Insurance firm China Pacific and Haier Capital, the corporate venturing vehicle for appliance manufacturer Haier, co-led a RMB925m ($134m) round for China-based medical services provider Shanghai Cell Therapy yesterday, China Money Network reported.
The round was also co-led by investment manager China Industrial Asset Management and it included Legend Capital, the venture capital firm established by conglomerate Legend Holdings, according to an announcement on Shanghai Cell Therapy’s QQ account.
Shanghai Cell Therapy offers diagnostics and treatment services for cancer, most prominently in the form of cell therapies, though it also pursues cell cryopreservation, genetic testing, medical data practices and health consultation.
The company also maintains a research centre in the city of Shanghai. Legend Capital had previously provided it with approximately $26.9m in funding in 2016, according to China Money Network.
China Industrial Asset Management led Shanghai Cell Therapy’s $39.6m series C1 round last month, investing with Legend Capital, though that round well may have comprised part of the latest funding. CEC Capital was financial adviser for the new round.
