ZhenGe Biotech banks $51M in Series A Round, Focusing on Macromolecular Drugs, CDMO and Medium

According to lieyunwang.com, Shanghai ZhenGe Biotechnology Co., Ltd. ("ZhenGe Biotech"), a Chinese macromolecular pharmaceutical contract development and manufacturing organization (CDMO), has secured $51 million in a Series A round of financing led by Shanghai-based healthcare investment firm LYFE Capital, with participation from IDG Capital, Cowin Capital, Korea Investment Partners, GT Capital, and Shanghai International Group ("SIG").

Proceeds of this round will mainly be used for talent introduction, expansion of research and development center, construction of GMP production base in China (Shanghai) Pilot Free Trade Zone (including the production base of macromolecular drugs, medium, and ADC drugs), and construction of R&D laboratory in the United States.

ZhenGe Biotech was established on November 7, 2017, with a registered capital of 50 million yuan, in Lingang Fengxian Park, Shanghai, China. Its R&D center is located in Shanghai Zhangjiang High-Tech Park. The core business is the CDMO services, along with mammalian cell culture medium development and production. 

Currently, ZhenGe Biotech has more than 110 employees, including 7 returned scientists and engineers from overseas. In addition, ZhenGe Biotech has established collaborative relations with dozens of domestic and foreign biopharmaceutical companies.

ZhenGe Biotech has first-class R&D environment and instruments, and a complete set of small-scale R&D and pilot production equipment. It has also set up a 4000 square feet R&D lab in Rockville, Maryland, USA, mainly engaged in large-molecule drug discovery services, molecular design, cell line establishment, and medium development.

LYFE Capital is only seeking biotechnology, pharmaceutical, medical device, diagnostic, healthcare service and digital health companies with an established product foundation but needs a bit more capital to accelerate its growth in China. The company supports the needs of portfolio companies not only by providing capital but with market planning, talent acquisition, global expansion, and global partnership support.

Founded in 1992, IDG Capital is a leading investment firm, focused on developing extraordinary companies through our expertise in private equity and venture capital, as well as real estate. The company works with private equity and venture capital fund managers, investment advisors and business entities around the world.