Weekly Report on China's Health Industry Investment and Financing (20240701)

【RNA Drugs】RecoRNA was founded in December 2021 as an innovative drug research and development company that utilizes targeted RNA editing technology to develop treatments for diseases that pose significant threats to human health and currently lack effective conventional therapies. The company is dedicated to addressing unmet clinical needs in genetic disorders, neurological diseases, and other disease areas caused by gene mutations. Backed by the laboratory of Professor Rui Zhang from Sun Yat-sen University's School of Life Sciences for technology transfer, RecoRNA has established its proprietary RNA editing platform, which can repair and optimize protein sequences and functions without permanently altering the genome. This provides new opportunities to address many challenges faced in gene therapy and previously incurable diseases. The company is currently located at the BeiGene Innovation Center on Guangzhou Bio Island and has built an early-stage R&D platform, including laboratories for drug discovery, biological validation, and delivery system development. Additionally, it has set up a U.S.-based R&D center and recruited senior R&D personnel to conduct operations in the United States. Currently, the company is leveraging its RNA editing platform to develop drugs in fields such as rare genetic diseases and metabolic disorders.

【Investor】Beijing Life Science Park Ventures, TianTu Capital, Yaji Investment Development, BeiGene BioIsland Innovation Center, XiaoChi Capital

【DNA Synthesis】Shanghai Enziyou Technology Co., Ltd. was founded on September 22, 2022, as a technology company specializing in the research and development of DNA synthesizers. The company is mainly engaged in the research and development of enzymatic long-fragment DNA synthesis technology and enzymatic DNA fragment splicing technology, integrating these technologies into high-throughput enzymatic DNA synthesizers to significantly reduce the cost of DNA synthesis, thereby enabling efficient large-scale gene synthesis. Meanwhile, Enziyou Technology also incorporates gene/protein design technology to provide large-scale gene design and synthesis services for the biotechnology industry.

【Investor】Linear Capital, Darnell Capital, MiraclePlus

【ADC】Phrontline Biopharma was founded in early 2022, firmly committed to pioneering innovative ADC drugs. Its proprietary technology platform covers the four core technologies of ADC drugs (payload, linker, conjugation method, antibody), rapidly establishing advanced antibody discovery and bispecific antibody preparation platforms, a Linker-Payload design and synthesis platform, and a site-specific and stoichiometric conjugation technology platform.

【Investor】Decheng Capital

【Monoclonal Antibody】Synermore Biopharmaceuticals (Suzhou) Co., Ltd. was established in August 2016 through the merger and relocation of Synermore Biotechnology (Beijing) Co., Ltd., originally a process R&D center, and Shenzhen Longrui Pharmaceutical Co., Ltd., originally a pilot production base. The company is located in the beautiful Phase II BioBay Park of Suzhou Industrial Park and serves as the China headquarters. Synermore focuses on the R&D and production of innovative monoclonal antibody drugs and biosimilars for the treatment of malignant tumors, allergic diseases, infectious diseases, autoimmune diseases, and more. It has built a 200-liter pilot production line and a 2,000-liter commercial production line, strictly adhering to cGMP standards in the U.S., China, and Europe to support upcoming Phase III clinical trials and subsequent commercial production. In June 2018, it was recognized as a "Suzhou Industrial Park Unicorn Cultivation Enterprise." The founder, Dr. Eric I Tsao, has over 25 years of experience in biopharmaceutical R&D and manufacturing, having worked at several well-known overseas biopharmaceutical companies and led multiple biotherapeutic projects across various stages and therapeutic areas. Synermore actively pursues dual filings in China and abroad as well as international multicenter clinical studies. To date, Synermore has obtained clinical trial approvals for three products in China, where clinical studies are ongoing, while six products are undergoing Phase I and II clinical trials in the U.S. and Australia. Additionally, six other products are in process development, among which the anti-rabies monoclonal antibody holds the potential to become the world’s first approved combination antibody therapy against rabies virus, effectively addressing an unmet global market need.

