CAS Investment Management has joined Cascade Pharma’s new round while Goldstone Investment has led soft robot maker SRT’s Series C round. Meanwhile, Guotai Junan Securities has co-led Boston Micro Fabrication’s Series D round.
CAS Investment Management joins Cascade Pharma’s new round
Cascade Pharmaceuticals, which is into research, discovery, and development of innovative drugs targeting nuclear receptors and G protein-coupled receptors (GPCRs), has secured 140 million yuan ($19.3 million) in a fresh financing round.
The round saw the participation of CAS Investment, which is affiliated with the Chinese Academy of Science (CAS), as well as local venture investors Puhua Capital and Lapam Capital, among others, according to a company announcement on August 11.
The firm will use the proceeds to accelerate the second phase of clinical trials of its drug candidate CS0159 in China and the US, as well as the first phase of clinical trials of its existing candidates.
Founded in 2017, the firm previously secured 100 million yuan in a pre-Series A+ round led by West Lake Innovation Equity Investment in January 2022.
Goldstone Investment leads SRT’s Series C round
Soft robot maker SRT has snapped up 150 million yuan ($20.6 million) in two consecutive financing rounds, according to a company release on August 8.
Goldstone Investment, the private investment fund management subsidiary of Chinese investment bank Citic Securities, led the round. Local investors including Pegasus Capital and Zhuoxing Fund joined the extended Series C round.
Founded in 2016, the firm has extended its soft robots in areas like manufacturing and medical care. Previously, the firm bagged 100 million yuan ($14.5 million) in a Series B financing round led by Joy Capital and Sinovation Ventures in December 2022.
Guotai Junan Securities co-leads Boston Micro Fabrication’s Series D round
Boston Micro Fabrication (BMF), which manufactures high-precision micro 3D printers, has raised $24 million in a Series D financing round co-led by Chinese brokerage Guotai Junan Securities.
National Manufacturing Transformation and Upgrading Fund, a 147.2-billion-yuan ($21.02 billion) government-led fund, also led the round.
The Chongqing-incorporated firm will use the proceeds to improve its innovative research and development, ramp up the marketing of its terminal products, and strengthen its global collaborations.
The round saw the participation of local investors including Shanghai Zhangjiang Science & Technology Venture Capital, Chongqing Jianxin Heying Private Equity Investment Fund, and Guangdong Fanwan Yingkang Private Equity Investment, among others.
The news comes a year after the firm secured 300 million yuan ($43.9 million) in a Series C financing round led by Shenzhen Capital Group.