▎WuXi AppTec Content Team Report

Company: Rona Therapeutics

Financing Round:Series A+

Financing Amount: 35 Million US Dollars

July 19 News: Rona Therapeutics, focusing on nucleic acid drug development（Rona Therapeutics）Announcement CompletedSeries A+ $35 Million Financing,For Promoting InnovationsiRNA Metabolism Pipeline ProjectEntering global development and expanding solidlyExtracellular hepatic delivery platforms for the central nervous system and other fields.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 medicines forMetabolic Diseases and Central Nervous System Degenerative DiseasesTreatment.The company is advancing the siRNA pipeline project generated based on a new 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.

Company: Draupnir Bio

Financing Round: Seed Round

Financing Amount: 12 Million Euros

July 17, News: Draupnir Bio, a biotechnology company dedicated to developing oral small molecule degraders, announced the completion of a seed equity financing round totaling 12 million euros.The proceeds will be used to further develop its preclinical pipeline of oral small molecule protein degraders.The investors in this round of financing include MP Healthcare, the venture capital group under Mitsubishi Tanabe Pharma Corporation, EIFO, a financing fund supported by the Danish government, as well as existing investors Gilde Healthcare Partners, Inkef Capital, and Novo Holdings.

Draupnir Bio is a Danish biotechnology company dedicated to leveraging the natural mechanisms of lysosomes.Development of Oral Small Molecule Degraders for Extracellular Pathogenic ProteinsThis is the frontier direction of Targeted Protein Degradation (TPD). It is reported that this is a rapidly developing field, utilizing the cell's own destruction mechanism to address disease-causing proteins that are difficult to target with traditional therapies.Draupnir is leveraging its novel and differentiated proprietary technology platform, utilizing lysosomal receptors, to extend the potential of TPD to target extracellular and membrane-bound proteins in a groundbreaking way, which could bring transformative changes to the TPD field.

Company: Ancilia Biosciences

Financing Round:Unknown Wheel

Financing Amount:$4.2 million

News on July 17,A biotechnology company that uses CRISPR technology to develop bacterial therapies and products with immunity to destructive virusesAncilia Biosciences Announces Completion of $4.2 Million Financing Round Led by Safar Partners, with Participation from Metaplanet, Psymed Ventures, Zubi Capital, Spacecadent Ventures, and Other Institutional and Private Investors.

Bacteriophages, viruses that attack bacteria, are the most abundant biological entities on Earth, accounting for at least half of the human microbiome. They may cause human diseases and could also limit the efficacy of beneficial bacterial products. Ancilia Biosciences identifies and characterizes these viruses through its proprietary CoVE™ platform and applies its exclusive EPIC platform to harness the natural CRISPR functions of bacteria, creating living biotherapeutics and other microbial products that are immune to these viruses.

Company:NGM Biopharmaceuticals

Financing Rounds:Series A

Financing Amount:$122 million

News on July 17,NGM BiopharmaceuticalsAnnounced the completion of a $122 million Series A round of financing,To initiate the registration trial of aldafermin (an engineered FGF19 analog) for the treatment of primary sclerosing cholangitis (PSC) and complete the Phase 2 trial of NGM120 (a GDF15/GFRAL antagonist) for the treatment of hyperemesis gravidarum. Both trials are expected to commence in the fourth quarter of 2024. This round of financing was led by TCG.And multiple other investors participated.

NGM Biopharmaceuticals Focuses on the Discovery and Development of Novel, Life-Changing Drugs. According to reports, NGM Bio's biology-centered drug discovery approach aims to seamlessly integrate insights into the biology of complex diseases and expertise in protein engineering, generating promising candidate products that enable rapid advancement into proof-of-concept studies and address unmet patient needs.

Company: Renalys Pharma

Financing Round: Series A

Financing Amount:60 billion yen ($38 Million）

News on July 17: Renalys Pharma announced the completion of a 6 billion yen (approximately 38 million USD) Series A financing round to support itsIgA Nephropathy Treatment DrugsThe Phase 3 clinical trial of sparsentan in Japan, as well as the advancement of other drug development projects. This round of financing was led by Catalys Pacific and SR One, with participation from multiple other investors.

