Ten Chinese Innovative Biopharma Companies Secure New Funding Rounds

Jul 29, 2024 10:58 CST Updated 10:58

BAO PHARMA

Biopharmaceutical R&D and Manufacturer

Rona Therapeutics

Nucleic Acid Drug Developer

▎WuXi AppTec Content Team Report

July 2024 is drawing to a close. According to the Instant Drug Database, in July (as of July 28), at least 13 companies in China's biopharmaceutical sector completed new rounds of financing. The technologies and pipelines of these funded companies involvesiRNA, antisense oligonucleotides (ASO), etc.Nucleic Acid Drugs;Cell therapy drugs based on fibroblasts, cell therapy drugs based on pluripotent stem cells,Induced neural stem cells (iNSC) and other cell therapies; as well as small molecule targeted drugs, vaccines, and live biotherapeuticsand other fields, coveringA variety of cancers, metabolic diseases, neurological disorders, and rare diseases, among others. This article will introduce 10 emerging companies dedicated to innovative drug development based on publicly available information.

Company: BAO PHARMA

Financing Round: Series C

Financing Amount: Hundreds of Millions of Yuan

July 19 News: BAO PHARMA announced the completion of a C-round financing worth hundreds of millions of RMB, led by Shanghai BioPharmaceutical Fund, with participation from Shanghai Science and Technology Innovation Group, Baoshan State Investment Group, and existing shareholder Shengde Pharmaceutical Factory. Founded in 2019, BAO PHARMA focuses on innovative drug research and development based on a "synthetic biology" technology platform.

According to the introduction in BAO PHARMA's press release, the company's pipeline includes: 1)Subcutaneous InfusionRecombinant Human Hyaluronidase, has submitted a drug registration and marketing authorization application to China NMPA and has been accepted; 2)Recombinant Human Follicle-Stimulating Hormone-CTP Fusion Protein, a long-acting follicle-stimulating hormone administered once a week for use in the field of assisted reproduction, has submitted an application for marketing authorization to China's NMPA and has been accepted; 3)Recombinant Immunoglobulin Degrading Enzyme, the second-generation IgG degrading enzyme (low immunogenicity), can be applied in fields such as organ transplantation, over a hundred types of acute autoimmune diseases caused by autoantibodies, and pre-existing antibody clearance before gene therapy, and is about to enter Phase 3 clinical trials in China.

Company: Rona Therapeutics

Financing Round:Series A+

Financing Amount: 35 million US dollars

July 19, Rona Therapeutics（Rona Therapeutics）Announcement CompletedSeries A+ $35 Million Financing。The round of financing was led by LongRiver Jiangyuan Investment, with participating investors including Zhaode Investment, Boyuan Capital, Zhongqi Capital, and Lilly Asia Ventures, among others.Rona Therapeutics is committed to the research and development of innovative nucleic acid drugs forMetabolic Diseases and Central Nervous System Degenerative DiseasesThe treatment, this round of financing willFor Promoting InnovationsiRNA Metabolism Pipeline ProjectEntering global development and expanding solidlyCentral Nervous System and Other FieldsExtrahepatic Delivery Platform。

Rona Therapeutics is advancing the siRNA pipeline projects generated from the next-generation siRNA platform, with the first pipeline RN0191.PCSK9 siRNA ProjectCompleted Phase 1 clinical studies in Australia and China, and is advancing into Phase 2 clinical development for hypercholesterolemia;TargetingAPOC3Double-stranded small interfering RNA (siRNA) drugRN0361 has recently been approved for Phase 1 clinical research in Australia, aiming to evaluate in adult subjects with elevated triglycerides.Subcutaneous AdministrationSafety, tolerability, pharmacokinetics, and pharmacodynamic effects.

Company:Xia TongshengObject

Financing Amount: Undisclosed

On July 19, Xiatong Bio announced that it had received investment from a fund under a well-known listed company to accelerateDemyelinating DiseasesInvestigator-initiated clinical trials (IIT) and new drug clinical trial applications (IND) for pipelines.Xiatong Biotech was founded in 2022, focusing on the development of oligodendrocyte precursor cells (OPC) for the treatment of nervous system diseases using cell reprogramming and induced differentiation technology.

According to the press release, Xiatong Biotech has demonstrated that exogenous OPCs can form myelin in vivo. The company has also established a commercial-scale in vitro industrial preparation technology for human-derived OPCs and pioneered a method to generate OPCs in one step from PBMCs as starting cells through transcription factor and small molecule-induced reprogramming.Induced Neural Stem Cells (iNSC) method, which makes the cell source abundant and unrestricted, and the entire process does not involve embryonic stem cells. The company plans to use OPC treatment.Hypomyelinating LeukodystrophyAndMultiple SclerosisAnd other diseases.

