China Digest: Genechem raises $56m; Junlebao gets $42m

China Digest: Genechem raises $56m; Junlebao gets $42m

Laboratory equipment. Photo: Pixabay

Chinese biotech firm Genechem has closed nearly 400 million yuan ($56 million) in a Series C round from domestic investors, while Sequoia-backed dairy products maker Junlebao has raised about 300 million yuan ($42 million) in a strategic investment from state-owned Central Enterprises Poverty Alleviation Fund.