To enhance R&D capabilities and accelerate clinical trials globally
SHANGHAI, June 6, 2018 /PRNewswire/ -- Dedicated to developing global antibody and recombinant protein biotherapeutics, Hangzhou Just Biotherapeutics (HJB) announced today the completion of a $35 million Series B+ financing round.
Hillhouse Capital (Hillhouse), a Beijing and Hong Kong-based investment firm, leads this financing, with participation by existing investors Temasek, Lilly Asia Ventures (LAV), ARCH Venture Partners, Taikang and BOCGI Zheshang Capital. Including this round, HJB has raised over $120 million in financing so far.
Since last year HJB has focused predominantly in 3 areas: The completion of the R&D Center and Manufacturing Facility located in Hangzhou, establishing its R&D and clinical development capabilities and building a world-class team by attracting top talent around the world.
"We have achieved remarkable milestones in a short time, but we need to continue the strong momentum to build on our successes. With this additional investment, we will be able to ramp up our clinical R&D capabilities globally, and boost our pipeline by engaging in broader partnerships. We are now on our way to beginning global clinical trials for several of our assets," said Dr. Yining ZHAO, founder and CEO of HJB.
As the lead investor, Hillhouse Capital said, "Innovative medicine has great market growth potential because it can truly create value for society, serving patients in and outside China. Hillhouse has always valued medical research and innovation. We appreciate HJB's capabilities and promising future in the field of bio-pharmaceutical research and development and are willing to support the firm's long-term growth using the principles and methods of value investing."
HJB was originally founded in 2016 by former Amgen and Genentech executives in Hangzhou, China. HJB has partnered with Seattle-based Just Biotherapeutics Inc. to develop and apply state-of-the-art biomanufacturing and process development platform enabling the development and manufacture of antibody and recombinant proteins at a reduced cost and accelerated speed while maintaining global quality standards. HJB's pipeline currently consists of assets in areas of high-unmet need including oncologic, genetic rare diseases and metabolic diseases. HJB employs a team of nearly one hundred scientists and engineers at its sites in Hangzhou and Boston, and is led by seasoned executives from MNCs.
About Hillhouse Capital
Hillhouse Capital Group (Hillhouse) is a company dedicated to long-term value investing. Founded by Lei Zhang in 2005, it has grown to be China's biggest private equity investment company. Hillhouse focuses on the healthcare, consumer, TMT, advanced manufacturing, finance and corporate services sectors, and has invested in many household names in China including Tencent, Baidu, JD.com, Midea, Blue Moon, Belle International and Nio. Bio-pharmaceuticals and healthcare has always been one of our most important areas of investment. Aiming to be a long-term partner with companies developing innovative medicine, Hillhouse has invested in and supported a number of medical enterprises, including Wuxi Apptec, BeiGene, Gan & Lee Pharmaceuticals, Shanghai Junshi Biosciences, Innovent Biologics and Zhejiang Hisun Pharmaceutical. In Europe and the United States, we have invested in Moderna, Viela, Kiniksa, Apellis and Arcus, among other dozens of biotechnology and pharmaceutical companies.
For more information, please visit www.hillhousecap.com
About Hangzhou Just Biotherapeutics
Hangzhou Just Biotherapeutics (HJB) is a biotherapeutics platform company, with a focus on developing innovative therapies in three areas of high unmet need: oncologic, genetic rare diseases and metabolic diseases. With deep experience in the fields of protein, process and manufacturing sciences, the HJB team aims to address the scientific and technical hurdles that block access to life-changing protein therapeutics, and deliver lasting value in the global marketplace.
For more information about HJB, please visit http://www.justbiochina.com/en/
SOURCE Hangzhou Just Biotherapeutics, Ltd.