Beyang Therapeutics raises $30m series A for AI-designed options
Chengdu-based Beyang Therapeutics, a Chinese drug discovery firm built around artificial intelligence, said on Wednesday it had closed an oversubscribed series A financing of nearly $30 million. The round was co-led by Legend Capital, the venture arm of Legend Holdings (HKEX: 3396), and Shanghai Healthcare Capital, a unit of Shanghai Industrial Capital.
Also taking part were China Medical System Holdings (HKEX: 0867), Fenglei Capital, Shanghai Sci-Tech Innovation Center Capital and Harbor & Canton Capital, alongside existing backers Root Venture Partners and YuanBio Venture Capital. Proceeds will fund further work on Beyang's ExCEED design platform, move pipeline candidates through preclinical and clinical studies, and expand its overseas research and business development teams.
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