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JHL Biotech lands USD35m series B funding.

MANews-(C)2009-2014

20 June 2014 - Taiwanese emerging biopharmaceuticals company JHL Biotech Inc said it had completed a USD35m (EUR26m) series B financing round led by UK private equity firm Milestone Capital Partners LLP and a consortium of Taiwan investors and existing Series A shareholders.

The consortium included President International Development Corp, Fubon Financial Holding Co Ltd (TPE:2881), Taishin Financial Holding Co Ltd (TPE:2887), TaiAn Technologies, Hotung Investment Holdings Ltd (SGX:NT1), Allen Chao, founder of Watson Pharmaceuticals, and series A shareholders China Development Industrial Bank, Biomark Capital and Kleiner Perkins Caufield & Byers.

JHL, which specialises in bioengineering and innovative product development technologies, will use the proceeds from the funding round to develop its proprietary biosimilar monoclonal antibody pipeline and step up its filing of investigational new drug applications. The company also intends to support its ongoing facility expansion in Taiwan and to buy additional equipment for its commercial production base in Wuhan, China, which is seen to be completed by the end of the year, it further explained.

Country: Taiwan

Sector: Biotechnology

Target: JHL Biotech Inc

Buyer: President International Development Corp, Biomark Capital , Taishin Financial Holding Co Ltd , Milestone Capital Partners LLP , TaiAn Technologies, Allen Chao, Hotung Investment Holdings Ltd , Fubon Financial Holding Co Ltd, Kleiner Perkins Caufield & Byers, China Development Industrial Bank

Deal size in USD: 35m

Type: VC

Status: Closed

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Publication:M & A Navigator
Geographic Code:9TAIW
Date:Jun 20, 2014
Words:225
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