Shanghai-based clinical-stage biopharmaceutical company Cytovant has raised $23.5 million in a new funding round, per an announcement on Friday. The round was led by global financial services company BNH Investment, a South Korean VC firm that focuses primarily on bio & healthcare industries.
The round also saw the participation of a host of Korean companies such as POSCO Capital, Mirae Asset Venture Investment, and Smilegate Investment, among others.
Cytovant is committed to developing cellular therapeutics for Asian patients. Led by Dr. John Xu, a molecular immunologist with more than 20 years experiences, Cytovant owns therapeutics dendritic cell (DC) vaccines and TCR-transgenic T-cell (TCR-T).
Earlier in April 2019, global T cell immunotherapies player Medigene AG had licensed DC vaccine technologies to Cytovant.
The company aims to further develop the DC and TCR-T procedures in Asia.
“Asian patients have unique immunologic features and are treated in healthcare systems that may differ markedly from their Western counterparts. Our strategy is to develop treatments to address those needs precisely,” said Dr. Xu in the satement,“This financing will rapidly accelerate the development of our medicines for patients in China, Korea, and Japan.”
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from April 3, 2020.
Topping the list is Suzhou Ribo Life Science, a nucleic acid drugs developer, which has seen the completion of Series C2 funding round at 470 million yuan ($66 million) from SAIC Capital, Everest VC, Sinopharm-CICC Fund, Shenzhen Zhonghui, FTZ Fund, and Hongtao Capital
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Suzhou Ribo Life Science||Kunshan||66 million||C2||China State-owned Venture Capital Fund,CICC Qide Fund, Hillhouse Capital||SAIC Capital, Everest VC, Sinopharm-CICC Fund, Shenzhen Zhonghui, FTZ Fund, Hongtao Capital||Health Tech|
|Genechem Group||Shanghai||56 million||C||-||Humanwell’s biological medicine industry investment fund, Hidragon Capital, New Margin, FTZ Fund, Principle Capital, InnoSpring||Health Tech|
|Shanghai QST Corporation||Shanghai||49 million||B+||-||Walden International, Junchenda Capital, Jiuyou Fund, Jiangsu Runcheng, lingang Sc-Innovation Invest, New Alliance Capital, GP Capital||Hardware|
|Junlebao||Shijiazhuang||42 million||Strategic Investment||Central SOEs Industrial Investment Fund for Poor Area||-||Consumer & Brands|
|Cytovant||Shanghai||23.5 million||-||BNH Investment||POSCO Capital, Mirae Asset Venture Investment, Smilegate Investment||Health Tech|
|QCraft||Silicon Valley / Shenzhen||* 10 million||Seed||-||IDG Capital, Vision Plus Capital, Tide Capital||Automative|
|Choc Apm||Shanghai||4.5 million||-||-||Cyanhill Capital||Consumer & Brands|
|Enjoy Move||Shanghai||* 1.4 million||Angel||-||Legend Star, BAIC Capital||Automative|
|DataQin||Hangzhou||* 1.4 million||Pre-A||-||-||Blockchain|
|Venmedtech||Suzhou||* 1.4 million||A+||-||SND Financial Holdings, Green River||Health Tech|
|Jixing||Shanghai||1.4 million||A||-||Jinmiao Fund, Diedai Capital||Software & Service|
|Tian Wei Xin Cai||Zhuhai||-||-||Addor Capital||-||Hardware|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “10 million yuan ($1.4 million)” in the given example.