Financing Progress | MAXVAX Biotechnology has completed its Series C financing, with a total of over 600 million yuan raised in Series C funding

In June 2024, Chengdu MAXVAX Biotechnology Co., Ltd. (hereinafter referred to as "MAXVAX Biotechnology") announced that it had received over 300 million yuan in Series C financing. This round of financing is led by IDG Capital, with Han Kang Capital and Qianhai Ark as co investors. So far, Maikokang Biotechnology has completed Series C and C+financing within the first half of 2024, with a total amount exceeding 600 million yuan. The funds raised in this round will mainly be used to support the Phase III clinical trial of recombinant herpes zoster vaccine, Phase I and II clinical research of recombinant respiratory syncytial virus vaccine, and subsequent preclinical research and development of multiple innovative vaccine pipelines and international cooperation.

Chen Dexiang, founder of MAXVAX Biotechnology, said, "We warmly welcome IDG Capital, Hankang Capital, and Qianhai Fangzhou to become new shareholders of the company. We also thank the old shareholders for their long-term support and recognition of the company. In the current environment where venture capital institutions are collectively slowing down, Maikokang Biotechnology has been recognized by domestic first-line investment institutions and successfully completed the Series C financing, reflecting the potential social value and market prospects of the company's products under research, as well as the creativity and execution of all employees. The company will use the funds raised in this round to increase research and development investment, accelerate the clinical research of herpes zoster vaccines and respiratory syncytial virus vaccines, and strive to achieve industrialization in the next 2-3 years, making contributions to human health

IDG Capital

IDG Capital has been rooted in China since 1993 to conduct venture capital business and is one of the most active private equity fund managers in China. IDG Capital focuses on leading enterprises in the fields of big health, technology, advanced manufacturing and new energy, consumption, etc. Its investment scope covers various stages such as seed stage, early stage, growth stage, merger and acquisition stage, and asset management.

Hankang Capital

Hankang Capital is a venture capital fund focused on the pharmaceutical and health industry. The fund's mission is to empower pharmaceutical innovation and safeguard human health, working together with top scientists and entrepreneurs to develop breakthrough new drugs for the treatment of major diseases. Hankang Capital is based in China and has a global perspective. It has invested in several companies that have grown into industry leaders, such as Kangfang Biotechnology (09926. HK), Nuocheng Jianhua (09969. HK, 688428. SH), Kangnuo Biotechnology (02162. HK), Weixin Biotechnology (688321. SH), Heyu Pharmaceutical (02256. HK), and Opmer (688293. SH).

Qianhai Ark

Qianhai Ark Asset Management Co., Ltd. was established on November 12, 2015. It is one of the strongest comprehensive fund managers in China and the largest commercial parent fund manager in terms of managed funds. The company is headquartered in Shenzhen and has branch offices in Beijing, Shanghai, Zhengzhou, Qingdao, and other places. The funds under Qianhai Ark include comprehensive parent funds, regional funds, professional funds, and stage funds. The currently managed and soon to be established fund size is nearly 70 billion yuan, covering the three most active economic zones in China, namely the Greater Bay Area, Yangtze River Delta, and the Yellow Sea and Bohai Rim.

MAXVAX Biotechnology

MAXVAX Biotechnology will continue to uphold the values of "integrity first, outstanding innovation, cooperation without boundaries, and serving the world", and is committed to addressing global public health challenges and providing solutions for major diseases and infectious disease prevention and control. Relying on its leading innovation and research and development capabilities, as well as rapidly building commercial production capacity, MAXVAX Biotechnology is developing rapidly. Currently, it has completed a C+round of financing, with a cumulative financing amount of nearly 2 billion yuan.

MAXVAX Biotechnology focuses on the research, development, production, and commercialization of innovative vaccines for human and animal use (including pets). Based on internationally leading new adjuvants, recombinant protein platforms, and immune evaluation platforms, it has built a series of major innovative vaccine variety pipelines. We have nearly 20 types of adjuvant raw materials, developed 3 mature delivery systems, and developed more than 10 composite formulas, forming a vertical industrial chain from adjuvant raw material research and development, production to adjuvant formula development and application. MAXVAX Biotechnology has diversified its product development pipeline in the field of human vaccines, targeting infectious, allergic diseases, and tumors. This includes multiple preventive vaccines for major infectious diseases, as well as therapeutic vaccines for HPV infection, allergic diseases, cancer, and other fields. In order to promote the industrialization of new adjuvants and human vaccines, an innovative vaccine production platform has been established and the construction of an industrialization base has been launched.