China-based immunotherapy developer Shanghai Cell Therapy has raised RMB275m ($39.6m) in a series C1 round backed by Legend Capital, the VC firm formed by conglomerate Legend Holdings, China Money Network reported today.
The round was led by China Industrial Asset Management, the private equity subsidiary of financial services firm Industrial Bank with a $25.9m commitment.
Founded in 2000, Shanghai Cell Therapy offers cancer diagnosis and treatment services, and also provides related offerings such as cell cryopreservation, gene detection, cell related production, health consulting and a clinical medical database.
The company did not disclose what it intends to do with the newly raised funding.
Legend Capital previously led a $26.6m series B round for Shanghai Cell Therapy in 2016. Shanghai Cell Therapy has not revealed any further funding details.
