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China Digest: Drug developer Hope nets $56m; biotech firm Yikon raises $39m
Source: Laurynas Mereckas/Unsplash
May 6, 2021
Chinese innovative drug developer Hope Medicine has secured $56 million in a funding round led by investment firms Qiming Venture Partners and Grand Flight Investment, while biotech firm Yikon Genomics has raised 250 million yuan ($38.6 million).
Qiming, Grand Flight lead $56m round in drug maker Hope
Chinese drug developer Hope Medicine has secured $56 million in a Series B round of financing jointly led by investment firms Qiming Venture Partners and Grand Flight Investment, the startup announced on Thursday.
Health-focused investment platform HighLight Capital; Sinovation Ventures, a technology venture capital (VC) firm led by former Google China head Kai-Fu Lee; alongside growth equity firm Trustbridge Partners, which had backed Hope’s Series A round in 2019, all poured capital into the new round.
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Chinese PE fund manager CICC Capital secures $649m second close of biomedicine fund Premium
CICC Capital, the private equity (PE) fund management platform of Hong Kong-listed investment bank CICC, has reached the second closing of its biomedicine fund at over 4.2 billion yuan ($648.7 million), said the firm in a WeChat post on Monday.
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