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Chicago Entrepreneur Goes Global, Raising More Than Thirty Million In The B-Round

Dec 31, 2021•over 3 years ago
Chicago

Description

The SparX Group of Cayman Island recently announced the closing of a B-round fund-raising of over 30 million USD. Co-founded by Dr. Gui-Dong Zhu, an Abbott/AbbVie alumnus, the emerging biotech power develops innovative anticancer biologics utilizing the company's integrated platform for bispecific antibodies and antibody drug conjugates. HighLight Capital (HLC) and Rotating Boulder Fund co-led this round of fund-raising.

Company Information

Company

Entrepreneur

Location

Chicago, Illinois, United States

About

Within 3 years, the young biotech company had built an integrated multi-component SAILING™ antibody discovery platform combined with a sophisticated AI-based target mining algorithm, yielding multiple IND-ready drug candidates. The new company contains four major sectors including a Delaware-based SparX Biopharmaceutical focusing on R&D that is also the engine and powerhouse of the group, a Hong Kong-based SparX Biotech for business development, a Yangzhou-based SparX (Jiangsu) for process development and commercial production, and a Shanghai-based subsidiary for drug registration and marketing. The technology platforms built in the last few years give SparX a comfortable competitive edge. The group company consists of four sectors focusing on different phases of pharmaceutical development. Deliciated to novel technologies and healthcare innovation, the firm focuses on investing in startups in biotech, biopharma, medical devices, and digital health.