Collaborations will support continued growth of research and development efforts
BOSTON, July 12, 2018 /PRNewswire/ -- Orig3n, a Boston-based biotech research company pioneering the future of health through genetics and regenerative medicine, today announced the initial close of Series B financing with Haitong International serving as the lead investor. Haitong International joins an esteemed group of existing investors including Hatteras Venture Partners, Alexandria Venture Investments, Labcorp, Spectrum Health Ventures, 180 degree capital, VECTR Ventures, KTB Ventures, DEFTA Partners, MMIC Investment Holdings and Mountain Group Partners. Orig3n has raised over $50 million in capital to date since it was founded in 2014.
The Series B financing will support Orig3n's international and domestic expansion as well as continued R&D development, empowering customers to access information about their genes to make educated, proactive choices about their lifestyles. Furthermore, the funding will also allow Orig3n to advance its breakthrough regenerative medicine treatments using the world's largest allogenic bank of cells that is HLA-matched to 90% of the U.S. population.
"With the close of this round with Haitong International, we are excited about accelerating our commercialization efforts in our DNA testing business as well as continuing to pursue cell therapy targets and partnerships utilizing our allogenic human cell bank," said Robin Y. Smith, CEO of Orig3n. "This partnership makes it possible for Orig3n to continue revolutionizing the regenerative medicine and DNA testing fields, making it possible to bring breakthrough treatments to help heal and repair damaged organs and tissue and valuable genetic insight to patients sooner."
An established, international financial institution headquartered in Hong Kong and among the largest investment banks in China, Haitong International is quickly expanding its global reach to the United States through equity investment in high growth companies.
"We are pleased to be supporting Orig3n's innovative work," said Xi-Xi Deng, Managing Director of Private Equity Investment at Haitong International. "We are looking forward to working with Orig3n to quickly advance its cell therapy program and drive growth in DNA testing to position Orig3n as an international leader in its industry."
Orig3n will continue to pursue additional international partnerships at RISE, a world-renowned, international technology conference in Hong Kong that brings together the biggest names in technology and media, global business leaders, and VCs and investors from the world's biggest funds. Orig3n is attending for the first time to collaborate with global business leaders and innovators and to expand partnerships beyond the United States.
"Considering our newest investor is based in Hong Kong, we are very excited about attending RISE," Smith said. "We hope to come away with insights and resources to continue empowering individuals in understanding the intersection of genes and wellness."
About Orig3n Inc.
Orig3n exists at the intersection of biological science and emerging technology on a mission to create a better tomorrow for the future of medicine. As part of the mission to democratize health Orig3n empowers people by providing consumers direct, affordable access to information about their genes to help them make educated, proactive and personalized choices that may impact their well-being. That business enables Orig3n to invest in breakthrough cell therapy R&D by utilizing cutting-edge cellular science to develop personalized therapies for repairing tissue damage and disease. For more information, visit www.orig3n.com/our-mission/.
About Haitong International Securities
Haitong International Securities Group Limited ("Haitong International") is an international financial institution with the headquarter in Hong Kong and rapidly expanding network across the globe. Haitong International is also one of the largest Chinese investment banks in the offshore markets in terms of total assets, revenues and profits. The Hong Kong based private equity team focuses on identifying investment opportunities of growth driven companies backed by unique thesis in China and the U.S., primarily in healthcare, TMT and consumer sectors.
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