Recently, Chengdu Maxvax Biotechnology ("Maxvax Biotech") announced that it has raised nearly RMB 500 million (approx. $74 million) from a Series B funding led by China Life Equity Investment and participated by the original shareholders Sherpa Healthcare Partners and GL Ventures, with follow-up investments from two new investors, Shizhen Capital and Xinshang Capital. The fund will mainly be used for the clinical trials of the company’s multiple vaccine pipelines, the construction of its Shanghai production base, and the expansion and improvement of its talent team.

Maxvax Biotech is a biotechnology company that specializes in the R&D of innovative vaccines and new adjuvants, with a leading platform in innovative adjuvant technology and recombinant protein expression. Maxvax Biotech's human vaccine candidate pipeline includes both preventive and therapeutic vaccines. Preventive vaccines include important infectious diseases that cause a significant disease burden globally, while therapeutic vaccines include infectious diseases, cancer, and allergies. The company has already established more than ten innovative vaccine pipelines, two of which are in the clinical stage. It is expected that two to three innovative vaccine products will obtain IND approval next year. The company has also made significant progress in the upstream raw materials and innovative R&D of animal vaccines.

Dr. Dexiang Chen, Founder and General Manager of Maxvax Biotech

"This round of funding will assist Maxvax Biotech in the clinical trials and industrializing key products. It demonstrates that the shareholders have a high opinion of our team and technology. We really appreciate the recognition and support ofrom China Life Equity Investment, Sherpa Healthcare Partners, GL Ventures, Shizhen Capital, and Xinshang Capital. Maxvax Biotech will be continuously committed to developing better vaccines made in China," said Dr. Dexiang Chen, founder and general manager of Maxvax Biotech.

Leidi Zhang, Head of China Life Equity Investment

"In recent years, China's vaccine industry has seen fast development. With better immune protection efficacy, higher safety, and higher quality control standards, innovative vaccines are expected to lead the industry, and Maxvax Biotech focuses on the R&D, production, and sales of innovative vaccines. The company has established world-leading platforms in new adjuvants and recombinant protein vaccines, and established R&D pipelines with commercialization prospects. The company's core team has both international resources and vision and experience in mass production. We highly appreciate the value of the company and its products, and hope to accompany the company in its strong growth, so we can work together to better meet people's growing needs for disease prevention and control," said Ms. Leidi Zhang, head of China Life Equity Investment.

About China Life Equity Investment

China Life Private Equity Investment is a professional private equity investment platform under China Life, China’s top insurance company. Adhering to the investment concept of "Invest for future, innovation, and value", China Life Equity Investment gives full play to its professional advantages in the area of insurance funds and inherits China Life's social responsibility in serving the national strategy and supporting the real economy.

China Life Great Health Fund, initiated by China Life Equity Investment, is a leading flagship investment fund in China focusing on the medical and health industry. Since its establishment, China Life Great Health Fund has widely invested in life science, medical technology, medical services, digital healthcare, and other fields, and a number of leading enterprises in China's medical and health industry have benefited from its investment.

About Sherpa Investment

Sherpa Investment was founded in 2018. Its founder used to work with well-known venture capital firms in China. In 2011, he set up the firm's medical investment team working on medical investment and the management of medical funds. Since then, it has become an influential venture capital firm in China's medical and health industry, and has invested in many leading enterprises in key fields such as life science, medicine, equipment diagnosis, and medical services. From 2011 to 2021, the investment team has gone through four fund years and more than 120 medical projects, growing stronger and more mature with other leading enterprises in the industry.

About GL Ventures

GL Ventures is a venture capital platform under Hillhouse focusing on investing early-stage innovative companies, covering key areas such as hard technology, software, biotechnology, new materials, emerging brands, and consumer technology. GL Ventures seeks all entrepreneurs who love technology and believe in innovation. It aspires to become the first call when innovative entrepreneurs need financing, and also looks forward to long-term cooperation with them.

About Shizhen Investment

Founded in 2021, Shizhen Investment is an investment fund concentrating on biomedicine. The company’s team has rich and outstanding investment experience in innovative drugs, biotechnology, innovative medical devices, and medical services. Since its establishment, Shizhen has invested in many leading enterprises in the pharmaceutical industry, always adhering to the concept of "growing together with entrepreneurs and creating real value for enterprises". The company is enthusiastic about game-changing technologies and products that could revolutionize the clinical practice. It aims to create great products and promote the development of medical treatment together with ambitious entrepreneurs.

About Wuxi Xinshang Capital

Wuxi Xinshang Capital is a professional financial equity business platform under Taihu New City Group. Adhering to the dual drive of industrial and financial investment, it strives to build five major business sectors: venture capital, industrial investment, FOF investment, investment banking, and debt investment, thereby forming a business system covering Angel Investing, VC, PE, FOF, and asset management. The company's Senior Care Team focuses on major healthcare fields such as innovative drugs, medical devices, medical services, and smart senior care.