Hillhouse Capital to invest £176m in Genscript Biotech-backed Probio Cayman.

Hillhouse Capital, a global Asia-focused private equity firm, agreed to invest £176m in Genscript Biotech-backed Probio Cayman, an antibody drug discovery company. The proceeds from the investment are intended to be used to satisfy the capital expenditure and other general working capital needs in the operation of the main business of Probio Cayman. The capital would provide an additional source of funding for the plan to build up the good manufacturing practice manufacturing capacity and the research and development capabilities of Probio Cayman to develop its existing business.