“Triastek Secures Impressive Pre-C Financing, Accelerating Drug Development and Manufacturing Solutions” by Oliver Johnson
In a groundbreaking development, Triastek has recently announced the completion of a highly successful Pre-C financing round, raising a staggering 20.4 million USD. This significant milestone heralds a major step forward in Triastek’s efforts to revolutionize drug development and manufacturing through its innovative solutions.
Guoxin Investment led the impressive funding round, joined by Goldmine Multi-family Office and Xiaodong Zheng, President of Shanghai Tofflon Science and Technology Co. Ltd. China Renaissance, renowned for its financial expertise, acted as the exclusive financial advisor throughout the process.
Triastek has garnered considerable investor interest even before this recent funding achievement. Notable investors include Tasly Holding Group, Morningside Venture Capital, Volcanics Venture, Dalton Venture, Yunqi Partners, Xiaodong Zheng, Matrix Partners China, CPE, Shanghai Sci-Tech Innovation Center Capital, and Triwise Capital.
The company’s proprietary technology, the Melt Extrusion Deposition (MED) 3D printing process, along with digital formulation development methods, enables precise drug delivery and controlled release. In addition, Triastek is actively engaged in developing other cutting-edge processes, such as Semi-Solid Extrusion, Micro-Injection Moulding, and Micro-Droplet Jetting.
Dr. Senping Cheng, the Founder and CEO of Triastek, expressed his excitement for 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.”
Triastek’s strong commitment to collaboration is evident through its strategic partnerships with renowned global pharmaceutical companies, including Eli Lilly, Merck KGaA, Boehringer Ingelheim, Siemens, and Sperogenix. These collaborations are focused on developing novel products and advanced technical solutions to address unmet medical needs.
The recent funding round has attracted high praise from industry leaders. Lu Zhen, CEO of Guoxin, expressed his confidence in Triastek as a global leader, stating, “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.”
Goldmine Multi-family Office emphasizes the dual value of supporting groundbreaking companies like Triastek, affirming, “Supporting companies like Triastek enables our family capital to achieve high-quality inheritance while making valuable contributions to society.”
Xiaodong Zheng, President of Tofflon, lauded Triastek for its remarkable progress, stating, “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.”
Jiang Jiajia, Managing Director of the Medical and Life Sciences Division at China Renaissance, expressed firm belief in Triastek’s potential, saying, “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.”
Triastek’s achievements have not gone unnoticed, as the company recently received the prestigious “Night of Additive Excellence” award in the 2023 TCT Awards. This recognition further solidifies Triastek’s position as a leader in the field of additive manufacturing.
As Triastek continues to carve its path towards transforming the pharmaceutical industry, the company invites discussions and collaborations within the additive manufacturing community. Join the conversation on the TCT Additive Manufacturing Network and stay up-to-date with the latest industry insights by subscribing to a free print subscription of TCT Magazine. And don’t forget to mark your calendars for the ultimate 3D printing and additive manufacturing event, TCT 3Sixty, where you can exhibit and witness the cutting-edge breakthroughs firsthand.
Triastek’s recent accomplishment in securing significant funding sets the stage for their continued success in the pursuit of advancing drug development and manufacturing solutions. With its revolutionary technologies and strong industry partnerships, Triastek is poised to make a lasting impact on the pharmaceutical landscape and contribute to the well-being of society as a whole.
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