Hangzhou-based cell therapy firm Westlake Therapeutics, founded in 2019, has successfully raised over RMB 100 million (USD 14.95 million) in a Series A+ financing round. The funding was led by EFung Capital, with participation from Ao Peng Investment, Hangzhou Westlake Science Innovation Equity Investment, and Westlake Innovation (Hangzhou) Equity Investment. The proceeds will be utilized to accelerate the development of a red cell platform product pipeline, clinical verification, and IND filing for red cell products.
Company Background and Technology
As China’s first red blood cell (RBC) therapy company, Westlake Therapeutics offers the innovative RBC drug technology platform REDx. This platform enables the engineering of RBCs to carry various drugs into patients’ bodies for the treatment of major illnesses. The technology is the first of its kind in China and the second globally, following Rubius Therapeutics in Cambridge, Massachusetts.
Product Pipeline and Future Outlook
Westlake Therapeutics is actively developing multiple product pipelines targeting rare diseases, tumors, autoimmune diseases, metabolic diseases, and other conditions. The recent funding will support the expansion of these pipelines and advance the clinical development of their innovative red cell-based therapies.-Fineline Info & Tech
