Yizhen Biological Raises RMB 200 Million in Series B Funding, Files Prospectus to Expand in China Market

VCBeat (WeChat ID: vcbeat) learned that biotechnology company Ezhou Biology announced yesterday the completion of its Series B financing round, raising a total of RMB 200 million. Investors included Lilly Asia Ventures, Trust Bridge Partners, and Simcere Pharmaceutical. Including its Series A financing in 2015, Ezhou Biology has now raised a cumulative total of RMB 300 million.

Yizhen Biotech is a global innovator in the field of genomics, empowering individuals to leverage their genetic information for disease prevention and guided healthy living. Co-founded in 2014 by Dr. George Church, a professor at Harvard Medical School and pioneer in genetics, along with his team, the company maintains offices across North America, Asia, and Europe, exerting significant global influence. Yizhen Biotech’s management team boasts over a decade of experience in whole-genome sequencing. Utilizing globally leading next-generation sequencing platforms and proprietary technologies, the company provides professional genetic testing products and services for both clinical applications and the general public.

In 2015, Yizhen Bio announced the launch of its Personal Genome Project (PGP), offering whole-genome sequencing and interpretation. In 2016, Yizhen Bio was named “Leader in Consumer Genetic Products of 2016” by MIT Technology Review and was included in the list of “The World’s 50 Smartest Companies.”

“Genetic testing is increasingly being integrated into daily life, continuously driving the development of precision medicine and industry transformation on a global scale. China’s healthcare sector is developing at a rapid pace; this successful funding round will further accelerate Yizhen Biotech’s innovative R&D efforts, enabling us to provide superior genetic testing products and services to both clinical professionals and the general public,” said Dr. Zhao Yining, Founder and President of Asia at Yizhen Biotech. “The successful closure of our Series B financing underscores investors’ confidence in Yizhen Biotech’s team and the company as a whole, as well as the market’s confidence in the genetic research industry. We are delighted to welcome new investors who will join us in further expanding our presence across Asian and global markets.”

He further stated that the funds would be used to expand genetic testing products and services, strengthen business operations, enhance customers’ digital experience, and establish strategic partnerships with hospitals and researchers worldwide.

He also announced that seven senior executives from around the world have officially joined the company to accelerate business development and achieve its strategic goals:

Furthermore, Yizhen Biotech is highly optimistic about the Chinese market. As early as June 2015, it announced the establishment of a research and development center in Hangzhou, China, dedicated to developing next-generation sequencing technologies tailored for Asian patient populations.

Lilly Asia Ventures, established in 2008, serves as the venture capital investment arm of Eli Lilly and Company in Asia. It focuses on equity investments in the biopharmaceutical, biotechnology, medical device, healthcare services, and animal health sectors, with a particular emphasis on Asia, especially China. Lilly Asia Ventures currently manages two U.S. dollar-denominated funds and one RMB-denominated fund.

Lilly Asia Ventures invests across stages including start-up, growth, and pre-IPO. Typically, each investment ranges from $5 million to $15 million.

Trust Bridge Partners, founded in 2006 by Li Shujun, former CFO of Shanda, is an offshore investment fund management platform focused on investing in the Chinese market.

Its private equity funds primarily invest in growth-stage and expansion-stage enterprises, spanning industries such as new energy, environmental protection, new materials, consumer products and services, retail and distribution, and new media. Trust Bridge Partners also manages a $300 million hedge fund focused on Chinese companies listed on overseas securities markets, and oversees the $100 million QFII quota allocated by the Columbia University Endowment for investments in China’s domestic A-share market.

Trust Bridge Partners’ capital is primarily sourced from prestigious U.S. university endowments (such as Columbia University, Stanford University, and New York University), internationally renowned investment institutions (such as Temasek Holdings of Singapore and Kerry Group Limited of Hong Kong), and influential private investors in the international capital markets.

Simcere Pharmaceutical is the largest pharmaceutical company in China, established on March 28, 1995.A leading Chinese manufacturer and supplier of innovative drugs and branded generic medicinesIn 2005, Hony Capital, a subsidiary of Legend Holdings, invested RMB 210 million to acquire a 31% stake in Simcere Pharmaceutical. On April 20, 2007, Simcere Pharmaceutical successfully listed on the New York Stock Exchange, raising USD 261 million under the ticker symbol SCR, becoming the first chemical and biological pharmaceutical company from mainland China to be listed on the NYSE.