OVC-based biotech firm finishes Series C+ financing round

Neurophth Biotech Co has successfully completed its Series C+ financing round on Aug 9, raising a significant amount of 700 million yuan ($96.83 million). Based in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) in Wuhan, Central China's Hubei province, the company has made impressive strides in the field of biotechnology. 

It's a domestic company in gene therapies for ocular diseases and has subsidiaries in Wuhan, Suzhou, Shanghai, and San Diego in the USA. 

The company has recently secured funds from a Series C+ financing round. These funds are determined to be used to support the ongoing clinical trials, expand the company's production lines, and improve the research and development capabilities for its core products. 

Li Bin, founder, chairman, and CEO of Neurophth, said that with capital and technological advantages, the company aims to accelerate the progress of clinical trials and the development of new drugs, bringing gene therapies to patients more quickly.