▎WuXi AppTec Content Team Report

According to the Immediate Drug Database, the financing activity in China's innovative drug sector significantly increased in November 2024 compared to the previous months. As of November 28, at least 20 Chinese companies dedicated to innovative drug research and development announced the completion of a new round of financing this month.Among them, 11 companies raised more than 100 million yuan.。By combing through this11 Emerging Companies with Financing Amounts Exceeding 100 Million Yuan, we foundThe followingFeatures:

• These companies are committed to developingAntibody therapy, antibody-drug conjugates, cell and gene therapy (CGT), protein degradation therapy, radiopharmaceuticals, "synthetic lethality" mechanism small molecule drugsetc., covering disease areas such as oncology, autoimmune diseases, diabetes, neurological disorders, and genetic diseases.

• In terms of financing rounds,More than half (6 companies) have completed early-stage financing (before Series B, excluding Series B).。

• The institutions participating in the investment not only include well-known investment firms such as OrbiMed and Legend Capital, but also industrial companies or funds established by pharmaceutical companies, such asBeta Pharma, CSPC Fund, Beta Fund, etc.。

According to the press release, this round of financing will help accelerate Allink Biotherapeutics' global layout, including advancing itsCore Pipeline ALK201 (FGFR2b ADC)And ALK202 in Phase 1 clinical studies in Australia, the United States, and China, while actively expanding the R&D pipeline in the fields of oncology and immunology, continuously optimizing its self-developed bispecific antibody and ADC technology platforms, to build a biotechnology company with global influence.

BRL Medicine

Financing Round: B+ Round

Financing and Finance:200 million yuan

BRL Medicine focuses on the research and development of innovative drugs in the field of gene and cell therapy.The company currently has four projects that have been approved for IND, officially entering the registration clinical trial stage, includingGene therapy product BRL-101 for transfusion-dependent β-thalassemia;CD19-Targeted Non-Viral Site-Specific PD1-CAR-T Cell Product BRL-201;Treatment of Systemic Lupus ErythematosusTheNon-viral targeted integration PD1-CAR-T productBRL-203；UCAR-T Product for B-cell MalignanciesBRL-301。In addition, itsSeveral projects have entered the IND application stage.

Baimingxin Health

Financing Round: Undisclosed

Financing Amount: Hundreds of Millions of Yuan

On November 20, Biomayson announced the completion of a new round of financing worth hundreds of millions of yuan. This round of financingJointly invested by several well-known institutions and industry investors, including PICC Capital Equity, ClearPine Capital, and a certain renowned industrial investment institution.. BrightGene BioMedical was founded in 2018,Committed to the research and development of a new generation of specific immunotherapies for allergic and autoimmune diseases。

According to the official website of Allink Biotherapeutics, the company is developing various immunotherapies based on two major technology platforms. The PCFiT (recombinant peptide carrier fusion protein) technology is used to treat allergic rhinitis, allergic conjunctivitis, and allergic asthma; the Apitopes (inducible tolerogenic peptides) technology is used to treat multiple sclerosis, Graves' disease, uveitis, hemophilia factor VIII inhibitors, as well as other autoimmune diseases such as myocarditis and rheumatoid arthritis.

Lead Therapeutics

Financing Round:Series A

Financing Amount: Over100 million yuan

On November 18, LederBio announced the completion of an over 100-million-yuan Series A financing round. This round of financingLed by Beijing Longpan Venture Capital, with Tianrui Fenyuan Investment following, and existing shareholder Zhang Ke Lingyi Venture Capital continuing to increase investment.According to the press release, the funds raised this time will be mainly used to accelerate Allink Biotherapeutics.First Pipeline IRAK4 DegraderPhase 1 and subsequent clinical studies of LT-002, preclinical development of other autoimmune and oncology pipelines, etc.

Lead Therapeutics was founded in 2019,The company mainly focuses on developing small-molecule innovative drugs centered around the Targeted Protein Degradation (TPD) drug technology, concentrating on disease areas such as autoimmune disorders and cancer.. The company'sIRAK4 DegraderLT-002 (a PROTAC, or proteolysis-targeting chimera) has initiated its first-in-human trial in June this year. The product is under development for indications including psoriasis, atopic dermatitis, rare autoimmune diseases, as well as hematological malignancies such as diffuse large B-cell lymphoma and AML/MDS. In addition to the IRAK4 degrader, Allink Biotherapeutics' pipeline also encompasses...JAK-STAT pathway, KRAS and other difficult-to-drug targets for the treatment of autoimmune diseases, as well as solid tumors such as lung cancer, pancreatic cancer, and colorectal cancer.。

