China's VectorBuilder raises $57m Series C

Other investors include C&D Emerging Industry Equity Investment, Wanlian Securities, Guangzhou Industrial Investment, Capital Operation Holding, and Jingtingshan Venture Capital, according to a statement.

VectorBuilder was founded in 2014 by Chinese-born American geneticist Bruce Lahn, a professor at the University of Chicago. Lahn is also the founder of the centre for stem cell biology and tissue engineering at Sun Yat-sen University in Guangzhou.

The company provides more than 1.2m gene delivery solutions to about 4,000 research institutions and pharmaceutical companies. Gene delivery is a critical step in gene-drug development.

VectorBuilder has more than 10 offices and branches globally, with 90% of business represented by around 80 overseas markets. More than 300,000 projects are put into production a year. Lahn claims the company has the largest market share in the global gene delivery scientific research space.

The core asset is described as a smart online vector design platform combined with offline high-throughput smart production management platform. It is said to significantly reduce the cost and R&D cycles faced by drug developers.

Fresh proceeds will be used to update the technology platform, expand the production capacity, and increase the global layout. Construction began on a manufacturing facility in partnership with Guangzhou Development Zone Investment Group in April.

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