Private equity firm Shenzhen Shiyu Investment Management led a $278m Series A round for Mabwell BioScience, a biopharmaceutical firm. Oriental Fortune Capital, Loyal Valley Innovation Capital, Haitong Innovation Capital Management, Founder H Fund, Haurong Rongde Asset Management, Huajin Capital, Sincere Capital, Winfast Holding and other investors also participated in the new round. “The fundraising amount has exceeded our initial expectation. Under a critical time when the COVID-19 pandemic has swept across the world, we managed to obtain the trust from many professional institutional investors including Shiyu Capital, as well as funds with links to China’s Ministry of Finance, Ministry of Science and Technology, among other backgrounds," Liu Datao, Mabwell President.