New AI Biotechnology Company Pailong Just Completed 27$ Million of Financing
On June 1, 2019, Pailong Biotechnology just completed 27 million dollars of financing backed by GT Healthcare Capital Partners. Pailong Biotechnology focuses on innovative drug development that is led by AI and new biotechnology. Their main target is cancer with a high death rate, and they are working with partners around the world to address these medical problems that have not yet been resolved.
The long-term goal of Pailong Biotechnology is to develop a series of drugs with breakthrough effects in combination with their own technologies and foreign advanced technologies. The company will build its own specialized development pipeline for their new drugs.
Dr. Mingxi LI, director of Pailong Biotechnology, said "Despite the high failure rate of drug development, it's still the most important challenge for the pharmaceutical industry. In recent years, we have seen great breakthroughs in the field of biology, therapeutic concepts and technologies. Pailong Biotechnology will continue to apply these new technologies in drug development to improve our efficiency".
About GT Healthcare
GT Healthcare Capital Partners is an Asia-based private investment partnership that specializes in healthcare investments around the globe that aim to change technology landscapes. GT Healthcare intends to provide capital and scale expertise to healthcare businesses in Asia.