Wuhan Binhui Biotech, a China-based genetic immunotherapy developer that counts oncology therapy developer Lepu Biotech as an investor, secured RMB600m ($94.9m) in series C funding on Wednesday.
CICC Capital, a private equity subsidiary of investment banking group China International Capital Corporation, co-led the round with private equity firm Qianhai FOF and venture capital firms Share Capital and Vertex Ventures China.
The round also featured Chongqing Linhou, Hua Fang Investment, HYfinity Investments, Infinity Group, Lapam Capital, Red Bridge Capital and Zhangjiang Haoheng and undisclosed other investors.
Founded in 2010, Binhui is working on oncology therapies utilising genetic information, having developed three platforms: oncolytic viruses, antibody therapy and cell therapy. It will use the cash to carry out phase 2 and 3 trials for its lead drug candidates and create new products.
Lepu led a $16.1m series A round for Binhui in August 2018, according to PEdaily. Lapam had invested $3.2m in Binhui five months earlier, after it had joined Fortune Capital to provide $4m for the company in 2016.
