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Paul Hastings Advised GenScript and Probio in Series C Financing

January 20, 2023

Paul Hastings LLP advised GenScript Biotech Corporation (GenScript) (stock code: 1548.HK) and its subsidiary Probio Technology Limited (Probio) in Probio’s Series C financing with investments from Legend Capital, Highlight Capital, Hillhouse (Probio’s  Series A investor) and other prominent institutional investors. The share subscription agreement was signed on January 17, 2023. The Series C financing will raise approximately US$224 million at the closing of the transaction. Paul Hastings previously advised GenScript and Probio in 2021 and 2022 on Probio’s Series A and Series B financings, respectively.

GenScript is an industry-leading biotechnology company renowned for its proprietary gene synthesis technology and advanced know-hows in life science research and application. Probio provides comprehensive contract development and manufacturing organization (CDMO) services to biotech and biopharma companies in antibody drug discovery, as well as pre-clinical development, clinical and commercial manufacturing for biologics, and plasmid & virus for therapeutics.

The Paul Hastings team was led by Jia Yan, co-chair of the firm’s mainland China offices, with support from associates Devin Geng and Yanqiu Liu.

More details on the transaction can be found here.

About Paul Hastings

With widely recognized elite teams in finance, mergers & acquisitions, private equity, restructuring and special situations, litigation, employment and real estate, Paul Hastings is a premier law firm providing superior intellectual capital and execution globally to the world’s leading investment banks, asset managers and corporations.

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