China’s JOINN Biologics Inc has raised 422 million yuan ($60 million) in its Series A round of financing led by Huagai Capital, per a company statement.
Chaosheng Capital, Hong Kong Hualian Holding Group, and Xiangtang Capital joined the round.
Established in 2018, contract manufacturer JOINN, earlier a subsidiary of Shanghai-listed JOINN Laboratories (China) Co, Ltd, was later spun off as an independent unit. JOINN Laboratories remained its majority shareholder.
Led by Tao He and Shusheng Geng, the founders of JOINN Biologics, the firm has set up innovation parks in Beijing and California. JOINN Biologics plans to build a biological concentrate storage vessel with a capacity of 10,000 liters and production lines in the Beijing innovation park.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out major venture capital transactions in the Greater China region on December 10, 2019.
