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CGeneTech announced the completion of a Series A financing round of nearly RMB 100 million on the 12th of February

  • Categories:Company News
  • Author:BioBAY
  • Origin:
  • Time of issue:2017-12-12
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(Summary description)CGeneTech (Suzhou, China) Co., Ltd.  announced at a financing conference on December 12 that it has completed a Series A financing round of nearly RMB 100 million. The round was co-led by Yipu Capital and Tongren Boda, with joint participation from QianFin Capital and Ida Capital. CGeneTech plans to use this round of financing for clinical trials of two products, including Class I innovative drugs, and to continue to expand its R&D and registration filing team, as well as to further expand its pipeline and advance subsequent new drug projects into the clinic. Zhang Dongchi, Director of Suzhou Science and Technology Bureau, attended the launch and witnessed the event.

CGeneTech announced the completion of a Series A financing round of nearly RMB 100 million on the 12th of February

(Summary description)CGeneTech (Suzhou, China) Co., Ltd.  announced at a financing conference on December 12 that it has completed a Series A financing round of nearly RMB 100 million. The round was co-led by Yipu Capital and Tongren Boda, with joint participation from QianFin Capital and Ida Capital. CGeneTech plans to use this round of financing for clinical trials of two products, including Class I innovative drugs, and to continue to expand its R&D and registration filing team, as well as to further expand its pipeline and advance subsequent new drug projects into the clinic. Zhang Dongchi, Director of Suzhou Science and Technology Bureau, attended the launch and witnessed the event.

  • Categories:Company News
  • Author:BioBAY
  • Origin:
  • Time of issue:2017-12-12
  • Views:0

CGeneTech (Suzhou, China) Co., Ltd.  announced at a financing conference on December 12 that it has completed a Series A financing round of nearly RMB 100 million. The round was co-led by Yipu Capital and Tongren Boda, with joint participation from QianFin Capital and Ida Capital. CGeneTech plans to use this round of financing for clinical trials of two products, including Class I innovative drugs, and to continue to expand its R&D and registration filing team, as well as to further expand its pipeline and advance subsequent new drug projects into the clinic. Zhang Dongchi, Director of Suzhou Science and Technology Bureau, attended the launch and witnessed the event.

Founded in 2010, Centurion Biomedical Technologies (Suzhou) Co., Ltd. is dedicated to the research, development, production and sales of small molecule innovative drugs. The company has a 1,000 sqm R&D laboratory and advanced instruments and equipment in the Biomedical Industrial Park, and has built up a comprehensive management system. In 2012, Shengliptin, its original patented Class I hypoglycemic drug, was successfully shortlisted for the National 12th Five-Year Plan "Major New Drug Creation", and was included in the track of key support for innovative drugs at the national level, and was granted clinical approval for Class I new drugs in 2017. These drugs are safe and effective, do not cause fasting hypoglycemia, do not increase patients' weight and are orally administered, and have attracted widespread attention from the pharmaceutical industry in recent years. This financing will also focus on advancing the Phase I clinical trials of this drug. At the same time, Centurion's flash-release formulation technology has been awarded the title of Suzhou Engineering Centre, and on this platform has developed new drug projects in special formulations represented by Asenapine.

  Dr. Qiang Yu, co-founder and CEO of Centec, graduated from the Chemistry Department of Peking University and completed his bachelor's thesis in the research group of Academician Qiyi Xing. He then participated in the national "863" research project at the Chinese Academy of Sciences and was the first author of a paper published in a professional journal in the United States. He then obtained his PhD in chemistry in the USA and his research was cited by Nobel Laureate Lehn, Jean-Marie in the internationally renowned journal Nature. In 2002, Dr Yu started working in the US pharmaceutical industry and in 2005, he founded his own company in the US, helping to develop and market the CaCO-2 cells as an irreplaceable model for drug bioefficacy evaluation. In 2010, Dr. Yu returned to China to build a multi-layered R&D pipeline, leveraging his extensive experience in the pharmaceutical industry to target the $100 billion pharmaceutical market. In 2013, Dr. Yu was selected as an expert for the National Major Talent Introduction Project and is the project leader for the National Major New Drug Creation Project.

  Dr. Yu said, "The angel and Pre-A rounds of financing completed before 2016 have provided solid funding for the company's early stage new drug development projects, and we are focused on providing better solutions for patients in various disease areas. The completion of this new Series A financing will accelerate Centurion's product advancement and expansion of multiple product lines in cancer, brain injury, leukemia and more. The lead investors of this financing, YIP Park Capital and Tong Ren Boda, both have very deep resources in the medical field, and Qian Capital and Ida Capital are also well-known in the industry. Together with the previous investors, Zhong Xin Venture Capital and Shan Lan Capital, Shengshi Tai Ke will grow rapidly and continue to hang its sails to help Haiti with the belief of Sheng De, Innovation, Only Truth, and Ze Shi, because we know that our daily work is the hope of patients' hearts. "

 

  翼朴资本蔡志洋先生表示:“我们处在中国创新药即将蓬勃发展的大时代,真正具备创新研发能力和临床经验的企业将面临前所未有的机遇。我们高度认可余强博士及其团队在小分子创新药领域的研发经验和能力,并高度看好盛世泰科产品及研发管线未来的市场潜力。我们非常荣幸能够参与到这样一项伟大的事业之中,并衷心祝愿公司继续脚踏实地,奋勇争先,早日为国内患者带来福音。”


  共同领投方同人博达是专注于医药和器械领域的专业化股权投资机构,一直关注盛世泰科的成长。同人博达非常认可公司核心团队的专业能力和职业素养,对公司降糖新药盛格列汀在临床前的优异表现,特别是潜在的降血脂等心血管获益趋势方面给予了高度评价。同人博达希望通过支持盛世泰科的新药研发项目,推动其打造和完善自身新药创制与创新制剂技术平台,成为具有国际研发能力和产业竞争力的国内一流医药企业。

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