The current round was co-led by Morningside Venture, a private investment group founded by Hong Kong's Chan family, and Lilly Asian Ventures, the Asian venture arm of Eli Lilly & Co. And Pfizer Venture Investments, the venture arm of Pfizer Inc, also participated in this round.

"We are pleased to have such an outstanding group of investors supporting the ongoing effort to build a world-class biology CRO serving the pharmaceutical and biotechnology industries," said Xuehai Tan, Ph.D., president and chief executive officer of HD Biosciences. "As chemistry outsourcing increasingly shifts to China, we see a growing demand for in vitro screening and in vivo study services in China. The investment by Morningside, Lilly Asian Ventures and Pfizer Venture Investments enables the company to capitalize on this trend with a service offering that is unrivaled both in breadth and quality.”

HD Biosciences intends to use the proceeds of this financing to fund the expansion of its high throughput screening program and build new capabilities in in vivo biology and DMPK bio-analytical services.

News link on press: http://www.genengnews.com/news/bnitem.aspx?name=40030092