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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