Sequoia Capital China has participated in a $25 million Series A funding round for US-based biotechnology firm Simcha Therapeutics, according to an announcement.
Other investors in the round included WuXi AppTec’s Corporate Venture Fund and Connecticut Innovations.
Simcha Therapeutics engineers novel cytokines designed to unlock the precision and power of the immune system. Simcha’s lead program, ST-067, is a designer IL-18 cytokine that has shown potent antitumor effects in animal models.
The company intends to use the funds to advance its development efforts.
Sequoia Capital China, which is widely viewed as a bellwether for Chinese tech investments, primarily invests in companies in the fields of healthcare, technology, consumption & modern service, as well as media & entertainment.
The China-focused division of American venture capital major Sequoia Capital has backed companies such as e-commerce giant Alibaba Group, Chinese ubiquitous microblogging platform Sina Weibo, Australia-based payment unicorn Airwallex, and Shenzhen-based DJI, which is the largest consumer drone maker worldwide.
The investment firm, most recently, entered into a strategic partnership with Starbucks that will see the two companies make strategic co-investments in China’s technology sector, according to Reuters.
In February, Sequoia Capital China made another close of its four China-focused funds, raising a combined $317.9 million in commitments. In March, it completed a strategic investment of over 1.2 billion yuan ($171 million) in Chinese dairy products maker Junlebao to become the firm’s largest institutional shareholder with a 15.26 per cent stake.
Last year, Sequoia Capital China participated in a $16-million Series A round for US-based drug discovery company Cullgen Inc, along with Chinese healthcare-focused investment firm HighLight Capital. Following the investment, Sequoia secured a seat on Cullgen’s board.
