Forget the biotech mega-round. Try the $200M-plus China 'ultra' on for size
Shanghai-based I-Mab Biopharma is helping to recalculate what the word “big’ means in biotech venture rounds. And it’s not $100 million.
The biotech has raised $220 million in what it says is the largest C round ever for a Chinese biotech. And the bulk of the money for this ultra-round is coming from some home-grown funds in China that have been spawning a slate of new ventures that are aiming at the virtual overnight creation of fully integrated biopharma companies, from research soup to commercial nuts.
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