# Zhejiang Hengyu Biological Technology CO.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/zhejiang-hengyu-biological-technology-co

- Industry: Biotechnology
- Headquarters: Jiaxing, China
- Website: www.hengyudetc.com
- Total disclosed funding: $37M
- Latest round: Series B (Mar 11, 2024)
- Investors on record: 8

## About

Based in Beijing, China and founded in 2020, Zhejiang Hengyu Biological Technology CO.,Ltd is a biotech company specializing in providing bioassay services. The R&D center is located in Shanghai and the testing center is situated in Jiaxing. The company employs nearly 150 people and has more than 8,000 square meters of laboratory space, including a testing center with a laboratory area of about 4,000 square meters. By 2024, it has cumulatively served nearly 200 biopharmaceutical companies and provided technical support for more than 45 clinical and marketing filing cases of biopharmaceuticals. It has partnerships with BeiGene, Innovent, BioRay, and refirgene. It acquired certifications such as UKAS ISO9001:2015 certificate for quality management systems, the EU QP, and the CNAS (China National Accreditation Service for Conformity Assessment). In March 2024, it raised approximately CNY 200 million in series B funding.


The company provides biosafety testing, analytical validation services, and product quality control services for cell and gene therapy products. Among them, the cell and gene therapy product quality control services include process residue testing, cell banking and AAV vector characterization.

The company will use the series B funding to further enhance the company's internationally compliant bioassay quality system, expand its bioassay product line, and accelerate the layout of its overseas business.

## Funding rounds

- Series B, Mar 11, 2024, $28M — GP Capital, CMB International Asset Management, CS Capital, Hongcheng Investment Management, Dada Jiankang, Jiashan Shangshi Cultivation Fund
- Series A, Jul 25, 2022 — Haibang Venture, CS Capital, Shanghai Growth Investment
- Series A, Aug 6, 2021, $9.3M — GP Capital, CS Capital
- Angel, Mar 3, 2021 — GP Capital

## Investors

- GP Capital (https://capitalatlas.ai/funds/gp-capital) — Angel, Series A, Series B
- CS Capital — Series A, Series B
- Haibang Venture — Series A
- Shanghai Growth Investment (https://capitalatlas.ai/funds/shanghai-growth-investment) — Series A
- CMB International Asset Management (https://capitalatlas.ai/funds/cmb-international-asset-management) — Series B
- Hongcheng Investment Management (https://capitalatlas.ai/funds/hongcheng-investment-management) — Series B
- Dada Jiankang — Series B
- Jiashan Shangshi Cultivation Fund — Series B