Goldman Sachs Asset Management and Sofina led a $100m Series C funding round in ZhenGe Biotech.

Goldman Sachs Asset Management, an investment manager, and Sofina, a private equity firm, led a $100m Series C funding round in ZhenGe Biotech, a provider of contract development and manufacturing services for pharmaceutical enterprises. Additional investors include Novo Holdings, Qiming Venture, IDG Capital, LYFE Capital, Junxin Capital and Cowin Capital. The proceeds from Round C will be used to strengthen ZhenGe Biotech’s global R&D capabilities and expand its good manufacturing practice manufacturing capacity to better meet demand from domestic and international clients. “We are excited to have global investors like Goldman Sachs Asset Management, Sofina and Novo Holdings lead the current round of financing, and we thank them for their support. Round C proceeds will be used to strengthen our R&D and build multiple 15,000L production lines, which will enable ZhenGe Biotech to deliver cost-effective and high-quality solutions for meeting growing demand from existing and new customers," Jianxin Chen, ZhenGe Biotech Chairman and CEO.