Shenzhen Capital Group led Maxvax Biotechnology’s Series C round, while VMS Group co-led Hope Medicine’s extended Series B round. Also, Gree Financial Investment joined Robestec’s Series A round.
Maxvax Biotechnology bags $42m Series C funding
Biological vaccines developer Maxvax Biotechnology has raised 300 million yuan ($42.2 million) in a Series C funding round exclusively invested by Shenzhen Capital Group, the venture investment vehicle of the Shenzhen government.
Founded in 2016, the Chengdu-based firm has developed an R&D pipeline that targets to create safe and effective vaccines. So far, its recombinant herpes zoster vaccine and recombinant trivalent rotavirus subunit vaccine have entered the clinical stage, according to its website.
The firm sealed a Series B and Series B+ funding in 2022, taking its total fundraising to 800 million yuan ($119 million).
Hope Medicine raises $28m in extended Series B round
Biotech firm Hope Medicine has snapped 200 million yuan ($28.1 million) in an extended Series B round co-led by alternative asset management firm VMS Group and state-owned venture capital firm Wuxi Capital Group.
The round roped in Beijing Huairou National Comprehensive Science Center, Ennovation Ventures, and Zhongyin Investment as participating investors, among others, according to a release on Wednesday. The proceeds will be used to finance the firm’s compound development pipeline.
Founded in 2018, the firm engages in the discovery, development, and commercialisation of innovative medicines for endocrine, cardiovascular, and metabolic diseases. Previously, the Nanjing-headquartered firm sealed its $56-million Series B financing round in May 2021 led by Qiming Venture Partners.
Robestec snags $22.5m Series A financing
Energy storage solutions provider Rongheyuan Energy Storage, also known by its brand name Robestec, has secured 160 million yuan ($22.5 million) in a Series A financing round from state-owned investment vehicle Gree Financial Investment, among others.
The round also saw the participation of China Merchants Venture Capital Management, Shandong Railway Development Fund, and Yuanhua Capital, according to a company release.
Founded in 2019, the Shanghai-registered firm will use the proceeds to expand its team and production capacity.