Biopharmaceutical company Zai Lab receives USD 30 million for Series C
Zai Lab
Founder: Du Ying
Founded in: 2014
Financing status: RMB 203 million (USD 30 million) Series C round in 2017
Biopharmaceutical company Zai Lab on Thursday received USD 30 million for its Series C financing round towards the research and development of new drugs.
Zai Lab is a biopharmaceutical company that focuses on discovering, licensing, developing, and selling novel therapeutics for tumors, autoimmune and infectious diseases. It targets patients worldwide, and has assembled a globally experienced drug development team with over 80 percent of them from the scientific, medical, and investment fields.
Founded in 2014 in Shanghai, it currently has 10 drugs under examination and awaiting regulatory approval to be sold. It has also reached partnerships with many multinational pharmaceutical and biotechnology companies.
Zai Lab previously received financing funds from Sequoia Capital and Qiming Venture Partners. This new financing round has attracted funds from both new and existing investors including existing investor OrbiMed which led this round of financing, and new investors Vivo Capital and Cormorant and Rock Springs Capital. The capital will be used for the research and development of new drugs, and speed up its global marketing expansion plans.
Kids digital education platform Creative Knowledge receives undisclosed Series A in millions of USD
Creative Knowledge
Founder: Zhang Caisheng
Founded in: 2008
Financing status: 2017 Series A round amounting to tens of millions in RMB (a few million USD)
Kids digital education platform Creative Knowledge on Thursday received an undisclosed Series A financing round in millions of USD to sell its digital education products to new customers.
Creative Knowledge is a kids digital education platform that focuses on building and selling digital educational products. These include digital textbooks, software for distance learning, Chinese learning products, CD-ROM applications, and mobile learning devices.
Currently, it operates an online learning platform iFlashBook which has also been widely accepted by textbook publishers as a useful online teaching platform. It also has some apps for learning Chinese. One of these apps include “Chinese Language Word Games” which is mainly designed for Primary 1 to 3 students. These applications have been well received by teachers and parents.
In addition, the company developed a digital education suite which uses the Chinese language as a medium to teach young children topics such as English, Math, Music, Science, Arts and social skills. This digital education suite is also available in Singapore, Malaysia and the Americas.
Founded in 2008 in Beijing, its has partners in more than ten provinces in China that provides educational instruction based on its digital education products. Over 500 schools with more than 5,000 classes have started to teach students with its digital education products.
This Series A financing round was from 3nod and Right Run. Creative Knowledge plans to use the fund to attract new partners to promote its digital education products.
(Top photo from 58pic.com)
