25 Chinese Academia-Spinoff Biotechs Secure Nearly RMB 3 Billion in Funding, Several File for IPO

Nov 14, 2024 17:13 CST Updated 17:13

METiS TechBio

AI-Driven Drug Formulation Developer

KQbi

Recombinant Protein Drug Developer

RecoRNA

Innovative Drug Developer

New Radiomedicine

Radiopharmaceuticals Developer

▎Edited by the WuXi AppTec content team

Academic Transformation Company refers to the companyThe founding team or core technology originates from universities and research institutes,This endows it with a deep scientific research foundation and cutting-edge technological innovation capabilities. By transforming groundbreaking scientific discoveries into potential drugs, these companies have the potential to fill market gaps and accelerate the development of new therapies.According to incomplete statistics,In the first three quarters of 2024, at least 25 Chinese academic translation and innovative drug companies completed a new round of financing, with a total amount of nearly 3 billion yuan.。Highlights worth paying attention to are as follows:

Nearly Half Are Billion-Yuan Level Financings:11 companies have completed high-value financings of nearly RMB 100 million or more, with the highest potential financing amount coming fromMETiS TechBio Completes $100 Million Series C Financing, Deeply Applying Artificial Intelligence Technology to Focus on Small Molecule and Nucleic Acid Drug Development.
Nucleic Acid Drugs Gain Wide Attention, Radiopharmaceuticals Show Strong Momentum:At least six companies that have received financing are advancing the research and development of nucleic acid drugs, including METiS TechBio, Shanghai Xunyao Biotechnology Co., Ltd., SINEUGENE, DSciLab, KQbi, and RecoRNA. At least three companies are involved in the radiopharmaceuticals field, among which New Radiomedicine and Lan Nancheng have both secured substantial funding of 300 million yuan or more.
Shanghai and Guangdong have a strong academic entrepreneurship atmosphere:Six academic transformation companies have received financing in the first three quarters of this year, including those located in Shanghai.Shanghai Xunyao Biotechnology Co., Ltd., Zhenxu Biotechnology, Biaoxin Biotechnology, etc., as well as those located inLemon Biotech, Crystal Biotech, and Aoli Biotech in Guangdong.

METiS TechBio Completes $100 Million Series C Financing

On June 21, METiS TechBio announced the completion of a $100 million Series C financing round, led by a fund under CICC Capital, with participation from Taiping Hong Kong Insurance Technology Innovation Fund under China Taiping.

METiS TechBio, founded in 2020, is an innovative biotechnology company driven by AI in drug delivery and drug discovery. It was established and is led by Dr. Hongmin Chen, an academician of the U.S. National Academy of Engineering, alongside Dr. Caida Lai and Dr. Wenshou Wang from the Massachusetts Institute of Technology. Currently, METiS TechBio has independently developed three core AI+ technology platforms: the AI-driven nucleic acid delivery system design platform (AiLNP), the AI-driven mRNA sequence design platform (AiRNA), and the AI-driven small molecule formulation design platform (AiTEM). Additionally, the company has created a proprietary technical route for METiS TechBio that deeply integrates dry and wet lab experiments.The company'sThe R&D pipeline covers small molecule drugs and nucleic acid drugs, mainly mRNA., focusing on therapeutic areas with significant clinical demand, such as oncology, central nervous system disorders, and liver diseases.According to the press release, the company's fastest progressing small molecule pipeline has entered Phase 3 clinical trials, and the mRNA immunotherapy pipeline is expected to enter clinical trials this year.

New Radiomedicine Completes Over 300 Million Yuan in Series C Financing

News on March 14: New Radiomedicine announced the completion of a C-round financing of over 300 million yuan. This round of financing was invested by Chengdu Sci-Tech Investment, Chengdu Bio-City Fund, Sichuan Venture Capital, and others, with existing shareholders such as Huaxing Kangping, Xinjun Capital, and Starry Capital continuing to increase their investment.

New Radiomedicine was founded in 2016 by a group of experts and scholars, including former president of China Nuclear Power Research and Design Institute, researcher Qian Jihui, who have long been engaged in nuclear technology research and development. The company has now established itself.Innovative nuclear medicine R&D pipeline comprising more than 10 productsAmong them, NRT6003 injection is yttrium [⁹⁰Y] Carbon Microspheres Injection is currently undergoing clinical research in China for primary liver cancer and metastatic liver cancer. Another radiopharmaceutical developed by the company, NRT6008 Injection (a yttrium[⁹⁰Y] Carbon microspheres) have also entered clinical research in China, targeting locally advanced pancreatic cancer that cannot be surgically removed.

Lan Nancheng Completed300 million yuanSeries B+ Financing

April 2024, Dongcheng PharmaceuticalAnnounces that its holding subsidiary, Lan Nancheng, plans to introduce investors through a capital increase and share expansion. The round is led by Shenzhen Capital Group, with participation from Qianhai Ark, Yantai Finance, Longxin Investment, and Aohua Clean Energy. The B+ round financing amounts to 300 million yuan.

Lan Nancheng was founded in 2021.Focus on the Development of Class 1 Innovative Theranostic Radiopharmaceuticals with Global InnovationAccording to publicly available information, the company's co-founder, Professor Chen Xiaoyuan, serves as an academician of the European Academy of Sciences and a professor at the National University of Singapore, among other roles. He has made pioneering research and outstanding contributions in the fields of nuclear medicine and nanomedicine. Currently,Lan Nancheng has established a relatively complete pipeline for radionuclide diagnosis and treatment, with targeted drugs covering small molecules, peptides, and antibodies. The products are involved in areas such as prostate cancer, solid tumors, gliomas, and neuroendocrine tumors.

