BioEngine Sci-Tech, which develops serum-free medium solutions for biopharmaceutical firms, has raised 300 million yuan ($42.5 million) in a Series C funding round, according to a company release on May 15.
Beijing-headquartered venture capital firm NRL Capital led the Series C round while Xiamen C&D Emerging Industry Equity Investment, Riverhead Capital, Huimei Capital, and Kington Capital, are among the investors who joined the round.
Previous backers including Addor Capital, CTS Capital, and Legend Capital re-upped in the round. The funding will help the Shanghai-headquartered firm to expand its market presence in China.
Since its inception in 2014, the firm claims that it has served over 200 biopharma firms to support the development of antibodies, vaccines, and cell and gene therapies. The firm also has a presence in Beijing, Guangzhou, Chengdu, and Suzhou.
Previously, the firm raised 200 million yuan ($31 million) in its Series B extended round in March 2022 led by Legend Capital.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing all prominent venture capital transactions in the Greater China region from May 15– 21, 2023.
