Internet group Tencent has supplied RMB100m ($15.3m) in series C-plus funding for China-based contract research organisation Obio Technology, DealStreetAsia reported yesterday.
Founded in 2013, Obio undertakes biochemical research outsourced by clients such as drug developer developers, with a focus on gene therapy-led projects.
Tencent’s investment comes three months after Obio pulled in $44.2m in a series C round that included private equity firm Loyal Valley Capital and 5Y Capital, the venture capital firm formerly known as Morningside Group.
The September round followed $28.6m in pre-series C funding from venture capital firm Efung Capital in July this year.
Obio’s existing investors include derivatives broker China Merchants Securities and GP Capital, a fund-backed by government-owned financial holding group Shanghai International Group, as well as Zhangjiang Venture and Shanghai Pudong Science and Technology Investment.