Yisheng Biopharma Completes $130M Series B Funding Round

(VCBeat) Feb. 24, 2021 -- Yisheng Biopharma Ltd. ("Yisheng Biopharma") today announced that it has closed a Series B financing round of more than $130 million, co-led by Oceanpine Healthcare Fund and OrbiMed. CEC Capital acted as the exclusive financial advisor in this round.

After the completion of the latest round, Yisheng Biopharma's institutional investors include Oceanpine Healthcare Fund, OrbiMed, Eight Roads, F-Prime Capital, 3W Fund, Hillhouse Capital, Adjuvant Capital, MSA Capital, AIHC, Yipu Capital, Superstring Capital, Haitong Capital, etc. 

The investment will enable Yisheng Biopharma to build the R&D center, promote multi-center clinical trials of multiple vaccine products at home and abroad, build vaccine manufacturing facilities in China and Singapore, and accelerate the commercialization of the products. 

Yisheng Biopharma is an international biopharmaceutical company headquartered in Beijing, focusing on the R&D and commercialization of innovative antiviral and anti-tumor vaccines and biologics based on its novel PIKA^® immunomodulating technology. Yisheng Biopharma employs more than 500 people in China, the United States, and Singapore. Its YSJA^TM rabies vaccine is the first aluminum-free rabies vaccine lyophilized formulation developed in China. The product has been commercialized in China, where more than 16 million people have been vaccinated.

The products of Yisheng Biopharmacurrently in development include YS-ON-001 for the treatment of advanced solid tumors and YS-HBV-001, a hepatitis B vaccine. Recently, the novel coronavirus vaccine (YS-SC2-010), YS-HBV-002 for the treatment of chronic hepatitis B, and YS-ON-002 for the treatment of advanced solid tumors have been added to the pipeline in preclinical development.

Oceanpine Healthcare Fund is a healthcare venture fund that aims to connect innovation in the US to the Chinese consumer base, and primarily invests in Chinese and US firms with core technologies and proprietary R&D capabilities. They bridge a supply and demand gap exacerbated by limited R&D in China. 

OrbiMed is a healthcare-dedicated investment firm, with approximately US$5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies.