Chinese biopharma firm DAC Biotech nets $156m co-led by GL Ventures
Source:
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May 12, 2021
Biopharmaceutical firm Hangzhou DAC Biotech Co., Ltd has announced the completion of a 1 billion yuan ($156 million) Series C round co-led by PE firm Hillhouse Capital’s venture unit GL Ventures.
State-backed CITIC Private Equity Funds Management (CPE), and CDG Capital a Hong Kong-based investment firm that has invested in healthcare startups like Innovent, Akeso, and Grail were the co-lead investors, DAC Biotech said in a WeChat post on May 8.
It also attracted new investors including CITIC Securities, healthcare-focussed TigerYeah Capital, and K.Wah Group.