Immunocan raised 50 million RMB in pre-A financing, led by Kingray Capital

Immunocan raised 50 million RMB in pre-A financing, led by Kingray Capital

The following article is from: VBData, translated by ChatGPT. All rights belong to their respective owners.

On August 16th, according to the report from the investment community, Shanghai Immunocan Biotech Co. (hereinafter referred to as “Immunocan”), a fully human antibody drug development company, has completed a Pre-A round of financing of RMB 50 million recently. The round was led by Xicheng Jinrui and followed by Taiyu Investment, with Rui Ling Capital serving as the exclusive financial advisor. The funds raised in this round will mainly be used for the construction of a fully human antibody discovery platform and early-stage monoclonal antibody drug development.

Founded in 2020, Immunocan is currently a bio-pharmaceutical company in the early stages of development. Its goal is to apply gene editing technology to create a new antibody drug platform to promote research in bio-pharmaceuticals and the development of new targeted drugs. The company is committed to providing a world-class, domestically leading antibody drug discovery platform to enhance the overall research and development level of China’s bio-pharmaceuticals. Its aim is to build an international first-class biotechnology platform and a world-class bio-pharmaceutical research and development base.

Dr. Zhou, the founder, introduced, “Our self-developed core gene editing replacement technology can replace DNA fragments of several megabases in a single step. It is a groundbreaking technology that is less time-consuming and has no species restrictions. This technology is expected to shine in the development of bio-pharmaceuticals, benefiting all of humanity.” In addition, Dr. Zhang, the co-founder, brings research and development experience and a system from a leading cancer center in the United States. Through this platform, Immunocan has great potential in the field of antibody drug research and development. The company hopes to bring precise, efficient, and safe antibody drugs to patients, significantly improving the quality of life for cancer patients.

Dr. Huang, the chairman of Xicheng Jinrui, said, “Fully humanizing antibodies is the direction of iterative development in antibody drug technology, with a huge potential market. Immunocan is one of the few companies in the world with independently-owned intellectual property rights in fully humanized antibody platforms. We have great confidence in Dr. Zhou’s leadership and the founding team, and hope the company can complete the relevant platform research and development as soon as possible to provide better services to patients.”

Dr. Ji, the founder and general manager of Taiyu Investment, said, “The Immunocan team has in-depth research on gene editing, embryo microsurgery, and reasonable matching with independently-owned artificial chromosome vectors. The company can achieve single-step editing and replacement of large gene fragments, building an upgraded fully human antibody drug research and development platform. This is of great benefit to the development of biological products in China. We hope that Immunocan can complete the platform construction as soon as possible to bring safer and more efficient biological products to patients.”