China Digest: Zion Pharma raises $20m round; Langsin Venture closes $17m fund

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Chinese pharmaceutical firm Zion Pharma has secured nearly $20 million in a Series A+ round of financing, while early-stage investment company Langsin Venture has closed a new RMB-denominated fund at 120 million yuan ($17 million).

Zion Pharma raises nearly $20m Series A+ round

Zion Pharma, a Chinese startup that develops small molecule anti-tumour drugs, has secured nearly $20 million in a Series A+ round of financing jointly led by Qiming Venture Partners and Beijing-based investment firm Sherpa Healthcare Partners.

Medfine Capital, a Shanghai-based fund that primarily backs companies in the life sciences and pharmaceutical fields, also participated in the Series A+ round, according to a statement on Monday.

Founded in 2018, Zion Pharma has five anti-tumour projects in the pipeline.

Proceeds of the new round will be used to invest in the Phase I clinical trials of its major drug candidates in China and the US, as well as to apply for Investigational New Drug (IND) permission to test other drug candidates in its pipeline.

Zion Pharma completed a $12-million Series A round from Qiming Venture Partners, Medfine Capital, life sciences-focused early-stage investment firm TF Capital, and Ming Bioventures in January 2019. In May 2018, the startup also raised $3 million in an angel round led by TF Capital, per the company website.

Langsin Venture closes new fund at $17m

Chinese early-stage investment firm Langsin Venture has closed a new RMB-denominated fund at 120 million yuan ($17 million), bringing the total assets managed by the company to 200 million yuan ($29 million), according to a statement.

Langsin Venture focuses on early-stage technology startups at the seed and Series A stages in the industries of AI, enterprise services, intelligent manufacturing, new materials, and education. The company has offices in Beijing, Shanghai, Guangzhou and Shenzhen.

Its funds are backed by limited partners including academic institutions, government-guided industry funds, family offices, quasi-unicorn companies and others.

The company has backed startups including autonomous driving solutions provider Qianlimu and Yelang Tech, which develops next-generation human-computer interactive technology.

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.