Huahui Health, a China-based hepatitis treatment developer backed by pharmaceutical firm WuXi AppTec, has received $78m in series A-plus funding, DealStreetAsia reported on Tuesday.
GL Ventures, the venture capital arm of private equity firm Hillhouse Capital, led the round, investign toegther with venture capital firm Matrix Partners China and Hankang Capital, possibly a vehicle for investment holding company Zhongjianxin Group.
Founded in 2015, Huahui Health is developing treatments for hepatitis B and is also conducting research on cancers and viruses. The funding will be used to develop its product pipeline, grow its team and support its drug discovery and development platform.
Matrix Partners China and Hankang Capital were both described by DealStreetAsia as existing Huahui Health backers, and it also identified WuXi AppTec, state-backed accelerator platform BSTIG and healthcare investment firm Sherpa Healthcare Partners as early investors.
