Chinese biotech startup Bioheng raises $80m in Series B financing to advance allogeneic immuno-cell therapies

Chinese biotech startup Bioheng raises $80m in Series B financing to advance allogeneic immuno-cell therapies

Published: 24-03-2021 15:37:00 | By: Pie Kamau | hits: 1075 | Tags:

Bioheng Biotech, a clinical-stage biotechnology company dedicated on developing novel cellular immunotherapy for cancer, announced that it had secured $80 million in Series B Financing.

The Series B was co-led by GL Ventures, the venture capital unit of Hillhouse Capital, Decheng Capital and Octagon Capital, with the participation of BlueRun Ventures and Shenzhen Capital Group Company.

Xiaohong He, Founder and Chief Executive Officer, Bioheng: " We are thrilled to get recognition from such an excellent group of biotech investors and proud of the continued support from existing shareholders. Bioheng focuses on the development of allogeneic immuno-cell therapy. At present, we have made progress in several indications with promising clinical data. Proceeds from this financing will continue to be used to advance R&D capabilities, process development and clinical trials. We are looking forward to providing more affordable 'off-the-shelf' immuno- cell therapies to patients soon."

Xiangmin Cui, Founder and Managing Director, Decheng Capital: "It is a great honor to continue supporting Bioheng in Series B financing. We have strong confidence in company's technologies and management team.In the past two years, company has enriched the pipeline and made solid progress in multiple assets' clinical development, demonstrating strong research and development capabilities."

Ting Jia, Founder and Chief Investment Officer, Octagon Capital: "Bioheng has a clear scientific vision, an outstanding teamwork spirit and unswerving sense of innovation. We are excited to have the opportunity to work with such an excellent team and will accompany them for a long journey."

www.bioheng.com