Eluminex Biosciences Closes $40+ Million Series B Financing to Continue the Development of Innovative Ophthalmic Assets and Recombinant Human Collagen Technology

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Feb 27, 2023, 12:00 ET

SUZHOU, China and SAN FRANCISCO, Feb. 27, 2023 /PRNewswire/ -- Eluminex Biosciences (Suzhou) Limited (Eluminex) officially announced today the closing of a Series B financing of over $40 million (USD). Financing was led by Cenova Capital with additional participation from Guangzhou Yuexiu Industrial Investment Fund Management, 3E Bioventures Capital, Oriza Holdings, and Series A investors.

Eluminex is a clinical-stage biotechnology company dedicated to the research and development of global innovative therapeutics with a major focus in ophthalmology and recombinant human collagen technology. Its headquarters and research and development center are located in BioBAY of Suzhou Industrial Park, China, with a clinical and registration center located in South San Francisco, California.

Dr. Jinzhong Zhang, Founder, Chairman and CEO of Eluminex, said: "We have made substantial pipeline progress since our $50 million Series A closure in November 2020, which was co-led by Lilly Asia Ventures, Hillhouse Capital, and Quan Capital. With the Series B raise, the Company will use the proceeds to further mature our innovative ophthalmic pipeline as well as the recombinant human collagen technology platform to meet the needs of patients in China and globally. We are grateful to the four well-known institutional investors and current shareholders for their recognition and support of Eluminex."

Eluminex's pipeline programs include novel multi-targeted antibody molecules for vision-threatening retinal diseases, an oral small molecule for rare inherited pediatric retinal dystrophies, and the clinical development and manufacturing of recombinant human collagen-based products with the potential to be world's first biosynthetic cornea for the treatment of corneal stromal blinding diseases. The Company is currently building a GMP facility in BioBAY of Suzhou Industrial Park for the manufacturing of the recombinant human collagen biosynthetic cornea and other collagen-based products and is expected to operate in mid-2023.

About Eluminex Biosciences (Suzhou) Limited

Founded in February 2020, Eluminex Biosciences (Suzhou) Limited is a global biotechnology company focusing on ophthalmic diseases and recombinant human collagen technology. The company's headquarters and research and development center are located in BioBAY of Suzhou Industrial Park, with a US-campus based in South San Francisco, California. For more information, visit www.eluminexbio.com.

About Cenova Capital

Headquartered in Shanghai, Cenova Capital is one of the earliest healthcare funds dedicated to early and growth-stage investments in the life sciences and healthcare sectors in China. Since inception in 2010, Cenova now has 7 funds under management with investments in healthcare services, pharmaceuticals, medical devices and digital health. Cenova's investors are mainly large domestic and international institutional investors including Asian sovereign wealth funds, government institutions, insurance and financial institutions and multinational companies.

About 3E Bioventures Capital

3E Bioventures Capital is dedicated to investing in cutting-edge life sciences and biomedical technologies, with a focus on breakthrough first-in-class therapies and disruptive cross-disciplinary innovations in medical devices and diagnostics. 3E Bioventures takes on a science-driven, entrepreneur-friendly investment philosophy by working closely with companies and research institutions to develop drugs or products that have strong unmet medical needs. With offices in Beijing, Shanghai, and the San Francisco Bay Area, 3E Bioventures leverages its experience, capabilities, and network to help companies tap into markets and resources across the Pacific and advance with greater speed and capital efficiency. The motto of 3E Bioventures Capital is captured in its name 3E: Expertise, Efficiency, Execution.

SOURCE Eluminex Biosciences