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.