Shanghai Xunyao Biotechnology Co., Ltd. Completes Nearly 200 Million Yuan in Series A Financing

On January 10, Shanghai Xunyao Biotechnology Co., Ltd. announced the completion of a nearly 200-million-yuan Series A financing round, led by Longpan Investment with additional investment from the original shareholder, Shanghai Biomedical Fund. The funds raised will support the advancement of clinical and preclinical research for the company's existing pipeline.

Shanghai Xunyao Biotechnology Co., Ltd. was founded in May 2021, incubated and established by Professor Junling Liu's team with the support of Shanghai Jiao Tong University School of Medicine, Shanghai Pharmaceuticals Holding Co., Ltd., and Shanghai BioPharmaceutical Fund, among others.Focusing on the Development of Innovative Drugs in the Coagulation, Hemostasis, and Fibrosis FieldsAccording to publicly available information from Shanghai Xunyao Biotechnology Co., Ltd., since its establishment, the company has built an original target and new molecular pipeline in the fields of pulmonary fibrosis and coagulation disorders such as thrombocytopenia, hemophilia, and thrombotic diseases based on years of technical accumulation by the founding team. Additionally, it has established a next-generation antibody and protein drug discovery and modification technology platform based on synthetic biology.

Hope Medicine Completes Nearly 200 Million RMB B+ Round Financing

News on February 7: Hoicel Pharma announced that it has recently completed a B+ round of financing worth nearly 200 million RMB. This round of financing was jointly led by Xichuang Investment and VMS Group, with participation from Huairou Science City, Enran Venture Capital, and Beijing Zhongyin. Existing shareholders Zhenxin Capital, Yuanyi Investment, Qiming Venture Capital, and Innovation Works also continued their support. The proceeds will strongly support the two ongoing international Phase II clinical trials of Hoicel Pharma’s core pipeline—HMI-115 monoclonal antibody—and the research and development of other product pipelines.

Hope Medicine is a science-driven innovative biopharmaceutical company at the clinical stage. It focuses on common and major diseases that threaten human health and is committed to researching, developing, and commercializing first-in-class new drugs. The company was founded based on the profound understanding and decades of research achievements in translational medicine by Professor Rui Ping Xiao, Dean of the Academy for Future Technology at Peking University, and her team. On October 15, Hope Medicine's Class 1 new drug, HMI-115, was proposed for inclusion in the breakthrough therapy designation category, with indications for treating moderate to severe pain associated with endometriosis. Public information shows,HMI-115 is a novel monoclonal antibody drug targeting the prolactin receptor (PRLR).`, and Hope Medicine has global rights to the product.`

Yanming Biotech Completes Hundreds of Millions of RMB in Series A+ Financing

News on May 24: Yanming Biotech announces the completion of a RMB hundreds of millions A+ round of financing. Yanming Biotech is committed to...Developing Innovative Drugs for Inflammatory Diseases and CancerThe proceeds from this round of financing will be used to support the clinical research of the company's ALPK1 small molecule agonist PTT-936, advance other innate immune inhibitors and pyroptosis inhibitor projects, and expand the R&D pipeline.

Public information shows that Yanming Bio was co-founded by Academician Feng Shao and Dr. Tianjing Deng. Its scientific foundation is based on Academician Feng Shao’s biological discoveries in the fields of innate immunity and pyroptosis. The company focuses on addressing key medical issues in inflammation and oncology that remain unresolved as its main research content. Yanming Bio currently has 10 R&D projects with novel mechanisms and targets, including several innate immune inhibitors and pyroptosis inhibitors for which PCCs (Pharmacophore Control Centers) have been identified, and preclinical development is underway. The most advanced project is the ALPK1 agonist PTT-936, which is currently undergoing clinical trials in the United States. It works by activating the body's immune system for cancer treatment.

KQbi Completes Over RMB 100 Million in Series A+ Financing

On August 8, Correcta Bio announced the completion of an over RMB 100 million Series A+ financing round. This round was led by Shanghai Guotou Futeng Capital, with follow-on investments from existing shareholders including Lianxin Capital, Boyu Capital, Lilly Asia Ventures, Monolith Capital, and Sequoia China. According to Correcta Bio's press release, this funding will further accelerate the clinical research and commercialization of CS-101, support the clinical translation of its in vivo therapeutic pipeline, and drive global expansion and the early market launch of its gene-editing products.

KQbi is a biopharmaceutical technology company at the clinical stage.Focus on New Gene Editing TechnologiesIncubated from ShanghaiTech University, this company is committed to leveraging globally innovative base editing systems to develop breakthrough precision therapies. The company has created various precision treatments based on the transformative Base Editor (tBE) and other base editing systems, with multiple pipelines targeting genetic diseases, metabolic diseases, and cardiovascular diseases. Among these, the lead pipeline CS-101 by RecoRNA is an innovative gene-editing therapy for hemoglobinopathies. The Phase 1 clinical trial for β-thalassemia is currently progressing steadily, and preparations for a clinical trial to treat sickle cell anemia are also underway.

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