The bio­phar­ma fund­ing en­gine mo­tors on, as Chi­nese biotech rais­es near­ly $280M in mon­ster round

We have more ev­i­dence to­day that the ap­petite for bio­phar­ma fi­nanc­ing is alive and kick­ing, the coro­n­avirus pan­dem­ic be damned.

Re­ports emerged on Wednes­day that Shang­hai-based Mab­well Biotech has raised a mam­moth $278.5 mil­lion in a Se­ries A in­jec­tion, led by Chi­nese ven­ture cap­i­tal firm Shiyu Cap­i­tal.

Mab­well, es­tab­lished in 2017, de­vel­ops mon­o­clon­al an­ti­bod­ies and long-act­ing re­com­bi­nant pro­teins, among oth­er drugs, and is ex­pect­ed to de­but its first drug on the mar­ket this year. The com­pa­ny has al­so launched sev­en sub­sidiaries fo­cused on R&D and the pro­duc­tion of bio­med­ical prod­ucts.

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