Temasek leads $57m round for China biotech firm

Existing investors Lilly Asia Ventures and Arch Venture Partners also invested, along with insurance and financial services conglomerate Taikang, Bank of China, Bank of Hangzhou, and Hangzhou Economic and Technological Development Area, according to a release. The new capital will be used to complete Just China's manufacturing and research facility, which is targeted to begin operations next year.

Just China was founded last year as the China affiliate of US-based Just Biotherapeutics, a developer of antibody and recombinant protein treatments that address a wide spectrum of diseases. The company has access to Just's integrated technology platform, which it uses to collaborate with the US parent on plant design and drug development. Currently Just China is developing several drug lines scheduled to enter clinical testing in 2018.

Temasek has made a number of investments in China's healthcare space. It took part in the privatization of contract R&D services provider WuXi Biologics in 2015 and jointly led a $75 million Series B round earlier this year for its subsidiary Wuxi NextCode. The group also committed $250 million last year to hospital operator Columbia Pacific Management for a joint venture in China.

China-focused Lilly Asia spun out from global pharmaceuticals firm Eli Lilly in 2011. Its investments in the country's pharmaceuticals space include Innovent Biologics and Shanghai-based EpimAb Biotherapeutics. Currently the firm is investing its third fund, which closed in April 2015 at $300 million.

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• Topics
• Greater China
• Healthcare
• Early-stage
• China
• Lilly Asia Ventures
• Temasek Holdings
• Pharmaceuticals