Week In Review: Eluminex Raises $50 Million For Ophthalmology Drugs

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Deals and Financings

  • Eluminex Biosciences, a Suzhou ophthalmic biotech startup, closed a $50 million Series A Financing from Lilly Asia Ventures, Hillhouse's GL Ventures, and Quan Capital (see story). The company will discover and develop first-in-class and/or best-in-class therapies that address unmet vision-threatening diseases for global markets. Further details were not disclosed. Eluminex's headquarters and R&D facility are located in Suzhou, its business center is in Shanghai, and a global clinical and registration center is planned for the San Francisco Bay Area.  
  • Beijing Gene+, a company using next-gen sequencing for oncology diagnostics, raised $38 million in a Series B round (see story). Gene+ has developed NGS and genetic big data platforms to support four major businesses: clinical testing, medical equipment, scientific-technological cooperation, and early tumor screening. In 2019, the company announced its domestically produced sequencers, kits, and supporting software were all certified for use in China. Its first funding was led by China sequencing company BGI.  
  • PreGene, a Shenzhen biotech, closed a $21 million B financing as it looks forward to an IPO on the Hong Kong exchange (see story). The funding was led by Haier Biomedical. PreGene  claims to have the world's only fusion drug and nano-antibody drug biotechnology R&D platform. Founded in 2012, PreGene is also developing TCR-T, CAR-T, and stem cell candidates. Its BCMA CAR-T candidate is approved to start clinical trials in China.  
  • Genetron Health (GTH), a Beijing-North Caroline diagnostic company, announced a city-wide early screening test for liver cancer in Wuxi city using the company's blood-based HCCscreenTM (see story). The initiative will administer 150,000 tests over three years in patients who are at high risk for developing liver cancer. In clinical trials, the HCCscreen has shown a 92% sensitivity and 93% selectivity. The city-wide initiative is led by Wuxi's municipal government and administered by China's National Cancer Center.  
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