CureGenetics raises $17 million in Series A Financing
SUZHOU, China, Aug. 6, 2018 /PRNewswire/ -- Cure Genetics Co., Ltd ("CureGenetics"), a biotechnology company dedicated to the development of life-saving transformative medicines and molecular diagnostics using best-in-class gene editing technologies, announced the closing of $17 million Series A financing, led by Qiming Venture Partners. Additional investors included CTS Capital and Ascendin Investment. The company intends to use the proceeds to further optimize its gene editing and delivery platform, to sponsor IND application and clinical trials, and to develop its diverse pipelines.
"Being a unique player of this field, we have recruited top-tier scientists and business partners to develop and promote our proprietary technology platform," said Dr. Yuanyuan Xu, Co-founder and CEO of CureGenetics. "We are delighted by the votes of confidence from all the investors, and this financing puts us in strong position to accelerate the development of multiple pipelines, and to keep investing in these game-changing technologies."
"We are very pleased to support the growth of CureGenetics," stated Nisa Leung, Managing Partner of Qiming Venture Partners. "We believe that the outstanding technology platform and the top-class talents will continue to help advance the company as well as the gene editing research."
"Gene editing has great potential in clinical applications and commercialization," said Song Zhang, Founding and Managing Partner of CTS Capital. "We are confident that CureGenetics, as one of the most competitive players in this field, will lead the cutting-edge industry worldwide."
About Qiming Venture Partners
Founded in 2006, Qiming is a leading China venture capital firm. Currently Qiming manages seven US Dollar funds and five RMB funds with US$4 billion assets under management. Since its debut, Qiming has backed over 280 young, fast-growing and innovative companies across China in the internet and consumer ("Intersumer"), healthcare, information technology and clean technology sectors. Over 50 of them are already listed on NYSE, NASDAQ, HKEx, GRETAI Securities Market, Shanghai Stock Exchange, and Shenzhen Stock Exchange or achieved exit through M&A. Qiming consistently ranks among the top venture firms in terms of returns to its investors.
About CTS Capital
CTS Capital is a healthcare-focused fund investing in the top players of the medical vertical sector including ininnovative biotechnology, medicine, medical device and service, who has strong ability in the integration of industry resources. Currently CTS Capital manages multiple funds in both US Dollar and RMB, and the core members are from top-tier PE funds and healthcare MNCs, with extensive experience in both healthcare and private equity industries.
Established in 2016, CureGenetics is a biotechnology company co-founded by pioneers in CRISPR enabled applications. With its world-class gene editing and delivery platforms, the company is committed to developing cutting-edge applications of gene-editing technology in transformative medicines and molecular diagnostics, which will contribute to treating easy-to-relapse or hard-to-treat cancers and genetic diseases.