Sequoia China leads the investment, Xihu biomedicine gets another billion yuan financing

Today, Westlake biomedical technology (Hangzhou) Co., Ltd. (hereinafter referred to as Westlake biomedical) received a financing of 100 million yuan. This round of financing was led by the old shareholder Sequoia Capital China fund, and the old shareholders stone capital, Chende capital and Chinese capital made additional investment. The financing funds will be mainly used to continue to promote the clinical verification of several red blood cell therapy products of the company, the construction and team recruitment of Shanghai R & D center, enrich and expand the company's existing product pipeline and the strategic cooperation of multi-target drug discovery. Red blood cells have been used as carriers to deliver drugs for nearly half a century. The drug delivery system based on red blood cells has attracted extensive attention in clinical transformation due to its excellent biocompatibility, circulation half-life, safety and many other advantages. Drug delivery system based on red blood cells has developed from traditional means such as encapsulation and surface adsorption to a new generation of technology such as covalent modification by enzyme engineering and genetic engineering. Xihu biopharmaceutical, a cell therapy company based on independent R & D technology platform, has been officially put into operation in June 2020. It focuses on the R & D of blood cell products, and has successfully built an engineering red blood cell drug technology platform redx, which is to obtain a large number of Engineering red blood cells that can carry drugs in vitro through genetic engineering of red blood cells, And then through the way of reinfusion of Engineering red blood cells, the treatment of related diseases.