A portfolio company of Qiming Venture Partners’ Amy Tang has gone public

From our Women's PE Briefs - week commencing August 16, 2021

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A portfolio company of Qiming Venture Partners’ Amy Tang has gone public

A portfolio company of Qiming Venture Partners Amy Tang has gone public. Sino Biological is now listed on Shenzhen’s ChiNext Market. The issue price was 292.92 Chinese yuan renminbi ($45.13) and the stock opened at 599.9 CNY. ($92.64). At that price, it had a market cap of 40.79 billion CNY ($6.2 billion). Qiming led Sino’s first financing round and was its largest institutional shareholder prior to the IPO.

Founded in in 2007, Sino specializes in the R&D, production and sales of biological reagents. The company provides products including recombinant proteins, antibodies, genes and cell culture medium, as well as services including the development of recombinant proteins and antibodies, along with biological analysis and testing services. Since its establishment, the company has provided high-quality biological reagent products and technical services to global drug R&D companies and life science research institutions.

In a statement, Amy Tang said, that Qiming is “pleased to witness Sino Biological achieving the milestone of a successful IPO. When the company started taking funding from investors in 2017, Qiming resolutely participated. Over the years, the company has grown from a startup to a recombinant protein industry leader and achieved significant growth in revenue and profits. We expect the company to explore more possibilities in life science and technologies and becoming solid support for life sciences research and innovation. In the future.” Amy is a venture partner with Qiming, which has $5.9 billion in assets under management.

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