Triastek completes $20.4 million funding round to accelerate commercialisation of 3D printing pharmaceutical technologies
Triastek The company has announced that a Pre-C funding round of 20.4 million dollars USD is complete. The company says this milestone marks a ‘significant step’ in the advancement of Triastek’s solutions for drug development and manufacturing.
China Renaissance was the exclusive financial adviser. Guoxin Investment led the Pre-C financing, with Goldmine Multi-family Office and Xiaodong Zheng as existing investor, President of Shanghai Tofflon Science and Technology Co. Ltd.
Triastek had attracted a number of investors, including Tasly Holding Group and Morningside Venture Capital. Other investors included Yunqi Partners Xiaodong Zheng Matrix Partners China CPE Shanghai Sci-Tech Innovation Center Capital Triwise Capital.
Trisatek’s proprietary technology, the Melt Extrusion Deposition (MED) 3D printing process, combined with digital formulation development methods, enables drug delivery and programmed release. Triastek is actively developing new technologies, such as Semi-Solid Extrusions, Micro-Injection Mouldings, and Micro Droplet Jetting.
Dr. Senping Cheng, Founder and CEO of Triastek said: “As Triastek enters a new phase of development, we will continue to explore the MED process and platform, comprehensively promote the commercialisation of our technologies and products, work hand in hand with global partners, and drive the industry towards digital product development and intelligent manufacturing.”
The company has established business partnerships with global pharmaceutical companies that focus on innovative products and advanced technological solutions. Triastek established strategic partnerships Eli Lilly KGaA Boehringer Ingelheim Siemens and Sperogenix.
Lu Zhen, CEO of Guoxin said: “As a global leader, Triastek is gaining recognition from regulators and partners. We are excited to be part of this financing round and look forward to Triastek expanding collaborations and achieving technical advancements as a benchmark enterprise in the field of high-end formulations.”
“Supporting groundbreaking companies like Triastek enables our family capital to achieve high-quality inheritance while making valuable contributions to society,” added Goldmine Multi-family Office.
Xiaodong Zheng, President of Tofflon added: “We are excited to see Triastek advancing such an emerging technology from concept to commercial production. We will work with Triastek to support the development of China’s pharmaceutical modernisation.”
“We firmly believe that Triastek’s innovative technology has vast application potential. We will continue to walk with the company on its path of development and we look forward to Triastek’s innovative technologies helping more and more innovative drug products to be successfully developed and achieve clinical drug benefits as soon as possible,” said Jiang Jiajia, Managing Director of the Medical and Life Sciences Division at China Renaissance.
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