Wednesday, 27 October 2021

China-based 3D printing pharma startup secures funding worth $50 M

25 June 2021 | News

The proceeds will also be used to expand the 3D printed drug product pipeline

Image credit- Triastek

Image credit- Triastek

Triastek, Inc., the first 3D printing pharmaceutical company in China, has completed its Series B financing, raising $ 50 million (RMB 330 million).

This round of investment was co-led by Matrix Partners China and CPE, with participation from Shanghai Sci-Tech Innovation Center Capital (SSICC) and existing investors, Morningside Ventures, Dalton Venture and Yunqi Partners.

In addition to supporting the ongoing development of the first IND-approved product in clinical trials, the proceeds will also be used to expand the 3D printed drug product pipeline and advancing Triastek's vision of creating a new era of global intelligent pharmaceutical manufacturing.

Triastek co-founder and CEO Dr. Senping Cheng said, "We appreciate the support from Matrix Partners China, CPE, SSICC and our existing shareholders. It is Triastek's unrelenting goal to develop cutting-edge therapeutics that address unmet patient needs, revolutionize pharmaceutical manufacturing and improve human health. We will leverage the advantages of 3D printing of pharmaceuticals as a digital manufacturing technology and incorporate emerging technologies such as artificial intelligence to lead off a new era in advanced, intelligent pharmaceutical manufacturing."

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