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Sangon & Bio Basic Inc. Closes $10 Million Round of Investment by Qiming Ventures
Date:8/3/2010

>William Hu from Qiming Venture Partners joined the Board. The investors said: "We are very excited about the company's vision to build a world class life sciences research service company. We believe in the growing needs of research in a cost effective manner and are confident in the management team. We are very pleased to close this investment."

About Sangon & BBI:

Founded in 2003, Shanghai Sangon Biotechnology is one of China's leaders in life sciences research and development services, providing chemical and biological reagents, DNA synthesis, molecular biology kit, protein, antibody, and laboratory consumables.

Based in Canada and with sales network in 40 countries, BBI provides life science research tools and services including Molecular Biology Kits, Biochemicals, Synthetic Genes and Synthetic Oligos to customers worldwide.

About Qiming Ventures:

Qiming Venture Partners is a leading early to growth stage venture capital firm in China with offices in Shanghai, Beijing, Hong Kong and Seattle. Qiming and its affiliate in the US, Ignition Partners, together manage over $2.5 billion including two funds with $520 million under China management. Qiming invests in entrepreneurs creating the next generation of consumer, information technology, health care, and cleantech companies. Our partners are proven business leaders with strong operational experience and successful investment track records including many successful IPO's and merger and acqu
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SOURCE Qiming Venture Partners
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