GeneQuantum Raises Hundreds of Millions RMB in Series C Funding
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SUZHOU, China, May 18, 2021 /PRNewswire/ -- GeneQuantum Healthcare (Suzhou) Co., Ltd. (hereinafter "GeneQuantum") announced the completion of Series C fund raising of several hundreds of millions RMB. This series of fund raising is led by China Life Private Equity Investment, jointly by PICC Capital Equity Investment, Sunshine Guojian and Suzhou Wuzhong Biomedicine Industrial Park Investment. The current fund raising will provide a solid financial foundation to GeneQuantum for its global clinical development and pipeline expansion of next generation site-specific bioconjugates.
"Since its establishment, GeneQuantum has focused on the development of innovative bioconjugate drugs represented by Antibody-Drug-Conjugate (ADC). We possess highly differentiated ADC technology platforms, including enzyme catalyzed site-specific conjugation technology, innovative linker technology with unique advantage, integrated manufacturing process, that are collectively called intelligent continuous ligase-dependent conjugation (iLDC) platform. These platforms effectively address the current limitations of ADC industry, such as high heterogeneity, narrow therapeutic window, and high manufacturing cost. GeneQuantum's pipeline portfolio includes not only potential blockbuster ADCs with validated targets (BEST-IN-CLASS), but also drug candidates with novel mechanisms of action (FIRST-IN-CLASS), Dr. Gang Qin, GeneQuantum's chairman and CEO, said. "Our R&D capabilities and iLDC technologies will enter the important harvest period in the near future. We are confident that GQ's innovative products will go through global clinical development to commercialization in the next few years. GeneQuantum is kicking off to a high-speed growth. We appreciate the investors for their trust and support. Together with collaborators and partners, we will develop GQ pipelines to commercialization stage therefore to benefit patients around the world."