China-based life sciences enzyme product developer Yeasen Biotechnology has raised RMB300m ($46.3m) in a series B-plus round featuring Legend Capital, the venture capital firm established by conglomerate Legend Holdings, DealStreetAsia reported yesterday.
Alternative asset manager Citic Private Equity Funds Management led the round, which was also backed by HM Capital, Haiwang Capital, Huasai Fund and Hongkou Kangrui Investment.
Founded in 2014, Yeasen provides a range of enzyme and antibody products for the life sciences sector. It offers more than 3,000 types of enzymes and has provided its products and services to more than 30,000 customers including hospitals, academic institutions, contract research organisations and in vitro diagnostics companies.
The proceeds of the round will fund research and development activities for the company’s enzyme products and the construction of a new production facility. Yeasen had received $38.9m in a June 2021 series B round led by Legend Capital.
The series B round included life science services provider Xinsheng Pharmaceutical, Shanghai Hoaxing Investment and existing backers Step Fund, Anhui Tanzhen Investment Management and Hetai Ventures, likely a subsidiary of online life insurance provider Hetai.