CGene Tech (Suzhou, China) Co Ltd, a new medicine developer and manufacturer based in Suzhou Bio-Medicine Industrial Park (SBMIP), announced on Dec 12 that it had raised nearly RMB 100 million in Series A funding. Suzhou Yipu Capitals and Nanjing Tongren Boda led the round with the participation of Ganrong Capitals and Yida Capitals.

CGene Tech was founded in SIP in 2010. Now it has a 1,000-sqm R&D and experiment base as well as an integrated production and management system in SBMIP. Its novel drug against diabetes was made part of the national new medicine development program in 2012 and approved for clinical application in 2017.

CGene Tech plans to use the newly raised fund to propel the clinical trial of two new drugs, expand its R&D and registration application teams as well as enrich its lineup.