November 30, 2018 (Shanghai, China) -- GenFleet Therapeutics recently announced the close of its series A financing worth 120 million yuan, which was led by Ally Bridge Group and participated by Sinopharm Capital and CSPC Pharma. This round of investment was also joined by all investors from angel financing including Highlight Capital, Hidragon Capital and TF Capital. Proceeds from the latest round will advance GenFleet’s clinical development of immune-oncology therapeutics, especially the IND application for its first innovative drug and subsequent clinical processes of this program.
“As our first product is entering IND application stage just over one year after this program was launched, we are proud of GenFleet’s efficient project execution and task management. With rapid progress of our pipeline and continuous growth of GenFleet’s all business functions, we hope to become the pioneer of immuno-oncology therapeutics and develop an innovative and balanced portfolio of products to serve enormous unmet needs. We are honored to gain acknowledgment from senior investors and professional financial advisor. With the support and resources from them, I am confident GenFleet will be geared up for further progress of multiple promising programs.” said Dr. Qiang Lu, Cofounder and Chairman of Board of GenFleet Therapeutics.