# Mabwell

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mabwell

- Industry: Biotechnology
- Headquarters: Shanghai, China
- Website: www.mabwell.com
- Total disclosed funding: $279M
- Latest round: Series A (Apr 28, 2020)
- Investors on record: 13

## About

Based in Shanghai, China and established in 2017, Mabwell (Shanghai) Bioscience Co., Ltd., dba Mabwell is a biopharmaceutical company that engages in the development of macromolecular drugs such as monoclonal antibodies and long-acting recombinant proteins. The company's Chairman and CEO, Dr. Datao Liu, is a recipient of Special Government Allowances of the State Council. Mabwell has established manufacturing facilities in Taizhou, Shanghai, subsidiaries in Nanjing, Beijing, and other places in China, and a laboratory in San Diego, United States. In June 2020, the company was converted into a joint stock company. In January 2022, it was listed on the Shanghai Stock Exchange under the ticker "688062".

In April 2026, Mabwell raised over HKD 1.30 billion in an IPO, selling 47.13 million shares at HKD 27.64 apiece on the Hong Kong Exchanges and Clearing (HKEX) under the ticker "2493".

Mabwell mainly focuses on developing and producing drugs internally for oncology, immunology, ophthalmology and orthopedics, having built a pipeline portfolio of both commercialized products and drug candidates. The company's main products include antibody-drug conjugates (ADCs), monoclonal antibodies (mAbs), fusion proteins and small molecules, and commercialized products for orthopedics, oncology and orthopedics.

The company generates revenue from selling its commercialized drug products in China, primarily through third-party distributors who are responsible for on-selling and delivering the products generally to hospitals, medical institutions and pharmacies.

After the IPO on Hong Kong Exchanges and Clearing in April 2026, Mabwell aims to advance the clinical development of its core product 9MW2821 for the treatment of multiple cancers toward commercialization, advance and expand other pipeline products focused on oncology and age-related diseases, and advance its commercialization network and business development efforts tailored to different markets.

## Funding rounds

- Series A, Apr 28, 2020, $279M — Oriental Fortune Capital, Golden China Fund, Haitong Innovation Capital Management, Huarong Rongde Asset Management, Founder H Fund, Loyal Valley Capital, Sincere Capital, Shiyu Capital, Winfast Holding, Ganzhou Development Investment Fund Management
- Angel, Nov 1, 2019 — Zhongjun Capital, Shenzhen Royal Capital, Zhongkai Investment

## Investors

- Zhongjun Capital (https://capitalatlas.ai/funds/zhongjun-capital) — Angel
- Shenzhen Royal Capital (https://capitalatlas.ai/funds/shenzhen-royal-capital) — Angel
- Zhongkai Investment — Angel
- Oriental Fortune Capital (https://capitalatlas.ai/funds/oriental-fortune-capital) — Series A
- Golden China Fund (https://capitalatlas.ai/funds/golden-china-fund) — Series A
- Haitong Innovation Capital Management (https://capitalatlas.ai/funds/haitong-innovation-capital-management) — Series A
- Huarong Rongde Asset Management — Series A
- Founder H Fund (https://capitalatlas.ai/funds/founder-h-fund) — Series A
- Loyal Valley Capital (https://capitalatlas.ai/funds/loyal-valley-capital) — Series A
- Sincere Capital (https://capitalatlas.ai/funds/sincere-capital) — Series A
- Shiyu Capital (https://capitalatlas.ai/funds/shiyu-capital) — Series A
- Winfast Holding (https://capitalatlas.ai/funds/winfast-holding) — Series A
- Ganzhou Development Investment Fund Management (https://capitalatlas.ai/funds/ganzhou-development-investment-fund-management) — Series A