support, such as high-end manufacturing, information technology, and biopharmaceuticals. The firm manages assets exceeding RMB 30 billion and has cumulatively invested in over 400 companies.

Shanghai New Alliance Investment Management Ltd., established in 2008, is a fund management company specializing in private equity and venture capital. It manages multiple funds with total assets under management exceeding RMB 10 billion. Its major investors include renowned state-owned enterprise groups, professional funds of funds, government guidance funds, and listed companies.

Lianxin Capital’s primary investment focus areas include TMT and healthcare, covering all stages from early-stage to growth-stage and mature-stage companies. To date, it has completed nearly 80 investments, with more than 20 portfolio companies having gone public or listed on exchanges in China and abroad, nurturing a cohort of industry leaders.

Efung Capital is one of the earliest professional biomedical investment firms in China, specializing in global venture capital (VC) and private equity (PE) investments in the biopharmaceutical sector. With outstanding investment performance and exceptional investment research capabilities, Efung Capital has been honored with titles such as “Top 30 Healthcare Investment Institutions in China for 2020” by Zero2IPO, “Top 20 Best Biopharmaceutical Investment Institutions of 2019” by China Venture, “Top 10 Best Exit Cases of 2019” by China Venture, and “China’s Most Dynamic Drug Innovation Investment Institution.” It has also been featured in an exclusive interview by Nature, a world-renowned scientific journal. Efung aims to promote the industrialization of biotechnological achievements through capital investment and is dedicated to advancing life sciences.

Established in 2006 with special approval from the Ministry of Finance, HUARONG RONGDE ASSET MANAGEMENT CO.,LTD. is China’s first Sino-foreign joint venture asset management company, jointly founded by China Huarong and Deutsche Bank. Designating investment in healthcare and life sciences as a key strategic pillar, the company established its Healthcare Finance Department in 2015. By recruiting top talent, it has built a multidisciplinary investment team with deep industry research capabilities and extensive industrial experience. The team focuses on niche sectors such as innovative pharmaceuticals, innovative medical devices, medical technology, and healthcare services. To date, it has invested in over 40 outstanding enterprises, with cumulative investments exceeding RMB 3 billion. Several portfolio companies have successfully gone public, including Mabwell Bioscience, HaiChuang Pharmaceuticals, Bloomage Biotechnology, United Imaging Healthcare, KangLe WeiShi, Changfeng Pharmaceutical, ZhiDao Bio, and FlexCloud Technology. The company has formed an investment strategy centered on co-investment in early-stage ventures and direct equity investment in mid-to-late stages, while also covering mezzanine investment, supply chain finance, asset acquisition and restructuring, and other debt investments. HUARONG RONGDE remains committed to providing long-term, comprehensive financial services to leading enterprises in the healthcare and life sciences industry.

Hygeia Capital is a private equity investment fund focused on the healthcare and wellness industry, driven by a dual strategy of “active investment” and “in-depth services.” Its management team possesses extensive background in the medical and health sector as well as substantial experience in equity investment. The fund’s portfolio includes numerous high-quality enterprises such as Kindly Medical Devices (1501.HK) [interventional medical devices], Cofoe Medical Technology (approved for listing on the ChiNext Board) [home-use medical devices], Bestar Clinical CRO [clinical CRO], Velocibio [new drug R&D], ZhiDao Bio [new drug R&D], Zhongyi Anke [vaccine R&D], Respilead Pharmaceutical [new drug R&D], Hybio Pharmaceutical [new drug R&D], Shengsi Biopharma [new drug R&D], Kaifu Pharmaceuticals [new drug R&D], Huajian Future [new drug R&D], Junyue Pharma [device CRO], and Xinuo Medicine [animal testing].