Ramp­ing up in-house drug de­vel­op­ment, API mak­er Bright­Gene bags $80M round led by Se­quoia Chi­na

A Chi­nese biotech armed with an ar­se­nal of APIs and fin­ished dosage forms of spe­cial­ty gener­ic drugs has just raised $80 mil­lion (RMB$550 mil­lion) to speed up de­vel­op­ment of its own in­no­v­a­tive drugs.

While Bright­Gene has built up new drug can­di­dates that are “glob­al­ly nov­el,” CEO Jian­dong Yuan says in a state­ment, the re­search and clin­i­cal progress has been slow be­cause the fund­ing has been flow­ing in in­cre­men­tal­ly via the com­pa­ny’s own rev­enue stream.

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