US-based oncology therapy developer Refuge Biotechnologies closed a $25m series B round yesterday co-led by biopharmaceutical product manufacturer 3SBio that featured a subsidiary of pharmaceutical research firm WuXi PharmaTech.
3SBio co-led the round with Sequoia Capital China, with participation from Sangel Capital, ShangBay Capital, DHVC, Oceanpine Healthcare and 3E Bioventures Capital. WuXi participated through its strategic investment arm, WuXi Healthcare Ventures.
Refuge Biotechnologies has developed an oncology therapeutics platform that utilises genetic alteration techniques called CRISPRi and CRISPa to target specific sensors on cancerous cells.
The company’s lead program, RB-1916, is being developed to inhibit genes associated with a form of blood cancer known as diffused large B-cell lymphoma.
Refuge will put the capital toward developing its asset pipeline, which includes other solid tumour treatments. It has not disclosed details of its earlier funding but identified WuXi Healthcare Ventures, 3E Bioventures and ShangBay Capital as existing investors.
Zhenping Zhu, 3SBio’s president for research and development, has joined Refuge’s board of directors along with Trency Gu, an associate at Sequoia Capital China.
Jing Lou, chairman and chief executive of 3SBio, said: “3SBio’s investment demonstrates our commitment to advancing cutting-edge gene engineering technologies with potential for breakthrough treatments for cancer and other diseases with unmet medical needs.”