China-based pharmaceutical services provider MabPlex International has secured more than RMB500m ($70.7m) in a series B round backed by insurance group Sunshine Insurance, DealStreetAsia reported today, citing a WeChat post.
DT Capital Partners and Huajin Capital co-led the round, which included OrbiMed, China Merchants Securities, Finnova Capital, Horus Capital, Qiandao Fund, GF Venture Capital, Yantai Finance Investment Group, Huachen Equity Investment Management and SDIC Venture Capital.
Founded in 2013, MabPlex provides contract biopharmaceutical development and manufacturing services through sites in the Chinese cities of Yantai and Shanghai as well as a research hub in the US city of San Diego.
The company’s expertise covers areas such as monoclonal antibodies, antibody-drug conjugates, recombinant proteins and bispecifics.
MabPlex completed a $59.1m series A round in January 2019 featuring SDIC Venture Capital’s parent entity, State Development & Investment Corporation, and Shenzhen Venture Capital.
DealStreetAsia also named GF Venture Capital, Yantai Finance and Huachen Equity Investment Management as existing investors in the latest round.
