Chinese contact lens maker Dearer and Abiochem Biotechnology have raised funding.
Dearer nets $65m in Series B
Shanghai-headquartered contact lens manufacturer Dearer has raised 420 million yuan ($65 million) in a Series B round of financing.
State-backed alternative asset manager CITIC Private Equity Funds Management (CPE), Legend Holdings’ investment arm Legend Capital and BioTrack Capital joined the round. Insight Capital made a follow-on investment in the round.
The company will use the proceeds for R&D and mass production of coloured contact lenses, the company said in a statement.
Its early-stage investors include Orient Securities, Borchid Capital, FOF Capital and eyecare service provider Eyebright.
Temasek invests in Abiochem
Chinese genetic and enzyme engineering technology company Abiochem Biotechnology Co Ltd has raised nearly 300 million yuan ($46 million) in a Series C round financing from Singapore’s state investor Temasek and China Merchants Bank’s Hong Kong-based subsidiary CMB International, according to a company statement on April 30.
The current round brings the total corpus secured by Abiochem to nearly 700 million yuan ($108 million).
Abiochem will use the proceeds to spruce up the development of biologics, as well as to facilitate the manufacturing facility in Southwest China’s Chongqing.
Abiochem, which is targeting an initial public offering on the Shanghai bouse, claims that it is currently in the pre-listing process.
Previously, Abiochem had completed three other rounds of financing from Highlight Capital, Addor Capital, Langcheng Capital, Haitong-Fortis Private Equity Fund Management, among others.