China-based biotech firm Pyrotech (Beijing) Biotechnology Co., Ltd announced the successful completion of a CNY 700 million (USD 97.37 million) Series A financing round last week. The round was spearheaded by SDIC Venture Capital, with China Venture Capital Fund as a co-leader. New participants in this funding round included China Taiping Medical and Health Equity Investment Fund, China Life Asset Management Company, and Lotus Lake Capital. Existing investors such as MSA Capital, Lilly Asia Ventures, FreesFund, LSV Capital, BioTrack Capital, Greenwaters Fund, and Beijing Changfa Industrial Operation Management Co., Ltd also participated in the round.
Founding and Focus of Pyrotech
Pyrotech was co-founded in 2020 by academician Shao Feng and Dr. Deng Tienjing. The company is centered around a revolutionary platform for “molecular switching of cellular focalization and innate immunity regulation”. This technology is based on the discovery of “cellular pyroptosis”, a novel type of cell death that plays a crucial role in controlling infections by triggering a robust immune response.
Aims and Applications of Funding
Pyrotech aims to develop potential first-in-class drugs and therapies for cancer and inflammatory conditions. The funding from the Series A round is set to support ongoing clinical and preclinical development work, as well as the hiring of human resources. This financial boost will be instrumental in advancing the company’s innovative research and bringing new treatments to market.-Fineline Info & Tech
