HaiHe raises $147M in series B to advance cancer candidates

Shanghai HaiHe Biopharma Co. Ltd. (Shanghai, China) raised $146.6 million on Feb. 11 to advance its oncology focused pipeline in a series B round led by Huagai Capital. Also participating were Yingke PE, CSPC Pharmaceutical Group Ltd., Hillhouse Capital, Chinese Academy of Sciences Venture Capital, Atlas Capital, BioTrack Capital, Elite Capital and Daehwa Pharmaceutical Co. Ltd.

HaiHe is led by CEO RuiPing Dong, former head of emerging markets R&D at Merck & Co. Inc. (NYSE:MRK), and has 10 compounds in clinical development and five in preclinical testing...