Temasek leads $59 million Series B in biotech firm Just China

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Hangzhou Just Biotherapeutics Co Ltd (Just China), an affiliate of Seattle-based Just Biotherapeutics, has closed a RMB400 million ($59 million) Series B round led by Singapore state investment firm Temasek Holdings, the China Money Network reported.

Others who participated in the round include Taikang Life Insurance Co., Ltd., Hangzhou Economic & Technological Development Area, Bank of China and Bank of Hangzhou. The biotech firm’s existing investors Lilly Asia Ventures and ARCH Venture Partners also made follow-on investments.

Zhao Yining, co-founder of Just China, said the team is “committed to demonstrating the innovation in our products and business model, to truly accomplish our mission of providing good quality biotherapeutics for all.”

Just Biotherapeutics, Inc. announced the formation of Just China, its partially owned affiliated company, in Hangzhou, China in March this year. Soon after, the two companies, along with G-CON Manufacturing, announced they are setting up a state-of-the-art biologics facility in the Hangzhou Economic & Technology Development Area (HEDA) in China. Currently under construction, the cGMP facility is expected to be completed and operational in early 2018.

Just Biotherapeutics, Inc. itself has earlier secured funding from the Bill & Melinda Gates Foundation, Merck, Lilly Asia Ventures and ARCH Venture Partners.

Outside the investment in Just China, other major investments of Temasek in China include Alibaba Group, China Construction Bank Corporation and Industrial and Commercial Bank of China Limited (ICBC).

As of March 2017, Temasek has reached a net portfolio value of S$275 billion, covering spaces including financial services, telecom, Consumer and transport.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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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.