Refuge Biotechnologies secures $25M funding from Chinese investors

Refuge Biotechnologies, Inc., a cell therapy company based in California bay area leveraging gene engineering technologies to develop intelligent cell therapeutics programmed to make decisions inside of patients, recently announced the closing of a $25 million Series B investment round.

The round was led by 3SBio and Sequoia China and followed by new investors Danhua Capital (DHVC), Sangel Capital and Ocean Pine Healthcare Fund and existing investors 3E Bioventures, WuXi Healthcare Ventures and ShangBay Capital.

Zhenping Zhu of 3SBio and Trency Gu of Sequoia China, will join the Refuge board of directors. The fund will be used to continue developing cell therapy programs based on Refuge's receptor-dCas platform. Under the investment term, 3SBio and Sequoia China will have exclusive rights to negotiate with Refuge on the right to the development and commercialization of cell therapies using Refuge’s platform in China. Refuge and 3SBio will also collaborate on therapeutic protein research using Refuge’s platform.

Concurrent with the financing, Zhenping Zhu, M.D., Ph.D., of 3SBio and Trency Gu, Ph.D., of Sequoia China, have joined the Refuge board of directors.

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