OriGene Biotech Completes Pre-C Round Financing of Nearly RMB 200 Million with China Renaissance as Financial Advisor

VCBeat (WeChat ID: vcbeat) has learned that Obio Technology (Shanghai) Corp., Ltd. (“Obio Technology”) has officially announced the completion of its Pre-C financing round, with a total amount of approximately RMB 200 million. The round was led by Yifeng Capital, with participation from multiple investment institutions, including Zhenxin Valley Innovation Capital, Pudong Sci-Tech Innovation, Zhangjiang Hi-Tech Investment, Jinpu Investment, Shengshan Asset Management, Qiaobei Venture Capital, Furong Investment, and Fenghang Investment.

China Everbright Capital served as the financial advisor to Obio Technology in this transaction.

This round of financing will primarily be used to initiate the construction of a large-scale, precision industrial park in Lingang, attract high-end overseas talent, and develop new technologies and processes for gene therapy vectors. These efforts will further expand the company’s leading advantage in the domestic gene therapy CRO/CDMO niche, better meet the growing comprehensive demand for recombinant viral vectors in China’s gene and cell therapy sectors, and lay a solid foundation for continuously enhancing its CDMO/CMO service capabilities and entering overseas markets.

Construction of Obio Technology’s large-scale, precision industrial park in the Lingang New Area of the Shanghai Pilot Free Trade Zone is scheduled to commence in the fourth quarter of 2020. Covering an area of 50 mu with a total construction area of over 70,000 square meters, the project will be developed in two phases and gradually become operational. The entire project is expected to reach full production capacity by 2027, providing gene therapy and cell therapy viral vector CDMO/CMO services valued at over RMB 1 billion annually to both domestic and international markets.