(Yicai Global) July 20 -- Yinjia Biomedical Technology, a Chinese protein technology research and development company, has secured tens of millions of yuan in a pre-A financing round, headed up by Gaorong Capital.
Other investors, including Growth Capital and existing backers CDH Venture and Shanghai Furong Investment, also took part, the Paper reported today, citing the Shanghai-based firm.
The funds raised will be mainly used to recruit talent and boost production capacity of its protein optimization platform. They also provide Yinjia with a strong guarantee for core raw materials and software and hardware capabilities to develop downstream processing, it added.
The firm wrapped up another financing round in January, also raising tens of millions of yuan from angel investors CDH Venture and Growth Capital Fund and Furon Investment. The money was used to set up laboratories in the Chinese cities of Shanghai, Suzhou and Beijing.
Set up last November, Yinjia focuses on applying the use of proteins in biomedicine. It recently signed a deal with US biotech firm IsoPlexis to jointly advance the use of a multifunctional proteomics data analysis platform that can monitor and analyze the therapeutic effects on tumor patients in real time.
Editor: Futura Costaglione