Tongrui Bio

Financing Round: A+ Round

Financing Amount: Over 100 Million USD

On November 16, Tongrui Biologics announced the completion of an over $100 million Series A+ financing round. Tongrui Biologics, established in 2021 and incubated by the renowned investment institution Tonghe Yucheng, specializes in the field of radiopharmaceuticals. According to the company’s press release, the main purpose of this financing round is to further enhance its core technology platforms, such as targeted precursor discovery, upgrade high-throughput screening capabilities for innovative RDC drugs, and accelerate multiple international innovative R&D pipelines, especially...α NuclideReleaseRadioactiveRadionuclide Conjugated Drugs（RDC）MedicineThe clinical development process aims to bring more effective treatment options to patients worldwide.

Impac Pharma:

Financing Round: D++ Round

Financing Amount: 250 Million Yuan

On November 15, Impella Pharma announced the completion of a 250 million yuan D++ round of financing. This round of financing was jointly invested by a globally renowned industrial investment institution and a well-known insurance fund. Impella PharmaDedicated to the research and development of targeted anti-cancer innovative drugs, focusing on ""Synthetic Lethality"Mechanism of ActionBased on its self-developed products targeting the DNA damage repair pathway (DDR), the company has built a comprehensive DDR product pipeline and is gradually expanding to more novel synthetic lethal targets.

The R&D pipeline of IMPACT Therapeutics includesPARP inhibitors, Wee1 inhibitors, ATR inhibitors, PARP1 selective inhibitorsAnd multiple other DDR target inhibitors. Among them, the New Drug Application (NDA) for the PARP inhibitor Senaparib has been accepted by the NMPA in China.According to the press release, this round of financing will support IMPACT Therapeutics.Commercialization of the Core Product Senaparib, andGlobal clinical development of multiple compounds, while accelerating the R&D of multiple early-stage projects.

Laymon Bio

Financing Round: Series A First Close

Financing Amount: Over 100 Million Yuan

On November 12, Leman Bio announced the completion of the first closing of its Series A financing round, which exceeded 100 million yuan. This round of financing was led by Fuhui Venture Capital, with participation from Junyi Investment and XtalPi Technology, among others. Leman Bio focuses on the research and development of innovative drugs for cancer immunotherapy. Addressing the long-standing issue of T-cell exhaustion, a key factor limiting the efficacy of cancer immunotherapy, the company has developed an innovative IL-10-mediated immune metabolic reprogramming technology (Meta 10).Preclinical studies show that the Meta 10 metabolic reprogramming technology platform can effectively overcome T-cell exhaustion and induce the formation of stem-like memory immune cells.。

The fastest progressing product of Allink Biotherapeutics is the metabolically enhanced CD19 CAR-T therapy (Meta10-19 Injection). In the investigator-initiated clinical trial (IIT),This therapy achieved complete clearance of tumor cells with an extremely low dosing level (as low as 1% of the dose used in traditional CAR-T therapy).According to the press release, the funds from this round will be mainly used for the IND application of ultra-low dose metabolism-enhanced CAR-T cell drugs, the development of automated production processes, and the acceleration of clinical translation of metabolism-enhanced solid tumor cell therapy drugs.

Kanglin Bio

Financing Round: Series A

Financing Amount: 150 Million Yuan

On November 8, Kanglin Biotech announced the completion of its Series A financing round worth 150 million yuan, with this round of financing led byZhejiang Province "4+1" Biopharmaceuticals and High-End Medical Devices Industry Fund, Old ShareholdersZhejiang Miyin Investment Management Co., Ltd.Co-investment. Kanglin Bio was founded in 2015, focusing on the research and development and commercialization of innovative gene therapy drugs, targeting diseases includingThalassemia, AIDS, Hemophilia, and Parkinson's Diseaseetc.

Core Products of Kanglin BioKL003 Cell Injection isAGene-modified autologous hematopoietic stem cell product, under development for the treatment of transfusion-dependent β-thalassemia in adults or children.The product aims to restore the normal physiological function of hemoglobin in the human body, thereby improving anemia and ultimately eliminating the need for blood transfusions. It holds the promise of achieving the goal of "one-time dosing, lifelong cure." Currently, this product has completed the enrollment of all patients in Phase 1 of the registration clinical trial. Additionally, it was recently granted Pediatric Rare Disease Designation (RPDD) and Orphan Drug Designation by the U.S. FDA.

