Jan. 12 Quick Takes: Goldman, Sofina lead $100M round in Shanghai CDMO
Plus Pfizer partners with Dren on myeloid cell engagers and updates from Quris, PostEra, Fosun-Insilico
Shanghai ZhenGe Biotech Co. Ltd. will deploy its new $100 million series C round to build its global R&D capabilities and expand its GMP capacity to meet domestic and international demand for CDMO services spanning discovery, development and manufacture of biologics. Goldman Sachs Asset Management and Sofina led the round, which brought the Shanghai companies’ total money raised to $225 million. Also participating were Novo Holdings A/S, Qiming Venture Capital, IDG Capital, LYFE Capital, Junxin Capital and Cowin Capital. Led by Chairman and CEO Jianxin Chen, the company has facilities in Shanghai and Maryland.
Pfizer Inc. (NYSE:PFE) is continuing its run of early research deals involving innovative technology platforms through a partnership with Dren Bio Inc. to discover and develop myeloid cell engaging bispecific antibodies. Dren’s Targeted Myeloid Engager and Phagocytosis Platform uses a bispecific antibody to selectively engage macrophage – and reprogram the suppressive phenotype – to bring active immune cells to the cancer. Dren is eligible to receive up to more than $1 billion in total deal value including $25 million up front...