Chineo Medical Completes Nearly RMB 100 Million Pre-B+ Financing Round, Its Third Within a Year

VCBeat (WeChat: vcbeat) learned第一时间that Chineo, a Chinese cell therapy company, announced today the completion of a nearly RMB 100-million Pre-B+ round of financing. This is the third round of financing completed by the company within a year. LC Ventures, a professional institution specializing in innovative drug investments, led this round of financing, while Neovision Capital, an existing shareholder, continued to increase its investment. Previously, Chineo had received investments from several well-known medical investment institutions, including Leagene Capital, CCB International Healthcare Growth Fund, Jianxing Fund, Fenglin Capital, and Neovision Capital.

Chineo's Self-Developed "ScTIL" Immune Cell Technology

Sun Hangcheng, Managing Partner of LC Ventures, stated: "We have already experienced the era of protein drugs and antibody drugs, and now we are ushering in the era of cell/gene therapy. If the former represents treatment for patients, the latter could mean a cure. We are thrilled to participate in the source innovation of China's cell therapy field. Chineo, as a leading enterprise in China’s cell technology, demonstrates strong competitiveness in technological innovation, product process development, and clinical transformation, achieving exciting results in ongoing clinical trials and showcasing tremendous potential. We have good reason to believe that ScTIL, developed by Chineo, combines multiple advantages such as safety, efficacy, broad-spectrum applicability, excellent drug-like properties, and optimized costs, with the potential to become a disruptive cancer therapy."

LC Ventures is a fund management company focused on the field of innovative oncology drugs, and it was awarded the 2021 "Pengcheng Award TOP5 Annual Healthcare Emerging Investment Institution." With a deep understanding of China's biopharmaceutical industry and clinical research ecosystem resources, LC Ventures prioritizes investments in revolutionary new technologies and products within the biopharmaceutical sector, while deeply exploring outstanding early-stage innovative drug companies.

Pioneering Innovation, Upholding Medical Ethics. LC Ventures adheres to the concept of innovation, growing together with our portfolio companies, empowering China's innovative pharmaceutical enterprises with ecosystem industry resources, and contributing to the healthy development of China's biopharmaceuticals industry.

Neovision Capital is a professional institution specializing in innovative entrepreneurial investment and mergers and acquisitions in the healthcare and high-tech sectors, having invested in numerous high-growth enterprises within the biopharmaceuticals and high-tech industries. In the biopharmaceutical field, representative projects include Allist Pharmaceuticals (688578), Acro Biosystems (301080), Hualan Group (301093), Rendu Biotech (IPO registration approved), Huahao Zhongtian, Jangeng Pharmaceuticals, Zhengya Orthodontics, Yimai Sunshine, Neurite Medical, Houkai Medical, Maipuqi Medical, Chineo, Changyu Pharmaceuticals, and Liangzhun Industrial, among others.