Life sciences companies in the Philadelphia region attracted more than $1.1 billion in venture capital funding this year, with those developing cell and gene therapies leading the way.

The three largest deals accounted for more than half of that figure.

The year saw two companies, one a startup, reel in $200 million investments. 

NiKang Therapeutics of Wilmington raised $200 million in a Series C round from a group of investors led by Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital Advisors. 

NiKang is developing small molecule oncology medicines. Zhenhai Gao, NiKang’s co-founder and CEO, said the company’s goal is to build the world’s leading precision oncology company. 

“We are now well-positioned to rapidly advance our pipeline into [the] clinic and to bring our company to the next level of growth,” said Gao, who was previously a senior director of cancer biology at Incyte Corp. in Wilmington.

*Article courtesy of Philadelphia Business Journal 

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