Shanghai, February 11, 2019 /PRNewswire/ -- Shanghai HaiHe Biopharma Co., Ltd. (hereinafter referred to as "HaiHe Biopharma"), which focuses on the discovery, development and commercialization of innovative drugs for cancer, announced today that it has reached $146.6 million financing agreement. This round of financing was led by Huagai Capital, and Yingke PE, CSPC, Hillhouse Capital, Chinese Academy of Sciences Venture Capital, Atlas Capital, Boyuan Capital, Elite Capital, and Daehwa Pharmaceutical participated. The funds raised will be used primarily to accelerate the R&D of the company's innovative anti-cancer drugs in clinical and preclinical stages.

“I am very grateful to have so many powerful and professional investors escorting us on the road of new drug innovation. They are top investment institutions with a keen sense of innovation and market, strong investment leaders in the pharmaceutical industry, and trusted partners with solid collaborating foundation. We believe that this round of financing will be certainly a booster to HaiHe’s momentum of innovative drug R&D. Driven by science, we will benefit cancer patients as soon as possible and create value for society.”

“We are much honored to work with HaiHe Biopharma. Huagai has long been concerned about HaiHe Biopharma. The founder and management team of HaiHe is a strong combination of early discovery, clinical development and commercialization of new drugs, and has solid original innovation capability. In the past year, HaiHe Biopharma has obtained more than a dozen clinical trials approvals, and has made major breakthroughs in tumor target layout and clinical project advancement. We are very optimistic about this experienced team with strong execution and great development potential. We are also grateful to other investors for joining us, and we hope that a strong and rich portfolio can work together to help the long-term development of HaiHe Biopharma.”

“We are very happy to be involved in this round of financing for HaiHe. HaiHe has robust R&D pipelines and a first-class core team. Its oral paclitaxel, diabetic foot treatment drug, small molecule targeted drugs and chemotherapy drugs are very competitive products. With the support of domestic policies for innovative medicine industry, medical insurance coverage and expansion of the catalogue, there will be extremely impressive market space and huge growth potential for HaiHe’s products. Yingke Capital is willing to join hands with other investors, and work together with HaiHe to contribute to the development of human health.”

Haihe Biopharma is an innovation-driven biotechnology company in China focusing on the discovery, development, production and commercialization of innovative anti-tumor drugs. Haihe brings life-saving therapies to cancer patients worldwide. It also has a research and management team with a global perspective, and is proactively mapping out the international development of innovative drugs. The Company currently has thirteen key drug candidates. As of today, Haihe Biopharma has received 21 IND or clinical trial approvals in four countries and regions. 

Founded in 2012, Huagai Capital is a private equity investment institution jointly established by a group of professionals from well-known domestic and foreign investment institutions. The company is committed to “becoming an internationally influential local asset management institution”, and focuses on the private equity investment business of China market to promote the growth of Chinese SMEs into industry leaders. At present, it manages a number of equity investment funds such as medical health funds, TMT funds, cultural funds, etc., with asset management scale over 10 billion RMB.

Please visit the company website for more information: www.huagaicapital.com

Founded in 2010, Yingke Innovation Asset Management Co., Ltd. (“Yingke Capital”) is a professional organization focusing on equity investment. In 2014, it became the first filing agency of Foundation Management Association of China. In 2015, four listed companies (or real controllers/shareholders) such as TigerMed (300347) became the cornerstone investors of Yingke Capital. In 2017, a financial institution and three state-owned companies were introduced to become the cornerstone investors of the company, which further laid the foundation for the company to build a first-class investment bank.

Please visit the company website for more information: http://www.yingkepe.com/

China Shijiazhuang Pharmaceutical Group Co., Ltd. (CSPC) is one of the leading companies in China's pharmaceutical industry. The listed company in Hong Kong (01093.HK) is a constituent stock of the Hong Kong Hang Seng Index and the first pharmaceutical stock in the 50-year history of the Hang Seng Index. CSPC is principally engaged in the development, manufacture and marketing of pharmaceutical products. The products mainly include seven series of nearly 1,000 varieties including cardiovascular and cerebrovascular, antibiotics, vitamins, antipyretic and analgesic, digestive system drugs and anti-tumor drugs. The products are sold all over the country and the world with more than 60 countries and regions.

