TargetRx Closes ￥150 million Series A Funding Round

According to PEdaily.cn, Shenzhen TargetRx, Inc. ("TargetRx") has announced the completion of its Series A financing of 150 million yuan, led by CCB international's Jianxing Fund, with participation from Oriental Fortune Capital, Tsing-Yuan Capital and the existing shareholder Shenzhen Capital Group.

Proceeds from this round will mainly be used for TargetRx's clinical researches on small molecule drugs for the treatment of chronic myelogenous leukemia and non-small cell lung cancer, as well as the R&D of other targeted drugs.

Founded in August 2014, TargetRx is a Sino-American joint venture, high-tech pharmaceutical R&D company. When established, the company won the investment from famous angel institutions in China with a registered capital of 80 million yuan. The company focuses on the R&D of targeted drugs and aims to become the world's leading research and development platform for targeted drugs.

Dr. Yihan Wang, the founder of TargetRx, graduated from New York University, is an internationally well-known medical expert with over 16 years of oversea working experience in the field of small molecule targeted anti-cancer drugs, and is the key inventor of international forefront drugs, such as IClusig (Ponatinib), Alunbrig (Brigatinib), and Ridaforolimus. 

With the global desideration of novel small molecule targeted anti-tumor drugs, TargetRx designs, screens, evaluates, optimizes, and researches original series of the 3rd generation small molecule anti-tumor drugs that have independent intellectual property rights. 

TGRX-678 is the 4th generation Bcr-Abl inhibitor developed independently by TargetRx and with fully independent intellectual property worldwide and the potential of the Best-in-Class drug. The application for the clinical trial of TGRX-678 in China was officially accepted by CDE on April 11, 2020.

Founded in 2006, OFC's team consists of more than 120 professionals working in 6 offices in mainland China and Hong Kong, managing 42 funds with assets totaling more than 20 billion yuan.

OFC invests in various business development stages through the angel, venture capital, and private equity investment vehicles. Its funds cover five industries, including Telecommunication, Media & Technology (TMT), Green Technology, New Material & Advanced Manufacturing Technology, Healthcare, and Entertainment & Consumption. 

Tsing-Yuan Capital is a market-oriented, professional and independent running PE investment fund management company with funds under management of 1.6 billion RMB in total. The company focuses on equity investments in technology companies in the growth stage. Up to now, it has invested 110 portfolio companies in the industries ranging from TMT, Greentech, biomedicine, modern agriculture, and etc.