CGene Tech Received More Than $14 Million In Series A+ Financing

According to VCBeat, CGene Tech just received more than 14 million dollars in Series A+ financing. This round of financing was led by Hongtai Capital, and followed by ABC International. The funds will be used to advance the clinical trial of new hypoglycemic drugs and support other drug development programs.  

CGene was founded in 2010 by Dr. Qiang Yu. The company is committed to the development, production and sales of small molecule innovative drugs. The company's core product is DPP-4 inhibitor hypoglycemic medicine, and has completed the Phase 1 clinical trial. At the same time, the company will continue to build new drug product lines in the field of diabetes and cancer, and simultaneously promote the development and production of generic drugs in the field of rare diseases.

Hongtai Capital is a private equity and venture capital firm that specializes in direct and fund of funds investments through Aplus Fund and Aplus Capital.

ABC International is an investment banking business flagship of the Agricultural Bank of China.