Zhongsheng Traceability

Financing Round: Series B

Financing Amount: 150 Million Yuan

On November 8, Zhongsheng Suyuan announced the completion of the first close of its RMB 150 million Series B financing. This round of financing was led byGuangzhou Production InvestmentLeading investment,United Zhongyuan Investment, Guoju Venture Capital, Hefei GaotouAnd the existing shareholdersLegend CapitalInstitutional investment.Zhongsheng溯源 was founded in 2016, focusing on iPSC basic research and clinical transformation.Centering on the core technology of iPSC, the companyAnti-inflammatory Repair, Tumor Immunology and Regenerative MedicineMultiple cell drug pipelines have been laid out in three major medical directions.

Zhongsheng TraceabilityTwo products have received the implied permission for clinical trials from the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) and have entered Phase 1/2 registration clinical trials, includingNCR100 Injection, an iPSC-derived Mesenchymal-like Cell (iMSC) Product, intended to develop treatment for knee osteoarthritis;NCR300 Injection, an iPSC-derived Natural Killer Cell (iNK) Product, is being developed for the treatment of myelodysplastic syndromes and the prevention of relapse after allogeneic hematopoietic stem cell transplantation for acute myeloid leukemia. The company also has several otheriPSC-Derived Cell Therapies for Clinical Needs such as Parkinson's Disease and DiabetesWill also successively apply for IND to enter the registered clinical trial stage.

Rip Morning Creation

Financing Round: Series A

Financing Amount: Over 100 Million Yuan

November 1, Ruipu ChenchuangAnnouncementCompleted over 100 million yuan in Series A financing. This round of financingLed by Chinese venture capital, with Beida Pharma, Legend Capital, Hotang Venture Capital, and Beicheng Venture Capital following suit.。Betta Pharmaceuticals also announced the completion of the signing of the "Strategic Cooperation Agreement" with Ruipu Chenzhao.Both parties will cooperate to develop stem cell therapy business and carry out in-depth cooperation in the field of human pluripotent stem cell induction differentiation technology for islet cells.Betta Pharmaceuticals' press release stated that this means its official entry into the new field of stem cells and cell therapy.

Ripply Innovation byLed by Dr. Ding Lieming and Professor Deng Hongkui, committed to expanding the application of cell therapy in various major and difficult disease fields.The companyCell therapy drugs based on innovative human pluripotent stem cell technology have been used in treatmentDiabetesDirection planning multiple pipelines, its independently developedPluripotent Stem Cell Product for Treating Type 1 DiabetesRGB5088 Islet Cell InjectionThe clinical trial application (IND) has also been accepted by China's NMPA.

Ningdan New Medicine

Financing Round: Series C

Financing Amount:Hundreds of millions of yuan

November 1, Niningan New DrugAnnouncementCompleted a C-round financing of several hundred million RMB, this round of financingCompleted by Nanjing Jiangning High-tech Zone Sci-Tech Innovation Investment and Huaxing Kangping。Ningdan New Drug is an innovative company focusing on the research and development and industrialization of new drugs in the field of central nervous system (CNS) diseases.This is the second time Ningdan New Medicine has announced financing within a year.

Ningdan New Drug's R&D pipeline is mainly used for treatmentStroke, Intracranial Tumors, Cognitive Impairment, Emotional Disorders, Neuropathic Pain, Cerebral Small Vessel DiseaseSuch as multiple high-incidence central-related diseases. The companyThe fastest progressing project Y-2 is the sublingual tablet of edaravone and dextrorphan developed in collaboration with Simcere Pharmaceutical. This is an innovative modified drug for stroke, and its marketing application in China has been accepted by the NMPA. The first indication is for improving neurological symptoms, activities of daily living, and functional impairments caused by AIS.

In addition to the above companies, several other innovative drug startups received new rounds of funding this month, including those dedicated to the research and development of immune macromolecular drugs.Tian Gang Medical, focusing on the development of NK cell therapyEnkai Saiyao, focusing on the development of radionuclide therapyBaimingxin Kang, focusing on the research and development of drugs for neurodegenerative diseasesBoruijian PharmaceuticalsFocusing on Gene Therapy DevelopmentRongze Group, Focusing on the R&D of monoclonal antibodiesNew SourceCompany, Focused on Anti-cancer Targeted DrugsRuida Medicine, Polypeptide Vaccine Development Company Bio-Tech, AI Protein Drug Design and Development CompanyZhiyao Genesisetc. We hope that with the support of the capital market, more cutting-edge technologies and innovative therapies can benefit patients as soon as possible.

[1] Official websites of various companies and public information