Wednesday, 26 June 2019

GeneQuantum completes RMB 100M financing

08 May 2019 | News

The funds raised in this round are mainly used to promote the global clinical development of next generation of ADCs

image credit- techcrunch.com

image credit- techcrunch.com

China based 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 ChangjinboyaGeneQuantum 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.

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