2022.01.05
On January 5, 2022, Cure Genetics Biotechnology Co., Ltd. (hereinafter referred to as "CureGenetics") announced the completion of a US$60 million Series B financing. This round of financing was led by strategic investor Advantech Capital, followed by Oriza Holdings, BOCG and Qiming Venture Partners, with China Renaissance acting as the exclusive financial advisor.
Proceeds from this round of financing will primarily be used to accelerate the clinical development of cell therapy pipeline in both hematologic and solid tumors, the preclinical development of AAV-based innovative serotype screening and gene editing products, as well as global partnership efforts. Cure Genetics has raised close $100 million US dollars to date.
"We are very grateful for the support and recognition from various renowned investment institutions," said Dr. Yuanyuan Xu, Chairman of Cure Genetics, "Cure Genetics has always focused on the field of gene and cell therapy. After several years of development, we have established unique technology platforms in gene editing, vector delivery and cell engineering. Recently, we have also made rapid progress in the field of molecular construction. Through the integration of multiple innovative technologies, we have laid a solid scientific foundation for building and expanding our product pipeline. Cure Genetics is rapidly transitioning into product development stage. This round of financing is of great significance for the company to further accelerate the transformation of science and technology, new product development and global partnership."
Yumin Qiu, partner of Advantech Capital, said, "The field of gene and cell therapy has tremendous potential for clinical application and commercialization. As the lead investor of this round of financing, we recognize the leading technology platform and scientific strength of Cure Genetics, as we have focused on investments in the science & technology and healthcare sectors for many years. Cure Genetics is a leading gene and cell therapy company with high-barrier technical innovation capability, and its proprietary technology platform. We believe that its experienced R&D team can drive further innovation and development of the product pipeline."
About Advantech Capital
Founded in January 2016, Advantech Capital is a private equity investment fund, focusing on innovation-driven growth investment opportunities, primarily in technology and innovation, pharmaceutical and healthcare. In the field of pharmaceutical and healthcare, Advantech Capital has been adhering to the mission of innovation and the goal of benefiting patients, by integrating industry resources, providing comprehensive support to portfolio companies and helping to solve unmet clinical needs. Currently, Advantech Capital portfolio companies include: Zai Lab Limited (ZLAB.O, 9688.HK), Alphamab Oncology (9966.HK), Connect Biopharma (CNTB.O), Micro-Tech Endoscopy (688029.SH), Sinovac (SVA.O), Harbourbiomed(2142.HK), TOT Biopharm (1875.HK), KBP BioSciences, InventisBio, Stemirna Therapeutics, Boan Biotech, 3D Medicines, and many other innovative companies.