【Investor】Undisclosed

【New Flu Drug】Anticura Biotech is an innovative pharmaceutical company focused on developing groundbreaking therapeutic drugs in the fields of respiratory infections and pain management. Anticura Biotech’s core pipeline, the "one-pill cure" influenza drug Madenoxavir, has achieved significant clinical progress. Specifically, the multi-center, randomized, double-blind, placebo-controlled Phase II/III clinical trial evaluating the safety and efficacy of Madenoxavir tablets for uncomplicated acute influenza in adolescents and adults has reached its primary endpoint. The median time to alleviation of all flu symptoms improved by 26.543% compared to the placebo group, with a statistically highly significant difference (P<0.0001). Its efficacy in treating Influenza B surpasses that of Baloxavir Marboxil (Xofluza), demonstrating excellent safety and effectiveness. The company's scientific research team, led by several academicians, has gathered a group of high-level talents who are academically specialized and highly pragmatic. They have established a high technical barrier across various stages of new drug creation, including innovative drug design and synthesis, DMPK technology research and application, and the development of advanced formulations suitable for special populations. This has resulted in a small-molecule innovative therapeutic drug R&D system based on metabolic differentiation. In addition to the anti-influenza drug Madenoxavir, the company’s product pipeline also includes multiple innovative drugs targeting respiratory pathogens, such as ADC789 Suspension for Respiratory Syncytial Virus (RSV) and ADC101 Suspension, a novel super-antibiotic against mycoplasma. It also features promising drugs expected to fill domestic gaps in China, such as innovative therapies for endometriosis and uterine fibroids.

【Investor】Joaquin Investment, Joaquin Avenue, Simcere Pharmaceutical, Jiaxing Xinchuang Venture Capital, Jiarui Future Star, GSR United Capital Runpu Fund, Shun Jie Health, TCL Ventures, Wenzhou Investment

【Thyroid Eye Disease】ProLog Pharmaceutics was established in B Village in 2019. The company is dedicated to developing innovative drugs for ophthalmic and autoimmune diseases with unmet clinical needs. Its core founding team consists of returned overseas pharmaceutical professionals with over a decade of experience in globally renowned pharmaceutical companies such as Allergan, Pfizer, and Johnson & Johnson. The team’s expertise spans the entire drug development process and has successfully developed multiple biologics and small molecule drugs. Currently, ProLog Pharmaceutics focuses on the development of novel drugs for immune-related eye diseases, strategically building an ophthalmology pipeline covering conditions from the ocular surface to the fundus and orbital diseases. In a short period, the company has advanced several self-developed molecules into CMC and preclinical research stages, with plans to file IND applications soon. PHP1003, the company's first self-developed antibody targeting IGF1-R for the treatment of thyroid eye disease, received tacit approval from the National Medical Products Administration (NMPA) on June 30, 2022, allowing the initiation of clinical trials for thyroid-associated ophthalmopathy.

【Investor】Beijing SL Pharmaceutical Co., Ltd.

【Fat Body Drug Delivery】Vcare Bio was founded in July 2021 as an innovative platform technology company focused on solving "drug delivery" challenges. The company has independently developed the world's first "Adiposome-based Drug Delivery System" (ADDS). Adiposomes mimic naturally occurring lipoprotein particles and lipid droplet organelles in the human body and are produced using advanced nanotechnology. They can be widely applied to small-molecule innovative drugs, as well as large-molecule innovative drugs such as antibodies, peptides, and nucleic acids, and areas like cancer vaccines. Additionally, by encapsulating fat-soluble nutrients or herbal extracts, the system extends its application to broader health product fields, including nutritional supplements, beauty skincare products, and more.

【Investor】Undisclosed

【Ophthalmology OCT】Tupai Medical was founded in 2017, with its core technology originating from the transformation of scientific and technological achievements at Tsinghua University, and incubated by the Tsinghua Industrial Research Institute. The core technical team of Tupai Medical consists of dozens of teachers and students from various specialties such as electronics, biomedical engineering, and precision instruments at Tsinghua University. Relying on Tsinghua's technical platform, they have developed a series of globally leading high-end medical devices. The company currently has a staff of over 300, including more than 100 in the research and development team, with an annual R&D investment of nearly 100 million RMB. Tupai Medical has R&D centers in Beijing and Shanghai, as well as manufacturing bases in Beijing, Suzhou, and Tianjin. Tupai Medical’s product lines cover ophthalmic OCT, surgical microscopes, ultra-wide-field fundus cameras, optical biometers, etc., with products sold to dozens of countries worldwide. Additionally, they are developing product lines for ophthalmic femtosecond lasers and phacoemulsification vitrectomy.

【Investor】Matrix Partners, GaoTJ Investment

【Molecular Diagnostics】Shenzhen YSK Biotechnology Co., Ltd. was founded in 2015 as a high-tech biotechnology enterprise co-founded by scientists and entrepreneurs from both China and the United States. Specializing in in vitro molecular diagnostics, it integrates the research and development, production, marketing, and service of its products, establishing a complete industrial chain in the field of molecular diagnostics. The company has filed 35 invention and utility model patents, with 19 already authorized. Its main businesses cover three major areas: in vitro diagnostic reagents, medical testing analyzers, and medical testing services. The company’s in vitro diagnostic reagent products are based on three major technology platforms: genetic testing, immunoassays, and cytology, covering fields such as early cancer screening, personalized cancer diagnosis, cardiovascular diseases, and metabolic disorders.

