Contract development organisation (CRO) Huasky Medical has garnered $50 million in its Series C round, while Hong Kong-based Chinese CRO firm ZSHK Lab has raised 100 million yuan ($15 million) in its Series A round led by Qiming Venture Partners.
Huasky Medical nabs $50m in Series C round
Huasky Medical, a contract development organization (CRO) headquartered in Beijing, has raised as much as $50 million in its Series C round, per a company statement on July 23.
The round saw the participation of New York-based OrbiMed Healthcare Fund Management along with China-headquartered SPD Bank’s overseas arm SPDB International that together had participated in the company’s $40 million Series B round in September 2020.
A host of new investors have pumped in capital too. These include private equity investment firm Springs Capital, Xiading Capital, Zhongyuan Capital and Xinling Capital.
Huasky is associated with the national pharmaceutical industry through one-stop pre-clinical CRO and clinical trials. The firm currently has a headcount of 1,100 employees and its laboratories span over 50,000 square meters.
Earlier this year, the company had picked up a 19.54% stake in pharmaceutical technology platform Union-Genius in January. Thereafter, it acquired Naranja Pharma in April.
Qiming leads $15m funding in ZSHK Lab
Qiming Venture Partners has led a 100 million yuan ($15 million) Series A round in Hong Kong-based biotech firm ZSHK Lab, the investee said in a company statement on Monday.
The fresh round also saw the participation of Hong Kong’s healthcare-focused investment firm Ascendum Capital.
ZSHK is poised to invest the proceeds to facilitate the construction of its laboratories, ramp up hiring and business development.
ZSHK’s is a one-stop service station for sectors such as pharmacology, pharmacokinetics, drug safety, among others.
The firm owns pre-clinical drug evaluation laboratories in Hong Kong and East China’s Suzhou, while the laboratory for new drugs and medical devices in Shenzhen will be completed in the second half of this year.