Lyvgen, a China-based immunotherapy developer backed by 6 Dimensions Capital, the investment spinout of pharmaceutical group WuXi AppTec, has secured a nine-digit yuan (RMB100m = $15.5m) amount of series C funding.
Venture capital firm IDG Capital led the round, which included Chengwei Capital, FTZ Fund and Suzhou Longmen Ventures.
Founded in 2016, Lyvgen is working on immuno-oncology therapeutics to treat skin, lung and gastrointestinal cancers. Its xLinkAb platform helps the body form agonistic antibodies, which produce immune responses against malignant tumours.
China Renaissance facilitated the deal, and its head of healthcare and life sciences, Yijing “Kevin” Xie, said: “We believe that the successful completion of this round of financing will help Lyvgen accelerate its development and eventually bring the benefit of innovation to cancer patients.”
6 Dimensions Capital led a $30m series B round for the company in 2018, particpating alongside 5Y Capital (then Morningside Ventures), Runling Capital and Winfair Global, with Morningside identified as a series A investor.
