Hangzhou Sumgen Biotech Co., Ltd (hereinafter “Sumgen) has recently completed a series A+ funding of tens of millions RMB exclusively with China National Biotech Group (hereinafter “CNBG”). This is a new funding round completed by Sumgen after the series A funding in Jun. 2018. This fund is mainly used for further expanding the R&D pipelines and accelerating the R&D of major products.
On Feb. 19, 2019, CNBG and Sumgen signed a strategic investment cooperation agreement in Beijing. The signing ceremony was attended by chairman Yang Xiaoming, president Wu Yonglin, and senior executives of CNBG, chairman Lv and the management team of Sumgen, as well as representatives of CCBT.
According to CNBG chairman Yang, “Antibody drugs have huge market prospects and social values, and are a focus of CNBG’s strategic layout. The Sumgen team is young, energetic and brilliant. The team members have solid technical skills, extensive R&D experiences, and impressive work habits. With the company’s unique technology platforms as well as rich and reasonable product pipelines, we are confident that there will be a promising future ahead of Sumgen. This strategic investment marks the starting point of our cooperation with Sumgen. We will provide full support and carry out multi-aspect and in-depth cooperation with Sumgen to accelerate the R&D and industrialization of innovative antibody drugs in China. Our aim is to help Chinese enterprises go global and provide high-quality Chinese antibodies for cancer patients in China and around the world.”
Dr. Lv, chairman of Sumgen, expressed that, “We highly appreciate CNBG’s recognition of our talented team, innovative capability, and future development. Sumgen is a young company, and the gaining of the investment and support from CNBG - the national pillar of biomedicine - will drive Sumgen to further expand R&D pipelines and accelerate the R&D of major products. Upholding the philosophy of “continuous innovation for health promotion”, Sumgen will strive to become a world-leading innovative biopharmaceutical enterprise that provides high-quality Chinese antibodies for cancer patients in China and around the world.”
Copyright Rm. 301, F3, Building C, Block 2, No. 688, Bin'an Road, Changhe Zhejiang ICP Filing No. 18039044
