Qihan Biotech Snared $25.5 Million in A+ Round of Financing

According to PEdaily, Hangzhou Qihan Biotechnology Co., LTD (Qihan Biotech) announced that it had completed the A+ round of financing of 25.5 million dollars, led by CMB International, followed by Legend Star, Xinyi Biological and Bacui Capital, and former investors Sequoia Capital China, Northern Light Venture Capital and other investors in the A round. So far, the total financing amount of Series A comes to 33 million dollars.

Qihan Biotech was founded by George Church, a professor at Harvard University, and Dr. Luhan Yang, a synthetic biologist. Qihan Biotech is committed to producing safe and effective cells tissues and organs for human transplantation, so as to solve the serious shortage of organ transplantation donors in China and the world.

"Qihan Biotech is dedicated to serving patients and bringing hope to the millions of patients and their families waiting for organ donations. This round of financing will be mainly used for pre-clinical research and development of xenotransplantation. With advanced and high-throughput gene-editing technology, Qihan will expand the application of gene-editing in medical and other fields," said Dr. Luhan Yang, the co-founder and CEO of Qihan Biotech.

CMB international is a comprehensive and professional financial institution based in Hong Kong. Relying on China Merchants Bank's strength and its social reputation, CMB International provides Hong Kong listing sponsor and underwriting, placement of listed companies and rights, financial advisory, bond issuance services, asset management, direct investment, wealth management, stock sales and trading and other financial services.

Legend Star helps entrepreneurs create great businesses through investments, CEO training sessions, and an entrepreneurs alliance. Since 2008, Legend Star has incubated and invested in nearly 600 companies and is deeply integrated into the Chinese entrepreneurial ecosystem.

Legend Star is the independent early-stage investment arm of Legend Holdings. Legend Holdings is the parent company of Lenovo, Raycom Real Estate, Joyvio Agribusiness and a large range of fast-growing Chinese companies.