Zencore Biologics, a high-tech enterprise engaged in the CDMO business of biological drugs and the development and production of culture medium formula, announced the completion of the Series-A financing of US $51 million in March 2020. This round of financing is led by LYFE, followed by IDG Capital, Tongchuang Weiye, KIP Capital, Junxin Capital and Guofang Master Fund. Jones day, a US law firm, served as the legal adviser, and Instant Capital participated as the financial adviser.
This round of financing will be mainly used for talent acquisition, R & D center expansion, construction of GMP production facility Lingang New Area of Shanghai pilot free trade zone (including pilot and commercial GMP production facility for biological drug, commercial GMP production of media, GMP pilot production facility for ADC drug, etc.), and establishment of Zencore Innovation Center in the US.
Mr. Jianxin Chen, CEO of Zencore Biologics, said " thanks to all of our investors for their recognition of Zencore Biologics's potential, thanks to all of our customers for their trust in Zencore Biologics, thanks to all of our dedicated employees for their tremendous efforts, and thanks Lin-gang New District for their continued support! Zencore Biologics will grow steadily and rapidly to provide the Biopharmaceutical industry with a full range of cost-effective technical services and products."
Introduction to the investor:
Founded in 2015, LYFE Capital is a professional Sino US medical fund with assets of about US $1.3 billion. The fund is committed to investing in Chinese and American companies, including biopharmaceuticals, medical devices and medical diagnosis. LYFE Capital works closely with the invested enterprises not only to provide financial support, but also to assist in international business development, to search for overseas partners, to actively support marketing plan and team building, and to provide help for product approval and market access. The enterprises are not only the invested projects but are also our long-term partners.
IDG Capital, founded in Boston in 1992, is a leading private equity firm in the world. After nearly 30 years of development, the company's business has spread all over Europe, the United States and the Asia Pacific region. At present, the company has offices in 13 cities around the world, and the accumulated assets under management are about 20 billion US dollars. IDG Capital focuses on leading enterprises in the fields of Internet and high technology (TMT), new consumption and services, culture and entertainment, medical and health care, advanced manufacturing and clean energy. Its investment scope covers the start-up stage, growth stage, mature stage, M & A and other stages, and the investment scale ranges from millions of dollars to hundreds of millions of dollars. In 1993, IDG Capital took the lead in entering China and became the first foreign investment institution to enter the Chinese market. So far, IDG Capital has invested more than 800 outstanding companies worldwide, and over 180 companies have passed IPO or M&A in the US, Europe, Hongkong, China and Chinese mainland Capital markets.
COWIN Capital is one of the first professional private equity investment companies in China. With nearly 20 years of investment management experience and dual currency fund management ability, to COWIN Capital has managed more than 20 billion yuan (RMB) and 400 million US dollars (USD) of assets. It has successively invested in more than 400 enterprises and nearly 80 listed companies. It is a leading domestic professional investment institution with long operation time and excellent returns. COWIN Capital focuses on big health, big science and technology, big information, new energy, new materials, and new industry. It maintains a steady investment strategy, discoveries hidden champions, supports innovation and entrepreneurship, and fully serves the real economy. It also has a US dollar fund and has become one of the local venture Capital institutions with dual currency fund management capabilities in China. With more than 20 years of deep Capital market accumulation, COWIN Capital helps enterprises grow rapidly and realize the value of the enterprises in the Capital market.
KIP (Korea Investment Partners) is one of the leading venture capital institutions in Asia. It belongs to the largest listed financial holding group in South Korea. It was founded in Seoul in 1986. For more than 30 years, KIP has maintained a steady investment pace and excellent fund returns. KIP has accumulated over US $5 billion in total assets management, focusing on biomedicine / big health, mass consumption and financial technology, ultra-precision technology and manufacturing, with portfolio enterprises all over the world. Since 2015, KIP has successively established a total of seven RMB funds in China and set up offices in Shanghai, Beijing, Chengdu, Guangzhou, Shenzhen and other cities.
Junxin Capital is a fully market-oriented private equity investment platform of Junyao group-Aijian group. Junxin Capital actively invests in medical health and information technology companies, with a focus on the lead enterprises in the two industries located in the Yangtze River Delta, Beijing and Guangzhou Shenzhen. Junxin Capital has invested in a number of high-quality enterprise in CRO, CDMO, innovative medicine, premier quality generic medicine, biological medicine, medical devices, medium and high-end medical services, consumables, laboratory data management and chip design. Leveraging the extensive resources from shareholders, first-class institutional investors, and cross regional and cross industry strategic cooperation alliances, Junxin Capital continues to provide outstanding services for the invested enterprises in corporate governance, strategic planning and implementation, business development, listing and merger and acquisition.
Growth FOF of China was founded in Shanghai in June 2017 and established by Shanghai International Group, the Shanghai financial control platform. At present, the total assets under management 13 billion yuan (RMB). The Yangtze River Delta collaborative advantage industrial fund managed by Growth FOF of China is the first large industrial fund in China to promote the integration of Yangtze River Delta through Capital market. The first fund has raised 10 billion (RMB), mainly invested in biomedicine, artificial intelligence and integrated circuit. Since its establishment, the Growth FOF of China has adhered to double wheel strategy of "FOF+ direct investment", and raised and invested nearly 30 funds in total. In the field of biological medicine, it has invested directly in many well-known projects including new mileage hospital group, Weitai medical, Kunlun medical cloud and Byohan.
Jones day Shanghai Zhongda law firm acted as the legal adviser of ZhenGe Biotech's round a financing and provided legal services for ZhenGe Biotech. Jones Day's global presence spans five continents, with 43 representative offices and more than 2500 lawyers. Jones Day is unique in its unique customer service tradition, mutual assistance and close cooperation based on a true partnership model, top legal teams across business areas and jurisdictions, and common professional values based on customer needs.
