Shanghai, 27 July 2020— Shanghai Haihe Pharmaceutical Co., Ltd (hereinafter referred to as "Haihe Pharmaceutical"), a leading biotech company focuses on the discovery and development of innovative drugs for cancer, announced today that it has closed ￥1.20 Billion Series B Financing. This round of financing was led by Warburg Pincus, joined by CMBI, Legend Capital, CICC Capital, Chaos Investment, ALAN Asset Management, Ruihua Investment, SSC and Series A investors BioTrack Capital, Yingke PE, Atlas Capital, CSPC and affiliated parties. The company intends to use the funds to advance its pipeline, which includes the ongoing R&D and commercialization of multiple anti-tumor innovative drugs worldwide. CEC Capital served as the exclusive financial adviser to Haihe Pharmaceutical during this round of financing. 

Dr. Ruiping Dong, CEO of Haihe Pharmaceutical, commented: “We are very grateful that this round of financing has been continuously recognized and supported by many professional investment institutions. Among Haihe's current 11 core products, 8 are in the clinical stage, and 5 have obtained IND approval in the US. The company is comprehensively advancing the clinical development and commercialization of its products and expanding its international layout. We look forward to working closely with investors to further accelerate the global R&D and commercialization of products, and provide patients with safer and more effective innovative drugs as soon as possible.”

Fang Min, Managing Director and Head of Healthcare Investment at Warburg Pincus, said, "We are very pleased to embark on this new partnership with Haihe Pharmaceutical, which also marks our first investment in China's rapidly expanding and dynamic biotech sector. We have been impressed by the company's ability to innovate, its deep bench of talents as well as its strong pipeline. By leveraging our resources and experience in the domestic and international healthcare sector, we are committed to supporting Haihe Pharmaceutical to provide world-class services to its patients."

CEC Capital served as the exclusive financial adviser to Haihe Pharmaceutical during this round of financing. Gang Li, CEC Capital's Partner, commented, "Thanks to the seasoned founder team and robust product pipeline, Haihe Pharmaceutical has attracted great attention since its establishment. This round of financing was led by globally-renowned investment institutions, showing industry-leading strength of Haihe Pharmaceutical in the field of innovative oncology drugs development. CEC Capital focuses on helping leading companies in all segments of the healthcare industry to grow. We will continue to provide comprehensive support for the company and help it grow into a 'towering tree' in China's innovative oncology field."

About Haihe Pharmaceutical

Haihe Pharmaceutical focuses on discovery, development and commercialization of innovative anti-tumor drugs. Guided by our mission, "Inclusive and open to diversity, innovation oriented to win together and benefit the mankind", Haihe Pharmaceutical insists on the way of independent innovation and pursues for global development of Chinese original innovative drugs.

The company is led by an academician of the Chinese Academy of Engineering. The senior management team has extensive experiences in drug research and development in China and abroad. Haihe Pharmaceutical has built a precision medical platform guided by biomarkers, and established a fully integrated pre-clinical evaluation technical platform and clinical study system for innovative drugs, with advanced technology and operation in consistence with international standards and norms, covering subunits from compound synthesis, CMC study, biomarker discovery and validation, medical strategy and clinical study, etc. The company has established a globally competitive innovative drug R&D system and robust product pipeline. There are 8 compounds in clinical and 3 compounds in preclinical studies.

For more information please visit http://www.en.haihepharma.com

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $53 billion in private equity assets under management. The firm's active portfolio of more than 185 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $84 billion in over 900 companies in more than 40 countries. The firm is headquartered in New York with 14 offices in 11 countries.

Warburg Pincus is one of the largest and most active private equity firms in China and Southeast Asia, having invested more than $14 billion in over 135 companies since 1994. As one of the most experienced institutional investors in China's healthcare industry, Warburg Pincus has invested over $1.7 billion in the areas of oncology, assisted reproduction, obstetrics & pediatrics, aesthetic services, as well as medical logistics & distribution. Our select current investments include Hygeia, Jinxin Fertility, Amcare, Evercare, and HTDK.

About CMBI

CMB International Capital Corporation Limited ("CMBI") is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group's synergy and coordination in domestic and overseas markets, as well as CMB's strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Equity and Structured Finance, etc.

About Legend Capital

Legend Capital, founded in April 2001，is the independent Venture Capital investment subsidiary under Legend Holdings. In February 2012, Legend Capital took the new Chinese name "君联(Junlian)".

Legend Capital is now managing several USD funds and RMB funds with a total AUM over RMB50 bn, and focuses on innovation and growth enterprises with operations in China or related to China.

By 2020, Legend Capital has invested in over 450 companies, of which over 70  are successfully listed on domestic or overseas capital market, besides, around 60 companies achieved exit through M&A.

