On July 24, 2020 Shanghai HaiHe Biopharma reported that completed a $171 million Series C round led by Warburg Picus to advance its portfolio of innovative drugs (Press release, Shanghai HaiHe Pharmaceutical, JUL 24, 2020, View Source [SID1234562343]). The company has ten candidates in clinical trials, including three at Phase III stage or beyond. HaiHe has partnered with Shanghai Institute of Materia Medica, Chinese Academy of Science to develop novel cancer drugs for global markets. In 2018, HaiHe merged with RMX (Shanghai) Pharmaceutical Technology. Last year, the company raised $147 million in an A round.

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