Largest pharma financing: Everest Medicines received $310 million

Everest Medicines announced that it has received $ 310 million in Series C financing.
This can be said to be the largest primary market transaction in the history of China’s biotechnology sector.
This round of financing of US$310 million includes two parts of preferred stock financing, US$260 million in C-2 and US$50 million in C-1.

Everest Medicines announced that it has received $ 310 million in Series C financing.

This can be said to be the largest primary market transaction in the history of China’s biotechnology sector.

This round of financing of US$310 million includes two parts of preferred stock financing, US$260 million in C-2 and US$50 million in C-1.

Round C2 was led by Janchor Partners, jointly led by RA Capital Management and Hillhouse Capital Group.

Decheng Capital, CNIC Corporation, Janus Henderson Investors, Rock Springs Capital, Octagon Investments and a large long-term institutional investor, as well as existing investors C-Bridge Capital), Cormorant, Pavilion Capital and HBM Healthcare Investments also participated in this round of financing.

The C-1 round of financing is a US$50 million investment from Jiashan County State-owned Assets Investment, which is a part of the broad strategic cooperation announced by Everest Medicines in March 2020 with Jiashan National Economic and Technological Development Zone and Jiashan State Investment.

China eCapital Corporation acted as the exclusive financial advisor in this round of financing transactions for Everest Medicines.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/largest-pharma-financing-everest-medicines-received-310-million/.

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