Diversified China-based therapeutics developer MingMed Biotechnology secured $50m yesterday in a series A-plus round that included beauty e-commerce platform operator Yatsen Holding.
Jifeng Ventures, Yifeng Capital, Oceanpine Capital, Gaorong Capital, JCP Capital and Flower City Ventures filled out the participants in the round.
Founded in 2019, MingMed Biotechnology is developing small-molecule cancer therapies in addition to drugs for use in cosmetic procedures and the treatment of ocular disorders.
Gaorong Capital led the company’s $60m series A round in March this year, investing together with backers including Lightspeed China Partners, Flower City Venture Capital Management, JCP Capital, Zhuhai Huajin Capital and Henqin Financial Investment Group.
