Cullgen, the US-based drug discovery platform developer backed by life sciences research and development firm GNI Group, has landed $16m in series A funding.
The round was co-led by venture capital firm Sequoia China Capital and investment firm Highlight Capital and it came after the company had received up to $15m in seed funding from GNI in March 2018.
Cullgen is has created a drug discovery platform that identifies and destroys disease-causing proteins by stimulating the body’s ubiquitin proteasome system, which regulates proteins and degrades misfolded proteins.
The capital will fund development of a pipeline of treatments targeting cancer and other diseases. A representative from Sequoia will also join Cullgen’s board of directors.
Ying Luo, chairman and president of Cullgen, said: “Since our founding in early 2018 we have made significant advancement of our targeted protein degradation platform which has directly led to the identification of several preclinical assets that we are rapidly advancing towards the clinic.”
Image courtesy of Cullgen (USA) Inc.