Biotech

Chinese animal gene modifier set to close $79m funding

Biocytogen delivers gene-modified mice to speed up development in the pharmaceutical industry. Riding the momentum of biotech development in China, the firm expects to IPO within three years.

Chinese gene-modified animal provider Biocytogen is going to close its Series D funding of $79 million on July 23, with four investors and a management team participating.

In an exclusive interview with FinanceAsia, chairman Shen Yuelei spoke about plans for his biotech company and the timeline to expand its business from gene-modified animals, to a comprehensive contract development and manufacturing platform for immuno-oncology.

Investors in Biocytogen understand the long business cycle of biopharmaceutical development, Shen said. “We hope to go public in 2021 or 2022,” he added.

Founded in 2008, Biocytogen outsources its biotech research to pharmaceutical companies. Currently,...

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