China Digest: Healsun raises nearly $37m; Warburg, Macquarie near Bohao deal

Photo by Raimond Klavins on Unsplash

Chinese contract development and manufacturing organisation (CDMO) Healsun Biopharm has raised nearly 250 million yuan ($36.7 million) in a Series B round. Separately, Warburg Pincus and Macquarie Asset Management are reportedly close to making an investment of about $450 million in China’s Bohao Internet Data Services.

Healsun raises nearly $37m in Series B

Chinese contract development and manufacturing organisation (CDMO) Healsun Biopharm has raised nearly 250 million yuan ($36.7 million) in a Series B round of financing led by the 10 billion-yuan ($1.5 billion) Shanghai Biomedical Industry Equity Investment Fund.

Hangzhou-based private equity (PE) fund Orient Jiafu Asset Management; HT Capital, a PE investment arm of China’s Haitong Securities; and Xinghua Dingli participated in the round, alongside existing shareholders Haibang Capital and Yinxinggu Capital, the startup said in a statement on Thursday.

Founded in 2015, Healsun primarily serves biotech and pharmaceutical clients in China and internationally. Its services range from early druggability evaluation, culture medium customisation, and process development for biopharmaceutical drugs including antibody-drug conjugates (ADCs), to pilot production, IND application, and clinical sample production.

The startup, with R&D and production centres in Hangzhou and Shanghai, plans to use the new funding to expand the team, scale its production line, and enhance technology R&D to help address some pain points in the drug-making process.

Warburg, Macquarie near investment in Bohao: report

Warburg Pincus and Macquarie Asset Management are reportedly close to making an investment of about $450 million in Bohao Internet Data Services that could value the Chinese data centre company at over $1 billion.

The US-based PE giant and the arm of Australia’s financial major Macquarie Group are in talks at an advanced stage and an agreement could be reached soon, Bloomberg reported on Thursday, citing people familiar with the matter. The proceeds would help Bohao elevate its growth in China, the people said, asking not to be identified because the matter is private.

Bohao did not immediately respond to DealStreetAsia’s email request for comments.

Headquartered in southern China’s Guangdong Province, Baohao specialises in the development of large-scale and ultra-large-scale, high-performance data centres across several cities and regions in China. It designs and develops Internet data centres for clients including Internet companies, telecom and IT service providers, cloud service firms, and financial institutions, its official website shows.

In 2020, the firm raised 2 billion yuan ($294 million) in a Series A funding round from global institutional investors. It claims to have delivered data centres with a gross area of over 400,000 square metres (over 4.3 million square feet) as of December 2021.

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