DeHeng Advised Huagai Capital on the Nearly 100-Million-RMB

Pre-B Round Financing of Qide Medical Technology

2019-05-14

Recently, Qide Medical Technology (Suzhou) Co., Ltd. announced the completion of Pre-B round financing, raising nearly 100 million yuan. The investment was led by Huagai Capital which was followed by Huafang Capital and Changjin Boya, with additional investment from A-round investors Oriza Yuandian Venture Capital Management and TF Capital. The money raised will be used for the global clinical development of the new-generation ADC drugs, as well as the R&D and rapid distribution of a series of differentiated innovative technologies and products. 

Using the proprietary original LDC technology and the world-advanced iLDC platform, Qide focuses on the R&D of various types of innovative bio-coupled drugs. Its iLDC platform adopts the intelligent continuous coupling process catalyzed by biological enzyme, and has successfully realized the trial production of the new-generation highly homogeneous ADC drugs, with remarkable improvement in quality and substantial reduction in cost. Unlike the existing batch production mode of chemical coupling, this platform can be widely applied to automatic and continuous production of various bio-coupling drugs represented by ADC drugs. Based on this platform, Qide has carried out R&D cooperation with many enterprises for various types of innovative bio-coupled drugs. 

Huagai Medical Fund is an equity investment fund that focuses on the medical and health industry, in particular on such fields as bio-medicine, medical apparatus and medical services. It specializes in mergers and consolidations in the medical and health industry and early and medium-stage investment in fast-growing high-tech enterprises. With accumulative assets worth billions of yuan under management, the fund is jointly funded by more than 30 listed medical and health companies, several large financial and insurance institutions, parent funds and government guidance funds. Its lead investor Huagai Capital which was established in 2012 has under it several equity investment funds, including the medical and health fund, the TMT fund, and the culture fund. The under-management assets of Huagai Capital exceeds 10 billion yuan. 

Boasting rich experience in private equity investment, DeHeng was selected as the legal consultant for Huagai Capital. The DeHeng team led by Hou Zhiwei, Partner of the Beijing Office, with primary support from Partner Zhang Yan, Attorney Zhu Peiyuan, Attorney Hu Xueyuan and Attorney Liang Hanxiong, provided comprehensive legal support for the whole process including due diligence, negotiations, signing and delivery of transaction documents.