China’s Lynk Pharmaceuticals and Bestzyme Bioengineering have raised capital in separate rounds.
Lynk Pharmaceuticals bags $28.2m in Series C1 round
Biopharmaceutical firm Lynk Pharmaceuticals has bagged 200 million yuan ($28.2 million) in its Series C1 round, according to a release.
The round saw the participation of Beijing-based private equity fund-of-funds firm China Grand Prosperity Investment, as well as Hangzhou-based Tailong Venture Capital, which exclusively invests in healthcare sectors including biopharmaceutical and medical devices.
Beijing Liandong Investment Group, also known as Liando U Valley, which operates and invests in industrial parks in China, also joined the round. The Hangzhou-headquartered firm plans to use the proceeds to accelerate the clinical development of its core products, per the release.
Founded in 2018, the firm is engaged in the discovery and development of novel medicines to treat oncology, immunology, and inflammatory diseases. Previously, it raised $50 million in a Series B round led by Lilly Asia Ventures.
Bestzyme Bioengineering secures $35.2m
Nanjing Bestzyme Bioengineering (BSJ Nanjing), an indirect non-wholly-owned subsidiary of Hong Kong-listed Genscript Biotech, has secured 250 million yuan ($35.2 million) in its initial equity financing round, according to a filing with the Hong Kong Stock Exchange on May 28.
Nine investors joined the round to acquire around 10.41% equity interest in BSJ Nanjing. Following the transaction, Genscript Biotech will hold around 82.59%, per the filing.
Two funds under Huatai Zijin Investment, a private equity unit of Hong Kong-listed Huatai Securities, are among the nine investors that joined the round. A slew of Nanjing-registered investors including Daoxing Entrepreneurship Investment Management Center, Zhibo Hesheng Venture Capital, Huahai Venture Capital, and Lixu Management Consulting participated in the round.
BSJ Nanjing will use the proceeds to accelerate the research and development process of the synthetic biology pipeline and strengthen the commercial expansion of innovative enzyme products.
Founded in 2013, BSJ Nanjing is engaged in the research, development, and manufacturing of enzyme products applicable in different industries such as food, beverage, and textile.