Chinese investors showed more support for young startups in May 2022 as four of them raised over RMB100 million each in early financing rounds, while late-stage drugmakers found fundraising more challenging than ever. Financing activity in May was also the weakest this year, with the least deals and lowest amount.
A drugmaker specializing in medicines for children raising nearly $15.7 million in April 2022 shows a shifting interest toward this area. Early-stage biotech companies also made up 18 of the 27 financing deals.
As China battles its worst COVID outbreak, investors have turned their attentions to RNA-based therapies again. But this time, companies are flogging their platform technologies rather than specific programs.
Cell therapy and gene therapy companies extended a trend from the second half of 2021 by making up 11 of the 21 financing deals in February. PharmaDJ expects this trend to continue throughout the year.
Chinese investors continued to show an interest in innovative drugmakers in the New Year with 41 closing a financing round in January. Companies developing cell and gene therapies were at the forefront, receiving 29% of all disclosed funding.
Several big series A financing in December warrant attention, as they speak of a wider trend for drug innovation in China. Big pharmaceutical companies are sharing risks, and scientists are creating a mRNA platform.
Chinese drugmakers raised $1.26 billion in 28 financing rounds in November, representing the third highest amount of funds raised this year. This was mainly attributed to mRNA vaccine maker Abogen Biosciences’ $300 million series C+ round and CNS specialist Ignis Therapeutics’ $180 million series A round.
Chinese drugmakers closed 33 financing rounds in September, raising over $1.05 billion. Oncolytic virus therapies developer Virogin Biotech and two CAR-T therapy developers were the biggest fundraisers.