CRO Enterprise ICE Bioscience Completes B++ Round of Financing

Healthcare Author: EqualOcean News, Jiahui Liao Editor: Jiaqi Li May 14, 2024 02:51 PM (GMT+8)

ICE Bioscience is dedicated to new drug targets and drug discovery.

digital CRO

Recently, Beijing ICE Bioscience Biotechnology Co., Ltd. (ICE Bioscience) announced the completion of its B++ round of financing. This round of financing was led by E-Town Capital, with existing shareholder ALWIN Capital continuing to increase its stake, and G&G Capital serving as the exclusive financial advisor for this round of financing. This is ICE Bioscience's rapid support from the capital market since completing a nearly CNY 100 million financing in August 2023. The financing will support ICE Bioscience in providing more advanced and higher-quality services to pharmaceutical companies both domestically and internationally.

Founded in 2010 by Dr. Yan Li and Dr. Li Yingji upon their return to China, ICE Bioscience has developed from a startup company specializing in ion channel target drug screening to a global leader in biology CRO for drug discovery based on new targets. It focuses on new targets, methods, and technologies for drug discovery, establishing an integrated platform for target-driven drug discovery biology. The company has served over 1,000 new drug research and development enterprises worldwide, establishing a full-process integrated service platform from drug target validation to in vivo pharmacological validation across multiple dimensions such as molecules, cells, tissues, organs, and animals, and supports dozens of R&D projects for IND applications each year.

It is understood that the technical platforms currently established by ICE Bioscience include a target-based drug screening platform, an in vitro and in vivo efficacy screening and evaluation platform, and an early druggability screening and evaluation platform.

In recent years, ICE Bioscience has achieved good results in the fields of drug target confirmation and high-throughput screening, in vitro druggability screening based on multi-target panel screening, central nervous system drugs, new types of ADC drugs, protein degradation drugs, and AI-driven drug discovery.

Dr. Li Yingji, the founder and general manager of ICE Bioscience, said, "Thank you to this round's investors, E-Town Capital and ALWIN Capital, for their recognition of ICE Bioscience, and thank you to our old shareholders for their help and support in the successful completion of this round of financing. Despite the current global economic pressures, ICE Bioscience continues to see many innovative drug companies' ongoing investment in innovation on the front line. We are grateful to the numerous domestic and international customers who have chosen ICE Bioscience. We are willing to continue to use our most professional and efficient services, the most advanced platform-based innovation capabilities, to continuously create value for our customers and become the most trustworthy partner in the era of China's innovative drugs 2.0 and the new global pattern of innovative drugs."