NANJING, China, March 24, 2021 / PRNewswire / – Bioheng Biotech Co., Ltd., a clinical-stage biotechnology company dedicated on the development of a novel cell-based immunotherapy for cancer, today announced it has secured $ 80 million in Series B funding. Series B was co-led by GL Ventures, the venture capital unit of Hillhouse Capital, Decheng Capital and Octagon Capital, with participation from BlueRun Ventures China and Shenzhen Capital Group Company.
Dr Xiaohong He, Founder and CEO of Bioheng, said: “We are delighted to gain recognition for such an excellent group of biotech investors and proud of the continued support of existing shareholders. Bioheng is focused on the development of allogeneic immune cell therapy. Currently, we have made progress in several indications with promising clinical data. The proceeds of this funding will continue to be used to advance R&D capabilities, process development and clinical trials. We look forward to providing patients with more affordable immunocellular therapies soon. “
“It is a great honor to continue to support Bioheng in the financing of Series B. We have great confidence in the technologies and the management team of the company., ” said Dr Xiangmin Cui, Founder and Managing Director of Decheng Capital. “Over the past two years, the company has enriched the pipeline and made solid progress in the clinical development of several assets, demonstrating strong research and development capabilities. “
Dr. Ting Jia, Founder and Chief Investment Officer of Octagon Capital, said, “Bioheng has a clear scientific vision, exceptional team spirit and an unwavering sense of innovation. We are delighted to have the opportunity to work with such an excellent team and accompany us on a long journey. “
Bioheng is a leading clinical-stage biotechnology company focused on the development and commercialization of novel allogeneic cellular immunotherapies for the immediate treatment of cancer patients, which can dramatically increase affordability and affordability by overcoming barriers encountered by autologous cell therapy. Founded in 2017, Bioheng has set up a pioneering allogeneic immunotherapy platform and built a high level GMP quality 75,000 square foot translation center and manufacturing plant, which is equipped with full closed and semi-automated production compliant with NMPA and FDA regulations. guidelines. Through its proprietary technology, Bioheng has accumulated considerable expertise in cell engineering and has boosted several clinical and IND-stage pipelines. Committed to “bridging life and health”, we are committed to offering every patient a chance for recovery.
For more information visit https://www.bioheng.com/en/.
About GL Ventures
GL Ventures focuses on innovative early stage companies in healthcare, software services, consumer internet, brands and emerging consumer services. The GL Ventures team is passionate about partnering with visionary entrepreneurs to create industry leaders who stand the test of time. GL Ventures is the venture capital arm of Hillhouse Capital, and we’ve been investing with innovators around the world since 2005.
About Decheng Capital
Decheng Capital is a leading investment firm that provides capital and strategic support to early stage life science companies with breakthrough technologies and to growth stage healthcare companies with a strong presence in the market. We are a group of dedicated professionals with complementary expertise who have an exceptional track record in building very successful businesses globally. Founded in 2012, Decheng continues to capitalize on a historic opportunity in the rapid growth of the healthcare industry as well as breakthroughs in life science research. With over $ 2 billion in capital under management and with the backing of some of the world’s most prestigious LPs, Decheng is poised to deliver superior returns to our investors and create value for our entrepreneurial partners.
About Octogone Capital
Founded in 2019, Octagon Capital Advisors LP is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare companies, particularly in the United States and China. Octagon Capital focuses on long-term strategic investments and strives to work with its portfolio management teams as partners. Octagon Capital manages capital on behalf of global institutions such as academic foundations, non-profit foundations, family offices, pension funds and established asset managers.
About BlueRun Ventures China
Founded in Silicon Valley in 1998 and entered the continent China in 2005, BlueRun Ventures China is a leading company focused on innovative technologies, business services, healthcare services and consumer sectors. BRV China has invested in more than 150 start-ups on the continent China including PPTV, Ganji / 58, Guazi, Li Auto (NASDAQ: LI), QingCloud (688316.SH), QuDian (NYSE: QD), etc. BRV China’s assets under management (AUM) exceed 10 billion RMB.BRV China was ranked # 1 in the “Top 30 Early-Stage Venture Capital in Zero2IPO” China“and CVAwards” Top 30 early-stage venture capitalists in ChinaHe was also named to Preqin’s Global Top 10 Consistent Performing Venture Capital Funds Managers.
About the Shenzhen Capital Group Company
Shenzhen Capital Group Co., Ltd. (“SCGC”) was established in 1999. With a mission to discover and build great companies and as a discoverer and cultivator of the innovative value-added company, SCGC has grown into a major global investment conglomerate in VC / PE.SCGC mainly invests long-term capital in small and medium-sized enterprises (“SMEs”), in particular SMEs in emerging high-tech self-innovative markets, in the sectors of information technology, Internet / new media / culture Creativity, Bio-Tech / Health, New Energies / Clean Technologies, New Materials / Chemistry, Advanced Manufacturing, Consumer Goods / Modern Services, etc., in all their phases of development.
SOURCE Bioheng Biotech Co. Ltd