China Digest: MatrixPartners invests in Advaccine; Baidu Smart Living closes new funding

REUTERS/Kim Kyung-Hoon

Beijing Advaccine Biotechnology has raised 200 million yuan ($29 million) in a Series B round funding from MatrixPartners, Star Capital, and others, while Baidu’s Smart Living Group (SLG) has secured an undisclosed Series A from Baidu, CPE, and IDG.

Advaccine raises $29m Series B

Beijing Advaccine Biotechnology Co., Ltd, a clinical-stage biotech firm specialising in vaccine products such as HBV therapeutic vaccine, has pocketed 200 million yuan ($29 million) in a Series B round funding from returning investors Star Capital and New Alliance Capital, a 1 billion yuan ($147 million) private equity fund.

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