Harvard-Originated, Shenzhen-Based Organoid Biotech Signet Therapeutics Secures Nearly RMB 100 Million in Pre-A Funding and Files IPO Prospectus

Biotech Transformation Network learned: December 3, 2024,Signet Therapeutics (Shenzhen) Co., Ltd. (hereinafter referred to as "Signet") announced that the company has secured over 70 million RMB in Pre-A round financing and project funding. The funds will be used to support the Phase I clinical trial of the first pipeline, SIGX1094, and accelerate the IND application process for the second pipeline. Additionally, the company will further optimize and upgrade its organoid disease model platform to empower a broader range of new drug development needs. The company’s Series A financing is currently underway, with Riemann Hypothesis serving as the exclusive financial advisor.

SIGNET was founded at the end of 2020 by an outstanding team of scientists from top-tier institutions, including Harvard University's Dana-Farber Cancer Institute. The company’s founders made the world’s first discovery of a novel target for diffuse gastric cancer and leveraged organoid disease models combined with AI technology to develop SIGX1094, the world’s first targeted drug for diffuse gastric cancer. This drug has received IND approval from both the U.S. FDA and China’s NMPA, entered Phase I clinical trials, and recently obtained Orphan Drug Designation from the U.S. FDA.

Founder and CEO of the company,Dr. Haisheng Zhang，Postdoctoral Fellow at Dana-Farber Cancer Institute (DFCI), Harvard University, and Researcher at the Broad Institute of MIT. Currently serving as the Founder and CEO of SIGNET (Signet Therapeutics), while concurrently holding the position of Director of the Cancer Targeted Therapy Research and Development Center at Tsinghua University Research Institute in Shenzhen, and Adjunct Professor at Nanfang Hospital, Southern Medical University. He is dedicated to targeted therapy and companion diagnostics for gastric cancer. As the first author, he published a paper in the top-tier journal *Cancer Discovery* (IF 39.4), where he globally identified FAK as a robust target for diffuse gastric cancer for the first time and elucidated the pathogenesis of this cancer. Subsequently, he founded SIGNET (Signet Therapeutics) to develop the world’s first targeted drug for diffuse gastric cancer and other cancer types based on this target. The IND for this pipeline has been approved by the U.S. FDA.

Prior to this, SIGNET secured nearly 150 million RMB in funding from well-known investment institutions, including TianTu Investment, FiveSource Capital, XtalPi, Lihex Ventures, Blue Ocean Capital, Cloud Nine Capital, YaYi Capital, and Songhe Capital. The company has built an international talent team and established a comprehensive self-developed system, focusing on developing first-in-class targeted drugs to fill clinical gaps. At the same time, relying on its unique organoid platform, it supports pharmaceutical companies worldwide in drug development.

Signet Therapeutics is the first company in China to develop innovative targeted cancer drugs based on organoid disease models and AI. Initially founded on the Harvard University campus, it was established in Shenzhen at the end of 2020, securing nearly 220 million yuan in financing and project funding. Signet is not only a transliteration of "Signet" but also adheres to the vision of “Hopeful Aspirations, Investigating Things to Gain Knowledge.” The company leverages organoid disease models that closely reflect the genomic characteristics of patients, playing a key role in drug efficacy evaluation and new target discovery. Combining AI-powered screening, synthesis, and optimization of small molecule compounds, Signet develops first-in-class innovative targeted drugs. Currently, the company has four drug pipelines, with the lead pipeline developing SIGX1094, the world’s first targeted drug for diffuse gastric cancer, which has now entered Phase I clinical trials. The company operates 1,200 square meters of R&D space and 500 square meters of animal laboratory facilities. Signet Therapeutics’ disease model platform not only serves its own drug pipelines but also actively empowers large pharmaceutical companies in new drug development. Collaborative partners include Shenzhen BioRay Pharma, Genuine Biotech, and others, supporting the creation of more innovative drugs.