Company: Haobo Pharmaceuticals

Financing Round: Series A

Financing Amount:$37 Million

On July 15, Haobo Medicine announced the completion of a $37 million Series A financing round, which was led byInnoPinnacle Fund, a US dollar fund initiated and led by Innovent BiologicsLed by additional investment, Vivo Capital, H&Q Healthcare Capital, Qiming Venture Partners, and Vivo Capital participated together. Aurobac Pharmaceutical focuses on the functional cure of chronic hepatitis B (HBV) and highly efficient targeted therapies for liver diseases, while also expanding into targeted small nucleic acid treatments for new targets beyond the liver. The company has developedThe Potential for "Functional Cure" of Hepatitis BThe naked antisense oligonucleotide (ASO) drug AHB-137 injection has recently been included by China's NMPA.Breakthrough Therapy Products。

Company:Vertebration Medicine

Financing Round: Angel Round

Financing Amount:Tens of Millions of Yuan

July 12 news,Vertebrum MedicalAnnounced the completion of an angel round of financing worth tens of millions of yuan. This round of investment was jointly led by Kailiyan Medical and Zhangjiang Life Health Industry Incubation Angel Fund ("Zhangke He Miao Fund"), with Huayi Capital participating.Vertebration Medicine isDeveloping Innovative Cell Therapies Based on FibroblastsStart-up enterprises.According to the press release, the funds raised will be mainly used for the companyCell Therapy Products for Lumbar Disc DegenerationDevelopment, etc.

The core pipeline of Zhiyuan Medicine, FibroCell Human Fibroblast Injection, is a cell-based drug that manages intervertebral disc degeneration by inducing degenerated nucleus pulposus cells to transform into fibroblasts.Multiple dose groups in IIT studies have been completed.Compared with current treatment methods, this therapy has clear clinical value for patients with early- to mid-stage intervertebral disc degeneration.

Company:Pukang Biotech

Financing Round: External Financing

Financing Amount:100 million yuan

On July 12, Pukang Biotech announced the completion of external financing, introducing Yanshan Technology as a financial investor, with financing of 100 million yuan. The company's predecessor was established in 1991, and its main product is the freeze-dried live attenuated hepatitis A vaccine. In 2021, Pukang Biotech completed an equity adjustment and embarked on a second round of entrepreneurship, selecting pipelines with strong technical foundations and high certainty to advance industrialization development, among which...Human Rabies Vaccine (Human Diploid Cells)Has entered the Phase 3 clinical trial stage,Hepatitis A Inactivated VaccineHas entered the pre-IND stage,Cell-Based Influenza VaccineThe technical verification of related cell and toxin seed processes has been completed; at the same time, the company has also invested research efforts into the study of recombinant protein vaccines and viral vector vaccines, building relevant technology platforms.

Company:YueSai Bio

Financing Round:Series A+

Financing Amount:Tens of Millions of Yuan

July 11,YueSai Bio announces that it has raised over 100 million yuan in Series A funding since April this year.FinancingAfterwards, the company gained againTens of Millions in A+ Round Financing.This round of financing was participated by Guokong Innovation Investment.FinancingThe funds will be mainly used to advance the company's innovative pipeline in the field of stem cell therapy and accelerate clinical translation.

YueSai Bio was founded inIn 2021,Dedicated to developing a new generation of cell therapy drugs based on human pluripotent stem cell technology. According toYueSai Bio Official Website Information,The company has now developed multiple product pipelines, includingMidbrain dopaminergic neural precursor cells, GABAergic neural precursor cells, GABA intermediate neural precursor cells, spinal cord neural precursor cellsetc., involvingParkinson's disease, hypoxic-ischemic encephalopathy, epilepsy, spinal cord injuryIndications.

Company: Antishengshi

Financing Round: Series A

Financing Amount:Nearly 100 million yuan

July 3rd, news came that Antacids Shengshi has completed a nearly 100-million-yuan A round of financing, led by SDIC Venture, with the original shareholder and Ruihe Venture SCA3 Industry Fund following up.The funds raised in this round will be used to accelerate the advancement ofDuchenne Muscular Dystrophy (DMD) and Spinocerebellar Ataxia Type 3 (SCA3)Products for indications such as...

Antion Therapeutics was founded in 2017, focusing on the developmentInnovative Antisense Oligonucleotide (ASO) Drugs Targeting RNA SplicingThe company currently has multiple product pipelines under development and has achieved promising animal experimental data in preclinical studies.For DMDCompared with the control drug, the product increased the protein expression level more than 10 times; targetingSCA3'sThe product has also initiated IIT research. In addition, Antishengshi continues to expand the application of new technologies inTumorAndSpinal Muscular Atrophy (SMA)Applications under development.

Company:Moen Bio

Financing Round:C+ Round

Financing Amount:300 million yuan

July 1 news: Moom Bio has recently announced the completion ofC+ Round Financing of 300 Million Yuan, exclusively invested by SDIC Julive.MoomBio is a biotechnology company focused on microbial discovery and biomanufacturing.In the biopharmaceutical sector, Muen Biotech currently has3 itemsClinical-stage drugs under research and multiple preclinical drug pipelines in development,Covering multiple therapeutic areas including cancer, obesity, type 2 diabetes, and non-alcoholic steatohepatitis (NASH).。

Moen BioThe independently developed innovative live bacteria biological drug MNC-168 enteric capsule is currently undergoing Phase 1 clinical research. This is aTumor Live Bacteria Drug, by long-term action on the intestinal mucosal microenvironment, reactivates the anti-tumor ability of the immune system, thereby achieving the purpose of treating various malignant solid tumors. MNO-863 is an innovative product independently developed by Muna Bio.Weight Loss Probiotic Drug, applicable for weight loss/metabolic syndrome. Preclinical data shows that four weeks of monotherapy with MNO-863 can reduce body weight by nearly 10%; when used in combination with GLP-1R agonist weight loss drugs, it achieves an average weight loss effect of over 20%.

