Drug Farm raises $55M in Series D first tranche
What's the deal? Drug Farm has closed the first tranche of a $55 million Series D round. Shanghai Pudong Leading Area Investment Center and Shanghai Puxing Collaborative Private Equity Fund Partnership co-led the deal.
Who else is in? Zhikai Capital Fuzhou Xinhe Fund, Shenzhen Luohu Donghai Ruizhi Pharmaceutical Industry Investment Partnership, and Keyuan PharmaceuticalDealroom has a profile for this one. Try Dealroom → joined as new backers. Existing investors — including Bio Veda China Fund (BVCF)Dealroom has a profile for this one. Try Dealroom →, YD CapitalDealroom has a profile for this one. Try Dealroom →, Jiashan State InvestmentDealroom has a profile for this one. Try Dealroom →, DT Capital PartnersDealroom has a profile for this one. Try Dealroom →, Weidu CapitalDealroom has a profile for this one. Try Dealroom →, and BiometasDealroom has a profile for this one. Try Dealroom → — also returned.
What's the money for? Drug Farm will use the proceeds to advance its clinical and preclinical pipeline and accelerate global clinical development. It also plans to strengthen regulatory work in key markets and expand its research capabilities.
The signal: The $55 million raise ranks in the top half of comparable rounds by size, a solid marker for a biotech drawing both state-backed and specialist investors. Continued participation from existing backers points to sustained confidence in the company's drug pipeline.
Read more: Jiemian
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