Creative Biosciences Raises ￥600M in Series C Funding Round

According to VCBeat, on September 27, 2020, Creative Biosciences (Guangzhou) Co., Ltd. ("Creative Biosciences"), announced that it had raised 600 million yuan in a Series C round led by Tsing Song Capital, with participation from new investors including state-backed GDD Industry Fund Investment Group, Oceanpine Capital, Judu Investment, Linden Asset, Sharewin Capital, Guangzhou Jinkong Fund, and Think Real.

Returning backers IDG Capital and CDH Investments also poured money in the fresh round. IDG together with CDH, CDBI Partners, Jinhe Fund, and Jinheng Fund had seeded 300 million yuan in Creative Biosciences in April 2019.

Proceeds from this round will be used for the R&D, clinical trials, sales channel expansion, market promotion and team-building of various early screening products and point-of-care testing  (POCT) products for lung cancer, bladder cancer, liver cancer, and cervical cancer, aiming to consolidate Creative Biosciences' leading position in the cancer screening industry.

Creative Biosciences is an advanced biotech company founded by the research team led by professor Hongzhi Zou at Sun Yat-sen University. Since its establishment in 2015, Creative Biosciences has been committed to the research, development, production, and sales of COLOSAFE^® (the methylation detection kit for human SDC2 gene) and other tumor early screening products. 

COLOSAFE^® was approved and licensed by the National Medical Products Administration (NMPA) on November 20th, 2018, becoming the first licensed stool DNA testing kit for colorectal cancer in China.

In addition, Creative Biosciences has developed a variety of early screening products of cancers with high incidence and a number of technical platforms, and actively built comprehensive sales channels. The company's R&D, production and sales are in high-speed development.

Tsing Song Capital is a professional investment firm focusing on biotechnology and healthcare. It is committed to research-driven investment and growing with the best innovative biomedical companies to promote technological and commercial innovation in China's life sciences and healthcare industry.

Oceanpine Capital is a professional investment management firm dedicated to long-term investment in high-growth enterprises and start-up companies. It focuses on investment opportunities in the TMT, consumption upgrade, advanced manufacturing, and healthcare sectors.