Avistone Completes $200 Million-plus Fundraising, with Vivo Capital as the Lead Investor

On December 9, 2021, Beijing Avistone Pharmaceuticals Biotechnology Co., Ltd ("Avistone") announced the closure of Series A funding, raising over $200 million. Vivo Capital was the lead investor, while Bain Capital and PrimaVera were the co-investors. At the same time, Avistone acquired Beijing Purun'ao Biotechnology Co., Ltd ("Purun'ao"), another company focusing on clinical trials, thus creating a research platform for various next-generation precision therapy target drugs.

The current round of funding will help Avistone in its acquisition of Purun'ao, as well as enable it quickens its pace with respect to candidate drugs, expansion of product line and support for the company's clinical development and commercialization, thus providing more effective, safe treatment options for patients in China and beyond.

Based in China, Avistone is an innovative biotechnology company aiming to offer products globally. During the past ten years, the company has been devoted to clinical development and pipeline expansion of products for the treatment of tumors. One of the company's candidate drugs targeted at c-Met is already at late-stage clinical development. Earlier in this year, the company received certification awarded by National Medical Products Administration for breakthrough therapy for the drug. Avistone's product pipelines include an innovative class I drug candidate currently under Phase I clinical trial, and several self-developed compound candidates currently under Phase 1 clinical trials and IND stage.

Founded in 1996, Vivo Capital is a world-leading investment institution focused on medical and health industries. The company is deeply entrenched in the Chinese and American markets, investing mainly in biotechnology, pharmaceutical, medical device and medical care services industries. Vivo Capital leverages on the principles of innovation and growth to help companies in early, mid and late stages of their growth. It offers entrepreneurial platform, funding support and post-investment management services to such companies. It is commited to building an investment ecosystem so as to create long-term value for investors and invested companies alike.

Vivo Capital operates an investment platform with diverse investment opportunities, including venture investment, growth-based private equity, acquisition of controlling right and investments in public markets. The company has $5.8 billion in assets under management, and has invested in nearly 300 listed and non-listed companies around the world.  The company boasts a team of more than 50 professionals in their respective fields, operating offices in California, Beijing, Shanghai, Hong Kong and Taipei.