Low-profile Shanghai-based CDMO secures high profile investors for 9-digit Series C
In a bid to expand R&D and manufacturing capabilities, Shanghai-based ZhenGe Biotech netted a $100 million Series C Tuesday.
With offices in Shanghai and the US, the transpacific CDMO garnered the support of Goldman Sachs Asset Management, who co-led the financing round with Sofina. Other investors joined in the round, including Novo Holdings, Qiming Venture Capital, and several other firms.
The series brings the company up to $225 million raised since it was founded in 2017. As part of the raise, ZhenGe named Kevin Xu, a managing director at Goldman Sachs Asset Management, to its board.
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