▎WuXi AppTec Content Team Report

Today, AusperBio announced the completion of a $37 million Series A financing round. This is another new financing in China's nucleic acid drug research and development field this year.

In recent years, the investment and financing market has continuously supported the medical revolution in the field of nucleic acids, driving cutting-edge breakthroughs and contributing to a healthier future. According to the Immediate Pharma Database, as of July 15, 2024, there were over a hundred financing events in China's biopharmaceutical sector. Among them, at least...15 Companies PossessingNucleic Acid Drugs (Including Oligonucleotides and mRNA Drugs) Technology or PipelineChinese new drug R&D companySecure financing progress.

Nucleic Acid DrugsUnique features and advantages,In fields such as cancer, viral infections, and rare genetic diseases, nucleic acid drugs have shown great promise. In recent years, a number of nucleic acid drugs have been approved for marketing globally. Industry experts point out,Nucleic acid-based therapies have become the third major drug category following small molecules and antibodies.However, this field still faces many challenges, including delivery.The industry is conducting various studies to break through R&D bottlenecks and unlock the therapeutic potential of nucleic acid drugs.

This article will review more than a dozen Chinese innovative drug startups that have received investment, and take a look at them.What challenges are they striving to address? What are the characteristics of their R&D pipeline? And which patient groups could these technologies and pipelines potentially bring change and hope to?

Image Source: 123RF

AusperBio

Financing Round: Series A

On July 15, AusperBio announced the completion of a $37 million Series A financing round, led by InnoPinnacle Fund, a US dollar fund initiated by Innovent Biologics, with participation from OrbiMed China, HLC Ventures, Qiming Venture Partners, and Vivo Capital. Dr. Cheng Guofeng, co-founder and Chief Executive Officer (CEO) of AusperBio, leads the company’s focus on functional cures for chronic hepatitis B (HBV) and highly targeted treatments for liver diseases, while also expanding into targeted small nucleic acid therapies for new targets beyond the liver. The company’s research and development efforts includeThe 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。

ASOcura

Financing Round: Series A

July 2nd, ASOcura announced the completion of a nearly 100-million-yuan A round financing, led by SDIC Venture Capital, with follow-up investments from existing shareholders and SCA3 Industry Fund of Ruivest.According to the press release, the funds raised in this round will be used to accelerate the advancement ofDuchenne Muscular Dystrophy, Spinocerebellar Ataxia, Huntington's DiseaseThe research and development of products for indications such as [indication], the application for registration of clinical trials, and the promotion of product development for multiple subsequent innovative pipelines.ASOcura was founded in 2017,Dedicated to Targeting RNA Processing for the Development of Antisense Oligonucleotide (ASO) Drugs, the company's founder Dr. Yimin Hua is a scientist in the ASO drug field. In recent years, ASOcura has made breakthrough progress in RNA splicing regulation, novel RNA processing, and other fields, and has established more than ten R&D pipelines, with some products already showing promising preclinical data.

Maikang Bio

Financing Round:Series C,C+ Round

On July 2, Maikang Bio announcedOver 300 Million Yuan in C+ Round Financing,Led by IDG Capital, with Hancon Capital and Qianhai Ark following up. Thus, Maikang Bio has completed its Series C and C+ rounds of financing in just half a year of 2024, with a total amount exceeding 600 million RMB. In February this year, the company announced the completion of a nearly 300-million-RMB Series C round exclusively invested by Shenzhen Capital Group.Financing。

Maikang Bio was founded in 2016,By scientists in the vaccine fieldDr. Chen DexiangCreation.The company owns a recombinant protein platform, an adjuvant technology platform,mRNA Technology Platform, etc., AusperBio has laid out a diversified R&D pipeline in the field of human vaccines for infectious, allergic diseases and cancer, including preventive vaccines for major infectious diseases, as well as therapeutic vaccines in areas such as HPV infection, allergic diseases, and cancer.

Shixi Bio

Financing Round:Angel+ Round

News on June 28: Shixi Bio announced the completion of the first closing of its multi-million yuan angel+ round of financing, jointly led by Beijing Life Science Park Ventures, TianTu Investment, and Yiyi Capital, with follow-up investments from Xitu Innovation Ventures and BeiGene Innovation Center, and continued support from Xiaochi Capital.Shixi Biotech was founded in December 2021.Focus on Developing Innovative Nucleic Acid Drugs, Founder and Chief Scientist is Professor Zhang Rui.

