Paul Hastings Advised GenScript and Probio in Series C Financing

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 Series C financing raised approximately US$224 million. The second and final closing of the Series C financing took place on April 21, 2023. 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.

Co-chair of the firm’s mainland China offices Jia Yan led the team, which also included associates Devin Geng and Yanqiu Liu.

More details on the transaction can be found here.

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