Bioheng Raised $80 Million in Series B Financing to Advance Allogeneic Immuno-Cell Therapies
Release Time:
2021-03-25
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NANJING, China, March 24, 2021 /PRNewswire/ -- Bioheng Biotech Co., Ltd, a clinical-stage biotechnology company dedicated on developing novel cellular immunotherapy for cancer, today announced that it had secured $80 million in Series B Financing. The Series B was co-led by GL Ventures, the venture capital unit of Hillhouse Capital, Decheng Capital and Octagon Capital, with the participation of BlueRun Ventures China and Shenzhen Capital Group Company.
Lu Han, Founder and Chief Executive Officer of Bioheng, stated, " We are thrilled to get recognition from such an excellent group of biotech investors and proud of the continued support from existing shareholders. Bioheng focuses on the development of allogeneic immuno-cell therapy. At present, we have made progress in several indications with promising clinical data. Proceeds from this financing will continue to be used to advance R&D capabilities, process development and clinical trials. We are looking forward to providing more affordable 'off-the-shelf' immuno- cell therapies to patients soon. "
"It is a great honor to continue supporting Bioheng in Series B financing. We have strong confidence in company's technologies and management team," said Dr. Xiangmin Cui, Founder and Managing Director of Decheng Capital. "In the past two years, company has enriched the pipeline and made solid progress in multiple assets' clinical development, demonstrating strong research and development capabilities."
Dr. Ting Jia, Founder and Chief Investment Officer of Octagon Capital, expressed, "Bioheng has a clear scientific vision, an outstanding teamwork spirit and unswerving sense of innovation. We are excited to have the opportunity to work with such an excellent team and will accompany them for a long journey."
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