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Recently, Suzhou Baimai Biomedical Co., Ltd. ("Baimai Biomedical") and Qilu Pharmaceutical Co., Ltd. ("Qilu Pharmaceutical") officially reached a project cooperation agreement regarding Baimai Biomedical's self-developed metal embolic microspheres BM601 product for TACE treatment of liver cancer. According to the agreement terms, Baimai Biomedical will receive milestone payments totaling over 200 million RMB as well as additional sales royalties and overseas revenue sharing.Yuansheng Ventures participated in the A+ round financing of Suzhou Baimai Biomedical Co., Ltd. in August 2022.The BM601 cooperation project is a Class III medical device product independently developed by Suzhou Baimai Biomedical Co., Ltd. based on the original technology from Professor Liu Zhuang's team at Soochow University. It has independent intellectual property rights, and its unique mechanism of action can significantly enhance the therapeutic effect of transarterial chemoembolization (TACE). Early clinical studies in patients with unresectable primary liver cancer have demonstrated significant clinical advantages, offering the potential for more effective treatment options for patients with mid- to late-stage liver cancer.The strategic cooperation between Suzhou Baimai Biomedical Co., Ltd. and Qilu Pharmaceutical will achieve efficient complementarity between R&D capabilities and commercial resources, creating a new model for the transformation of scientific research achievements: "original scientific research from universities -> Biotech achievement transformation and clinical validation -> large pharmaceutical enterprises completing technological industrialization and commercialization."As the second official License-out business cooperation reached by Suzhou Baimai Biomedical Co., Ltd., this collaboration with Qilu Pharmaceutical also demonstrates that Baimai Biomedical's differentiated innovation has been recognized by leading companies in the industry. We look forward to Baimai Biomedical taking this cooperation as an opportunity to work with Qilu Pharmaceutical to advance the clinical progress of the product, and jointly transform this scientific achievement into a revolutionary treatment strategy to benefit more liver cancer patients.About Suzhou Baimai Biomedical Co., Ltd.
Suzhou Baimai Biomedical Co., Ltd. was established in 2019. The company focuses on cutting-edge research in the interdisciplinary field of biomaterials, promoting the clinical application of original research results to meet specific clinical needs. Particularly, it has made breakthroughs in tumor microenvironment modulation technology based on biomaterials, exploring differentiated and innovative cancer treatment solutions.
Yuansheng Venture CapitalIt is an investment institution focused on the early and growth-stage healthcare sector, based in Suzhou bioBAY with a global reach. To date, it has invested in over 200 outstanding companies in the life sciences and healthcare field, covering four major areas: novel drug discovery, medical devices, in vitro diagnostics and precision medicine, as well as future healthcare technologies. It has achieved substantial investment returns, with 20 companies already listed on capital markets such as the Hong Kong Stock Exchange and the STAR Market. OrbiMed China has been repeatedly ranked among the top 10 venture capital funds in China's healthcare sector and recognized as one of the most active healthcare investment institutions in China. With a team of seasoned professional investors and a world-class scientific advisory board, OrbiMed China possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry. Leveraging its expertise, focus, and abundant industry resources, we are committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.
