China Deal Monitor: Biopharma firm Cytovant nets $23.5m and more updates

Shanghai-based clinical-stage biopharmaceutical company Cytovant has raised $23.5 million in a new funding round, per an announcement on Friday. The round was led by global financial services company BNH Investment, a South Korean VC firm that focuses primarily on bio & healthcare industries.

The round also saw the participation of a host of Korean companies such as POSCO Capital, Mirae Asset Venture Investment, and Smilegate Investment, among others.

Cytovant is committed to developing cellular therapeutics for Asian patients. Led by Dr. John Xu, a molecular immunologist with more than 20 years experiences, Cytovant owns therapeutics dendritic cell (DC) vaccines and TCR-transgenic T-cell (TCR-T).

Earlier in April 2019, global T cell immunotherapies player Medigene AG had licensed DC vaccine technologies to Cytovant.

The company aims to further develop the DC and TCR-T procedures in Asia.

“Asian patients have unique immunologic features and are treated in healthcare systems that may differ markedly from their Western counterparts. Our strategy is to develop treatments to address those needs precisely,” said Dr. Xu in the satement,“This financing will rapidly accelerate the development of our medicines for patients in China, Korea, and Japan.”

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from April 3, 2020. 

Topping the list is Suzhou Ribo Life Science, a nucleic acid drugs developer, which has seen the completion of Series C2 funding round at 470 million yuan ($66 million) from SAIC Capital, Everest VC, Sinopharm-CICC Fund, Shenzhen Zhonghui, FTZ Fund, and Hongtao Capital

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Suzhou Ribo Life ScienceKunshan66 millionC2China State-owned Venture Capital Fund,CICC Qide Fund, Hillhouse CapitalSAIC Capital, Everest VC, Sinopharm-CICC Fund, Shenzhen Zhonghui, FTZ Fund, Hongtao CapitalHealth Tech
Genechem GroupShanghai56 millionC-Humanwell’s biological medicine industry investment fund, Hidragon Capital, New Margin, FTZ Fund, Principle Capital, InnoSpringHealth Tech
Shanghai QST Corporation Shanghai49 millionB+-Walden International, Junchenda Capital, Jiuyou Fund, Jiangsu Runcheng, lingang Sc-Innovation Invest, New Alliance Capital, GP CapitalHardware
JunlebaoShijiazhuang42 millionStrategic InvestmentCentral SOEs Industrial Investment Fund for Poor Area-Consumer & Brands
CytovantShanghai23.5 million-BNH InvestmentPOSCO Capital, Mirae Asset Venture Investment, Smilegate InvestmentHealth Tech
QCraftSilicon Valley / Shenzhen* 10 millionSeed-IDG Capital, Vision Plus Capital, Tide CapitalAutomative
Choc ApmShanghai4.5 million--Cyanhill CapitalConsumer & Brands
Enjoy MoveShanghai* 1.4 millionAngel-Legend Star, BAIC CapitalAutomative
DataQinHangzhou* 1.4 millionPre-A--Blockchain
VenmedtechSuzhou* 1.4 millionA+-SND Financial Holdings, Green RiverHealth Tech
JixingShanghai1.4 millionA-Jinmiao Fund, Diedai CapitalSoftware & Service
Tian Wei Xin CaiZhuhai--Addor Capital-Hardware

indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example. 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.