Renalys Pharma was founded in 2023, focusing on the research and development of potential drugs for treating chronic kidney diseases. The company currently has seven drugs in the IND to NDA/BLA stages, advancing the treatment of kidney diseases in Japan and across Asia, providing patients with better therapeutic options.SParsentan is the company's core product,For a"First-in-class" endothelin/angiotensin receptor antagonist with dual mechanisms, received FDA approval in February 2023.Accelerated Approval, used to reduce the high disease progressionRiskProteinuria in patients with IgA nephropathy.The product is manufactured byDeveloped by Travere Therapeutics,Renalys has rights in certain countries and regions.This product was onceListed by Clarivate as one of the 15 potential blockbuster therapies to watch in 2023.

Cardurion Pharma

Financing Round: Series B

Financing Amount: $260 Million

July 17 News: Cardurion Pharma announced the completion of a $260 million Series B financing. The proceeds will be used to support late-stage clinical trials for the company's two leading drug candidates, which arePotential "First-in-Class" PDE9 Inhibitor for the Treatment of Heart Failure, which has already been obtained in Phase 2 clinical trialsProof of Concept; as well as calcium/calmodulin-dependent protein kinase II (CaMKII) inhibitors with broad therapeutic potential, intended for the treatment of catecholaminergic polymorphic ventricular tachycardia.

Scorpion Therapeutics

Financing Round: Series C

Financing Amount:$150 million

July 17 News: Scorpion Therapeutics announced the completion of a $150 million Series C financing. The funds will be used to advance the development of its differentiated small-molecule oncology programs. Scorpion Therapeutics was founded in 2020 and was selected in 2021.Fierce 15: Annual Biotech PowerhouseList. The company is advancingAllosteric, Differentiated, Mutation-Selective PI3Kα InhibitorClinical Trials of STX-478: This product avoids the inhibition of wild-type PI3Kα in normal tissues, thereby reducing targeted toxicity. Other ongoing projects at Scorpion Therapeutics also includeTwo EGFR InhibitorsAnd other pipelines for the next generation of precision cancer treatments.

CatalYm

Financing Round: Series D

Financing Amount:$150 million

July 17, CatalYm announced the completion of its $150 million Series D financing.CatalYmAlreadyGDF-15Defined as a key drug resistance mechanism in cancer treatment, and is being developed into an immunotherapy for solid tumors.The company is currently conducting lead antibody product,ATargeted Neutralizing Growth Differentiation Factor-15 (GDF-15) Humanized Monoclonal AntibodyPhase 2b Study of Visugromab (CTL-002) for Multiple Solid Tumor Indications.Public information shows that visugromab combined with anti-PD-1 antibody has demonstrated good safety and effective, durable anti-tumor efficacy in treating patients with advanced cancer.

Asceneuron

Financing Round: Series C

Financing Amount: 100 Million US Dollars

July 17: Asceneuron announced the completion of an oversubscribed $100 million Series C financing. The proceeds will be used to advance its lead program, ASN51, into Phase 2 clinical development for the treatment of Alzheimer's disease.Asceneuron Focuses on Developing Orally Bioavailable Therapies to Treat Debilitating Neurodegenerative Diseases with Significant Unmet Medical Needs.The company is developing two clinical-stageSmall Molecule OGA InhibitorAmong them, ASN90 (licensed to Ferrer Pharmaceuticals) is used for the treatment of Progressive Supranuclear Palsy (PSP), and ASN51 is used for the treatment of Alzheimer's disease.

ASN51 is an orally administered small molecule drug designed to inhibit the enzyme OGA, which is associated with protein aggregation. By preventing the aggregation of tau proteins, it aims to slow the progression of Alzheimer's disease.According to the press release, ASN51's unique mechanism of action and...Oral FormulationMaking it a potentially ideal therapy for Alzheimer's patients.Besides,AsceneuronThe company also plans to advance preclinical development for Parkinson's disease, amyotrophic lateral sclerosis (ALS), and other neurodegenerative diseases.

Haobo Medicine

Financing Round: Series A

Financing Amount: 37 Million US Dollars

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 established by Innovent Biologics, led the additional investment, with participation from OrbiMed China, HLC Ventures, Qiming Venture Partners, and Genesis Capital.Participate together. Draupnir Bio focuses on the functional cure of HBV chronic hepatitis B and the development of highly targeted therapies for liver diseases, while also expanding into targeted small nucleic acid treatments for new targets beyond the liver. The company’s research and development has led to...The 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 Drug。

It is hoped that, with the support of capital, these companies can accelerate the development of their therapies under research and benefit more patients as soon as possible.

[1] Official websites of various companies and public materials