Triple Funding Success in One Day: Lixsin, Ruoyi, and Pingfanghe Announce Financing; Baiyu Pharma Strikes Major Out-Licensing Deal with Novartis; ABA Chemicals Inaugurates New R&D Building

Oct 20, 2024 11:33 CST Updated 11:33

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Gene Engineering Pharmaceutical and Growth Hormone Producer

"Innovation is Gold, Reach New Heights" – GenSci's 2024 First Research and Development Day Successfully Concludes

Thursday, October 17, 2024GenSci 2024 R&D DayThe event was successfully held at the Ritz-Carlton Hotel in Pudong, Shanghai! This marks the first-ever R&D Day for GenSci, a company with a 27-year history, and represents a milestone of great significance.

Friday, October 18, 2024, with the theme of "Promoting Innovation and Cooperation, Accelerating Industrial Integration"SAPA-China 2024 Pharmaceutical Industry ConferenceGrandly opened in beautiful Suzhou, lasting for two days with ten thousand attendees.

Sincerely Thank YouDr. Li Yan, Executive Director of the US-China Anti-Cancer Association and Guest Professor at Yonsei University, South Korea's warm invitation,Dr. Guo Jinsong, Founder of PharmaTimesI was fortunate to attend Professor Yan'sDr. Wang Ying, Vice President of InnoCare PharmaCo-hosted Forum on "Innovative Drug Clinical Development Strategies and Internationalization," Listening to Several Experts' Excellent Speeches, IncludingDirector Chunxia Su, Clinical Research Center, Shanghai Pulmonary HospitalThe latest trends in the IIT of the pulmonary field, which everyone is concerned about, were introduced in detail, full of value, and received warm applause on the spot. During the roundtable discussion session, Dr. Guo quickly shared "Precision BD" and "LIDLO"Model".

Best WishesDr. Luo WenD索元生物 is pressing ahead with its success, aiming to go global soon and reap substantial returns, enough to buy a building right away~~ This will become a very typical case of the "LIDLO (立得楼)" model.

During the event, Dr. Guo met with new and old friends/partners from both China and the U.S., discussing more cooperation opportunities face-to-face, which was highly fruitful!

As the industry radar, PharmaTimesTrack industry hotspots at any time. On October 18, we observed that at least three companies related to new drug research and development officially announced good news of successful financing.

Lixin Pharmaceutical Completes 300 Million Yuan C1 Financing Round to Advance Clinical Progress and Innovative Platform Development

October 18, 2024Lixin Pharmaceutical Technology (Shanghai) Co., Ltd.Announced recentlySuccessfully completedCNY 300 Million in Series C1 FinancingThis round of financing was led by China Biologic Products, a well-known domestic industry player, with participation from Pudong Venture Capital and Zhangjiang Haoheng. Existing shareholders Qiming Venture Partners and Shanghai BioPharm Fund also followed up on the investment, while Zhong Lun served as the legal advisor for this round of financing.

Dr. Ying Qin, Founder, Chairman, and Chief Executive Officer of Lixin Pharmaceutical Technology (Shanghai) Co., Ltd.Said: "Since its establishment, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. has adhered to original innovation at the source, focusing on the tumor microenvironment and dedicating itself to the development of tumor-specific targeted ADCs and immune-modulating large molecule innovative drugs. We have built a comprehensive pipeline of differentiated innovative drugs with independent intellectual property rights and global competitiveness, covering all stages from preclinical to Phase III clinical trials. We are delighted to have successfully completed the C1 round of financing, and we especially thank both new and existing investors for their continued recognition and support during this challenging period for pharmaceutical investments. We will live up to expectations by accelerating the two late-stage clinical pipelines, LM-302 and LM-108, striving to bring products to market as soon as possible. Meanwhile, we will continue to generate early-stage original innovation pipelines that address unmet therapeutic needs in the fields of tumor immunity and the tumor microenvironment. We will also actively explore diverse and close collaborations with various partners and sectors, further enhancing the company’s self-sustaining capabilities through business development (BD) partnerships. Together, we aim to promote Chinese innovative drugs globally, providing more patients with high-quality treatment options and contributing to healthier lives."

Ruo Yi Bio Completes Pre-A+ Round of Tens of Millions of RMB Financing, Driving Innovation and R&D of "All-Natural" Recombinant Botulinum Toxin Protein Drugs

Recently,Suzhou Ruozhi Biotechnology Co., Ltd.Completed a Pre-A+ round of financing worth tens of millions of RMB, invested by the Kunshan Angel Fund. The proceeds from this round of financing will mainly be used for the technology transfer of pilot to commercial production processes for the third-generation botulinum toxin drug pipeline (Sf9 cells, natural amino acid sequence). In addition, Kunshan will also provide Ruozhi Bio with nearly 10,000 square meters of commercial production workshops, corresponding supporting policies, and an industrial environment empowered through collaboration with the Shanghai Medical Cosmetology Industry Innovation Research Institute.

Ruo Yi Biotechnology is located in the Zhangjiang High-Tech Park in Pudong New Area, Shanghai. It is a biotechnology startup incubated by the ShanghaiTech University. Ruo Yi Biotechnology focuses on the research and application of "0 to 1" original biotechnologies, with multiple platforms being unique or leading globally. The current core technology is the zinc-finger protein drug delivery technology platform; the core pipeline of drugs under development includes recombinant botulinum toxin protein drugs (including various types, engineered products, and drug-device combination products) and intracellular antibodies (including products targeting cancer and infectious diseases). Additionally, the company has established an industrial-grade insect cell-baculovirus production process platform with independent intellectual property rights (it is the third company worldwide to own this platform, suitable for the production of complex proteins, vaccines, VLPs, AAV viral vectors, and more).

