Hillhouse leads $160m Series B funding in Chinese biopharma firm Genor

Photo by Louis Reed on Unsplash

Chinese clinical-stage biopharmaceutical firm Genor Biopharma on Monday announced that it has garnered $160 million in a Series B round of financing led by Asia-focused private equity major Hillhouse Capital Group.

Other investors in the new round include Singapore state investor Temasek Holdings, Shanghai-based private equity firm Haitong Capital, Cavenham PE, and CR-CP Life Science Fund, a 50-50 joint venture between China Resources Group and Thailand’s Charoen Pokphand Group that invests in life science companies.

Established in December 2007, Genor Biopharma is developing and commercialising therapeutic antibodies to fight cancer and other diseases. It has more than 400 employees in Shanghai, Yunan and Beijing in China as well as a laboratory in San Francisco. The firm has more than 10 products in its pipeline, with many of them at the clinical development stage.

Genor will use proceeds of the Series B round to finance the clinical development of its existing pipeline, R&D of early-stage innovative drugs, potential strategic partnerships at home and abroad, as well as preparation for the commercialisation of its mature products.

In December 2019, Bloomberg reported that the Chinese biopharma firm was planning an initial public offering in Hong Kong to raise about $200 million. It was said to have reached out to potential advisers for the share sale plan.

Shanghai-based Genor Biopharma raised 370 million yuan ($52 million) from Chinese asset managers Yingke PE and KEN Capital in June 2018. The previous round valued the firm at 3.47 billion yuan ($486 million).

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.