China Digest: Genechem raises $56m; Junlebao gets $42m

China Digest: Genechem raises $56m; Junlebao gets $42m

Laboratory equipment. Photo: Pixabay

Chinese biotech firm Genechem has closed nearly 400 million yuan ($56 million) in a Series C round from domestic investors, while Sequoia-backed dairy products maker Junlebao has raised about 300 million yuan ($42 million) in a strategic investment from state-owned Central Enterprises Poverty Alleviation Fund.

Biotech firm Genechem closes nearly $56m in Series C round

Genechem, a Shanghai-based biotech firm specialized in translational medical science, has closed nearly 400 million yuan ($56 million) in a Series C round of financing from a slew of domestic investors.

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