Public information shows that ASOcura adopts the path of small nucleotide drug development.This pathway is characterized by reversible efficacy and adjustable dosage, showing broad application prospects in treating various common diseases caused by non-genetic mutations and various indications requiring functional improvement, such as cardiovascular diseases, neurodegenerative disorders, and anti-aging., and also has good safety.

Agent Therapeutics

Financing Round: Series C

On June 21, JiTai Pharmaceuticals announced the completion of a $100 million Series C financing round, led by a fund under CICC Capital, with follow-up investment from Taiping Hong Kong Insurance Technology Innovation Fund under China Taiping. JiTai Pharmaceuticals, established in 2020, is an innovative biotechnology company driven by AI in drug delivery and drug discovery. The company's co-founder and CEO is Dr. Lai Cai-Da. The company’s R&D pipeline covers small molecule drugs andNucleic acid drugs dominated by 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 most advanced small-molecule pipeline has entered Phase 3 clinical trials, and its mRNA immunotherapy pipeline is expected to enter clinical trials this year.

Caribio

Financing Round: Unknown Round

On June 15, Caregen Biotech announced the completion of a new round of financing, exclusively invested by Phase I of the Zhangjiang Life Health Industry Incubation Angel Fund ("Zhangke He Miao Fund").Caribou Biosciences focuses on drug conjugation and delivery technologies and is developing antibody-small nucleic acid conjugate drugs, hoping to bring hope to patients with neuromuscular diseases through the extrahepatic delivery of nucleic acid drugs.The CEO of the company is Dr. Wu Hao.CaribioA brain-penetrating peptide platform, Brainferry, has also been developed, which is expected to assist small nucleic acid drugs in crossing the blood-brain barrier.Caribio currently has three main pipelines, including two for muscle diseases.Antibody-Nucleic Acid Conjugate (ARC),It is reported that,These drugs have higher siRNA activity and higher muscle delivery efficiency.

Evolution Healthcare

Financing Round: Angel Round

According toMicroEvolution (Beijing) Medical Technology Co., Ltd. (referred to as "Evolution Medical") OfficialPress Release: Early June, Galileo Capital announced the completion of its angel round investment in the company. Evolution Healthcare was founded in November 2023, led by Professor Du Peng, with founding team members from Tsinghua, Peking University, and the Chinese Academy of Sciences. The company focuses onCross-species Genetic Engineering DrugsR&D, the project stems from the innovative discoveries of a Peking University team——Repairing specific abnormal miRNAs in tumor cells through plant proteins to achieve broad-spectrum anticancer effectsThis core technology utilizes a plant gene expression system to mediate miRNA repair in human tumor cells, thereby achieving the goal of inhibiting tumor growth.

Starnucleus Dicai

Financing Round: Angel Round

On April 30, Starcore Dizai announced the completion of an angel round of financing worth nearly 100 million yuan, led by Fosun Pharma's Fosun Health Capital New Drug Innovation Fund, with participation from Crepharm Hangshi Chuangying Fund. The founding scientist is Professor Changyou Zhan. Established in June 2022, Starcore Dizai was incubated and set up by Fosun Health Capital New Drug Innovation Fund, aiming to become a company integrating R&D and production.Nucleic Acid Innovation Pharmaceutical CompanyAccording to the press release, AusperBio has developed two distinctive LNP delivery systems: a high-safety LNP targeting hepatocytes and an LNP enabling site-specific expression at the injection site, providing powerful tools for developing therapeutic mRNA drugs.The company has launched two pipelines for investigator-initiated clinical studies (IIT) and is preparing for IND submissions.

Hegia Bio

Financing Round:Round A1

On March 28, Hygieia announced the completion of nearly RMB100 million in Series A1 financing. This round of financing was led by Tasly Capital, with follow-up investments from Heda Health and Shanghai Jianxin Capital. Existing shareholders continued to increase their investment. Hygieia entered the small nucleic acid drug field in 2017.Committed to the construction of a delivery technology platform in the siRNA field and drug development, with pipelines covering hepatitis B, NASH/MASH, cardiovascular and cerebrovascular and metabolic diseases, complement-mediated related diseases, as well as neurological disorders.`, Company`CEO isMr. Guan Tao. Among them, the siRNA new drug jointly developed by the company and Starry Kunze, a subsidiary of Fosun Pharma, has already entered Phase 1 clinical trials, targetingChronic Hepatitis B Virus Infection。

Novobiom

Financing Round: Pre-B+ Round

News on March 30, NEWISH announced the completionA Pre-B+ round of financing worth tens of millions of yuan led by Yicun Capital.Novobiology was founded in 2014,Focus on early cancer treatment,Long-term commitment to R&DEnhance Vaccine T-Cell Immunity's strategy,and jointly with the Chinese Academy of EngineeringAcademician Jiang JiandongJointly Build a Super Targeted Activation of T-cell Immunotherapy (STARi) Research Platform.According to the press release from Novel Biotech, the company has filed three Class 1 new drug applications and successfully obtained IND approvals in the past three years. The funds from this financing will mainly be used for its...Two Novel Class 1 Nucleic Acid Tumor VaccinesClinical Trial Progress andNext-Generation Innovative Product PipelineDevelopment and registration submission.

