3DMed Secures RMB 670 Million in New Financing Round Led by China State Capital Venture Investment Fund

VCBeat (WeChat ID: vcbeat) has learned that 3D Medicines, a leading integrated oncology diagnosis and treatment platform in China, recently completed a new round of financing amounting to RMB 670 million.

This round of financing was led by the China State-owned Capital Venture Investment Fund (“Guofengtou”), initiated by China Reform Holdings Corporation Ltd. (“China Reform”), a central state-owned enterprise, with co-investment from Beijing Creditease Investment Co., Ltd. (“Creditease”) and several other well-known funds.

Among them, China Guofeng was jointly established by China Reform Holdings Corporation Ltd., Postal Savings Bank of China Co., Ltd., China Construction Bank Corporation, and Shenzhen Investment Holdings Co., Ltd. This fund represents a key initiative by the State-owned Assets Supervision and Administration Commission (SASAC) to implement the national innovation-driven development strategy, with its primary investments focused on corporate technological innovation and industrial upgrading projects. CEC Capital is one of the earliest domestic investment institutions engaged in venture capital/private equity investment, having consistently focused on and led investment trends in emerging industries.

3D Medicines is dedicated to precision oncology, leveraging integrated and mined data on tumor biology, clinical diagnosis and treatment, and drug development. By implementing a tripartite business model encompassing early cancer screening, precise tumor diagnosis, and targeted drug development, the company has emerged as a Chinese pioneer in the integration of cancer diagnosis and therapy.

Founded in 2010, 3D Medicines is dedicated to providing integrated products and services for precision oncology diagnosis and treatment. Its portfolio spans early cancer screening, companion diagnostics, and new drug development, establishing the company as a leader in China’s integrated diagnostic and therapeutic sector.

In the field of precision oncology diagnostics, 3D Medicines is a leading brand in China, offering a comprehensive portfolio of tumor testing products, including histological genomic testing, ctDNA liquid biopsy, and exosome liquid biopsy. Its sales network covers more than 200 Grade IIIA hospitals across China.

In the field of new drug development, the company has strategically positioned its oncology pipeline around tumor immunotherapy, placing it at the forefront of this sector in China. Currently, the global first-in-class subcutaneous anti-PD-L1 single-domain antibody, co-developed with Alphamab Oncology, is undergoing clinical trials simultaneously in China, the United States, and Japan, making it the only innovative drug trial from China currently being conducted across these three countries. Meanwhile, follow-up products focusing on combination immunotherapy within its pipeline are progressively entering clinical development stages.

Tumor screening, diagnosis, and drug development each represent markets valued in the tens to hundreds of billions of dollars, and excelling in every segment of the industry chain is extremely challenging.

“Currently, the majority of cancer patients in China are diagnosed at an advanced stage, and only 20% receive effective treatment. The vision of 3D Medicines is to enable early detection for 70% of Chinese cancer patients in the future, ensuring they receive appropriate treatment with the right and high-quality medications,” added Xiong Lei, Founder and Chairman of 3D Medicines. “Whether through early-stage tumor screening to guide early intervention or late-stage companion diagnostics to guide personalized therapy, we are providing an entry point into cancer treatment. This diagnostic entry point not only yields highly valuable clinical data but also lays the foundation for a future integrated marketing model combining cancer diagnosis and treatment.”

Dr. Gong Zhaolong, CEO of 3D Medicines, stated, “We aim to contribute to addressing the threat that cancer poses to human health. Cancer immunotherapy has demonstrated definitive and durable efficacy, offering patients hope for a cure and becoming the mainstream direction in international oncology treatment. Leveraging our integrated platform for cancer diagnosis and treatment, we will continue to develop more products for combination cancer immunotherapies.”

Commenting on the transaction, Zhou Feng, Executive Director of China Guofund, stated, “We strongly endorse 3D Medicines’ advanced concepts and technologies in the field of precision oncology, as well as its unwavering commitment to comprehensively addressing cancer. We will provide full support in terms of capital and resources to accelerate 3D Medicines’ rapid development, working closely with the management team to establish it as a global leader in integrated oncology diagnosis and treatment.”

China Renaissance served as the exclusive financial advisor to 3D Medicines in this financing round. Hong Ailin, Partner at China Renaissance and investment banking advisor for the transaction, stated, “3D Medicines is a rare precision medicine company in China that covers the entire spectrum from early cancer screening and personalized diagnostics to clinical drug development. We believe the success of this financing round will help 3D Medicines solidify its industry leadership and advance its ambitious vision of integrating diagnosis and treatment.”

3D Medicines recently completed its Series E financing round of RMB 146 million in November 2015. It is reported that the company’s total fundraising to date has exceeded RMB 1 billion.