Sequoia Capital China has led an over 100 million yuan ($15 million) Series B+ round funding in Chinese innovative biotechnology firm Moon (Guangzhou) Biotech Co., Ltd (MoonBiotech), per a company statement on Thursday.
The company will use the proceeds to expedite the commercialisation of pipeline candidates.
Set up in 2015, MoonBiotech uses novel microbial separation and cultivation technologies to provide innovative microbial products and solutions. Its offerings such as microorganisms and metabolites meet the needs of covering biomedicine and biological agriculture industries.
State-backed Yuexiu Financial Holdings’ investment arm Yuexiu Industrial Fund has been a long-time backer in MoonBiotech. Prior to this round, the industrial fund had exclusively infused ‘millions of US dollars’ in MoonBiotech’s Series B round in 2020. Prior to that, it had also invested in the firm’s pre-A round in 2018 and angel round in 2015.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from June 23-24, 2021.
