HaiHe Biopharma, a leading biotechnology company focused on the discovery and development of innovative oncology drugs, announced today the completion of its Series B round worth 1.2 billion yuan.
The round was led by Warburg Pincus, with participation from CMB International, Legend Capital, a fund under CICC Capital, Chaos Investment, Beijing Langzi Asiana Asset Management, Winfast Holding, SSIC Capital, as well as the company’s Series A round investors Biotrack Capital, Yingke PE, Atlas Venture Capital and CSPC.
The funds raised will primarily be used to accelerate the global development and product launch of HaiHe Biopharma's multiple new oncology drugs. CEC Capital acted as the sole financial advisor to the company in this round of financing.
Haihe Biopharma focuses on the discovery, development and commercialization of innovative anti-tumor drugs. With a management team led by an academician from the Chinese Academy of Engineering, Haihe has established a "biomarker-guided" precision medicine platform.
The company has established and completed a technologically advanced and standardized preclinical evaluation system for new drugs and a clinical research system, which is in line with international standards, covering drug development, CMC research, biomarker discovery and confirmation, medical strategic planning and clinical research.
It has created a new drug development system and product pipeline with overlapping advantages and international competitiveness.
The company currently has eight clinical-stage compounds and three preclinical compounds.