Corporates inject $19m into Applied StemCell

Jun 7, 2016 • Sam Shaw

Asia-based corporates Ping An, Fosun Pharmaceutical and SK Group have participated in a series D round for the biotechnology company.

US-based biotech company Applied StemCell (ASC) yesterday closed a $19m series D round including Ping An Ventures, the corporate venturing unit of insurance provider Ping An.

The round was led by healthcare-focused private equity fund HerMed Capital, co-managed by healthcare company Fosun Pharmaceutical and conglomerate SK Group. Vi-Ventures and Bioscikin also participated.

ASC’s pipeline focuses on monogenic blood disorders – conditions that are usually hereditary and characterised by a defect in a single gene can affect the entire body.

The…

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