China-based medical research provider Genechem has secured almost RMB400m ($56.4m) in a series C round featuring pharmaceutical firm Humanwell, which invested through its biological medicine industry investment fund, DealStreetAsia has reported.
Private equity firm Hidragon Capital, investment firm Principle Capital and venture capital firms InnoSpring and Shanghai Zhangjiang S&T Venture Capital also contributed to the round.
Also known as Jikai Gene Chemical Technology, Genechem offers a range of life sciences research services including target discovery and verification, efficacy and pharmacology research, drug analysis and production services.
The company concentrates on translational medicine which combines benchside, bedside and community insights.
Genechem had raised approximately $15.3m from chemical fibre producer Aoyang, investment firm Highlight Capital and Huasheng Capital, a VC affiliate of investment bank China Renaissance, in 2016, according to DealStreetAsia.
Investors including InnoSpring and Principle Capital reportedly provided an undisclosed amount for Genechem in January 2019, before an investment vehicle for pharmaceutical producer and distributor Renfu Pharmaceutical followed suit two months later, according to Pencil News.
