3D Medicines, Chinese leading cancer-targeted theranostic platform company, has raised ¥670 million in a new funding round recently. The round was led by the State-Controlled Venture Capital Fund mainly sponsored by China Reform Holdings Corporation LTD. (CRHC), with participation of China Equity Group, among other prominent funds.
CEC Capital served as the Exclusive Financial Advisor to 3D Medicines.
3D Medicines is dedicated to precision cancer medicine. The company aims at a business model which covers the whole treatment process, including early cancer screening, precision diagnosis and precision drug development. This is achieved through integrated and deep analysis of biological characteristics of cancer, clinical diagnosis & treatment and drug development data. By virtue of these methods, 3D Medicines will become the Chinese pioneer of theranostics.
Founded in 2010, 3D Medicines aims to provide the general population with cancer-targeted theranostic products. In the field of precision cancer diagnosis, 3D Medicines is a first-class brand, with a complete production line of cancer detection including histological genomic testing, ctDNA -based liquid biopsy and exosome-based liquid biopsy. Its sales network covers more than 200 Grade A-Tertiary hospitals in China. In the field of novel drug development, 3D Medicines’ anti-cancer drug R&D pipeline is arranged around cancer immunotherapy, and is also at first-class level. At present, clinical research on the globally unique novel drug project, subcutaneous injection of anti-PD-L1 single-domain antibody, developed in collaboration with Alphamab Co. Ltd has been carried out in China, the United States and Japan simultaneously. It is the only project in China that has innovative drug clinical trials launched in these three countries. In addition, follow-up products of combination immunotherapy as shown in the novel drug R&D pipeline will also enter the clinical development stage gradually.
Because of the significant difficulty in generating satisfactory results in cancer screening, diagnosis, drug development, the market caps of these processes are more than a hundred million dollars. "In China, most patients diagnosed with late stage cancer are only treated with a 20% effectiveness rate. The mission of our company is to detect 70% of Chinese cancer cases at the early stage and treat them properly with targeted and good medicine. Both early treatment based on screening in the early stage and individualized treatment based on companion diagnosis of advanced cancer are actually providing access to cancer treatment, which not only has provided valuable clinical data, but also has laid the foundation for an theranostic marketing mode." said Xiong Lei, founder and COB of 3D Medicines. Dr. Gong Zhaolong, CEO of 3D Medicines, stated, "We want to make a change in reducing the threat cancer poses to human health. The effective cancer immunotherapy has given cancer patients hope, and has become the mainstream of international cancer treatment. We will keep on developing more products of combination immunotherapy based on the theranostic platform."
When asked opinions on the new round of funding, Zhou Feng, CEO of the state-controlled venture capital fund, said that, “We cannot agree with 3D Medicines more on their advanced theories and technologies in the field of precision cancer treatment and their continuous effort made to combat cancer. We will make every effort in both capital and resources to fuel the development of 3D Medicines and turn it into a global leader in theranostics, together with the management team.”
As the financial advisor of this transaction, Ms. Hong Ailin, investing partner from CEC Capital, said that, “3D Medicines is the rare one that provides services covering the entire process from early cancer screening to individualized diagnosis and clinic drug development. We believe that this round of funding will help establish its leading position in the industry and achieve its goal in theranostics.”