OBiO Technology Raises ￥200M in Pre-C Round

According to VCBeat, recently, OBiO Technology (Shanghai) Co., Ltd. ("OBiO Technology") announced the completion of pre-C round financing, with a total amount of about 200 million yuan. This latest round is led by EFUNG Investment, with the participation of Loyal Valley Capital, Pudong Innotek, ZJ Innopark, GP Capital, WisdoMont Asset Management, Jobe Capital, Shanghai Furong Investment, Fenghang Investment, and others.

Proceeds from the latest round will be mainly used for the construction of a large-scale precision medical industrial park, the introduction of overseas talents, the development of gene therapy vectors, etc. OBiO Technology will further expand its leading advantages in the field of CRO/CDMO in gene therapy to better meet the growing demands of recombinant virus vectors for gene therapy and cell therapy, improve CDMO/CMO services, and lay a solid foundation for heading to the overseas market.

The construction of the large-scale precision medical industrial park located in the New Lingang Area of the Shanghai Pilot Free Trade Zone is scheduled to start the fourth quarter of 2020, covers an area of more than 70000 square meters, which will be conducted in two phases and gradually put into operation. The project will be accomplished in 2027, and provide CDMO/CMO services of gene and cell therapy virus vector worth more than 1 billion yuan yearly.

EFUNG Investment is one of China's earliest institutions investing in professional biomedical industries. Over a decade of years, EFUNG Investment has been focusing on the medical and health industry, especially the VC and PE investment business of novel drugs and high-end medical devices. 

LVC is a thematic, research-driven private equity firm that invests in middle-market companies positioned to benefit from the secular industry transformation in China. With over US$2 billion of AUM, LVC focuses on four segments: New Consumer, Healthcare, Specialty Industrials, and Financial Services.