15 Chinese companies to watch in April 2022
Editor’s Note: At EqualOcean, we have been tracking major funding rounds or industry events that took place in China’s healthcare sector in April 2022. And the following is a list of deals that we have selected for you, based on a number of criteria, including the amount of funding. , funders and segments in which startups operate.
Ammunition Life Technology (Chinese: 艾米森), a high-tech healthcare company, raised more than 100 million yuan ($15.12 million) in a Series C funding round from CCB International, Wuhan Hi-Tech, Sanya Xuanpan and other investors in late April. It was founded in 2015 and focuses on non-invasive screening and early detection of high incidence malignancies.
TG Immune Pharma
TG Immune Pharma (Chinese: 天港免疫) completed its pre-Series A funding round worth more than CNY 100 million (USD 15.12 million) at the end of April. Castar and Innoval Capital were the co-investors, followed by Hefei Industry Investment Group, Efung Capital, Tiantu Capital, Guoyuan Innovation Investment and other investors. A quasi-unicorn company in cancer immunotherapy, TG Immune Pharma strives to develop its capacity for original innovation.
Lingfu Bio (Chinese: 灵赋生物) received more than 200 million CNY (30.24 million USD) on April 25 from investors such as China Life Equity Investment and Legend Capital. Other investors like Chang Development, Puhua Capital and Safe Pharmaceutical were also involved. The company has already pocketed nearly 50 million yuan in its angel funding round. Co-incubated by several well-known companies and expert teams in the laboratory animal industry in 2021, Lingfu Biotechnology aims to become the leading scientific research service provider in China.
Bostal (Chinese: 玻思韬) completed in mid-April a Series B1 financing round of more than CNY 100 million (USD 15.12 million) led by Huatai Trust Fund under Huatai Zijin Investment, with the participation of Chuangyu Ming’an Fund, Zhongfu Yide Fund and Jet Biofil. Founded in 2013, Bostal is a high-tech pharmaceutical company focusing on the R&D of international pharmaceutical preparations and new technology of controlled release drug delivery system.
Biosurf (Chinese: 百赛飞), a developer of functional bio-coatings, raised over CNY100 million (USD 15.12 million) in Series B funding round from Huatai Zijin Investment, Guoqian Venture , HYView Group, Science and Innovation Fund of Suzhou Industrial Park and other investors on April 15. The former shareholder, Essence Capital, increased its equity. Biosurf was founded in 2017 and has established the first professional technical service platform covering the whole industrial chain of functional biological coating in China.
Baylx Biotechnology (Chinese: 贝来生物) completed Series B and Series B+ financing rounds for a combined amount of CNY 300 million (USD 45.36 million) on April 15. The Series B round was jointly led by SDIC Venture Capital and Detong Capital, followed by New Hope Industry Investment. The Series B+ round was led by Huajin Capital, followed by existing shareholders SDIC Venture Capital and New Hope Industry Investment. Founded in 2015, Baylx is a national high-tech enterprise dedicated to stem cell and regenerative medicine research, new stem cell drug R&D and clinical transformation.
Synthgene Biotechnology (Chinese: 申基生物) completed a Series A+ funding round in early April. This financing round was led jointly by Lake Bleu Capital and LYFE Capital. Existing shareholders Sherpa Healthcare Partners and Legend Star continued their additional investments. Previously, the Series A1 funding round was jointly invested by Swiss China Corp, Sherpa Healthcare Partners and Legend Star. The two rounds of financing have accumulated over 300 million CNY (45.36 million USD). Founded in 2018, Synthgene biotech focuses on the supply of raw materials used in the upstream part of life sciences.
Raymonpharma (Chinese: 锐明新药), an ophthalmic drug developer, closed its Series B funding round worth over CNY 100 million (USD 15.12 million) on April 6. This round was led by the CR-CP Life Science Fund and backed by Jinding Capital. Raymonpharma is committed to innovative small molecule ophthalmic drugs.
Arthur Group (Chinese: 亚瑟医药) announced the closing of a Series A funding round of over CNY100 million (USD15.12 million) led by Addor Capital, with participation from Changxing Financial Holding, Jiaxing Science and Technology City Fund, Ruiying Holdings and other private equity funds. Founded in 2020, Arthur Group is an innovative high-tech pharmaceutical technology company focused on the development, production and sale of high-end drugs.
METiS (Chinese: 剂泰医药), an AI drug and delivery systems developer, raised $150 million in two rounds of funding on April 6 from PICC Capital and China Life Private Equity Investment, with the participation from Sequoia China, 5Y Capital, CMB International, Lightspeed China Partners, Monolith, Frees Fund and other investors. Founded in 2020 and incubated by XtalPi (Chinese: 晶泰科技), a technology-driven drugmaker, METiS has completed five rounds of financing.
Reliable Med (Chinese: 瑞莱普) entered its Series A2 funding round of 100 million CNY (15.12 million USD) from CITIC PE Fund and Morning Spring Venture on April 1. Existing backers Legend Capital and Chende Capital made follow-on investments. Founded in 2019, Reliable Med is committed to promoting the implementation of innovative sensing applications based on mass spectrometry technology.
CATUG Biotechnology (Chinese: 楷拓生物) raised tens of millions of dollars in a Series A funding round on April 25 from Genesis Capital, InnoVision Capital, Oriza Holdings, Lanhu Capital, Tsing Song Capital and Northern Light Venture Capital. The funds will be used to build a plasmid and mRNA industrialization base and a new technology R&D platform, and to continuously improve the capacity and scale of the one-stop service platform CDMO (Contract Design & Manufacture Organization).
Clinical Research Elixir
Contract research organization Elixir Clinical Research (Chinese: 圣方医药研发) closed its Series A funding round worth $52 million on April 22. This funding round was jointly invested by LYFE Capital, Sinovation Ventures and Chow Tai Fook.
AI protein design platform MoleculeMind (Chinese: 分子之心) closed an angel funding round for tens of millions of dollars on April 18. This funding round is led by Sequoia China, with participation from Baidu Ventures, Life Science Park Innovation Fund, Neux Capital Fund and Innovation Future. The company was started by Professor Xu Jinbo who worked for the Toyota Technological Institute in Chicago. He was also an assistant professor at the Computation Institute at the University of Chicago as well as a visiting professor at the Biomedical Pioneering Innovation Center at Peking University.
LTZ Therapeutics (Chinese: 泽安生物医药) closed a $17 million pre-Series A funding round on April 7 led by Xianfeng Cowin Investment, followed by Qiming Venture Partners and Tigermed. LTZ is a biotechnology company specializing in immunotherapy and was co-founded by three pioneers in the development of new drugs, Dr. Robert Li, Dr. Martin Treder and Dr. Zhou Jianhui.