Beijing-based Daxiang Biotech Co., Ltd., a leading domestic company in the organoid-on-a-chip field, has reportedly raised close to RMB 100 million (USD 14.18 million) in a Pre-Series B financing round. The round was led by Proxima Venture Capital, with participation from Qiandao Investment Fund, Shaanxi Growth Enterprise Guide Fund, and Wuhan Baihui Huizhi Venture Capital Fund. The proceeds will be used to accelerate research and development (R&D) and staffing, enhance its organoid-on-a-chip platform, drug R&D service systems, and expand its precision medical commercial network.
Focus on Cell and Gene Therapy
Daxiang Biotech is focused on the cell and gene therapy (CGT) field and is developing Ankexin, an in-house individualized anti-cancer drug sensitivity testing product launched this year. The company aims to leverage the funding to further advance its innovative solutions in precision medicine and CGT, positioning itself as a key player in the next-generation therapeutic technologies.-Fineline Info & Tech
