Pioneer of the 3D printed pharmaceutical industry, Nanjing Triastek Pharmaceutical Technology Co., Ltd. (also known as “Triastek”), recently raised RMB 100 million, completing its A round of financing. The lead investor was Morningside Venture Capital and the follow investors were Volcanics Ventures and InnoVision Capital. CEC Capital served as the sole financial adviser to CMLabs during this round of financing.

Triastek is an international company specializing in the 3D printed pharmaceuticals and related medical equipment. The company independently developed the world’s first high-throughput fused deposition modeling (FDM) pharmaceutical 3D printer and created a new drug development technology called “formulation-by-design”, which can be used to effectively produce multi-layered compound drugs with pre-defined release kinetics.

In July 2015, Dr. Senping CHEN and Dr. Xiaoling LI co-founded Triastek in Nanjing. In 2016 Triastek completed its Pre-A round financing, receiving support from Tasly Capital. At present, Triastek has submitted applications to the relevant authorities in China or abroad for thirty-six different patents. The first 3D printed pharmaceuticals independently researched and developed by Triastek will enter the clinical research stage in the United States by the end of 2018.

Dr. Senping CHEN, Founder of Triastek, explained, “Our generation has a duty to innovate new drug technologies. Triastek’s innovative technologies will transform global drug development and production and provide patients with more efficient and higher quality drugs. The company will help to advance the development of pharmaceutical preparation technologies in China.”

Referring to this round of financing, Mr. Wenzhao XUE, Managing Director of Morningside Venture Capital, commented, “As a fund that focuses on early-stage biotech enterprises, Morningside Ventures is exploring disruptive technologies for the world at large. The FDM pharmaceutical 3D printer developed by Triastek will have the opportunity to change the whole process of pharmaceutical formulation—from development to production—and provide patients with more and better pharmaceuticals to choose from. I am very pleased to have the opportunity to work with the Triastek team to accelerate the development of the platform and the R&D of pharmaceuticals.”

Mr. Suyang ZHANG, Founding Partner of Volcanics Ventures, remarked, “The future of pharmaceutical design and manufacturing is the mass production of tablets with pre-defined release kinetics and multiple functions that are designed based on the individual needs of the patient. The pharmaceutical industry must adopt new manufacturing technologies, including 3D printing. The research and work of Triastek, with respect to 3D printed pharmaceuticals, fused deposition modeling, and pre-defined release kinetics, reflects the highest of global standards. We are honored to have the opportunity to invest in and work with such a future-oriented pharmaceutical company.”

Irene HONG, Partner of CEC Capital, explained, “We have been interested in 3D printing technologies for quite some time. We were very pleased to find such a unique 3D printing pharmaceutical company in China with credentials that make it an industry leader worldwide. CEC Capital was honored to assist Triastek to complete this round of financing and we look forward to cooperating in the future.”

Morningside Venture Capital

Morningside Venture Capital, a subsidiary of Morningside Group, engages in high-tech venture capital projects around the world. Since its founding in 1986, Morningside Venture Capital has been committed to helping early-stage and growing biotech enterprises. Morningside Ventures has invested in projects related to novel drug development, clinical diagnostics, medical devices, medical services, and digital health. Morningside Ventures has an excellent investment management team. Most of the team members have experience in corporate operations and entrepreneurship as well as cutting-edge insights into the latest developments in biology, the healthcare industry, and the entrepreneurial and investment environments around the world.

Volcanics Ventures

Volcanics Ventures was established in Shanghai in 2016 by IDG’s former partners Suyang ZHANG, Yeshun DONG, and Ying WU. Volcanics Ventures focuses on early-stage, long-term, high-growth corporate investments in internet innovation, intelligent technologies, and healthcare. The fund manages RMB 1.5 billion in assets.

InnoVision Capital

InnoVision is a venture capital firm that was established using investments from Tasly Capital, Tianjin Science and Technology Finance Holding Group, and Sino-Briller Industry-Region Joint Development Funds. InnoVision focuses on innovative medicines, innovative medical devices, and innovative online medical treatments. The fund raised RMB 500 million during its first phase. Guided by its members from Tasly Capital, InnoVision Capital strives to invest in “4D” medical providers that are patient-centered, including manufacturers of health screening and health diagnostic equipment, devices that can be used to provide continuous medical monitoring, risk assessment, and health intervention (if necessary), as well as novel drug development, digital service tools, and big data analytic solutions.