Transcenta Holding Limited, a global biotherapeutics company with integrated capabilities in discovery, development and manufacturing of antibody-based therapeutics, completed a 105m USD crossover financing.
China Structural Reform Fund led the financing round, participated by new investors including Country Garden Venture Capital, Qatar Investment Authority, and other prominent institutional investors. Existing investors including CCT China Merchants Fund, Lilly Asia Ventures, Teng Yue Partners, Sequoia Capital China and others also participated in this round.
The proceeds from new funding will be used to accelerate ongoing clinical programs and prepare for commercialization.
Led by Dr. Jonathan Y. Zhao, Co-Founder and Chairman, and Dr. Xueming Qian, Co-Founder and CEO, Transcenta is a global biotherapeutics company that fully integrates antibody-based biotherapeutics discovery, development and manufacturing. Transcenta has established global footprint with Discovery and Translational Research Center in Suzhou, Process and Product Development Center and Manufacturing Facility in Hangzhou, and Clinical Development Centers in Princeton, US and in Beijing, Shanghai and Guangzhou in China, and External Partnering Center in Boston, US.
In 2020, TST001, a CLDN18.2 targeting antibody and one of its leading programs, has been moving quickly in clinic in both US and China. Transcenta will also file IND soon for TST005, a second generation PDL1-TGFβ bifunctional molecule and has also expanded its Hangzhou facility with a fill & finish line as well as 2000L bioreactors. Its perfusion biomanufacturing platform has achieved further breakthroughs including achieving industry leading productivity of more than 4 g/L per day for multiple cell lines and successful scale-up of perfusion process to 200L for GMP production for an in-house bispecific antibody. Within the past months, the company has also signed strategic partnership with international technology innovators such as Merck KG to advance its continuous manufacturing technology capabilities.