HANGZHOU, China, Aug. 8, 2017 Hangzhou Just Biotherapeutics (Just China), a Hangzhou, China-based developer of global antibody and recombinant protein biotherapeutics, raised $57M (around ¥400M RMB) in Series B financing. the company intends to use the funds to further advance biologics development and clinical trials.
The round was led by Temasek, followed by existing investors Lilly Asia Ventures (LAV) and ARCH Venture Partners as well as new investors Taikang, Hangzhou Economic & Technological Development Area (HEDA Ventures), Bank of China (BOC) and Bank of Hangzhou. HEDA Ventures’s RMB fund joined last round (Series A) and help the Seattle company move a lot smoother in China.
Led by Dr. Yining Zhao, Co-founder and CEO, Just China leverages knowledge in the fields of protein, process and manufacturing sciences to solve the scientific and technical hurdles that block access to life changing protein therapeutics. This ranges from the design of therapeutic molecules to the design of the manufacturing plants used to produce them.
Just has already established clinical development and CMC capabilities with a pipeline consisting of both bionovel and biosimilar products., and everal programs will start to enter clinical stage in 2018.
Dr. Zhao stated that Just aims to design and apply innovative technologies to dramatically expand global access to biotherapeutics. He appreciates the support from all series A investors including Lilly Asian Ventures and other institutional investors. Dr. Zhao said “China's biopharmaceutical industry has entered into a new era, we wish our next product will leverage Just’s integrated design approach, where our technology can make the greatest impact in the world.
About Just Biotherapeutics Inc.
Just China was founded in February 2016 as a joint venture with Just Biotherapeutics, Inc. (Just), located in Seattle, Washington, USA. As an affiliate, it will have access to Just’s integrated technology platform, J.DESIGN, and will closely partner with Just to evolve the platform. Applying J.DESIGN technology to molecule, process, product, manufacturing and plant design will enable the company to develop biologics while accelerating the development process and substantially reducing manufacturing cost.
So far, Just employs over 100 scientist and bio-engineers all over the world, where two of them were selected as the national “Thousand Talents Plan” experts in China. The Chinese R&D office is currently located in the Hangzhou Economic Development Area’s tech part accelerator, followed by a new production center opening at the same building by the end of this year and put into production in 1Q2018. All products are consistently produced and controlled according to US GMP quality standards. The company has completed clinical development and production system, several new products will be rolled out early next year.
About HEDA Ventures
HEDA Ventures is an early stage venture capital firm focused on accelerating disruptive innovations and trends in enterprise sectors. Our US dollar fund currently has over $150 million in AUM. We focus on innovative high-tech industries showing fast growth rates, including Biotech and frontier technologies. We are committed to helping entrepreneurs and startups build world-changing businesses, with the potential to create new market opportunities and change the world.
Temasek is an investment company headquartered in Singapore. Supported by 10 offices internationally, Temasek owns a S$275 billion portfolio as at 31 March 2017, mainly in Singapore and the rest of Asia. The company covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources.