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Biopharma firm Transcenta raises US$100M in financing round

Chinese biopharmaceutical firm Transcenta Holding Ltd. raised US$100 million in a series B+ financing round.

New investors CR-CP Life Sciences Fund, Fortune Venture Capital Co. Ltd., Epiphron Capital, CCT China Merchant Buyout Fund, and China Equity Group participated in the round alongside existing shareholders Lilly Asia Ventures, Temasek, Hillhouse Capital, Teng Yue Partners LP, Sequoia Capital China, and Arch Venture Partners LP.

Transcenta was formed in January 2019 following the merger between MabSpace Biosciences in Hong Kong and HJB, which has sites in China and the U.S.