GL Ventures, Temasek co-lead $230m round in China's Clover Biopharmaceuticals

Photo: National Cancer Institute/Unsplash

Clover Biopharmaceuticals, a global clinical-stage biotech company that develops and commercialises transformative biologic therapies, announced on Tuesday the completion of an oversubscribed Series C funding round at $230 million.

The new investment was co-led by Hillhouse Capital’s venture capital (VC) unit GL Ventures and Singapore’s state investment firm Temasek, with participation from Oceanpine Capital, OrbiMed, and Clover’s existing investor Delos Capital. It brought Clover’s total capital raise in the past 12 months to over $400 million.

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