China Digest: Huasky Medical, ZSHK Lab in funding news

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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.

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.