Sumgen Completed Series B+ Financing of RMB ¥200 million

date:2021-12-30      source:

Recently, Hangzhou Sumgen Biotech Co., Ltd. (hereinafter referred to as "Sumgen") announced that it has completed the series B + funding with over RMB 200 million. This funding is jointly invested by Junchuan Capital, Zheshang Venture Capital, Qianhai Wanhui and Wuxi Shangtong, and the existing investors Sinopharm CNBG, Hankang Capital and Addor Capital continue to add on. StartPointAdvisors has served as the exclusive financial adviser for this round of financing.

Sumgen is an innovation-driven biopharmaceutical company, which is committed to the development and commercialization of innovative antibody drugs for major diseases such as tumors. The company has continuous innovation capability and product export capability, and has established several innovation platforms, including several antibody discovery platforms such as mammalian cell display platform and BIMA (BI-specific/functional Macrophage Activator), BITA(BI-specific/functional T cell Activator).

Around the field of cancer, Sumgen has focused on the layout of a series of innovative products. SG301, SG404, SG12473 and other projects have completed the double report between China and the United States, entered the clinical study stage, and made positive progress; In November 2021, SG2501, the world's first anti-CD38/CD47 bispecific antibody drug wholly developed by the company, was approved by FDA to carry out clinical study, and the clinical preparations for this project in the United States are progressing steadily. The company has carried out a global patent layout for innovative antibody drugs and declared more than 60 invention patents; and reached a number of commercial cooperations with CSPC and Sinopharm CNGB. At present, the company has started the construction of international standard production base, and is committed to providing high-quality Chinese antibodies for patients all over the world.

Dr. Lv Ming, founder and CEO of Sumgen, said: "Thanks to the new and old shareholders for their support to Sumgen. Sumgen will deepen the development of innovative products and accelerate the clinical layout in an all-round way; strengthen the sustainable source innovation ability and drive the development of enterprises with innovation; build industrial transformation ability and commercialization ability, and help enterprises build the whole industrial chain. "

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