Maiwei Biotech Raises ￥1.97B in Series A Funding Round

According to PEdaily.cn, Shenzhen Maiwei Biotech Co., Ltd. ("Maiwei Biotech") has completed the Series A round of 1.97 billion yuan, led by Shiyu Capital, with participation from Oriental Fortune Capital, Loyal Valley Capita, Haitong Capital, Founder H Fund, Ganzhou Development Investment, Huarong Rongde Asset Management, Huajin Investment, Sincere Capital, Ningbo Gaolin Fund, Suzhou Ruihua, and Nanshan National Fund. 

Proceeds from the latest round will be used to accelerate the R&D and industrialization of innovative biological products of Maiwei Biotech, to help the company enter into a high-speed growth period.

Founded in 2016, Maiwei Biotech is committed to the R&D and manufacture of monoclonal antibodies, long-acting recombinant proteins, and other macromolecular drugs. The company uses the high-pressure syringe, pressure connecting tube as the breakthrough point, based on products used in radiology, anesthesia, and ICU, to become a medical device solution provider for departments in hospitals.

Maiwei Biotech equips with 2000 square meters of 100000 medical-grade purified workshop. Its core team has long experience in multinational medical device enterprises. The company owns many significant technologies of medical devices and patents for product invention. It has developed an internationally recognized high-throughput antibody platform for drug discovery, with the comprehensive pharmaceutical research system and mature process development. 

Maiwei Biotech focuses on industrial transformation and commercialization, and its commercial production base built according to the GMP standards of China, Europe and the United States, has been put into use in Taizhou, Jiangsu Province, with the large-scale industrial base in Shanghai under construction. The first product of Maiwei Biotech is expected to be listed in 2020, and the number of listed products will reach more than four by 2023. The company is rapidly developing into a leading biopharmaceutical company in China.

Shiyu Investment is a professional equity investment and asset management institution, focusing on equity investment in the pharmaceutical and healthcare industry, asset allocation, and wealth management. Founded in September 2014, the company's total assets under management are now over 5 billion yuan.

OFC is one of the leading venture capital investment firms in China. OFC has established a solid investment record since its founding in 2006. Currently, the company is managing 42 funds with assets totaling more than 20 billion yuan. Its funds cover five industries, including Telecommunication, Media & Technology (TMT), Green Technology, New Material & Advanced Manufacturing Technology, Healthcare, and Entertainment & Consumption.