On August 21, Eluminex Biosciences (Suzhou) Limited ("Eluminex Biosciences") announced that following the completion of a $40 million Series B financing round in February 2023, the company has successfully completed a Series B+ financing round from Oriza FoFs Investment Management and Suzhou Sue XinYi and Investment Management Co., Ltd. This year, Eluminex Biosciences has raised over $50 million in venture capital to rapidly advance multiple preclinical and clinical projects.
Eluminex Biosciences was founded in February 2020 as a biopharmaceutical company focusing on ophthalmic diseases and recombinant human collagen technology. The company's headquarters, R&D center, and GMP production facilities are located in BioBAY, Suzhou Industrial Park, with an international clinical and registration center set up in the San Francisco Bay Area, USA.
It is reported that the management team of Eluminex Biosciences has extensive experience in innovative drug and medical device R&D from globally renowned biopharmaceutical companies. They have led and participated in the R&D and launch of dozens of products, including blockbuster products with annual sales reaching billions of US dollars. It is an entrepreneurial team rooted in China with an international perspective. Previously, Eluminex Biosciences has completed multiple rounds of financing, with investments from well-known institutions such as Lilly Asia Ventures, Quan Capital, Hillhouse Venture, Qianji Capital, Yuexiu Industrial Fund, BioTrack Capital, and Oriza FoFs Investment Management.
In the field of ophthalmology, Eluminex Biosciences is developing multiple next-generation anti-VEGF multi-target biologics for the treatment of retinal diseases associated with age-related and diabetic conditions. Its initial program is planned to enter clinical trials in the United States in 2024. In regenerative medicine, Eluminex Biosciences is committed to becoming a global leader in recombinant human collagen technology. The company has developed the ability to express and purify full-length human collagen with a triple helix structure through synthetic biology technology, as well as a commercially scalable production process. Recombinant human collagen with a triple helix structure has broad applications in tissue repair and regeneration, including the biosynthetic cornea under development by the company as an alternative to human allogeneic corneal transplantation.
Dr. Jinzhong Zhang, Founder, Chairman and CEO of Eluminex Biosciences, said: "We are very grateful to our new investors and existing venture partners for their recognition and support of the company and its mission. The funds raised in this round provide the company with a solid financial foundation to advance our programs and develop first-class innovative therapies to address unmet clinical needs in the global ophthalmology and regenerative medicine markets."