Series C financing brings total capital raised in the last 12 months to over US$ 400 million (>RMB 2.5 billion)
The proceeds will support the continued development and expansion of Clover's pipeline of protein-based vaccines and biologic cancer therapies
CHENGDU, China, Feb. 22, 2021 /PRNewswire/ -- Clover Biopharmaceuticals, a global clinical-stage biotechnology company developing transformative biologics as vaccines and therapeutics for the world's most debilitating diseases, today announced the completion of an oversubscribed $230 million Series C financing. This financing round brings Clover's total capital raised in the last 12 months to over $400 million (over RMB 2.5 billion). The Series C round was co-led by GL Ventures and Temasek, with participation from Oceanpine Capital, OrbiMed and existing investor Delos Capital.
GL Ventures focuses on early-stage innovative companies in healthcare, software services, consumer Internet, emerging consumer brands and services. The GL Ventures team is passionate about partnering with visionary entrepreneurs to create industry leaders that stand the test of time. GL Ventures is the early stage affiliate of Hillhouse Capital, and we have been investing with innovators across the world since 2005. We were one of the earliest investors into some of the largest global companies today, including BeiGene, Zoom, Meituan, JD, Woowa Brothers and many more.
Temasek is an investment company with a net portfolio value of S$306 billion (RMB1.52t) as at 31 March 2020. Our three roles as an Investor, Institution and Steward, as defined in our Temasek Charter, shape our ethos to do well, do right and do good. Our investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. We actively seek sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. Headquartered in Singapore, we have 11 offices around the world. For more information on Temasek, please visit www.temasek.com.sg.