GeneQuantum Closes RMB40 Million Series A Financing

28 Mar

GeneQuantum Healthcare (Suzhou) Co., Ltd., a high-tech company focused on the research and development of innovative Bio-therapeutics, announced the completion of a RMB40 million (equal to approximately $5.8 million) Series A financing. The lead investor is Oriza Seed Venture Capital (“Oriza Seed”), joined by TF Capital.

GeneQuantum was founded in August 2013 at Suzhou Industrial Park, and has built-up a world-class bio-conjugation technology platform, focusing on developing series of next generation anti-tumor Antibody-Drug-Conjugates (ADCs) with best-in-class potential. Securing this round of financing will significantly promote the development of current ADC candidates towards IND filling in both US and China, meanwhile further expanding the company’s product pipeline.

“GeneQuantum’s innovative Ligase Dependent Conjugation (LDC) technology, combined with IP protected Automatic On-line Monitoring Conjugation System and Linker Screening & Optimization Facility, provide a holistic solution for the R&D of next generation ADCs,” said Dr. Gang Qin, Founder and CEO of GeneQuantum. “In comparison with ADCs produced via conventional technologies, drug candidates generated from the unique LDC platform have shown a drastically enlarged therapeutic window. We believe this will ensure GeneQuantum’s leading role in the field of bio-conjugation therapeutics development. It is our honor to have the acknowledgement and support from Oriza Seed and TF Capital, senior biopharmaceutical investment agencies. This will not only provide us with the financial support needed for IND application, but also bring a wealth of resources. Anchored to our mission ‘Dedication to Innovation, Responsibility for Health’, we will stick to innovation and remain committed to continuously providing global cancer patients with better and safer therapeutics.”

“Oriza Seed has been focusing on investing early stage pharmaceutical companies, for us, the most important features are the technology innovation capability of the core team and market potential of the products,” said Eric Zhao, Partner of Oriza Seed. “We highly recognize the value of GeneQuantum’s innovative and unique bio-conjugation platform, and would like to facilitate bringing candidate drugs to clinical trials as soon as possible, eventually benefiting patients.”

“Since the establishment of TF Capital, we have been dedicated to looking for pharmaceutical companies holding key technologies and a high competition barrier,” said Kevin Chiang, CEO of TF Capital. “We are very positive on GeneQuantum’s innovative bio-conjugation technology and the core team’s drug development strategy. The highly effectiveness and persistence of the executive team deeply impressed us. We hope our industry resources will help to accelerate the product development process of GeneQuantum.”