GeneQuantum Healthcare completed nearly RMB 100 million in Pre-B financing
SUZHOU, China, May 7, 2019 /PRNewswire/ -- GeneQuantum Healthcare announced that it has closed nearly RMB 100 million Pre-B round of financing. This financing was led by Huagai Capital, joined by Hofon Capital and Changjinboya. GeneQuantum Healthcare's A-round investor Oriza Seed and TF Capital continued for additional investments. The funds raised in this round are mainly used to promote the global clinical development of next generation of ADCs, as well as the rapid development and layout of a series of differentiated innovative technologies and products.
GeneQuantum Healthcare focuses on the research and development of various innovative bioconjugate drugs via its innovative LDC technology and the international first-class iLDC platform. The company's iLDC platform utilizes an enzyme-catalyzed intelligent continuous conjugation process, which has successfully achieved pilot production for next generation of highly homogeneous ADCs with significantly improved quality and reduced costs. The platform process revolutionizes the existing chemical conjugation based production mode and can be widely applied to the automated manufacturing of various bioconjugate drugs represented by ADC drugs. Taking advantage of this platform, GeneQuantum Healthcare has established cooperation with pharmaceutical companies regarding innovative bioconjugate drug research and development.
Dr. Gang Qin, Chairman and President of GeneQuantum Healthcare, said: "GeneQuantum's innovative ADC is about to initiate clinical trial and the pipeline is rapidly expanding. We are thrilled to be recognized and supported by the leading investors such as Huagai Capital and others at this time point. We look forward to working with investors to expedite our business growth in highly differentiated innovative products, to further expand the application of iLDC platform, and to enhance our unique advantages in precision diagnosis and treatment of tumors, so as to provide innovative treatment plan for cancer patients worldwide. With our advantages in intelligent continuous conjugation platform, we will cooperate with international and domestic pharmaceutical companies to rapidly promote more and better bioconjugate drug development and industrialization."
Mr. Zhiqiang Zeng, the managing partner of Huagai Capital, said: "GeneQuantum is a first class enzymatic-conjugation ADC company in the world. It has independently developed its unique iLDC platform and is capable of growing into an internationally competitive biopharmaceutical leader. The next generation of ADCs developed by GeneQuantum Healthcare will help more patients in the future."
Mr. Qun Zhao, partner of Oriza Seed, said: "We are very optimistic about the potential of enzymatic conjugation technology in the field of ADCs. GeneQuantum Healthcare comprises vast technical accumulation and innovative reserves. We'll expect the release of GeneQuantum Healthcare's products to benefit patients as soon as possible."
About Huagai Capital
Huagai Capital is a private equity investment institution jointly founded by a group of professionals from well-known domestic and foreign investment institutions. The company is committed to promoting the growth of small companies into an industry leader in China with the vision of "becoming an internationally influential local asset management institution". At present, it manages a number of equity investment funds such as medical health funds, TMT funds, cultural funds, etc., and its asset management scale exceeds RMB 10 billion.
About Oriza Seed
Oriza Seed is a member company of Suzhou Oriza Holdings Co., Ltd. It is a professional early stage equity investment platform for market operation, focusing on investment opportunities for start-up and growth companies in medical health and TMT. Oriza Origin is experienced and has broad influence in medical and health.
About TF Capital
TF Capital focuses on investment in the life sciences industry, primarily investing in early stage companies with high potential. The investment team has vast experience and resources in industry to assist our portfolio companies. Through diversified strategic layout and selection of quality partners, TF Capital hopes to capture opportunities in the rapidly expanding Chinese life sciences market. Founded in 2014, TF has invested in more than 30 life sciences startups.
About Hofon Capital
Hofon Capital is a fund focused on early-stage project investment in the field of biomedical health. With the strategy of "industrial empowerment" + "financial investment", it focuses on biomedicine, high-end medical devices, medical services, and medical information. The management team has rich medical and health industry background and equity investment experience. The current management scale is about 1.6 billion yuan. It has invested in ColinBrain (Medical Big Data), Yichao Medical (Ultrasonic Medical Devices), EyeCure (Development of new stem cell drugs), LeadsBiolabs (new drug development), iRegene (neural stem cell research and development), GeneQuantum Healthcare (new drug development) and other high-quality enterprises.
Changjinboya is a fund of Beijing Changping Technology Innodevelop Group (CTID). CTID is a wholly-owned industrial investment platform established by the Beijing Changping District Government, which comprises three business systems of asset management, technology finance and industrial services. CTID is committed to build one-stop industrial platform integrating capital, talent, technology, information, culture and space. At present, CTID focuses on Huilongguan, Science and Technology Park, Future Science City and other regions, and has acquired a total of nearly 600,000 square meters of equity industry carriers. The three major funds under CTID have a scale of RMB 2.5 billion, and the participating fund has a scale of RMB 20 billion. It directly or indirectly invested in more than 600 projects.