Company:Anbang Biotech

Financing Round:Series A+

Financing Amount:NT$220 million

July 1 News: Anbogen Therapeutics announced the successful completion of its Series A+ funding round, raising NT$220 million. This round follows the NT$380 million Series A funding completed in February 2024, bringing the total raised to NT$600 million. The round was led by KGI Venture Capital and saw active participation from both existing and new investors.

AnBang Biotech is a clinical-stage biotechnology company developing precision oncology drugs.Among the company's products under development, ABT-101 isOral EGFR/HER2TyrosineTyrosine Kinase Inhibitors (TKI), the first indication isHER2 exon20Non-Small Cell Lung Cancer Caused by Gene Mutations;ABT-301 is aHDAC Inhibitors, the first indication is metastatic colorectal cancer, and they have all entered the human clinical trial stage;ABT-202 is aKRAS G12D Inhibitor,Currently in the preclinical research stage.According to the press release from Anbang Biotech, the funds from this A+ round of financing will be mainly used to support the Phase 2 clinical trial of ABT-301 in combination with a PD-1 inhibitor for the treatment of microsatellite stable (MSS) metastatic colorectal cancer.

In addition to the above 10 companies, several other companies, such as Luye Pharma, Crystal Core Biologics, and Innomab, also announced financing news in July. It is hoped that with the support of capital, these biopharmaceutical companies can accelerate the development progress of their drug candidates and bring new treatment options to patients as soon as possible.

References: (Swipe up and down to view)

[1] FANGYUAN Capital Ecosystem | BAO PHARMA Completes Over Hundreds of Millions of RMB in Series C Financing, Focusing on Synthetic Biology Technology Platform. Retrieved Jul 19, 2024, from https://mp.weixin.qq.com/s/C-yhlo1lQ7m389nVjDrxVg

[2] Rona Therapeutics Announces Completion of $35 Million Series A+ Financing to Advance Clinical Progress of Innovative siRNA Metabolic Pipeline and Development of Next-Generation RNA Platform. Retrieved Jul 19, 2024, from https://mp.weixin.qq.com/s/yISsFiOoV6ebLEKYl7bAhg

[3] NeuroXess Receives Investment from a Well-Known Listed Company's Fund! Retrieved Jul 19, 2024, from https://mp.weixin.qq.com/s/UiXiu3CNxIOJ2BqRUq4ZRw

[4] AusperBio Completes $37 Million Series A Financing to Accelerate Transformative Hepatitis B Cure Therapies. Retrieved July 15 , 2024, from https://cn.ausperbio.com/company.html

[5]Vertebrum Medicine Completes Tens of Millions of Angel Financing, Fully Advancing the Development of Innovative Cell Therapy Products for Intervertebral Discs. Retrieved July 12，2024, From https://mp.weixin.qq.com/s/jximS7NLJmXrF7A3Lzs8Tw

[6] Pukang Express | Pukang Bio Completes 100 Million Yuan Financing. Retrieved July 12，2024, From https://mp.weixin.qq.com/s/QnEtXbXC2ViEqQdc06yUOg

[7]YueSai Bio Receives Additional Tens of Millions in A+ Round Financing, Stem Cell Therapy Technology Continues to Gain Capital Recognition. Retrieved July 11, 2024, From https://mp.weixin.qq.com/s/Tt1BpB3DZ87K3tANNmVayg

[8] SDIC Venture Capital Leads Investment in ASO Innovative Drug R&D Company Antishengshi. Retrieved July 03，2024, From https://mp.weixin.qq.com/s/xumHVuCp_qMzwOpxfZUx_A

[9] Muen Biotech Completes 300 Million Yuan C+ Round Financing, Continuously Promoting the Industrialization of More Biotech Innovations. Retrieved July 1，2024, From https://mp.weixin.qq.com/s/IYpyu_9Snj2rmwzn9vexpQ

[10] Anbang Biotech Announces Completion of Series A+ Financing to Advance ABT-301 Phase II Clinical Trial. Retrieved July 1，2024, From https://www.anbogen.com/zh/news-240701.php

This article is from the content team of WuXi AppTec. Individuals are welcome to share it on their social media, but unauthorized reproduction by media or institutions in any form to other platforms is strictly prohibited.For reprint authorization and other cooperation requests, please contact wuxi_media@wuxiapptec.com.

Disclaimer: The content team of WuXi AppTec focuses on introducing the research progress in global biopharmaceuticals and health. This article is for information exchange only, and the views expressed in the article do not represent the position of WuXi AppTec, nor does it mean that WuXi AppTec supports or opposes the views mentioned in the article. This article is not a recommendation for treatment plans. If you need guidance on treatment options, please visit a regular hospital.