Qihan Bio Secures $25.5 Million Series A+ Financing Led by CMB International

Investment Circle (WeChat ID: pedaily2012) reported on September 23 that Hangzhou Qihan Biotech Co., Ltd. announced the completion of a $25.5 million Series A+ financing round, led byCMB InternationalLead Investment by Capital,Legendstar, Xinyi Biotech, BC.Capital co-invested, Series A investorsSequoia CapitalChina Fund,Aurora BorealisContinued follow-on investment. In July 2018, Qihan Biotech secured its Series A financing, bringing the total amount raised in the Series A round to $33 million.

Hangzhou Qihan Biotech Co., Ltd. was co-founded by Professor George Church of Harvard University, a dual member of the U.S. National Academy of Sciences and the National Academy of Engineering, and Dr. Luhan Yang, a synthetic biologist. The company is dedicated to leveraging world-leading gene-editing technologies to produce safe and effective cells, tissues, and organs for human transplantation, thereby addressing the severe shortage of organ donors in China and worldwide.

Zhou Kexiang, Managing Director of China Merchants Bank International Capital, stated regarding the investment in Qihan Biotech: “China Merchants Bank International has long focused on the development of the broader healthcare industry. Qihan Biotech boasts a grand vision, a team dedicated to seeking truth and innovation, and world-leading gene-editing technology. We are firmly committed to providing comprehensive support to this outstanding team as they strive to realize their entrepreneurial dreams, helping scientists translate research achievements into practical applications to address the critical medical and social challenge of the severe global shortage of organ donors for transplantation.”

Dr. Luhan Yang, Co-founder and CEO of Qihan Biotech, stated, “Qihan Biotech is committed to serving patients through rigorous research and development, striving to bring hope to the millions of patients and their families awaiting organ donations. The proceeds from this financing round will be primarily used for preclinical research and development in xenotransplantation. Qihan possesses the world’s most advanced and high-throughput gene-editing technologies, and the company will strategically expand the application of gene editing in healthcare and other fields.”