Creative Biosciences Secures RMB 300M in Series D Funding to Facilitate the Early Diagnosis of Colorectal Cancer at Home

On April 12, 2019, vcbeat.com was informed that Creative Biosciences announced RMB 300M in funding round B. This round is led by CDH Capital and IDG Capital, alongside existing investors Chende Capital, Jinhe Capital and Jinyuan Fund.

It is known that this funding will be used for the marketing of COLOSAFETM and the developing of follow-up cancer products pipeline. 

Guangzhou Creative Biosciences co., LTD. is a high-tech biological company founded in January 2015 by Zou Hongzhi, the main inventor of DNA testing for feces. Since its establishment, the company has been focusing on the development, production, and sales of COLOSAFETM and other early diagnosis products of the tumor with additional testing services. The core product COLOSAFETM has been approved by the National Medical Products Administration (NMPA) to be officially on the market on November 20, 2018, which becomes the first feces DNA colorectal cancer detection kit approved for the market in China.

In addition to the headquarter of Creative Biosciences in Guangzhou high-tech industrial development zone, this company also has third-party medical testing laboratories located in Tianjin, Wuhan, Jinan, and other places. At present, the laboratories in Guangzhou and Tianjin have passed inspection and obtained the practice license and gene amplification license of medical institutions.

Colorectal cancer (CRC), also known as bowel cancer and colon cancer, is the third most common malignant tumor in China and has become the second in Beijing, Shanghai, and other developed regions. For a long time, doctors and patients have been eagerly looking for an early diagnosis product of bowel cancer that is convenient, with high detection rate and accuracy.

COLOSAFETM, developed by Creative Biosciences, is exactly a colorectal cancer detection tool that can accurately interpret the abnormal genetic changes in feces. It can help doctors to detect patients' colorectal cancer lesions at an early stage, which is expected to block colorectal cancer, so as to achieve the goal of prevention and radical treatment of colorectal cancer. After thousands of clinical data and NMPA clinical trials, the effectiveness of COLOSAFETM has been widely recognized by experts, and the detection rate of colorectal cancer is about 84% (the rate of early colorectal cancer is higher). With samples sent by SF Express and collected at home, users will be informed of the test results within 7 working days.

As the only company in the industry that has obtained clinical certification, Creative Biosciences will advance large-scale marketing of products to widen the gap between competitors.

" Creative Biosciences are excited to cooperate with excellent investment institutions to enrich our product pipeline, distribute products with social significance, and turn to be a leader in the field of molecular diagnostics in China." said Zou Hongzhi, founder of the company.

The investor, CDH Capital, has been paying close attention to the frontier progresses/progressed in the field of the tumor for a long time, searching for high-quality targets and drawing the in-depth layout. " We deeply realize the social pain of cancer prevention and screening." Wang Lin , founding partner of CDH investments , said , " we hope to use CDH's network of resources, the overall layout of the medical industry and the ability of post-investment management to consolidate the leading position of Creative Biosciences in the early prevention and early treatment of colorectal cancer and other cancers in China " .In the eyes of Dr. Liu Dan, executive director of CDH’s innovation and growth fund, Creative Biosciences is a high-growth target identified by CDH’s VGC medical team through in-depth industry research. "The development of COLOSAFETM , which is suitable for Chinese people, is the Chinese innovation in the gene diagnosis of colorectal cancer indeed. CDH hopes to continuously advance the transformation of scientific and technological achievements in cancer screening, diagnosis, and treatment." He said.

Zou revealed that the company has set up many sales teams across our country, and they will be further expanded in the future. It is reported that except for COLOSAFETM, Creative Biosciences is also under the development of lung cancer, bladder cancer, and other tumor early diagnosis products, which has achieved breakthrough results.

CDH, founded in 2002, is one of China's largest alternative asset managers with 120 billion yuan under management. CDH investment has six business segments, including private equity investments, innovation, and growth, portfolio investments, real estate investments, mezzanine investments, and wealth management. It has successively invested in more than 200 enterprises, more than 60 of which have launched an IPO. As an important force for China's economic vitality, it has built a number of industry leading brands, and its staff size is more than 1.5 million.

Founded in 1992, IDG Capital was the first firm to bring foreign venture capital into China. Today IDG Capital works with private equity and venture capital fund managers, investment advisors and business entities from around the world. Partners at IDG Capital include internationally reputable investors, including governments/sovereign wealth funds, pension funds, institutional investors, major charities, university endowments, family offices, and business luminaries.

IDG Capital focuses on leading enterprises in the fields of Internet and high technology (TMT), new consumption and service, culture and entertainment, medical and health care, advanced manufacturing and clean energy. It invests in various stages including seed, early stage, late stage, merger, and reorganization.