Temasek Participates in Series C Round in Rec-Biotechnology
Posted on 06/14/2021
Rec-Biotechnology (RecBio) is a Chinese developer of genetically engineered vaccines (gene therapies). RecBio raised around 1 billion RMB in a Series C round that involved investors such as Hong Kong-based Lake Bleu Capital and Temasek Holdings. Chinese asset management company E Fund Management and private equity firm Boyu Capital participated in the Series C round, alongside existing shareholders such as Legend Capital, an investment unit of China’s Legend Holdings, healthcare fund LYFE Capital, and Sequoia Capital China. RecBio was established in 2012 as a merger between two Chinese biotech companies Jiangsu Rec-Biotechnology and Beijing Abzymo Biosciences.