China – Chinese biotech firm raises nearly $28M in Series B round

Hrain Biotechnology, a Chinese company that specializes in the research and development of tumour immunotherapy technologies, has secured 200 million yuan ($27.97 million) in a Series B round of financing led by Chinese state-backed venture capital firm Shenzhen Venture Capital, it announced on Monday. A group of investors including Chinese private equity firm Xiamen Junyida Capital Management, Shenzhen-based Qianhaiyu Investment, and a healthcare fund jointly launched by Yangming Capital and the local government in southeastern China’s Fujian province, also poured money into the new round. Hrain Biotechnology, founded in 2015 and based in Shanghai, focuses on the research, development and application of tumour immunotherapy technologies, advanced precision treatment solutions, and the transformation of foreign tumour immunotherapy technologies…