JHM Biopharma completed a CNY200 million ($28.11 million) Series A1 financing round jointly led by Tonghua Investment Group and Guangdian Capital, followed by Zhonghe Oupu Medical and Health Fund, Focus Fund, and Hoshi Capital.

WinX Capital acted as the exclusive financial adviser for this round. The funds raised in this round will be used primarily for the rapid expansion of JHM Biopharma's product pipeline and the construction of a commercial manufacturing base with GMP facility requirements. 

Founded in 2020, JHM Biopharma is one of the first echelons of enterprises in China to achieve the expression of the recombinant botulinum neurotoxin type A. And the company is planning for an IND submission.

Recombinant protein drugs with consumption attributes, such as recombinant botulinum neurotoxin serotype A and human growth hormone, are bound to lead to new technological trends in metabolism and medical aesthetics.

Meanwhile, the company synchronized the arrangement of long-acting and short-acting growth hormones. JHM Biopharma's production process will significantly reduce the manufacturing cost of its long-acting growth hormone preparations, which will assist break through the barriers to commercialization.

Moreover, it has built a nearly 8,000-square-meter GMP warehouse at Hangzhou Medical Port, which can meet the production and commercialization needs of the company's product pipeline.

Sino Biological (301047.SZ) and ACRO Biosystems are two competitive enterprises in the protein reagents area. MingMed Biotech's recombinant botulinum toxin type A injection was also approved for clinical trial application in the first half of 2022. Moreover, strategic targets of overseas recombinant protein companies continue to flock to the Chinese market, and competition will intensify further.

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