- Companies
- Bioheng
Bioheng Valuation, Funding & Investors
Bioheng is valued at $195M as of March 2021.
Last Bioheng valuation
$195M
Series B · Mar 2021
Last Bioheng funding round
$30M
Series C · Nov 2024
Cumulative funding Bioheng raised
$125M
across 3 funding rounds
Key investors in Bioheng
Decheng Capital
Qiming Venture Partners
Shenzhen Capital Group
Hillhouse Investment
GL Ventures LLC
Octagon Capital Advisors
Bioheng Overview
About Bioheng
Bioheng is a Chinese biopharma company developing cell and gene therapies for cancer and autoimmune diseases. Founded in 2017 and based in Shanghai, the firm operates a GMP facility producing CAR-T cells and engineered NK cells. Bioheng received investment from Simcere Pharmaceutical Group and advances clinical trials for solid tumors in China.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$195M (Mar 2021)
Bioheng Valuation
Bioheng is currently valued at $195M, based on its Series B in March 2021.
The $80M round was led by Decheng Capital and GL Ventures LLC, with participation from Min Cui, Hillhouse Investment, Octagon Capital Advisors and Shenzhen Capital Group.
Bioheng valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series B | $195M |
Bioheng Funding History
Bioheng has raised a total of $125M across 3 funding rounds.
Bioheng's first fundraising round was a $15M Series A in February 2019. The most recent completed round was a $30M Series C in November 2024.
Bioheng funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Series C | Qiming Venture Partners | $30M | - | - |
| Mar 2021 | Series B | Decheng Capital (lead); GL Ventures LLC (lead); Min Cui; Hillhouse Investment; Octagon Capital Advisors; Shenzhen Capital Group | $80M | $195M | Bioheng Biotech Co., Ltd. is a clinical-stage biotechnology company based in Nanjing, China, focused on developing novel allogeneic immuno-cell therapies for cancer treatment. The company announced its Series B financing round on March 24, 2021, raising approximately $80 million, co-led by GL Ventures (venture capital unit of Hillhouse Capital), Decheng Capital, and Octagon Capital, with participation from BlueRun Ventures China and Shenzhen Capital Group. Proceeds from the Series B round are intended to advance R&D capabilities, process development, and clinical trials for Bioheng's allogeneic immuno-cell therapy pipeline. At the time, the company reported progress in several indications with promising clinical data, aiming to provide more affordable 'off-the-shelf' therapies to patients. Existing shareholders continued their support, highlighting recognition from top biotech investors. Investors expressed strong confidence in Bioheng's technologies, management team led by Founder and CEO Lu Han, and its enriched pipeline with solid clinical progress over the prior two years. Dr. Xiangmin Cui of Decheng Capital and Dr. Ting Jia of Octagon Capital praised the company's scientific vision, teamwork, and innovation. This Series B brought Bioheng's total funding to about $94.77 million across three rounds as of March 2021. |
| Feb 2019 | Series A | Decheng Capital (lead) | $15M | - | - |
Who has invested in Bioheng?
7 investors have backed Bioheng across its funding rounds, including Decheng Capital, Qiming Venture Partners, Shenzhen Capital Group, Hillhouse Investment, GL Ventures LLC and Octagon Capital Advisors.
Lead investors include Decheng Capital and GL Ventures LLC.
Bioheng Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Feb 2019 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Participant | Mar 2021 | ||
This data is available for Pro users. Sign up to see all 7 Bioheng investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialBioheng Competitors
Bioheng competitors include listed companies like Huons Co and Humacyte, and private ones like Indiabulls Pharmaceuticals, SURGE Therapeutics, Eirion Therapeutics and INCOG BioPharma.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $193M | - | ||
| Private | - | - | $192M | - | ||
| Private | - | - | $190M | - | ||
| Publicly listed | $452M | $58M | $170M | - | ||
| Private | - | - | $168M | - | ||
| Publicly listed | $2M | ($25M) | $160M | 47.2x |
Bioheng Public Comps
Bioheng is still privately-owned, but its public comps include Tonix Pharmaceuticals, Oramed Pharmaceuticals, BioVersys, Bioxyne, Alpha Cognition, Ilex Medical, Surrozen, Boan Biotech, Coherus Oncology and Medeze Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $13M | ($126M) | 1.6x | 0.5x | (0.2x) | - | |||
| $2M | ($8M) | 72.1x | 253.0x | (17.9x) | - | |||
| $974K | ($25M) | 140.1x | 34.5x | (5.5x) | (3.8x) | |||
| $53M | $12M | 3.6x | 3.3x | 15.8x | 13.1x | |||
| $10M | ($23M) | 14.7x | 7.1x | (6.7x) | (8.4x) | |||
| $307M | $39M | 0.4x | - | 3.5x | - | |||
| $3M | ($245M) | 29.9x | 12.0x | (0.4x) | - | |||
| $117M | $19M | 1.4x | 1.4x | 8.4x | 24.3x | |||
This data is available for Pro users. Sign up to see all Bioheng competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Bioheng
| When was Bioheng founded? | Bioheng was founded in 2017. |
| Where is Bioheng headquartered? | Bioheng is headquartered in Nanjing, China. |
| Is Bioheng publicly listed? | No, Bioheng is a private, VC-backed company. |
| What is Bioheng's valuation? | Bioheng was last valued at $195M in its Series B in March 2021. |
| How much funding has Bioheng raised? | Bioheng has raised $125M across 3 funding rounds. |
| What was Bioheng's last funding round? | Bioheng's last funding round was a $30M Series C in November 2024. |
| Who are Bioheng's investors? | Bioheng's investors include Decheng Capital, GL Ventures LLC, Min Cui, Qiming Venture Partners, Hillhouse Investment, Octagon Capital Advisors and Shenzhen Capital Group. |
| Which companies are comparable to Bioheng? | Companies comparable to Bioheng include Indiabulls Pharmaceuticals, SURGE Therapeutics, Eirion Therapeutics, Huons Co, INCOG BioPharma and Humacyte. |
See companies similar to Bioheng
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




