Chinese biotech firm Bao Pharmaceuticals has secured over $100 million in a Series B round of financing led by Oriental Fortune Capital to ramp up its efforts to develop and commercialise recombinant protein drugs and antibody drugs.
Haitong Innovation Captial Management, the private equity (PE) arm of China’s Haitong Securities, as well as Chinese domestic investment companies Sun Rock Capital Management and Jintong Capital participated in the deal. Existing investors CenterLab and Findowin Capital re-upped in the round, the lead investor announced in a statement.
