CARsgen, a Chinese biopharmaceutical firm which develops clinical-stage immune-oncology therapy has announced today (02.11.2020) that it has raised US$ 186M in Series C funding. The investment was led by Loyal Valley Capital, with participation from existing investor South China Venture Capital and new investors Lilly Asia Ventures, Shiyu Capital, and Summer Capital.
The investment will be used to accelerate the company’s ongoing clinical trials in China, the United States, and Europe, and will also be used as support for expanding its commercial manufacturing facilities in the future.
Previously, the company had raised US$ 60M Series B round exclusively from Photon fund which is a technology and innovation-based firm.
What the founder has to say
According to Dr Zonghai Li, Founder, President, CEO and CSO at CARsgen said, “I am pleased that CARsgen has repeatedly received recognition and support from leading financial institutes and professional investors. This Series C funding will accelerate CARsgen’s ongoing clinical trials in China, the United States, and Europe, and will support expanding our commercial manufacturing facilities.”
“It advances the company’s global development activities as we work to launch CARsgen’s leading products for the benefit of cancer patients worldwide,” he also added.
What Loyal Valley Capital has to say
Mr. Roy (Ronggang) Xie, Partner at Loyal Valley Capital said, “It is a great honor for us to lead the investment in CARsgen’s Series C equity financing. Loyal Valley Capital focuses on supporting the exceptional entrepreneur who constantly strives for excellence, through long-term and continuous efforts, to build a world-class enterprise. Under the leadership of Dr. Zonghai Li, CARsgen has generated a broad and competitive pipeline of first-in-class and best-in-class therapeutic candidates.”
CARsgen was founded in 2014 and is based in Shanghai, with operations in both China and the US. The company has launched several top-notch CAR-T clinical trials for the treatment of relapsed/refractory tumours, including CAR-Claudin18.2-T for gastric and pancreatic cancer, CAR-GPC3-T for hepatocellular carcinoma (HCC) and squamous lung cancer and CAR-EGFR/EGFRvIII-T for glioblastoma. It was co-founded by Huamao WANG and Zonghai Li.
About Loyal Valley Capital
Founded in 2015, Loyal Valley capital is a research-based private equity firm which focuses on deep fundamental research and building value through post-investment value-creation. It manages capital on behalf of long-term institutional investors like sovereign wealth funds, private banks, family offices, etc., from America, Europe, and Asia. Loyal Valley capital was founded by Andy Lin.
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