Sigma Squares Completes Hundreds of Millions of Yuan in Series B Financing

Recently,Sigma Squares Officially Completes Series B Financing。This round of financing was led by TC Capital, with participation from Yuanhe Puhua, Yahu Investment, Yunhui Capital, Xiangcheng Jinkong Capital, Entropy One Capital, and Boxin Capital, totaling several hundred million RMB. With the support of the capital market, Sigma Squares will continue to strengthen its efforts in technology research and development, product iteration, and market expansion, further consolidating its leading position in the industry.

October 16, 2024Chengdu Baiyu Pharmaceuticals Co., Ltd. Signs Exclusive Licensing Agreement with Novartis for a Small Molecule Anticancer DrugAccording to the agreement, Chengdu Baiyu Pharmaceuticals Co., Ltd. will receive an upfront payment of 70 million US dollars, as well as milestone payments for development, registration, and commercialization that could reach up to 1.1 billion US dollars, along with corresponding royalties. Novartis will obtain global exclusive rights for the development and commercialization of this small molecule innovative drug. Chengdu Baiyu Pharmaceuticals stated that this strategic cooperation is an important step in providing potentially effective anti-tumor drugs to patients worldwide, and they look forward to achieving positive outcomes.

Chengdu Baiyu Pharmaceuticals Co., Ltd. was established in 2005, with its headquarters located in Chengdu, Sichuan. It is a pharmaceutical enterprise focused on innovative drug research and development, integrating research, production, and sales. The company owns a national-level corporate technology center, the Sichuan Provincial Terpenoid Compound Extraction and Separation Technology Engineering Research Center, and the Chengdu Ginkgo Drug Formulation Engineering Technology Research Center. It also has an academician (expert) workstation and a postdoctoral research workstation.

Novartis, as a globally renowned pharmaceutical company, will further strengthen its presence in the field of anti-tumor drugs through this collaboration. The small molecule innovative drug R&D team of Chengdu Baiyu Pharmaceuticals Co., Ltd. has deep expertise in the areas of oncology and autoimmune diseases. Its pipeline includes several new drugs with rapid progress, such as BY1298 in the DNA damage domain and BY1921, an immuno-oncology therapy targeting PARP7.

This collaboration not only brings considerable financial support to Chengdu Baiyu Pharmaceuticals Co., Ltd. but also lays the foundation for the global promotion of its R&D achievements. Both parties expressed their anticipation that this cooperation would accelerate the development and market launch of new drugs, offering more treatment options to patients worldwide.

ABA CHEM New R&D Building Inauguration Ceremony Successfully Held

October 18, 2024, in the afternoon,ABA CHEM's New R&D Building Inauguration Ceremony Grandly Held in Shanghai Zhangjiang Pharm ValleyMs. Xu Minxu, Deputy Director of the Science and Economy Commission of Pudong New Area, Shanghai, leaders and colleagues from partner companies such as Corteva, FMC, Bayer, BASF, Roche, Novartis, as well as Mr. Cai Tong, Chairman and General Manager of ABA CHEM, Ms. Wang Zhuoying, Director and Executive Vice General Manager, Mr. Ma Lifan, Director and Deputy General Manager, Dr. Lin Zhigang, Vice General Manager, Dr. Xu Jun, Technical Director, Mr. Mao Haifeng, Head of the Group Supply Chain Center, along with more than 60 other key company leaders and employee representatives attended the ceremony.

Due to limited space, let's report these good news for now.

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References:

Lixin Pharmaceutical Completes C1 Round Financing of 300 Million Yuan to Advance Clinical Progress and Innovative Platform Construction
YS Venture Capital Family | Ruozhi Biotech Completes Pre-A+ Round of Tens of Millions of RMB Financing, Driving Innovation and Development of "All-Natural" Recombinant Botulinum Toxin Protein Drugs
News of Boyuan's Invested Companies | Sigma Squares Completes Series B Financing Round Worth Hundreds of Millions
$1.17 Billion: Chengdu Baiyu Pharmaceuticals Co., Ltd. Licenses Small Molecule Anticancer Drug to Novartis
ABA CHEM New R&D Building Inauguration Ceremony Successfully Held
Official Websites of Various Companies
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Other Public Information

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Triple Funding Success in One Day: Lixsin, Ruoyi, and Pingfanghe Announce Financing; Baiyu Pharma Strikes Major Out-Licensing Deal with Novartis; ABA Chemicals Inaugurates New R&D Building

Sigma Squares

GenSci

As the industry radar, PharmaTimesTrack industry hotspots at any time. On October 18, we observed that at least three companies related to new drug research and development officially announced good news of successful financing.

Lixin Pharmaceutical Completes 300 Million Yuan C1 Financing Round to Advance Clinical Progress and Innovative Platform Development

Ruo Yi Bio Completes Pre-A+ Round of Tens of Millions of RMB Financing, Driving Innovation and R&D of "All-Natural" Recombinant Botulinum Toxin Protein Drugs

Sigma Squares Completes Hundreds of Millions of Yuan in Series B Financing

Lixin Pharmaceutical Completes C1 Round Financing of 300 Million Yuan to Advance Clinical Progress and Innovative Platform Construction

YS Venture Capital Family | Ruozhi Biotech Completes Pre-A+ Round of Tens of Millions of RMB Financing, Driving Innovation and Development of "All-Natural" Recombinant Botulinum Toxin Protein Drugs

News of Boyuan's Invested Companies | Sigma Squares Completes Series B Financing Round Worth Hundreds of Millions

$1.17 Billion: Chengdu Baiyu Pharmaceuticals Co., Ltd. Licenses Small Molecule Anticancer Drug to Novartis

ABA CHEM New R&D Building Inauguration Ceremony Successfully Held