Jinbo lands $150M from Yangshengtang amid collagen slowdown
What's the deal? Chinese biotech JinboDealroom has a profile for this one. Try Dealroom → has completed a US$137.5M (roughly $150 million) private placement, selling 3,607,243 shares at US$38.1 each to Yangshengtang Co., Ltd. The deal closed in October 2026, with net proceeds of about US$136M after fees.
What's the endgame? All of the money will fund Jinbo's humanised collagen FAST database and product development platform, a project with total investment of about US$173.3M. Jinbo makes high-end implantable medical devices built on recombinant humanised type A collagen.
Who's backing it? Yangshengtang is controlled by Zhong Shanshan and acts in concert with Jinbo's second-largest shareholder. After the placement, Zhong's entities hold 7.89% of Jinbo; top shareholder Yang Xia retains 52.26%, so control does not change. The shares are locked up for 36 months.
Why now? The raise is half the size originally planned, with the working-capital portion dropped — Jinbo said the project is progressing quickly and its liquidity is ample. Yangshengtang has also pledged to buy at least US$137.5M more of Jinbo stock on the open market within 18 months, donating any shortfall to the project.
The numbers: Jinbo's momentum has cooled. First-half 2026 revenue fell 10.2% year on year to about US$106M, while net profit attributable to shareholders dropped 28.2% to roughly US$38.6M.
The signal: Competition in collagen is intensifying — rival Giant Biogene saw first-half revenue and profit fall 6.3% and 20.5%, and reports point to more approved injectables and price cuts. Yangshengtang's backing is a long-term bet on Jinbo's technology; whether the spending yields differentiated products remains the open question.
Read more: jiemian.com
Image credit: Jinbo
