Biomedical CRO Biocytogen raises $65.3m
The biomedical contract research organization (CRO) Beijing Biocytogen Co., Ltd. recently completed a Series C financing round totaling $65.3m (RMB 410m).
The funding was led by CMB International Capital and SDIC Venture Capital, which also participated in a Series B investment. Cowin Capital, 3E Bioventures, and Oriza Seed also participated.
Biocytogen will use the funds for market development, technology and product development, construction of new facilities and the addition of new employees.
Biocytogen provides model animal supplies, pharmacology and efficacy assessment, and antibody development services to companies, including Amgen, Sanofi, Lilly, Merck, and Roche. The CRO also provides genetic editing and other customized services.
“Biocytogen began with customized production of gene-edited animal models at the core of its service offering,” said Dr. Yuelei Shen, founder and chairman of Biocytogen in a press release. “Later, it expanded toward preparation, scale propagation, and supply of animal models of human disease.
Shen founded the company’s US operations in Worcester, MA in 2008. The firm also operates animal facilities in Beijing and in Haimen, Jiangsu Province.
According to the company, recent developments in gene-editing technology and immunotherapy have provided an opportunity for growth.
“We hope to become a world-class CRO company offering comprehensive biomedical R&D services in the future and be able to contribute to human health,” said Shen.
Biocytogen has not responded to a request for comment.
