Chengdu Maxvax Biotechnology LLC. (hereinafter referred to as “Maxvax”) recently announced the completion of its Series C+ financing round, raising over 300 million CNY. This round of financing was led by IDG Capital, followed by HanKang Capital and Qianhai Ark Asset Management. So far in 2024, the company has completed both Series C and C+ rounds of financing totaling over 600 million CNY. The funds raised in this round will primarily be used for the Phase III clinical trial of the company’s recombinant herpes zoster (Shingles) vaccine, the Phase I and Phase II clinical studies of its recombinant respiratory syncytial virus (RSV) vaccine, and pre-clinical research of other vaccine pipelines.

Dr. Dexiang Chen, founder of Maxvax, stated, “We are very excited to have IDG Capital, HanKang Capital and Qianhai Ark as our new shareholders and grateful to our existing shareholders for their long-term support. With remarkable potential social value and market prospects, as well as the creativity of our employees, Maxvax has been able to receive funding from China’s first-tier investment institutions while domestic ventures have been slowing down their investment.  Our company will utilize the funds raised in this round to increase R&D investment and accelerate the clinical research of the Shingles and RSV vaccines. We aim to achieve industrialization in the next 2 to 3 years.”

About IDG

IDG Capital is a world-leading private equity investment institution that has been a pioneer in the venture capital space in China since 1993. For years, IDG Capital consistently pursues long-term value investments and maintains close relationships with diversified partners from all over the world.  IDG Capital focuses on leading companies in the fields of health, technology, advanced manufacturing, new energy, and consumerism, with investments covering all stages of a company’s growth.

About HanKang Capital

Hankang Capital is a venture capital fund focusing on the pharmaceutical and healthcare industries. With the mission of “empowering pharmaceutical innovation and safeguarding human health”, HanKang Capital partners with leading scientists and entrepreneurs to develop breakthrough drugs for the treatment of major ailments. Based in China and with a global perspective, HanKang Capital has invested in a number of companies that have grown into industry leaders, such as Akeso (Stock Code: 09926 HK), Nuocheng Jianhua (Stock Code: 09969 HK, 688428 SH), Keymed Biosciences Inc. (Stock Code: 02162 HK), Chipscreen Biosciences (Stock Code: 688321 SH), Abbisko Therapeutics (Stock Code: 02256 HK), and OPM Biosciences (Stock Code: 688293 SH).

About Qianhai Ark

Established in 2015, Qianhai Ark Asset Management is a private equity firm that focuses on venture capital opportunities. It invests in a diverse range of industries including business services, consumer products, financial services, manufacturing, retail, and technology industries in China. Qianhai Ark is based in Shenzhen and has branches in Beijing, Shanghai, Zhengzhou, and Qingdao with over $70 billion of assets under management covering the three most active economic zones in China, namely the Greater Bay Area, Yangtze River Delta, and the Bohai Economic Rim.

About Maxvax

Since its founding, Maxvax has been committed to developing immunotherapies to combat current and emerging global health threats, and it will continue to address the challenges of global public health and provide solutions for the prevention and control of infectious diseases. Relying on its leading innovative R&D ability and strong commercial production capacity, Maxvax is growing fast, and has completed C+ round of financing, with a total of nearly 2 billion RMB funds raised so far.

Focusing on the R&D, production and commercialization of innovative human and veterinary (including pet) vaccines, Maxvax has built a series of major innovative vaccine pipelines based on in-house novel adjuvants, recombinant proteins platforms and immunity evaluation platforms. Maxvax has nearly 20 types of adjuvant raw materials, has created 3 types of delivery systems, and has developed more than 10 adjuvant formulations. In the field of human vaccines, Maxvax has laid out a diversified product development pipeline, including preventative and therapeutic vaccines for major infectious diseases and cancers.  To accelerate the process of industrialization of new adjuvants and human vaccines, Maxvax completed construction of a commercial vaccine manufacturing facility in 2023 and has laid out plans to increase manufacturing capability in the near future.