Prosperity7 Ventures co-led Full-Life Technologies’s Series B round, while Vcare PharmaTech and Baoying Gases secured investments.
Full-Life Technologies bags over $47m in Series B round
Radiotherapeutics firm Full-Life Technologies has notched $47.3 million in a Series B equity financing round co-led by Prosperity7 Ventures, the $1-billion growth fund of Saudi Arabia’s Aramco Ventures.
The fresh capital injection comes together with a credit line of $16 million, as the firm seeks to accelerate the R&D and commercialisation of its radiopharmaceutical research, the firm shared on Thursday.
A life science-focused investment fund also led the Series B round, although the firm did not divulge details of the investor. The round also roped in Sky9 Capital, Chengwei Capital, HongShan (previously known as Sequoia Capital China), and Junson Capital among its participating investors.
Founded in August 2021, the firm has operations in Belgium, Germany, and China. Prior to the Series B round, the firm snapped $37 million in a Series A round in May 2022.
China Life’s PE arm joins Vcare’s Series C funding round
Chinese contract research organisation (CRO) firm Jiangsu Vcare PharmaTech has secured 450 million yuan ($62.9 million) in a Series C funding round, according to a company release.
China Life Private Equity Investment Company, the alternative investment platform under the country’s largest state-owned insurance firm China Life Insurance, participated in the round.
DYEE Capital also joined the round, while existing backers including Nanjing Innovation Capital Group and Huadian Investment re-upped.
Founded in 2010, the Nanjing-based firm specialises in the area of CRO and contract development and manufacturing organisation (CDMO). It previously sealed its Series A2 funding round in April 2022 which was participated by CMG-SDIC Capital and Hubei Yangtze River Industry Investment Group.
Cathay Capital invests in Baoying Gases’ Series B, B+ rounds
Baoying Gases, which invests in and operates industrial gas plants, has recently raised 400 million yuan ($55.9 million) in Series B and extended Series B funding rounds.
The round saw the participation of investors including Cathay Capital, BOCOM Capital, SAIC Motor Corp’s Hengxu Capital, and a fund under Xiamen ITG Holding Group, according to a company release.
Founded in April 2021, the firm bagged 100 million yuan ($14.5 million) in October 2023 from Royalsea Capital, a fund under the management of BOCOM Capital.