KunQin Bio

Financing Round: Unknown

News on February 21st, Kunqin Biotech Completes Tens of Millions of Financing, This Round of Financing Was Exclusively Invested by Shaanxi Huake Innovation Investment Co., Ltd. (Abbreviated as Shaanxi Venture Capital). It is Reported That Since Its Establishment, Kunqin Biotech Has Been Focusing on the Upgrade and Replacement of Traditional Vaccines and the Research and Development of Innovative Vaccines.The company's core technology originates from the Chinese Academy of Engineering academician and president of Wenzhou Medical University.Li Xiaokun and his team. The companySuccessively developed quadrivalent influenza virus split vaccine, human diploid cell rabies vaccine, recombinant shingles vaccine, universal flu vaccine, and recombinant HPV vaccine, while exploring further developments leveraging its own technological advantages.mRNA Vaccine, new adjuvant vaccines, and new formulation vaccines, etc.

KeyJun Pharmaceuticals:

Financing Round: Series B

On January 31, KeyView Pharmaceuticals announced the completion of a 100-million-yuan Series B financing round. KeyView Pharmaceuticals was founded in 2018, with Dr. Gongxin He as the company's founder and CEO. The company is committed to the research and development of innovative small molecule and nucleic acid drugs and has built a targeted prodrug technology platform.Nucleic Acid Drug Technology Platform, is advancing the clinical development of a new generation of antiplatelet drugs and multiple antiviral drug pipelines. The company's CG2021V project targets the "functional cure" indication for chronic hepatitis B.Utilizing innovative mRNA technology in combination with siRNA products to achieve immune modulation in the body, resulting in the clearance of hepatitis B virus.。

AnLong Bio

Financing Round:Series A+

News on January 23, Anlong Biotech announced the completion of a multi-million A+ round of financing. Anlong Biotech was founded in 2019,Committed to leveraging breakthrough advances in molecular biology for the development of gene therapies, including the application of gene regulation, gene therapy, gene editing and other technologies.The chairman and CEO of the company isDr. Chunlin Zhao。According to the introduction on Anlong Biotech's official website, the company is developing AAV gene drugs and oligonucleotide drugs, with the oligonucleotide drugs targeting disease areas including lipid-lowering, blood pressure reduction, metabolism, HBV, etc.

RainbowBio

Financing Round:Pre-A Round

On January 16, Hongxin Biotech announced the completion of a multi-million yuan Pre-A round of financing, led jointly by Zijingang Capital and Hongtao Capital, with direct investment from Shenzhen Angel Fund and Synthesis Capital.RainbowTrust BioFounded in 2021, it is a research and development company focusing on nucleic acid drug delivery and therapeutic mRNA innovative drugs.Founder isDr. Gao Feng Cha。It is reported that, in response to the R&D pain point of nucleic acid drugs being limited by liver-targeted delivery, Hongxin Biotech has developed an engineered cell-targeted delivery platform (EnC-LNPs). This platform features unique engineering and precise cell targeting capabilities while maintaining physicochemical properties and stability similar to traditional LNPs. It has achieved nearly 100% highly efficient selective delivery in both in vitro and in vivo experiments.

Xunyao Bio

Financing Round:Series A

On January 10, Xunyao Biotechnology announced the completion of a nearly 200 million yuan Series A financing round, led byLongpan InvestmentLead Investor, Original ShareholderShanghai Biopharmaceutical FundAdditional Investment. Public information shows,Xunyao Biotech 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, in collaboration with Shanghai Pharmaceuticals Holding Co., Ltd. and Shanghai BioPharmaceutical Fund, focusing on antibody drugs.Nucleic Acid Drugsand cell therapy fields, developmentInnovative Drugs in Hemostasis, Coagulation, and Fibrosis。

We look forward to nucleic acid drugs better exerting their therapeutic potential with the support of capital. We also expect these biopharmaceutical companies to accelerate the R&D progress and bring new treatment options to the vast number of patients as soon as possible, continuously.Let the Light of Science Illuminate a Healthy Future。

References:
[1] Public information and official press releases from various companies