Cholesgen (Shanghai) Co. Ltd., an incubated company of TIF Fund, has recently announced the completion of its Series A financing, raising more than RMB 100M (equivalent to USD 14.1M). The fundraising round was led by Gaorong Capital and syndicated by AZ-CICC Medical Fund, Wider Link Enterprise Investment Limited, Huangpu Biomedical Fund and TIF Fund.
Despite the headwinds in the capital market, Cholesgen's Series A financing has received extraordinary attention from many institutional investors, demonstrating great market recognition of Cholesgen's value.
Founded in February 2021, Cholesgen has solely focused on innovative therapeutic solutions for cholesterol-related diseases. The company's scientific founder, Prof. Baoliang Song, is a leading researcher in cholesterol metabolism and regulation, who serves as the Academician of the Chinese Academy of Sciences and Vice-president of Wuhan University. The co-founder, Prof. Wei Qi, from Shanghai Tech University, has extensive R&D and management experience in global pharma.
Since its establishment, Cholesgen has built a strong R&D team and pipeline, translating from the scientific breakthrough in Prof. Song's fundamental research related to targets and cholesterol biological mechanisms. Two of the assets will soon advance to preclinical candidates with several other pipeline projects in the early stage of R&D.
The incubation and rapid development of Cholesgen have demonstrated the core value of TIBS, a triad of scientists, entrepreneurs, and investors. We help passionate scientists and entrepreneurs translate groundbreaking scientific research into ventures, aiming to transform innovations into cures for humanity.
Cholesgen has made remarkable progress in its mission to develop innovative therapeutic solutions for cholesterol-related diseases. We congratulate Cholesgen for the successful completion of its Series A financing, and we commit to continuing our collaborations with Cholesgen and the new investors to actively push forward Cholesgen's research and development to reach the next milestones as soon as possible.