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.

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