Paul Hastings Advises GenScript, Probio on $224 Million Funding

Jan. 23, 2023, 11:45 AM UTC

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, ...

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