Shanghai biotech upstart raises $50M, bags antibody discovery group and ramps up Boston unit
A new Shanghai-based biotech upstart is taking part of its $50 million A round to acquire an antibody discovery outfit in Rotterdam while blueprinting plans to jumpstart a research site in the Boston area.
The Chinese company is Harbour BioMed, run by Sanofi R&D vet Jingsong Wang and Liang Schweizer. They are buying Harbour Antibodies, a spinout of Erasmus University which has been doing a series of deals using its transgenic mouse models to discover new antibodies. And they are being financed by Advantech Capital and Legend Capital, two increasingly prominent China-based life sciences investors.
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