Life science raw materials supplier Synthgene raises over 300 million yuan
Proceeds would be used to develop raw materials for genetic nucleic acid drugs and over-the-counter home self-testing products
Nanjing Synthgene Medical Technology (Chinese: 申基生物) recently closed a Series A+ financing led by Lake Bleu Capital and LYFE Capital, with participation from existing investors Sherpa Healthcare Partners and Legend Star.
Previously, in June 2021, it had completed tens of millions in Series A funding; Winfast Holding was one of three investors. To date, Synthgene has raised over CNY 300 million (USD 47.08 million) in two consecutive rounds of financing.
According to Synthgene founder Dr. Tong Kun, the company will use the funds to further develop genetic raw materials for nucleic acid drugs and over-the-counter home self-testing products, expand the team and access foreign markets for marketing.
Founded in 2018 and headquartered in Nanjing, Jiangsu Province, Synthgene specializes in the total solution for upstream raw materials in life sciences. Its main members are drawn from the doctoral team of Nanjing University, which is dedicated to the research and development of gene nucleic acid drugs and upstream raw materials for in vitro diagnostics and other technology platforms.
This four-year-old startup has now acquired platform technologies such as monoclonal antibody preparation, mRNA in vitro transcription synthesis, and oligonucleotide synthesis. Under this initiative, three product segments – in vitro diagnostic (IVD), mRNA, cellular gene therapy (CGT) products – were spun off, enabling Synthgene to provide upstream ingredients and CDMO services for the field. medical, as well as over-the-counter home self-testing products. for consumer health.
“Synthgene has built up a wealth of technical product reserves in the areas of upstream diagnostic raw materials and nucleic acid drug ingredients, and the quality has been widely recognized by domestic and international customers. We are very optimistic that the company will become a leader. in the upstream life science commodity industry in the future,” said Wang Yinan, Chief Investment Officer of LYFE Capital.
Synthgene’s main competitors are OkayBio, Zoonbio, WuXi AppTec (2359:HK) and GenePharma.