On January 8, 2020 Transcenta Holding Limited ("Transcenta"), a global biotherapeutics company with fully-integrated capabilities in discovery, R&D, and manufacturing of antibody-based therapeutics, reported that it has sealed a 100 million USD series B+ round (Press release, Transcenta, JAN 8, 2020, View Source [SID1234552880]). CR-CP Life Science Fund ("CR-CP") and Fortune Capital co-led the financing round, participated by new investors including Epiphron Capital, CCT China Merchant Buyout Fund, China Equity Group, as well as the existing shareholders including Lilly Asia Ventures, Temasek, Hillhouse Capital, Teng Yue Partners, Sequoia Capital China, and ARCH Venture Partners. China Renaissance acted as the exclusive financial advisor for this transaction.
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Since the merger at the beginning of last year, Transcenta has made significant progresses, for example, it has built a well-rounded team with extensive global industrial experience, assembled a robust pipeline with over 10 innovative molecules in oncology, bone disorders and nephrology, and adopted integrated continuous process and manufacturing in its Hangzhou facility, signed an exclusive license agreement for Greater China with Eli Lilly and Company regarding a portfolio of novel antibodies for bone diseases, including the phase 2-completed Blosozumab for osteoporosis, etc.
"We very much appreciate the continuous support from our existing investors and the trust from new investors. The proceeds from new funding will be used to advance lead programs, including a second generation Claudin 18.2 antibody, a PDL1-TGFβ bispecific antibody and other oncology assets with undisclosed targets, as well as Blosozumab, a transformative agent for the treatment of severe osteoporosis. In addition, Transcenta is to further expand its continuous manufacturing capability and employ it at full scale in order to reduce cost of goods, as an important competitive edge. Finally, we are planning to strengthen our senior management team to prepare for IPO," commented Dr. Xueming Qian, Transcenta’s Co-Founder and CEO.
"This is the first and successful financing round of Transcenta as the merged company. We are very thankful in particular to our new investors for their faith in us. And we will focus our resources on delivering our pipeline," said Transcenta’s Co-Founder and Executive Chairman Dr. Jonathan Y. Zhao. "Transcenta has become a fully integrated biotherapeutics company with comprehensive capabilities. We are committed to transcending the best and bringing quality and affordable biotherapeutics to all the patients."
Mr. Da Liu, Managing Director of CR-CP, stated "We are pleased to team up with other prominent investors investing in Transcenta and supporting the elite team anchored by the two top minds, Dr. Qian and Dr. Zhao. Transcenta has firmly established itself as an integrated biotech company with cutting-edge technology platforms ranging from discovery to manufacturing. We share the Company’s mission to providing patients worldwide with innovative and affordable biologics, and will actively extend resources from CR and CP to support the Company’s growth. I have confidence that this company will become a unicorn."
Mr. Shen Qi, Senior Vice President and Head of Healthcare Investment at Fortune Capital, said "We appreciate having the chance to support Transcenta team in this financing round together with the other investors. Transcenta has built up, through its integrated technology platform, an innovative and robust pipeline with huge potentials. We believe that Transcenta will become the next-generation biotech company with the most competitive edges by adhering to its core advantages as ‘innovation, quality, speed and cost-efficiency.’"
Kevin Xie, Managing Director of China Renaissance, stated "We are honored and excited advising Transcenta in its first and successful financing round upon the merger. We believe with its integrated capabilities and the world-class management, Transcenta is to become the flagship company in biotherapeutics arena."