Nanjing, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Triastek, Inc. ("Triastek") today announced the completion of a USD 20.4 million Pre-C financing round. This milestone marks a significant step in the advancement of Triastek's innovative solutions for drug development and manufacturing.
The Pre-C funding round was led by Guoxin Investment ("Guoxin"), with participation from Goldmine Multi-family Office ("Goldmine") and existing investor Mr. Xiaodong Zheng, president of Shanghai Tofflon Science and Technology Co. Ltd. ("Tofflon"), while China Renaissance served as the exclusive financial advisor.
Prior to this, Triastek successfully attracted renowned investors including Tasly Holding Group, Morningside Venture Capital, Volcanics Venture, Dalton Venture, Yunqi Partners, Mr. Xiaodong Zheng, Matrix Partners China, CPE, Shanghai Sci-Tech Innovation Center Capital, and Triwise Capital.
Triastek’s proprietary technology, the Melt Extrusion Deposition (MED®) 3D printing process, combined with digital formulation development methods, enables complex drug delivery and programmed release. Triastek is also actively developing new technology processes, including Semi-Solid Extrusion, Micro-Injection Molding, and Micro-Droplet Jetting. The combination of these technologies with MED offers a wide range of solutions for pharmaceutical delivery and development needs, such as oral peptides, gastric retention, and high potency products.
Triastek, as a leading provider of digital pharmaceutical process technology, is continuously advancing applications of 3D printing technology to produce novel pharmaceutical products that improve patient outcomes. The company has engaged in extensive business collaborations with global pharmaceutical companies, focusing on novel products and advanced technical solutions. Currently, Triastek has established strategic partnerships with Eli Lilly, Merck KGaA, Boehringer Ingelheim, Siemens, and Sperogenix.
Founded in 2015, Triastek has risen as a global leader in field of 3D printing pharmaceuticals, achieving numerous impressive accomplishments including:
- The holder of the highest number of patents, accounting for over 20% of patent applications worldwide in the realm of pharmaceutical 3D printing technology
- The company with the largest number of 3D-printed products, with three of its products gaining IND clearance from US FDA and one gaining IND from NMPA
- The highest production capacity in 3D-printed drug manufacturing, with self-built 3D printing pharmaceutical continuous production line compliant with GMP standards, current capacity up to 75 million tablets annually.
- The only Chinese pharmaceutical company selected for the US FDA's Emerging Technology Program (ETP)
Dr. Senping Cheng, Founder and CEO of Triastek, shared her vision of the company’s future, stating, "As Triastek enters a new phase of development, we will continue to explore the MED process and platform, comprehensively promote the commercialization of our technologies and products, work hand in hand with global partners, and drive the industry towards digital product development and intelligent manufacturing."
"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," said Mr. Lu Zhen, CEO of Guoxin.
"Supporting groundbreaking companies like Triastek enables our family capital to achieve high-quality inheritance while making valuable contributions to society," said Goldmine.
"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 modernization," said Mr. Xiaodong Zheng, president of Tofflon.
"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 benefits as soon as possible," said Ms. Jiang Jiajia, Managing Director of the Medical and Life Sciences Division at China Renaissance.
About Triastek
Triastek is a global leader in 3D printing pharmaceuticals, pioneering the next generation of digital pharmaceutical processes.
Founded in July 2015, Triastek is dedicated to the mission of "revolutionizing the pharmaceutical industry, unlocking the next generation of medicine and benefitting patients worldwide." We have created the Melt Extrusion Deposition (MED®) 3D printing pharmaceutical process, transforming the delivery, development, and production of medication through digital product development and continuous manufacturing.
Leveraging our proprietary 3D printing pharmaceutical technology, we design and develop transformative medications for patients. Through collaboration with global pharmaceutical companies, we tackle challenging formulation issues, accelerating the development of new drug products and improving the quality of pharmaceuticals.
Our vision is to become the world's most influential intelligent pharmaceutical enterprise.
