Delonix Bioworks Closes $14 Million Series Seed Financing to Accelerate the Development of its Innovative Synthetic Vaccines
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SHANGHAI, March 11, 2021 /PRNewswire/ -- Delonix Bioworks Ltd. (Delonix), a biotechnology company dedicated to developing the next generation vaccines with synthetic biology approaches, has recently closed a $14 million Series Seed financing led by Boehringer Ingelheim Venture Fund (BIVF) and IDG Capital, with participation from ZhenFund and an undisclosed investor. The financing will be used to accelerate the building of synthetic biology vaccine platforms and advance pipelines of synthetic vaccines to clinical trials.
Based in Shanghai, China, Delonix is working on innovative synthetic biology approaches to develop the next generation medical solutions to address global public health challenges. Delonix's synthetic biology and antigen discovery platforms enable rational design and programming of bacteria into more safe and effective vaccines. Current lead programs target anti-microbial resistance (AMR).
"We are delighted to have the support and confidence from our investors in our innovative platforms to develop the next generation synthetic biology vaccines," said Dr. Qiubin Lin, CEO of Delonix. "We are passionate about how synthetic biology could transform the way we develop medicines. Our first program focuses on antimicrobial resistance (AMR), which has become a major threat to public health globally and may cause 10 million deaths annually by 2050. Traditional vaccine approaches failed to generate effective vaccines against resistant bacteria such as methicillin-resistant Staphylococcus aureus (MRSA). The funding will allow us to advance our AMR synthetic vaccine programs and further strengthen our existing platforms."
"The Delonix team has developed a novel approach building on an established concept of live attenuated bacteria combined with the latest development in synthetic biology, and the innovative approach of Delonix has been recognized in the ecosystem by winning BI's Innovation Prize in 2020," said Dr. Weiyi Zhang, Managing Director, BIVF China. "With the unique combination of experiences of the Delonix team in antigen discovery, disease biology, and synthetic biology, we are confident that Delonix will advance the field of next generation vaccine for AMR infections, one of the areas of focus of the BIVF, and develop innovative therapies for patients."
"The Delonix team has demonstrated world-class research capabilities in synthetic biology and has extensively explored multiple medical translations," said Dr. Zixuan Pang, Vice President, IDG Capital. "It is a great honor for us to have the opportunity to work with the Delonix team and we have great confidence in the pipeline of Delonix. We firmly believe Delonix will soon become a global leader in synthetic vaccines."
About Delonix Bioworks
Delonix Bioworks is a biotech company leveraging synthetic biology approaches and gene editing to develop the next generation medical solutions to infectious diseases and cancer. The company's research programs focus on rational design and programming of bacteria as living medicines.
About Boehringer Ingelheim Venture Fund
Created in 2010, the Boehringer Ingelheim Venture Fund GmbH (BIVF) invests in groundbreaking therapeutics-focused biotechnology companies to drive innovation in biomedical research. BIVF is searching for significant enhancements in patient care through pioneering science and its clinical translation by building long-term relationships with scientists and entrepreneurs. BIVF's focus is to target unprecedented therapeutic concepts addressing high medical needs in immuno-oncology, regenerative medicine, infectious diseases and digital health. For more information, visit www.boehringer-ingelheim-venture.com.
About IDG Capital
Started from 1993, IDG Capital was the first firm to bring foreign venture capital into China. After nearly 30 years of development, IDG capital has accumulated asset under management of about 150 billion RMB, invested more than 1,000 companies and with over 200 successful exits. IDG Capital investment portfolio in healthcare includes: MGI Tech, Colortech Bio, Ping An Good Doctor, Edigene, HiFiBio, Analytical Biosciences, Zhenge Biotech, Gensciences, Microtech Medical, Keya Medical, Accutar Biotech and Lyvgen.
ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 700 portfolio companies, including over 10 unicorns based in China. ZhenFund is honored to have been ranked "#1 Early-Stage Investment Firm" by Zero2IPO six years in a row 2014-2019.
ContactDelonix Bioworks Ltd.email@example.com
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SOURCE Delonix Bioworks Ltd.
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