Westlake Therapeutics closes RMB100m Pre-A financing round for novel red blood cell therapies development

Westlake Therapeutics announced that it has closed a Pre-A financing of nearly 100 million yuan. This is the first independent scientific and technological achievements industrial transformation project after the establishment of Westlake University.

Westlake Therapeutics announced that it has closed a Pre-A financing of nearly 100 million yuan. This is the first independent scientific and technological achievements industrial transformation project after the establishment of Westlake University.

The startup plans to utilize this bankroll to facilitate internal administration, build a comprehensive research and development team, update laboratory infrastructures and critical construction of pre-clinical R&D.

Founded in 2019, the Hangzhou-based startup is a medical arm of the first-ever Chinese non-profit private research institute, Westlake University. This startup is incubated at the School of Life Sciences, where it is seeking fundamental solutions to improved human wellbeing and the reduction of disease.

Westlake Therapeutics focuses on red blood cell therapy — first extracting hematopoietic stem cells, transforming them into medicine-carriers, and then transfusing them back into human bodies.

The core technology of Westlake Therapeutics comes from Gao Xiaofei’s “Stem Cell and Organ Regeneration” laboratory, which has developed a new personalized red blood cell therapy technology that can be used to treat gout and hemophilia, phenylketonuria and other rare diseases and even cancer.

At present, Westlake Therapeutics has launched clinical cooperation with The Second Affiliated Hospital of Zhejiang University School of Medicine for innovative treatment of gout.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/08/westlake-therapeutics-closes-rmb100m-pre-a-financing-round-for-novel-red-blood-cell-therapies-development/.

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