Latest Big Rounds Herald A China Biotech Funding Spring?
Around the turn of the year, four Chinese biotechs including Kelun Biotech and BioRay ramped up funding with deals worth more than $100m, at a time when overall investment sentiment in the sector remains gloomy.
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Private Company Edition: While Coya Therapeutics raised $15.25m in the final initial public offering in the US last year, Apnimed stayed private raising $80m in a series C extension and Metagenomi extended its series B by $100m to total $275m.
Leading the group were Trinomab Biotech, which develops antibodies for infectious diseases, and cell and gene developers BRL Medicine and XellSmart.
Large or small, Chinese biotechs are receiving the cold shoulder from some investors amid souring investment sentiment. HanBio, Frontier and InnoCare have all seen their fundraising efforts hampered to various degrees.