China-focused venture capital firm Qiming Venture Partners has led a RMB200 million (US$29 million) series A round in Sino Biological Inc., a Beijing-based recombinant protein and antibody developer, according to a company announcement.
Founded in 2007, Sino Biological develops and produces recombinant protein, antibody and enzyme-linked immunosorbent assay (ELISA) kits, which can be applied in immunology, cell biology, oncology, neuroscience and stem cells. The products can be used to treat a number of diseases such as lung cancer, colorectal cancer, lymphoma, arthritis and Hemophilia.
The company says that it develops 800 to 1,000 types of recombinant protein and 1,500 types of antibody every year. It has provided services to universities, hospitals, pharmaceutical companies and inspection agencies in over 90 countries.
“Sino Biological is a leading research and production platform for monoclonal antibody and recombinant protein. Its founder, Dr Xie Liangzhi, and its team are dedicated to supplying people with affordable biological medicinal products. I am glad to participate in the development of the company,” said Nisa Leung, managing partner of Qiming.
A number of antibody drug developers have successfully raised financing this year. Mabworks Biotech Co. Ltd., a Beijing-based gene engineering antibody drug maker, raised a RMB270 million (US$39 million) series B round led by Shenzhen GTJA Investment Group.
C-Bridge Capital, a healthcare-focused private equity firm, led a US$150 million round in an entity formed by the merger of drug developer Tianjing Biopharma Technology and biopharmaceutical company Tianzhenshi Biotechnology Company in March.
Source: chinamoneynetwork.com
