Chinese biopharma firm LianBio bags $310m from CMG-SDIC, others

Source: Volodymyr Hryshchenko/Unsplash

Shanghai-headquartered biopharmaceutical company LianBio has raised $310 million in an oversubscribed crossover financing round co-led by US healthcare-focused investment firm RA Capital and Venrock Healthcare Capital Partners, besides CMG-SDIC Capital – a 10 billion yuan ($1.5 billion) fund jointly launched by state-owned SDIC Fund and China Merchants Capital.

The round also saw the participation of a clutch of new investors such as American global asset manager BlackRock’s sub-fund Casdin Capital, Farallon, Logos Capital, Sphera Healthcare, an affiliate of T. Rowe Price Associates, Tybourne Capital Management, Vida Ventures, Pfizer Inc, Viking Global Investors, and Wellington Management, LianBio said on its website.

Meanwhile, LianBio’s founding investor Perceptive Advisors also re-upped its investment. Perceptive Advisors, a New York-based investment firm that specializes in life sciences, had partnered with Nasdaq-listed American biopharmaceutical firm BridgeBio Pharma, Myokardia, Navire Pharma and QED Therapeutics to set up LianBio in August 2020.

New York-based American leading investment bank and financial service company Jefferies LLC facilitated the transaction.

The corpus will be used to develop the company’s global innovation mining platform.

LianBio designs and provides innovative drugs and treatments that cater to China and other Asia markets. Led by CEO Bing Li, the company is looking to ramp up its efforts to diversify its pipeline of drugs for cardiorenal diseases and oncology.

“Building on the success and momentum of the company’s recent launch, this financing provides additional support for LianBio’s efforts to contribute to China’s dynamic life sciences landscape by addressing significant unmet medical needs in the region,” said Konstantin Poukalov, managing director, Perceptive Advisors and Executive Chairman of LianBio, in a statement.

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.