Medical funding

Chinese biomedical CRO seals $77m fundraising for R&D push

Animal gene modifier Beijing Biocytogen managed to draw on both government and private capital for its Series D funding round.

Beijing Biocytogen, a contract research organisation which specialises in gene-modified animal models, said it has raised Rmb543 million $77 million from a group of government-owned and private investors in its Series D round of funding.

Leading the latest funding round are China Life Healthcare Fund and SDIC Venture Capital, the investment arm of State Development Investment Corporation. SDIC Venture Capital also invested in the firm’s Series B round of undisclosed amount in 2015 and its $65 million Series C round last year.

Other investors in the latest funding round include CMB International and 3E Bioventures, a Beijing-headquartered healthcare-focused fund. Biocytogen’s management team also participated.

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