China Digest: Teligene, AnchorDx in funding news

Teligene has raised over 600 million yuan ($93 million) in its pre-IPO round from GTJA Investment Group, while AnchorDx has raked in $40 million in its Series C round jointly led by OrbiMed and Wuxi Huiying Investment.

Teligene snags $93m in pre-IPO round 

Small-molecular drug discovery firm Teligene Ltd has pocketed over 600 million yuan ($93 million) in its pre-IPO round from existing investor GTJA Investment Group, a Shenzhen-based healthcare fund with more than 20 billion yuan ($3 billion) in asset management.

GTJA along with investors namely IDG Capital, Shenzhen Capital, China Construction Bank’s CCB Capital, Loyal Valley Capital, Huitianfu Capital and Suzhong Pharma had earlier made a strategic investment in Teligene’s Series B round in 2018.

Names of other investors who have participated in the current round of funding have not been disclosed.

Teligene makes small-molecular medicines for lung and breast cancers. The 10-year-old company has developed a pipeline of drugs meant for preclinical to clinical trials.

Suzhou Fanglve Biotech is the largest shareholder in Teligene holding 21.03% stake. Meanwhile, other shareholders are Shenzhen Capital (7.08%), GTJA (3.27%), Suzhong Pharma (2.02%), and Loyal Valley Capital (0.14%).

AnchorDx nabs $40m in Series C

AnchorDx, a specialist of DNA sequencing and diagnostics, said on Tuesday that it has secured $40 million in its Series C round jointly led by New York-based healthcare fund OrbiMed and Suzhou-headquartered Wuxi Huiying Investment.

The funding will help AnchorDx accelerate its registration and commercialisation of products in the pipeline, and expand its R&D in diseases, the company said in the statement.

AnchorDx claims that its products can cover 70% of common cancers.

Earlier in 2018, AnchorDx has partnered with China’s 23 leading hospitals and institutes co-working on high-throughput sequencing of lung cancer diagnostics.

Prior to that, in 2017, AnchorDx raised $28 million in its Series B round from Arch Venture Partners, Wuxi AppTec, CCB International, Marathon Venture Partners, KingMed Diagnostics and 6 Dimensions Capital.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.