Backed by Shanghai Fudan University previously, Virogin Biotech will invest the series C proceeds in its clinical drug programmes and securing industry partnerships.
Virogin Biotech, a China-based cancer drug developer backed by Fudan University, has received $62m in a series C round co-led by alternative asset manager CDH Investments, DealStreetAsia reported on Monday.
CMG-SDIC Fund, a partnership of investment manager China Merchants Capital and state-owned investment unit SDIC Fund Management, co-led the round, which also featured the Canadian branch of Peking University’s alumni organisation.
Korea Investment Partners, Panlin Capital and Xiaoxi Holdings filled out the series C round.
Virogin Biotech engineers oncolytic viruses to form cancer vaccine candidates with the potential to selectively infect and destroy cancerous cells.
The company claims that its platform provokes a strong antiviral immune response that leads to long-term protection against tumour growth.
The series C capital will allow Virogin to seek industry partnerships and prepare its existing drug portfolio for the clinic.
Virogin Biotech’s lead candidate, VG161, has been cleared for…
