Jiangsu Vcare Pharmatech, Neurodawn Pharmaceutical and Shanghai Synvida Biotechnology stand out with funding rounds that each grossed roughly CNY200m ($28m) and above.

Private Company Edition: TCGX raises $1bn for its second fund, Goldman Sachs’ first fund totals $650m and Panlin’s biopharma fund grows. Also, Apollo’s series C increases to $260m, Avistone closes a $140m series B, OnCusp raises a $100m series A and HI-Bio grabs $95m in series B cash.

The past year witnessed only one major acquisition of a Chinese biotech by a major pharma company. However, some established firms such as Hansoh have set a new course for collaboration with much smaller peers by in-licensing preclinical assets.

Full-Life’s acquisition of Focus-X came after two other Chinese biotechs leaped into the fray for a leading position in China’s nascent radionuclide therapy market.