Biortus Gets $15 Mln From Pharmaron-Backed Bayland Capital

Wuxi Biortus Biosciences, a China contract research organization, recently obtained a $15 million investment led by Bayland Capital, Biortus said in a press release on Friday.

Bayland is backed in part by Pharmaron Beijing, whose chairman is billionaire Lou Boliang.

The series A round of financing will be used to establish a cryo-electronic microscopy innovation center. (See the press release here.)

Pharmaron, whose shares trade in Hong Kong and Shenzhen, said earlier this week a subsidiary Pharmaron Lab Testing will pay up to $137 million to purchase service businesses from U.S.-based Absorption Holdings. (See announcement here.) Pharmaron’s Hong Kong-traded shares have more than doubled in the past year.

Lou earlier in his career worked at Advanced SynTech, Cytel and Ontogen.  Bayland Capital was founded by Pharmarom and China’s Legend Group.

Healthcare-related businesses were among the largest source of new members on the 2020 Forbes China Rich List released on Nov. 5. (See related story here.)

China is second only to the U.S. as home to the world’s second-largest number of billionaires

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@rflannerychina