-- World-class gene-editing technology platform accelerates xenotransplantation R&D, bringing hope to the hundreds of thousands of patients waiting for an organ transplantation

Abstract: Hangzhou Qihan Biotech has completed its Series A financing of USD 7.8 million led by Sequoia Capital China. Hangzhou Qihan Biotech is committed to building world-class genome editing technology for xenotransplantation, thereby providing transplantable life-saving cells, tissues, and organs to the hundreds of thousands of patients waiting for a new organ.

Hangzhou, July 23, 2018 - Hangzhou Qihan Biotechnology Co., Ltd. (hereinafter referred to as "Qinhan Bio") announced the completion of its Series A financing of USD 7.8 million. This round of investment was led by Sequoia Capital China Fund, a well-known international investment agency. Arch Venture, Northern Light Venture Capital, Shulan Medical Capital, Biomatics Capital Partners, Alta Partner, and others participated in the financing. QihanBio will establish a world-class gene-editing platform and is committed to promoting the research and development of xenotransplantation.

QihanBio is an innovative biotechnology company focused on applying the latest gene-editing technology to xenotransplantation, dedicating itself to solving the global shortage of donor organs. The company was founded in 2017 jointly by Dr. Luhan Yang, the Founder and Chief Scientific Officer of eGenesis Inc., and Professor George Church of Harvard University, an academician of the American Academy of Sciences and the American Academy of Engineering. QihanBio is located in Xiaoshan Science and Technology City, a high-level scientific hub with world influence in the biotech industry brought by Xiaoshan government, Hangzhou, China.

QihanBio and eGenesis are sister companies, hoping to establish a new international innovative and collaborative R&D model. It is dedicated to using world-class gene-editing technology to create safe and effective transplantable cells, tissues, and organs to solve the severe shortage of donor organs globally. Currently, QihanBio has established a brand-new world-class R&D center and formed an experienced scientific team in genome editing and xenotransplantation.

Dr. Luhan Yang, co-founder and CEO of Qihan Biotech, said millions of patients in China on the organ transplant list have lost their lives due to the late-stage organ failures. Qihan Biotech is committed to combining state-of-the-art gene-editing technology with drug therapy to produce cells, tissues, and organs available to transplant to humans. We are pleased to be recognized and supported by top biotech investors globally, building QihanBio into an innovative benchmarking biotech company.

Mr. Nanpeng Shen, Global Managing Partner of Sequoia Capital, said that the wave of genetic revolution brings new opportunities to the life sciences industry. Qihan Biotech has the most advanced genome engineering technology and scientific R&D team; it is also exploring new collaboration models with the US biotechnology industry to grow faster.

The Xiaoshan District Government said that in recent years, Xiaoshan District has attached great importance to the introduction and cultivation of talent teams, and has fostered an industrial ecology in the fields of life sciences, big data, and artificial intelligence. QihanBio has already set an industry benchmark within a short period of half a year. With the added support of investors, we look forward to QihanBio’s accelerated growth to provide more effective treatment options for patients globally.