Home AI Drug Discovery Firm Generate Biomedicines Raises $273 Million in Series C Funding

AI Drug Discovery Firm Generate Biomedicines Raises $273 Million in Series C Funding

Sep 19, 2023 09:57 CST Updated 09:57
Canton Biologics

CMC Development and Manufacturing of Large-Molecule Drugs

Generate Biomedicines

New Drug Developer

(This article isTitanium Media Pro (Professional Edition)(For User's Exclusive Use)

"TMT Post Pro Weekly Report" aggregates domestic and international financing events and hotspots of the week through TMTBase, the global primary market database of TMT Post. It aims to enable investors and entrepreneur users to clearly understand trends, grasp investment logic, and seize the latest industrial opportunities with a time-embedded and data-driven approach.

Industry Report Catalog

The full report contains 6,869 words and 6 illustrations.

1. Key Industry Overview

2. Primary Market Dynamics

2.1, Financing Dynamics in China over the Past Week (Figure: Details/Fields/Stages of Financing Projects)

2.2, Titanium Media Pro·Project Recommendation in China

2.3, Overseas Weekly Financing Dynamics (Figure: Financing Project Details/Fields/Stages)

2.4, Overseas Titanium Media Pro·Project Recommendation

3. Industry Observation

4. Industry Policy

Review of the previous issue:[Healthcare Weekly] Week 36: "Grit Bio," Focused on Tumor Immunotherapy, Completes RMB 400 Million Series B Financing; UK Biopharmaceutical Company "Apollo Therapeutics" Raises $226.5 Million in Series C Funding

For project exposure, please send project materials to: tmtpro@tmtpost.com

Key Reading Points

A total of 44 global investment and financing projects in the medical and health field were recorded, including 20 domestic financings and 24 overseas financings. In terms of financing areas, there were 9 investment and financing events in China's pharmaceuticals sector, ranking first, while the medical device and hardware sector had 5, ranking second. Overseas, the pharmaceuticals sector led with 8 investment and financing events, followed by the biotechnology sector with 5.

In terms of domestic investment and financing, in the pharmaceutical field, "Guangzhou Cantonbio Co., Ltd.", which focuses on the CDMO sector of large-molecule biologics, has completed a Series C round of financing exceeding 300 million RMB; in the biotechnology field, "Create Medical", which specializes in the research and development of novel biomaterials and innovative protein/nucleic acid drugs, has completed a Series B round of financing exceeding 200 million RMB.

In terms of overseas investment and financing in the pharmaceutical field, "Generate Biomedicines," an AI drug discovery company, completed a $273 million financing round, while "DalCor," a developer of therapies for cardiovascular diseases, completed an $80 million Series D financing round.

From September 11, 2023, to September 17, 2023, the TMTBASE global primary market database of Titanium Media recorded a total of 44 financing events in the healthcare sector, both domestically and internationally, including 20 domestic financings and 24 overseas financings.

Financing Dynamics in China for the Week

✔. In the past week, the TMTBASE global primary market database of Titanium Media recorded a total of 20 financing and investment events in the medical and health field in China, with a week-on-week increase of 11.11%.

✔. In terms of the number of financings, there were 9 investment and financing activities in the pharmaceuticals field, 5 in the medical device and hardware field, and 2 each in the medical informatization, biotechnology, and health consumption fields.

✔. In terms of financing rounds, there is 1 angel round, 2 Pre-A rounds, 3 A rounds, 1 A+ round, 2 B rounds, 1 B+ round, 1 C round, and 9 equity investments.

✔. There were 5 disclosed projects with financing over 100 million RMB in the past week, including 2 in the medical device and hardware field, and 1 each in pharmaceuticals, biotechnology, and medical informatization fields.

Recommended Projects by Titanium Media Pro in China

Pharmaceuticals

"Guangzhou Cantonbio Co., Ltd." Completes Over 300 Million Yuan in Series C Financing

Guangzhou Cantonbio Co., Ltd. (referred to as "Cantonbio") announced that it has recently completed a Series C financing round of over 300 million RMB. This round of financing was led by SDIC Venture Capital, with participation from Guangdong Science and Technology Financial Group, Taipu Life Science Investment, and Qianyin Investment. The funds obtained from this financing will be used to promote the company's new technology research and development, commercial production capacity construction, and strategic layout for international operations.

Guangzhou Cantonbio Co., Ltd. was founded in Guangzhou in 2016, specializing in the CDMO field of large-molecule biologics. It provides one-stop end-to-end services from biologics CMC development to commercial production and global clinical supply. Currently, the scale of Guangzhou Cantonbio has expanded from a few bases in the Greater Bay Area to six global R&D and production bases, including Shanghai and Germany, showing strong growth momentum. The company has achieved repeated successes in high-yield cell line construction, high expression capability of complex proteins, and international production capacity. Particularly, it has made significant technological breakthroughs in lgM molecule expression platforms, host cells for expression, high-density cell culture, novel formulations, and analytical fields. Meanwhile, Guangzhou Cantonbio set a new record by completing the process from DNA to CMC production in just seven months, playing a crucial role in accelerating customers' products into clinical trials.

Biotechnology

"Chuangjian Medical" Completes Over 200 Million Yuan in Series B Financing

Recently, Jiangsu CredMedical Technology Co., Ltd. (referred to as "CredMedical") announced the completion of a B-round financing exceeding 200 million yuan. The investment was jointly led by L Catterton's (Chinese name: L Capital) first RMB fund and CLSA Capital, CITIC Securities’ global USD private equity investment platform, with participation from Oriental Fortune Capital and Mingfeng Capital. The funds will mainly be used for industrialization advancement, innovative technology research and development, and overseas market expansion.

Chuangjian Medical was established on June 18, 2015, with a registered capital of 38.168175 million RMB, and its legal representative is Qian Song. Chuangjian Medical is a technology innovation enterprise focusing on the research, production, and sales of new biomaterials and innovative protein/nucleic acid drugs. It has long-term investments in the field of life health new materials such as damage repair and tissue regeneration.

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For overseas weekly financing events, recommended projects, and policy updates this week, see the full report.

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*This is the simplified version of Pro Weekly Report*

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