Novo Holdings Commits $290 Million to Fuel Innovation and Expand Global Presence of Sangon Biotech

Novo Holdings, a prominent global life science investor renowned for fostering groundbreaking enterprises, has injected a substantial sum of $290 million into Sangon Biotech. This strategic infusion of capital marks a pivotal juncture in Sangon Biotech’s journey, as the company gears up for diversification and an ambitious international expansion drive.

Novo Holdings, entrusted with the stewardship of valuable assets and wealth by the esteemed Novo Nordisk Foundation, has partnered with a consortium of illustrious investors including GL Capital, CPE, Greenwoods Asset Management, Huagai Capital, CDB Venture, China Merchant Health, and other key stakeholders. This collective financial endorsement is poised to propel Sangon Biotech’s visionary agenda, affording the company the resources to expand its product and service portfolio, accelerate research and development endeavors, foster talent cultivation, and extend its geographical footprint.

Sangon Biotech, a leading provider of cutting-edge research tools and services, stands at the forefront of China’s life science tools sector. Tracey Wang, the CEO of Sangon Biotech, expresses her palpable enthusiasm for this funding round, underscoring the caliber of investors that it has attracted. Leveraging its trailblazing status, Sangon Biotech is well-positioned to further enhance its capabilities, optimize production processes, and invest in pioneering technologies to seamlessly meet the evolving demands of a dynamic market. The strategic collaboration with Novo Holdings and other partners is set to expedite Sangon Biotech’s growth trajectory, equipping academia and industry partners with avant-garde tools to combat a diverse spectrum of diseases.

“I am highly gratified that this financing round has garnered participation from such reputable institutional investors. We are eagerly looking forward to working closely with Novo Holdings and our other investors to expedite our business development endeavors both within China and globally,” Wang remarked.

With an illustrious history spanning almost three decades, Sangon Biotech has solidified its reputation as a trailblazer in China’s life sciences arena. The company’s extensive suite of products and services spans four pivotal categories: DNA synthesis, R&D reagents and consumables, genetic sequencing, and protein- and antibody-related products.

At the core of Sangon Biotech’s operations lies a robust infrastructure comprising 47 state-of-the-art manufacturing facilities sprawled across China. This expansive network supports a diverse clientele that encompasses over 7,000 academic institutions as well as an impressive array of more than 40,000 biotech, biopharma, and IVD (In Vitro Diagnostics) companies nationwide. The company’s dominance is particularly prominent in the DNA synthesis domain, where it reigns as China’s premier provider.

Dr. Amit Kakar, Senior Partner and Head of Novo Holdings Asia, lauds this partnership as a momentous stride in Novo Holdings’ regional aspirations for the Asian market. The capital infusion into Sangon Biotech, he underscores, seamlessly aligns with Novo Holdings’ overarching strategy of identifying and nurturing genuine industry leaders. The collaboration is poised to ignite innovation, propel Sangon Biotech’s global trajectory, and solidify its stature in the fiercely competitive life science tool market.

The capital injection comes at a juncture of robust growth in the Chinese life science tool market, which has consistently expanded at a robust annual rate of 15%, even amid the challenges posed by the ongoing COVID-19 pandemic. Sangon Biotech’s strategic financial reinforcement not only propels its own evolution but also possesses the latent capacity to drive transformative breakthroughs of global significance.

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