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CGeneTech Secures Over 100 Million RMB Series A+ Financing Led by Hongtai

  • Categories:Company News
  • Author:New Drug Founders Club
  • Origin:
  • Time of issue:2019-07-30
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(Summary description)[(China Suzhou, China, July 30, 2019) - CGeneTech (Suzhou, China) Co., Ltd. has received more than 100 million RMB Series A+ financing led by Hongtai Capital and followed by NCBI. This round of financing will be used to continue to advance the clinical trials of the new hypoglycemic drug Shenggliptin and the research progress of other innovative drug projects under development, while for rare disease drugs that have completed the consistency evaluation will be introduced to the market early next year].

CGeneTech Secures Over 100 Million RMB Series A+ Financing Led by Hongtai

(Summary description)[(China Suzhou, China, July 30, 2019) - CGeneTech (Suzhou, China) Co., Ltd. has received more than 100 million RMB Series A+ financing led by Hongtai Capital and followed by NCBI. This round of financing will be used to continue to advance the clinical trials of the new hypoglycemic drug Shenggliptin and the research progress of other innovative drug projects under development, while for rare disease drugs that have completed the consistency evaluation will be introduced to the market early next year].

  • Categories:Company News
  • Author:New Drug Founders Club
  • Origin:
  • Time of issue:2019-07-30
  • Views:0

[(China Suzhou, China, July 30, 2019) - CGeneTech (Suzhou, China) Co., Ltd. has received more than 100 million RMB Series A+ financing led by Hongtai Capital and followed by NCBI. This round of financing will be used to continue to advance the clinical trials of the new hypoglycemic drug Shenggliptin and the research progress of other innovative drug projects under development, while for rare disease drugs that have completed the consistency evaluation will be introduced to the market early next year].


Founded in 2010 by Dr. Qiang Yu and headquartered in Suzhou Industrial Park, CGeneTech Biopharma is dedicated to the development, manufacturing and sales of small molecule innovative drugs. The company's core product, Shengliptin, is a new DPP-4 inhibitor class hypoglycemic drug, which has completed Phase 1 clinical trials and is expected to be the best-in-class product, and has a reserve to develop new anti-cancer drugs.

The lead investor is Hongtai Capital Holdings, which was developed from Hongtai Fund, a unique and advantageous diversified investment holding company in China, co-founded by Mr. Yu Minhong, a famous entrepreneur, and Mr. Sheng Xitai, a veteran investment banker, in 2014. The investment team of Hongtai Medical believes that: CGeneTech has made short, medium, medium and long term layout in product line design, the founding team all have many years of experience in R&D, entrepreneurship and business operation in the pharmaceutical industry, the R&D and operation talents are well coordinated, the R&D fields have their own focus, and the team combination has significant advantages.

Dr. Qiang Yu, the founder of CGeneTech, said that as a drug development company combining innovation and generic, CGeneTech will continue to focus on the domestic diabetic population of over 100 million patients and continue to promote the Phase III clinical trial of Shengliptin, a new drug for lowering sugar, based on the excellent clinical results already achieved. In addition, for areas such as multiple sclerosis, which has been included in the national rare disease catalog but only expensive imported drugs from abroad, the company will bring to market the drugs that have completed the consistency evaluation early next year. At the same time, the company will continue to build new drug lines in diabetes and cancer, and simultaneously promote the development and production of generic drugs in rare diseases.

As a veteran pharmaceutical professional for many years, Dr. Yu Qiang said he would like to do his part to alleviate the suffering of patients and improve their quality of life. Although the road ahead is dangerous and full of divergent paths, under the framework of win-win cooperation, CGeneTech is confident that its future development will be faster than imagined. He said, "We would also like to thank all the staffs of CGeneTech, without their hard work and sweat, we would not have solid scientific research results; we thank all the investors for their trust and support, and we will grow together with them in the future. Precisely.

Outside the boat, the water and sky are united.

Listen to the tide of the river at night and sing.

The sails are breaking the waves, and the path is open.

Fearlessly, the road is long.

About CGeneTech

CGeneTech (Suzhou, China) Co., Ltd. was founded in 2010 by Dr. Qiang Yu, an expert from the National Major Talent Introduction Project, as a high-tech enterprise dedicated to the research, development, production and sales of small molecule innovative drugs. Since its establishment, the company has applied for several invention patents and has been granted 2 patents. Among them, Shenggliptin, a new class 1 hypoglycemic drug, has been successfully selected as one of the "Major New Drug Creation" projects in the 12th and 13th Five-Year Plan of China in 2012 and 2018, marking the project has been successfully included in the key support track of innovative drugs at the national level. The preclinical study showed that the main technical parameters and long-term benefits of Shengliptin are much better than those of its global counterpart, selegiline. The preclinical and recently completed clinical phase I studies have shown that the key technical parameters and long-term benefit of selegiline are significantly better than its global counterpart, selegiline.

In addition, the Company has leveraged its technical advantages to actively provide R&D services since 2014, reaching sales of tens of millions of dollars for several years, and has gained strategic initiative for corporate survival and development. The Company has obtained clinical approvals for 3 classes of drugs including asenapine maleate, teriflunomide, vortioxetine and belinostat. Among them, teriflunomide has completed the consistency evaluation and will be reported for production in the near future. The company continues to receive strong support and full affirmation from the local government and the state, and has obtained financial support and honors for several projects, and will continue to actively raise funds, providing solid financial security for the company's new drug development projects.

About Hongtai Capital

Hongtai Capital Holdings, developed from Hongtai Fund, is a unique and advantageous diversified investment holding company in China, which was co-founded by Mr. Yu Minhong, a famous entrepreneur, and Mr. Sheng Xitai, a senior investment banker, in 2014. Now, Hongtai Capital Holdings has established a comprehensive investment management platform for the whole life cycle, and its investment business covers angel/venture investment, private equity investment, mergers and acquisitions, master fund, financial market business, wealth management, international business, etc. It has also built industrial and ecological business sectors such as Hongtai Smart and Hongtai Cultural Travel. Hongtai Capital Holdings adheres to the principle of "Change? Create together, become a man? With the value of "Change, Create and Achieve" and the mission of "Make the world a better place by joining hands with outstanding entrepreneurs", Hongtai Capital Holdings is committed to becoming an innovation promoter and cross-border integrator.

About NCBI

Agricultural Bank of China, the manager's de facto controller, is one of the world's top integrated banks and one of the market leaders in China's banking industry, ranking 6th in the Top 1000 Global Banks at the end of 2017. The Yangtze River Delta city cluster, to which Suzhou and Wuxi, where the manager is located, has a GDP size of RMB 14.7 trillion in 2016, ranking first among the three international-level city clusters of Yangtze River Delta, Pearl River Delta and Beijing-Tianjin-Hebei. The Manager provides diversified and comprehensive services to its target customers by leveraging the comprehensive financial services functions of its parent bank covering investment banking, fund management, financial leasing and other fields. The Manager focuses on specific industries, clients, regions and services, and incorporates risk control throughout the investment process to pursue investment returns with high safety margins.

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