Daxiang Biotech, China's leading company in organoids-on-chips, will accelerate drug development and clinical precision therapy and promote the Organoid-on-Chips technology with the fresh proceeds.
Daxiang Biotech (Chinese: 大橡科技) announced the completion of the Series Pre-B round of financing worth nearly CNY 100 million recently. The round was led by Proxima Ventures (Chinese: 比邻星创投), with the participation from Qiandao Fund (Chinese: 乾道基金), Shaanxi Growth Fund (Chinese: 陕投成长基金) and Baiying Huizhi (Chinese: 百赢汇智).
The funds will be used to increase R&D and personnel investment, upgrade the Organoids-on-Chips platform, optimize the drug development service system, and expand the precision medicine business network.
Founded in 2018, Daxiang Biotech is China's leading high-tech company that develops and manufactures human organoid chips. The company is committed to promoting and leading the application of organoid chips in new drug discovery, disease modeling and personalized precision medicine. Daxiang Biotech expects to provide more accurate, efficient and economical drug development solutions and an innovative, bionic standardized platform for clinical precision drug use to promote human health development.
The company's competitors include K2 Oncology (Chinese: 科途医学), D1Med (Chinese: 丹望医疗) and ACCURATE International (Chinese: 创芯国际).