Levostar Biotech Secures Tens of Millions RMB in Seed Funding to Advance Clinical Testing and Manufacturing for Cell and Gene Therapies

VCBeat learned at the earliest opportunity that,In early April,Suzhou Levostar Biotechnology Co., Ltd. (hereinafter referred to as “Levostar Biotech”) announced that it has completed a seed financing round worth tens of millions of yuan, led by LYFE Capital and followed by Peppermint Angel Fund. The funds raised in this round will be primarily used for the expansion of cell and gene therapy-related services, product development, and the construction of manufacturing facilities.

Levostar Biotech was established in early 2022. Its team comprises professionals with extensive experience in cell and gene therapy (CGT) and corporate management, dedicated to providing testing and manufacturing services for clinical CGT products and therapies. The company has developed clinical testing services for cell therapy platforms, viral vector platforms, and mRNA vaccine and therapeutic platforms. Additionally, it has established GMP-grade manufacturing processes for plasmids and mRNA, along with quality control methods for in-process materials, thereby contributing to the acceleration of CGT and mRNA drug development.

Dr. Wu Xin, Founder and CEO of Levostar BioHe stated, “We extend our sincere gratitude to our investors for their trust and support. The gene and cell therapy industry is experiencing a robust emergence and is poised to expand rapidly on a global scale. It is highly likely to become the next wave of innovative drugs and therapies following small-molecule and antibody-based medicines, providing new powerful tools for conquering human diseases and offering enhanced safeguards for human health. Left-Hand Star Biotech is deeply committed to becoming an integral part of this emerging industry, leveraging our professional expertise and experience to serve as a driving force for its rapid development.”

Hu Xuyu, Managing Partner at Jifeng Capital“He stated, ‘The rapid development of life sciences has spurred the emergence of new technologies. Cell and gene therapy (CGT) and mRNA technology, which have achieved breakthrough progress in recent years, have generated substantial demand for outsourced services across the industry chain. As a startup, Levostar has implemented innovative strategies and achieved technological breakthroughs in key stages of CGT and nucleic acid drug development, delivering high-quality services and value to downstream industries. Dr. Wu Xin, the founder, is a seasoned industry expert with extensive management experience and commendable entrepreneurial spirit. We are deeply grateful to Dr. Wu for choosing Jifeng Capital as a long-term strategic partner to jointly promote high-quality development in the industry.’”

Men Shuai, Partner at Peppermint Angel Fundstated: “We focus on investing in innovative pharmaceutical teams and have observed that the rapid development of the CGT industry is a major trend in the life and health sector, with an increasing number of outstanding companies and pipelines emerging in recent years. Unlike the traditional drug development industry, the CGT sector involves complex and multifaceted product development processes. High-quality and efficient CGT CROs can provide strong support for industry growth. The Levostar team has deep expertise in the industry, possesses a clear understanding of client needs, and brings extensive industrial accumulation and corporate operational experience. We believe that Levostar can empower the development of CGT drug companies and contribute to the industry, and Peppermint will do its utmost to support the company’s growth.”

Jifeng Capital, founded in 2015, is a premier venture capital firm dedicated to the healthcare and medical sectors. By empowering companies through comprehensive value-added services and a global perspective, we drive innovation with the aim of delivering long-term value to the development of the medical industry and human health. Staying true to our entrepreneurial roots, we consistently uphold the spirit of “professionalism, humility, and diligence.” We are committed to serving entrepreneurs as strategic partners over the long term, helping them establish a strong foothold in China while maintaining a global vision, ultimately guiding them to become great enterprises.

Peppermint Angel Fund, established in 2015, is China’s first healthcare angel investment fund dedicated to early-stage innovative R&D enterprises. It is committed to becoming China’s premier platform for identifying, nurturing, and incubating early-stage biotechnology projects and facilitating technology transfer. The fund’s seasoned investment team collaborates with a “think tank” of world-class scientists, business leaders, and entrepreneurs. It focuses on cutting-edge life science technologies urgently needed in the Chinese market, as well as the development of novel drugs targeting new mechanisms and targets in oncology, autoimmune diseases, and anti-infective therapies. Additionally, the fund strategically invests in innovative precision medicine solutions, including early disease screening and molecular imaging. By leveraging a deep understanding of the pathways and cycles of technology commercialization, the fund aims to enhance the success rate and accelerate the growth of its portfolio companies.