Please visit the company website for more information: http://www.e-cspc.com

Hillhouse Capital focuses on long-term structural value investment. It was founded in 2005 by Mr. Zhang Lei. After more than ten years of development, it has become one of the largest investment institutions in Asia. The investment of Hillhouse Capital covers medical health, consumer retail, TMT, finance and corporate services. Representative investment cases include Tencent, Baidu, Jingdong, Midea, Blue Moon, Belle International and NIO Automobile. Biomedicine and medical health have always been the key investment directions of Hillhouse. The biomedical industry investment team of China and the United States has been established very early, and aim to be long-term investors of innovative drug R&D companies. We have supported dozens of biopharmaceutical companies in the United States and Europe represented by Arcus, Beam, BridgeBio, Gossamer Bio, Kiniksa, NextCure and Viela; many excellent domestic biopharmaceutical companies represented by BeiGene, WuXi AppTech, Junshi Bioscience, Innovent Biologics and Gan& Lee Pharmaceutical, etc.

Please visit the company website for more information: www.hillhousecap.com

The Chinese Academy of Sciences Venture Capital Management Co., Ltd. (CASVC) was established in accordance with the decision-making arrangements of the Party Group of the Chinese Academy of Sciences and was initiated by the Chinese Academy of Sciences Holdings Limited as the main sponsor. As the first investment platform for the transformation of scientific and technological achievements of more than 100 research institutes and 3 well-known universities in the Chinese Academy of Sciences, the Chinese Academy of Sciences will continue to screen, cultivate and transform the scientific and technological achievements of the institutes of the Chinese Academy of Sciences and promote the industrialization of scientific and technological innovation.  CASVC adopts the master feeder fund system and focuses on investing in early-middle-term projects of cutting-edge technology. The main areas include information technology, artificial intelligence, life sciences, intelligent manufacturing and high-end equipment, chemicals and new materials, and new energy. The size of the management fund will reach more than 10 billion RMB.

Please visit the company website for more information: http://www.casvc.com/

Founded in 2010, Liansheng Ventures is a fund management company specializing in equity investments in the science and technology sector. The company has an excellent operation management team consisting of experienced professionals with decades of capital operation experience and experienced technology management professionals. Liansheng Ventures focused on the cultivation of science and technology companies in the national strategic emerging industries, and completed more than 40 investments in new materials, medical health, information technology, new energy and other fields, successfully incubating and cultivating several science and technology projects to grow into fine leading companies in different fields.

Boyuan Capital is a medical fund founded by well-known industry investors. It is a startup that focuses on early new products, new technologies and new models, as well as a professional medical fund focusing on domestic and foreign M&A and investment at middle-late stages. The fund investment is mainly engaged in equity investment in biomedicine, medical devices and equipment, medical services, medical IT, animal health and other companies in the medical and health related fields.

Based in Shanghai, China, Elite Capital is the only global independent third party investment fund company focusing on healthcare industry of cancer. With deep concentration on investment of healthcare industry of cancer and its supporting industry, it is the only independent investment fund company that builds ecological system in healthcare industry of cancer and precisely focuses on the whole medical industry chain including pharmacy, medical equipment, diagnosis, mobile health and medical care.

Please visit the company website for more information: http://www.oncocapital.com/

DAEHWA Pharmaceutical Co., Ltd., was established in the spirit of “providing society a more human-centered pharmaceutical business.” Its main goal is to improve National health and people’s life. Since its foundation in 1984, DAEHWA continuously seeks new paths for its business development with a consistent progress-oriented core-target.   With its own platform technologies, DAEHWA produces APIs and finished products. Liporaxel Solution, which is the result of DAEHWA’s 17-year study. The completed clinical studies proved its efficacy, safety and convenience. DAEHWA invests more than 10% of its sales into R&D, is a global company specialized in pharmaceutical products.

Please visit the company website for more information: http://www.dhpharm.co.kr