About CICC Capital

CICC Capital Management Co., Ltd. ("CICC Capital" or "the Firm") is the flagship platform of China International Capital Corporation Limited ("CICC") for its global private equity businesses. The Firm is committed to becoming a globally leading private equity manager with an impactful brand, a large and stable investor base, superior investment capabilities, and prudent and efficient mid-and-back offices.

The Firm's product portfolio has been expanding steadily along three dimensions – investment strategy, industry focus, and geographical area. Currently, the Firm runs government-backed funds investing in emerging industries, funds focusing on restructuring of traditional sectors, USD and RMB funds of funds, and USD and RMB private equity funds with various strategies including venture capital, growth, buyout and distressed investment. With a total AUM of over RMB330 billion and 300 high-caliber professionals in its staff body, CICC Capital has become a leading private equity brand in China.  

About Chaos Investment

Shanghai Chaos Investment Group Co., Ltd. was registered in Pudong New Area in June 2005 with a registered capital of 298 million yuan. As a professional investment institution, its business involves commodity trade, commodity futures, stocks, and private equity investment management. In the investment practice, the company always adheres to the principle of "standardized management, professional research, steadfastness, and strict risk control". Since its establishment, it has continuously achieved excellent performance. The company has an experienced professional team, vigorous and enterprising. Through years of investment practice, this team has accumulated mature investment ideas and perfect risk control measures, and is good at capturing rapidly changing investment opportunities and calmly facing the great turbulence in the financial market. The broad research perspective enables the company to disperse risks through multi-disciplinary portfolios, and accurately grasp the market operation direction at the macro level, so as to ensure long-term stable development.

About ALAN Asset Management

Beijing ALAN Asset Management Co., Ltd, was established in 2016 with a registered capital of 1.713 billion yuan (paid-in). Our shareholders include LANCY Co., Ltd. (002612.SZ), KEB Hana Bank, Hana Financial Group and other competitive investment institutions. ALAN AMC mainly focuses on equity & industrial investment, mezzanine & credit investment, real estate investment and other alternative assets investment opportunities. We are skilled in using a variety of investment methods and paying more attention in selecting industries and customers to achieve stable and profitable investment returns. Our headquartered is in Beijing, and we has established branch offices in Shanghai and Hong Kong.In the future,we plan to set up more branches in Asia to achieve an overall layout in the alternative investment area.

About Ruihua Investment

Jiangsu Ruihua Investment Holding Group Co., LTD., founded in July 2003, is mainly engaged in securities investment and asset management. It is one of the few private equity fund managers with an asset management scale of over 10 billion in China.

The group's business covers the stock market, direct equity investment, merger and acquisition, private placement of listed companies, and financial futures and derivatives investment, thus achieving complete coverage of the industrial chain of China's capital market.

The company focuses on the fields of big health, big consumption and TMT, and has created a new investment model of "hedging arbitrage based on value trend investment". At present, it has invested in more than hundreds of listed and unlisted companies, including primary market, private placement market and secondary market, and directly invested in 7 funds and 2 fund management companies in the primary market. A large number of companies are listed on the main board, second board and STAR Market. It is one of the most active institutions in the market. It has participated in more than 100 private placements and is known as "the king of private placement".

About SSC

Shanghai Sci-Tech Innovation Center Equity Investment Fund (or Shanghai Sci-Tech Capital, SSC) is a Fund-Of-Fund founded in 2017 under the planning of the CPC Shanghai Municipal Committee and Shanghai Municipal Government. The initiation of Shanghai Sci-Tech Capital is led by Shanghai International Group (SIG), together with other cornerstone investors including Guosheng Group, Shanghai Trust, SIPG, Guotai Junan & Zhangjiang Hi-Tech Park. The manager of SSC is Shanghai Sci-Tech Innovation Center Capital Co., Ltd.

SSC’s target AUM is RMB 30 billion, with a first round closing of RMB 6.52 billion in total. The fund focuses on investment of emerging strategic industries including TMT, healthcare, advanced manufacturing, clean technology and renewable energy. The fund invests in stages including angel, early stage, growth stage and late stage, with a primary focus on early and growth stage. The major region invested is Shanghai’s core area of sci-tech innovation center, with an extension to the surrounding Yangtze River Delta region and even entire China. More than 80% of the AUM are fund investment, and less than 20% are direct investment.

About CEC Capital

CEC Capital is a leading investment bank focused on new areas of growth for the TMT, consumer and health industries in China and abroad. CEC Capital has branches in Beijing, Shanghai, Los Angeles, and San Francisco. On the asset management side, CEC Capital is currently managing an RMB fund and a US dollar fund. CEC Capital also has FINRA/SIPC (formerly NASD) licensed employees. CEC Capital focuses on and has advantages within the medical and health industries. CEC Capital's healthcare team consists of professionals with experience working in R&D, funds, medical institutions, and large conglomerates. The team is defined by its keen investment logic and penetrating industry insights.