Venture capital

China-US biotech firm closes $80m Series B funding

Sino-US trade tensions have not discouraged Korean investors from China's booming biotech industry as the cancer immunology specialist completes its Series B funding.

Shanghai and Boston-based oncology therapy provider Oncologie has raised $80 million Series B funding from Chinese and Korean investors.

The round was led by Nan Fung Life Sciences and Pivotal BioVentures China, both subsidiaries of Hong Kong-based Nan Fung Group. A group of Korean investors also joined the round, including Korea Investment Partners, Korea Bank, DSC investment, and Korea-listed Company K Partners.

There was participation too from Chinese investors including Panacea Venture Healthcare, China Summit Capital, Zheshang Industrial Integration and Jiuyou Fund. CEC Capital acted as lead financial advisor.

“Very few Korean investors have experience in investing into China,” Jimmy Wei, managing partner...

¬ Haymarket Media Limited. All rights reserved.

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