Genechem Completes ￥400M Series C Financing, To Accelerate the Development of Innovative Medical Products

According to PEdaily.cn, Shanghai Genechem Co., Ltd. ("Genechem") has recently completed the Series C financing of nearly 400 million yuan, with participation from new investors, including Wuhan Renfu Biological Pharma Industry Investment, Shanghai Zhangjiang Technology Venture Capital, Shanghai Yuhan Equity Investment Fund, Zhejiang Zhuji Lianchuang Yongjun Equity Investment, Shanghai Free Trade Zone Equity Fund, and existing shareholders Principle Capital and InnoSpring. 

Proceeds of this round will be used to develop innovative diagnostic and treatment products with translational medicine as the core, and help the development of the new drugs for special diseases with high incidence in China.

Established in 2002, Genechem is a developer of innovative diagnosis and treatment products based on translational medicine. Translational medicine is a mature model of innovative drug development in foreign countries, but it is still in its infancy in China.

Genechem is committed to cooperating with physician-scientists to cope with the R&D problem of new drugs in specific diseases with high incidence and develop the Chinese own innovative drugs. Genechem has studied in the international development mode of drugs for 17 years and now has been built a comprehensive research and development system from basic research, preclinical research to clinical research.

At the beginning of 2020, Genechem was awarded the "Shanghai Engineering and Technology Research Center for Targeting Gene Therapy to Cancer" and the "Shanghai Innovation Center for Gene Therapy Technology", both of which were approved by the Shanghai Science and Technology Committee (STCSM). 

FTZ Fund is the first Free Trade Zone fund in China. Established in December 2014, the Fund has an initial size of 5 billion CNY with a maturity of 5-7 years.  It mainly invests in the equity projects in leading areas in the FTZ, such as logistics, cross-border e-commerce, smart manufacturing biopharmaceuticals, IT, culture, and Internet finance.

Founded in 2002, Principle Capital is a private equity investment firm based in Shanghai investing in Chinese middle cap market companies. It has invested in over thirty companies across four focus sectors, including advanced industrials, business services, healthcare and consumers.