SINGAPORE, November 1, 2021 / PRNewswire / – Carcell Biopharma (“Carcell”, the “Company”) today announced the closing of an oversubscribed financing. The round was led by Hyfinity Investments, with participation from BioTrack Capital, Legendstar Capital and other investors.
Carcell Biopharma is a preclinical biotechnology company incubated by EVX Ventures. Following a “platform of platforms” model, Carcell’s vision is to host multiple platform technologies that will lead to next-generation cell and gene therapies. Two main platforms have been established around red blood cells modified for immunomodulation and delivery of non-viral genes using lipid nanoparticles. The company is founded by XQ Lin, Chairman and Founder of EVX Ventures and Dr Jiahai Shi, Associate Professor at City Hong Kong University. The founding team is joined by Lanlin Wu, the former CEO of Dendreon China, as well as other biotech industry veterans with previous work experience at renowned biotech companies at Boston and Singapore.
Carcell is powered by a top-notch R&D team in Singapore and intends to establish a site in Boston in the near future. The funds will also be used to build an integrated 6,000 m² R&D and manufacturing center in Shanghai, supporting the preclinical development of drug candidates into studies enabling IND. Operating through the Singapore–Shanghai–Boston axis, Carcell leverages all the advantages of each region in the discovery, manufacturing and clinical phases of drug development.
XQ Lin, President and Founder of Carcell Biopharma, commented, “Carcell builds on EVX Ventures’ global track record of incubating new modality platform companies. Our innovative business model will allow us to accelerate the development of innovative drugs to meet unmet medical needs. “
Dr. Xin he, Managing Partner and Founder of Hyfinity Investments, said, “Hyfinity is pleased to support Carcell financially and also to build a world class team in China. The company is a rare combination of a strong management team, with a solid foundation in red blood cell technologies and non-viral delivery know-how. We look forward to being a long-term investor, supporting the management team in their efforts to build a globally competitive cell and gene therapy platform company. “
Carcell develops cell and gene therapy products with an innovative cross-border business model. Through its global access to scientific and industrial resources, Carcell will bring the world’s best technologies to patients with cancer, autoimmune diseases and rare diseases in China. With a broader vision of “China for Global “, Carcell will continue to develop its technology and product pipeline to deliver innovative therapies to broader patient populations in the global market.
About EVX Ventures
EVX Ventures is a global VC that builds, incubates and invests in biotechnology companies. By focusing on disruptive therapeutic platform technologies and new therapeutic modalities, they are investing in global technologies to redefine the therapeutics of tomorrow. Find out more on www.evx.ventures
About Hyfinity Investments
Hyfinity Investments is led by senior partners from leading investment institutions in China, with years of experience in healthcare investments, local operations and overseas licensing. Hyfinity Investments is dedicated to advancing global innovations in high unmet need diseases, leveraging the rich clinical resources of China. Their mission is to foster industry leaders through the convergence of resources on a global scale. Learn more at www.hyfinityfund.com
About BioTrack Capital
Founded in 2017, BioTrack Capital is a dedicated healthcare venture capital firm focused on building and incubating innovative life science companies in China. We are continually seeking to discover innovative biotech companies, innovative medtech companies and innovative healthcare business models that are led by exceptional entrepreneurs.
SOURCE Carcell Biopharma Inc.