China Digest: CDH backs Harbour BioMed; Hive Box gets $323m financing

U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. REUTERS/Thomas White/Illustration

In the latest funding developments in China, Shanghai-based pharma company Harbour BioMed said it has completed Series A+ round of financing led by Chinese private equity firm CDH Investments, while Hive Box has raised $323 million in a strategic financing round from a group of investors.

CDH Investments backs Harbour BioMed

Shanghai-based pharma company Harbour BioMed on Monday announced that it has completed Series A+ round of financing led by Chinese private equity firm CDH Investments, with participation from Advantech Capital.

Financial details were not disclosed.

Established in 2016, Harbour BioMed is a global biopharmaceutical company discovering and developing innovative therapeutics for cancer, with a focus on immuno-oncology, and immunological diseases.

It started with $50 million A round financing, and acquired Harbour Antibodies BV and its subsidiaries, one of the few companies that owns technologies for generating fully human monoclonal antibodies, of both conventional as well as heavy chain only form, it said in a statement.

“We are building a top-notch antibody discovery and technology team specialized in Immuno-Oncology and Immunology, developing a robust internal pipeline targeting global market, in licensing innovative assets to address high unmet needs for the China market, and forging new partnerships based on internal technology platforms,” said Dr. Jingsong Wang, CEO of Harbour BioMed.

The company’s current investors include Atlas Venture, Advantech Capital, Legend Capital, CDH Investments and the founding team. Harbour BioMed is headquartered with R&D Centers in China. It also has a Business Operation and Innovation Center in Boston, and an Antibody Technology Innovation Center located in Rotterdam, The Netherlands.

Hive Box gets $323m financing

Chinese logistics company Hive Box has raised $323 million in a strategic financing round from a group of investors including Eastern Bell Venture Capital, Global Logistic Properties (GLP), STO Express, SF Express, Yunda Express, and Long Star Growth Group Limited, reported CMN.

Other Chinese private companies too participated in the financing.

CDH Investments had reportedly led a $360 million (RMB2.5 billion) series A funding round in Hive Box a year ago, which operates a network of self-service package drop-off and pick-up stations across China.

Hive Box was formed in June 2015 through a joint investment by Chinese courier companies SF Express Co. Ltd, STO Express, ZTO Express and Yunda Express, as well as GLP, with an aim to provide the best express delivery experience by developing a 24-hour self-service open platform for express delivery companies and e-commerce logistics.

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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.