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General Atlantic, IDG lead $100m fourth round for Chinese biotech firm Biotheus Source: National Cancer Institute/Unsplash March 4, 2021 Biotheus, a Chinese biotech firm focusing on the treatment of malignant tumours and autoimmune diseases, has secured over $100 million in its fourth funding round co-led by growth equity investor General Atlantic and Beijing-based investment firm IDG Capital. New investors in the round include Chinese private equity (PE) firm Kunlun Capital, CITIC’s asset management firm CPE, and Shenzhen-based PE Cowin Capital, Biotheus said in a statement on Wednesday. Returning investors such as healthcare-focused investment companies HighLight Capital and Shiyu Capital, Chinese fund manager New Alliance Capital, and Huajin Investment participated in the deal. ....
Chinese diagnostics firm WuXi Diagnostics raises $150m in Series B round WuXi Diagnostics has developed a series of COVID-19 detection products. Source: WuXi Diagnostics February 24, 2021 Chinese integrated diagnostics developer WuXi Diagnostics has raised $150 million in a Series B round of financing to advance its R&D pipeline and open-access innovation enabling platform, as the firm seeks to accelerate its market penetration in the global diagnostics sector. The Series B round was backed by new investors including Thermo Fisher Scientific, the world’s largest maker of scientific instruments; healthcare-focused investment firm Shiyu Capital; ABC International, a wholly-owned subsidiary of Agricultural Bank of China; Sunland Capital, which focuses on early- and growth-stage healthcare investments; and equity investment fund CCBI Tech Venture. ....