Haihe Biopharma Raises ￥1.2B in Series B Round of Financing

According to VCBeat, on July 24, 2020, Shanghai HaiHe Pharmaceutical Co., Ltd ("Haihe Biopharma"), a leading biotechnology company focusing on the discovery and development of innovative oncology drugs, announced the completion of a Series B financing round of 1.2 billion yuan. This round was led by led by Warburg Pincus. Also participating were Yingke PE, CSPC Pharmaceutical Group Ltd., Hillhouse Capital, Chinese Academy of Sciences Venture Capital, Atlas Capital, BioTrack Capital, Elite Capital and Daehwa Pharmaceutical.

The funds raised will be used to accelerate the development and marketing of several new anti-tumor drugs worldwide.

Guided by its mission, HaiHe Biopharma insists on the way of independent innovation and pursues the global development of Chinese original innovative drugs. 

HaiHe Biopharma has built a precision medical platform guided by biomarkers, and established a fully integrated pre-clinical evaluation technical platform and clinical study system for innovative drugs, with advanced technology and operation in consistence with international standards and norms, covering subunits from compound synthesis, CMC study, biomarker discovery and validation, medical strategy and clinical study, etc. 

Dr. Dong Ruiping, CEO of Haihe Biopharma, said, "We are very grateful for the continuous support from many professional investors in this round of financing. There are 11 compounds, 8 of which are in the clinical stage, and 5 of which are in preclinical testing. The company is comprehensively promoting the clinical development and commercialization of products and expanding the global market. We look forward to working closely with our partners to provide patients with safer and more effective drugs at an early time."

Warburg Pincus focuses on private equity investing. Established over 50 years ago, Warburg Pincus has invested more than $84 billion in more than 900 companies in more than 40 countries around the world. The firm has more than $53 billion in private equity assets under management. 

Founded in 2010, with its headquarters in Fuzhou in China, Yingke PE is a principal investment firm specializing in pre-IPO investments. It seeks to invest in 5G IoT, biomedical, environmental and facilities services, new energy, consumer upgrade, smart manufacturing, and materials sector.