Kailaiying Bio raises US$170.5M to grow biologics CDMO arm
What's the deal? Shanghai Kailaiying Biotechnology Development has raised US$170.5M in a growth equity round, its parent company announced in July 2026. The cash injection values the biologics contract developer at roughly US$583M post-money.
Who's backing it? Asymchem Pharmaceutical Group (Kailaiying)Dealroom has a profile for this one. Try Dealroom → led with US$144.4M. Hillhouse Capital vehicle Suzhou Gaoling QiruiDealroom has a profile for this one. Try Dealroom → contributed US$24.3M, and chairman Dr. Hong Hao added US$1.75M of his own money.
What's the endgame? Kailaiying Bio is the group's contract development and manufacturing (CDMO) unit. It offers services spanning large-molecule drugs, antibody-drug conjugates, cell and gene therapies, and mRNA drugs.
Why now? The round marks a pre-money valuation of US$412.5M, stepping up to about US$583M after the investment. Backing from its parent and Hillhouse consolidates capital behind a fast-moving corner of the drug outsourcing market.
The signal: The deal underscores continued investor appetite for China's biologics CDMO capacity, particularly in advanced areas such as cell and gene therapy and mRNA.
Image credit: Generated with Gemini
