China-based xenotransplantation technology developer Qihan Biotech has raised $20m in a funding round backed by conglomerate Legend Holdings, KrAsia has reported.
Investment banking firm CMB International also took part in the round, investing alongside Legend Holdings’ seed-stage venture capital vehicle, Legend Star.
Qihan Biotech is using Crispr gene-editing technology to grow human cells, tissues and organs in pigs that will be able to be transplanted into human bodies, selectively deleting, modifying or correcting specific DNA segments.
The company completed a $7.8m series A round in July 2018 that was led by Sequoia Capital China and backed by Arch Venture Partners, Northern Light Venture Capital, Biomatics Capital and Alta Partners.