GenFleet Closes on ￥400M Series B Funding Round

According to PEdaily.cn, GenFleet Therapeutics (Shanghai) Inc. ("GenFleet") has announced the completion of its series B financing of nearly 400 million yuan, co-led by CDH Investments and Shenzhen Capital Group, with participation from South China Venture Capital, Panlin Capital and existing investors Sinopharm Capital, Lake Bleu Capital and Highlight Capital. Zeyue Capital, BOCOM International, Puen Guoxin Equity Investment Center, and R&G PharmaStudies also participated in the latest round.

Proceeds of this financing will mainly be used for the foreign applications and clinical trials of GenFleet's existing pipelines, the expansion of the immunology platform, the launching of new projects and the construction of industrial bases.

Founded in 2017, GenFleet is a China-based R&D biotech company pursuing innovative therapeutic molecules – small and large. GenFleet focuses on developing cutting-edge products, which potentially serve as globe-wise front runners among "first-in-class" therapeutics with novel mechanisms of actions. The company has a robust and novel pipeline spanning across numerous oncology and immunology therapeutic 

The self-developed new drugs of GenFleet are all original products with sufficient technical advantages and huge market space. The first independent research and development project of GenFleet was approved to enter the clinic by China's drug regulatory authorities in less than two years, and the follow-up product pipeline is also under promotion. It is expected that more projects will be applied for clinical application at home and abroad this year.

Established in 2002, CDH is one of the leading alternative investment fund managers focused on China today with over US$19 billion of assets under management, as of February 31, 2020. From its roots in private equity, CDH has expanded to become a diversified alternative asset management platform covering: Private Equity, Real Assets, Venture and Growth Capital, Mezzanine & Credit, Public Equities and Wealth Management.

SCGC is a limited venture capital company established by Shenzhen Government in 1999. SCGC has a registered capital of 5.42 billion yuan. It primarily invests in SMEs, innovative high-tech enterprises, enterprises in emerging industries, and enterprises in start-up period, growth period and in transformation, covering industries supported by national policies, including IT, internet, new media, biopharma, new energy, environmental protection, chemical engineering, new material, high-end equipment manufacturing, consumption goods, modern service, etc.