Paul Hastings Advises GenScript, Probio on $224 Million Funding

Paul Hastings advised Hong Kong-listed GenScript Biotech Corporation on a Series C financing round for Probio Technology Limited, its pharmaceutical research and manufacturing subsidiary.

Paul Hastings also advised Probio on the round, which is expected to raise around $224 million. The round was led by Legend Capital and had participation from Highlight Capital, Hillhouse Capital Group, and other investors, according to a statement.

Probio plans to use the new round’s proceeds for general working capital, business expansion, and other purposes, GenScript said in a stock exchange filing. In particular, the funding will allow “Probio to build up manufacturing capacity, ...