China’s Yisheng Biopharma nets $130m in Series B round co-led by OrbiMed

China’s Yisheng Biopharma Ltd has closed its $130-million Series B round co-led by returning investor OrbiMed and deep tech-focused investor Oceanpine Capital.

Yisheng had raised an undisclosed sum in its Series A round funding from Eight Roads back in 2012. 

Chinese investment bank CEC Capital served as the financial advisor for the deal, it said in a WeChat post on Wednesday.

Yisheng will use the proceeds to support R&D operations, clinical trials, commercialisation and to set up manufacturing bases in Singapore and China. 

Founded by chairman Yi Zhang, Yisheng leverages its proprietary immunomodulating technology PIKA to develop vaccines and medicines for cancers and infectious diseases. 

Since its inception in 1994, it has delivered and marketed a slew of vaccines targeting rabies, hepatitis B, herpes zoster, and influenza. Yisheng has produced safe and efficient vaccine products to treat Covid-19, per its press release issued in June 2020. 

Headquartered in Beijing, Yisheng has also set up operations in the US, Singapore, and Cambodia.

“The COVID-19 pandemic has triggered abrupt development in vaccine research around the globe, which has been a focus of our investment in the healthcare sector,” said Oceanpine Capital CEO and managing partner Dave Chenn in the statement. 

Yisheng’s early stage investors also include 3W Capital, Hillhouse Capital, Adjuvant Capital, MSA Capital, AIHC, Epiphron Capital, Superstring Capital, Haitong International, among others. 

Earlier in January 2021, Oceanpine Capital had joined hands with OrbiMed and other marquee investors such as Temasek and Hillhouse’s GL Ventures to back the $2300million Series C round for Chinese global clinical-stage biotech company Clover Biopharmaceuticals.

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.