During the first half of 2023, the Chinese biopharmaceutical industry experienced a dynamic financing landscape marked by 453 funding events (excluding acquisitions, private placements, and IPOs）. These events collectively amassed a substantial funding pool of 40.238 billion Yuan. The Series A funding and angel round are the majority of the financing events that occurred in overall financing rounds, which have 89 and 64 projects funded. The series A funding as the highest funding amount has reached 10.124 billion Yuan, which indicates a clear trend of early-stage, small-scale, and innovative investment by Chinese investment institutions in the field of Biopharmaceutical. Within this ecosystem, two specific niches emerged as favorites for investment focus: cell and gene therapy and synthetic biology.

• R&B Real and Best has secured over 200 million Yuan in the series A+ financing round,
• Gene Cradle obtained nearly 100 million Yuan in a pre-series B financing round
• Wondercel Therapeutics established by the former co-founder of the Legend Biotech Xiaohu Fan has received nearly 100 million Yuan in an angel round.
• IASO Bio, a clinical stage biopharmaceutical company engaged in cell therapies has secured 500 million Yuan in C1 financing round.
• Bluepha and Leadsynbio are the companies who engaged in synthetic biology has respectively secured over 400 million Yuan in a Series B4 financing round and hundred million Yuan in a Series D financing round.