Bioheng Biotech Co., Ltd., a Nanjing, China-based clinical-stage biotechnology company dedicated on developing novel cellular immunotherapy for cancer, raised $80m in Series B financing.
The round was co-led by GL Ventures, the venture capital unit of Hillhouse Capital, Decheng Capital and Octagon Capital, with participation from BlueRun Ventures China and Shenzhen Capital Group Company.
The company intends to use the funds to advance R&D capabilities, process development and clinical trials.
Led by Dr. Xiaohong He, Founder and Chief Executive Officer, Bioheng is a clinical-stage biotech company focusing on the development and commercialization of novel allogeneic cellular immunotherapy for immediate treatment to cancer patients, which may increase the affordability and accessibility through overcoming obstacles encountered by autologous cell therapy. The company has established an allogeneic immunotherapy platform and built a 75,000 square feet high standard GMP-level translational center and manufacturing plant, which is equipped with a complete closed and semi-automated production system in compliance with both NMPA and FDA regulatory guidelines.