ASC Secures $44 Million in Its Second Institutional Financing Round | ASC

Funds to Accelerate Discovery and Development of Curative Products Based on the TARGATT™ Gene Editing Technology

July 20, 2018 11:00 AM Eastern Daylight Time

MILPITAS, Calif.-- Applied StemCell, Inc. (ASC), a leading gene-editing company, today announced the successful completion of a $44 million financing round. The investment round was co-led by a fund affiliated with Fosun and Advantech Capital, with participation from YuanMing Prudence Fund and Coalescence Partners.

“Our therapeutic team has made seminal advances across a number of therapeutic indications, which we can continue to push forward with the current funding round,” said Ruhong Jiang, Ph.D., Co-founder and Chief Executive Officer of ASC.

“We’re now positioned to translate our preclinical results into life-changing solutions, with long-term impacts on human health,” Mr. Jiang added.

Ruby Yanru Chen-Tsai, Ph.D., Co-founder and Chief Scientific Officer of Applied StemCell also commented, “ASC has accumulated extensive experience in working with stem cells and gene editing over the past 10 years and is now in a leading position in the industry. With this new funding, we can build and move our groundbreaking therapeutic products at a much faster pace.”

About Applied StemCell

Applied StemCell, Inc. is a biopharmaceutical company focused on the development of a portfolio of curative therapeutic products that are enabled by its proprietary gene editing platforms, TARGATT™ and CRISPR/Cas9. The company’s therapeutic pipeline focuses on monogenic blood disorders that exhibit high genetic penetrance.  For more information, please visit www.appliedstemcell.com

About Fosun

Fosun was founded in 1992. Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656.HK) since 2007, with total assets over RMB530 billion (c. US$81 billion) as of December 31, 2017. With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.

About Advantech Capital

Launched in January 2016 by Mr. Jianming Yu, Advantech Capital is a private equity fund focused on innovation-driven growth capital in China, on investments in Healthcare, TMT, and E-services sectors.  For more information about Advantech Capital, please see the website: www.advantechcapital.com

About YuanMing Prudence Fund

YuanMing Prudence Fund is a healthcare specialty fund focusing on China-U.S. cross border investments in therapeutics, medical devices, and diagnostics as well as healthcare service companies based in the U.S. and/or China. For more information, please see the website: www.yuanmingcap.cn

Coalescence Partners

Coalescence Partners, based in Boston, is a global investment firm that serves the investment needs of institutional investors, family offices and high-net-worth individuals. Our team has extensive global investment experience at world-class investment firms and offers a combination of a deep understanding of emerging market fundamentals and global investment expertise. For more information, please see the website: https://www.cp-im.com/

Contacts

Applied StemCell, Inc.
Maki Ogawa, 408-773-8007
Director, Marketing & Business Development
maki.ogawa@appliedstemcell.com