China-based genome editing technology developer Qihan Biotechnology has secured $67m in a series A-plus-plus round featuring Lilly Asia Ventures, a strategic investment vehicle for pharmaceutical firm Eli Lilly.
The round included venture capital firms Matrix Partners China and Sequoia Capital China as well as CMB International, a subsidiary of financial services firm China Merchants Bank.
Qihan Bio is developing cell therapies and organs for transplants, using multiplexable genome editing technology. The cash will fund the development of its product pipeline and the expansion of its manufacturing capabilities.
Sequoia China led the company’s $7.8m series A round in 2018, participating alongside Arch Venture Partners, Northern Light Venture Capital, Biomatics Capital and Alta Partners.
The series A round preceded a $25.6m series A-plus round led by CMB International and backed by Legend Star, a subsidiary of conglomerate Legend Holdings, in addition to Sequoia China, Northern Light Venture Capital and BC Capital that closed in September 2019.
