Kailaiying Bio raises 1.24B yuan to grow biologics CDMO arm
What's the deal? Shanghai Kailaiying Biotechnology DevelopmentDealroom has a profile for this one. Try Dealroom → has raised 1.24 billion yuan (about $184 million) in a growth equity round, its parent company announced in July 2026. The cash injection values the biologics contract developer at roughly 4.24 billion yuan post-money.
Who's backing it? Asymchem Pharmaceutical Group (Kailaiying)Dealroom has a profile for this one. Try Dealroom → led with 1.05 billion yuan. Hillhouse Capital vehicle Suzhou Gaoling QiruiDealroom has a profile for this one. Try Dealroom → contributed 177 million yuan, and chairman Dr. Hong Hao added 12.7 million yuan 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 3 billion yuan, stepping up to about 4.24 billion yuan 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
