Baifuan Enzyme Technology, a pioneer of Chinese biocatalysis industry, is rapidly gaining momentum to lead the industry
Suzhou Baifuan Enzyme Technology (Chinese: 苏州百福安酶技术有限公司) , a biotechnology startup, recently announced its completion of an angel round of financing for nearly CNY 50 million (USD 7.8 million), led by Sequoia Capital China Seed Fund and with participation from Empowerment Investment (Chinese: 合力投资).
Baifuan had previously raised millions of CNY in a seed round of financing in December last year.
The funding will be used for product development, construction of pilot production lines and experiments for new processes at a level from grams to kilograms.
With Research & Development Centre in Shanghai and Product Testing Base in Suzhou, Baifuan Enzyme Technology has not only established platforms for discovering and editing genes of industrial enzymes but also created product development platforms for enzymes of different types and functions. It has partnered with more than 20 downstream companies.
Baifuan Enzyme Technology was founded in 2014 as a manufacturer of biocatalysts by Professor Xu Jianhe from East China University of Science and Technology. It has synthesized a series of chiral amine compounds which can be applied in production of flavors and fragrances, pharmaceutical intermediates, and vitamins.