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SUZHOU-BASED BRIGHTGENE RAISES PRE-IPO ROUND

Release time:2019-01-7 Browse:1107

BrightGene Bio-Medical Technology Co. Ltd. (Suzhou, China) raised RMB550 million ($80.3 million) in a venture round. The company described the funding as a "pre-IPO round," but did not immediately respond to an inquiry about its plans for a listing.


Sequoia Capital China and HighLight Capital led the round, with additional participation by GF Qianhe.


BrightGene’s pipeline includes oral glucagon-like peptide-1 receptor (GLP1R) agonist peptides for Type II diabetes, immuno-oncology agents, antibody-drug conjugates for solid tumors and other tumor-targeting drug conjugates for brain cancer. The company also manufactures APIs and finished dosage forms of specialty generic drugs.


In addition to R&D spending, BrightGene intends to increase the capacity of its raw materials plant and construct a production plant for complex injections. BrightGene expects the manufacture of complex injections for the global market to be a main source of future profits.

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