On September 22, 2023 Hangzhou Qihan Biotech Co., Ltd. ("Qihan" or "Qihan Biotech" or "the Company"), an industry leader in applying multiplexable genome editing technology to cell therapies and organ transplantation, reported the successful completion of a pre-Series B financing exceeding $16 million funded by a new investor, Zhejiang Industrial Fund Co., Ltd., with participation from other existing investors (Press release, Qihan Biotech, SEP 22, 2023, View Source [SID1234635344]). The combined funds from this financing round and the company’s reserves will provide ample capital to support the rapid product iteration and global development of gene-edited stem cell products by Qihan in the next four years.

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Dr. Luhan Yang, the Founder and CEO of Qihan Biotech, said, "We are very grateful for the continued support of our existing shareholders and the trust of our new shareholder, Zhejiang Industrial Fund Co., Ltd. There are still many core challenges to be overcome in the Off-the-Shelf cell therapy field, but the combination of gene editing and stem cell therapy holds enormous potential to create the products serving a wide range of cancer patients. We will continue leveraging Qihan’s research and talent advantages, work diligently, and strive to develop Off-the-Shelf cell therapy products that provide long-term patient benefits."