【Investor】Undisclosed

【AI + New Drug Development】BioMap is China's first biocomputing engine-driven life sciences company, positioned as an innovative drug R&D platform enterprise. Founded by Baidu founder Robin Li, BioMap is committed to combining advanced AI technology with cutting-edge biotechnology to build unique capabilities in target discovery and drug design. It develops innovative drugs and diagnostic products to benefit human health. BioMap primarily leverages advanced computing and biotechnology to efficiently extract knowledge from multi-omics biological data, high-throughput validation experiments, and drug development experience. By mapping disease targets and drug design, it transforms drug discovery from "finding a needle in a haystack" to "following a map," thereby enhancing the drug R&D efficiency of both itself and its partners. Ultimately, BioMap aims to achieve the development of Global First-in-class original drugs.

【Investor】Harbor Investment Company

【AI + New Drug Development】Jitai Pharmaceutical is an innovative biotechnology company that leverages artificial intelligence (AI) to drive the development of more effective therapeutic drugs for patients through precise targeting drug delivery and drug discovery technologies. Jitai Pharmaceutical aims to accelerate the research and development of innovative drugs more efficiently and accurately by integrating cutting-edge AI technology with traditional drug development, while also empowering the pharmaceutical ecosystem through its core technology platform to lead industry innovation. Jitai Pharmaceutical was founded and is led by Dr. Hongmin Chen, a member of the U.S. National Academy of Engineering, along with Dr. Caida Lai and Dr. Wenshou Wang, both top scientists from MIT. The core team includes drug development experts from renowned pharmaceutical companies such as Novartis, Amgen, and Regeneron, as well as young talents in artificial intelligence and computational fields.

【Investor】CICC Capital, Taiping Hong Kong Insurance Sci-Tech Innovation Fund

【Synthetic Biology】Hangzhou MicroFuture Biotechnology Co., Ltd. is a synthetic biology company that integrates high-throughput screening, AI-driven evolution, enzymatic catalysis, and the organic combination of biology and chemistry. MicroFuture Bio has achieved a full-chain layout from basic scientific research to technological innovation and industrial application, focusing on solving key scientific and technical challenges in the production of chiral chemicals. With intelligent enzyme evolution and high-throughput strain screening as its technological engines, and "Compendium of Materia Medica"-style precise analysis and intelligent prediction as its technological approach, the company has built China's leading enzyme library design and construction platform and cell factory modification platform through the scientific planning, simulation, and rational design of hundreds of millions of natural and artificial enzyme components. This enables a dual-driven development of chiral compounds and functional ingredients, providing raw materials and technological solutions for enterprises in pharmaceuticals, cosmetics, food, and other fields.

【Investor】Undisclosed

【Medical Beauty Equipment】The photomedicine beauty market, due to its unique combination of medical and consumer attributes, has attracted a wide consumer base and has become the preferred choice for many beauty seekers trying medical aesthetics for the first time. The founding team of Baifu Laser has been deeply engaged in the photomedicine aesthetics track for over a decade, with a profound understanding of the high market demand but low equipment supply and low localization rate within the industry. Therefore, the company is committed to independent innovation and mastering core R&D technologies, which is an important step for Baifu Laser to promote domestically produced equipment into the global market. The company currently offers a series of products including 1064nm and 532nm picosecond lasers, NDYAG Q-switched lasers, 755nm alexandrite long-pulse lasers, 2940nm erbium lasers, and 1927nm thulium lasers. The performance and technical specifications of these products have reached a leading level in China.

【Investor】Daxing Linan Development Fund

【Dental Ceramic Materials】Aidite is a zirconia dental ceramics manufacturer that integrates research, development, and production. As a global high-tech enterprise, it consolidates upstream and downstream sectors of the dental industry chain. Since its establishment, Aidite has consistently focused on new dental materials, developing related consumables, intelligent equipment, and new technologies while enriching services and training programs. It is committed to transforming traditional dentistry and truly achieving the digitalization and intelligent development of the international dental industry. Currently, Aidite leads globally in the research and development of zirconia and glass-ceramic materials. The company has offices in five cities—Beijing, Shanghai, Xi'an, Chengdu, and Shenzhen—and operates overseas subsidiaries in the United States and Germany for localized operations, providing services to over 120 countries and regions worldwide.

【Investor】Undisclosed

【Spectral Analysis】VibraTek is a high-tech enterprise centered on molecular vibrational spectroscopy technology innovation, committed to developing high-end Chinese-produced spectral analysis and imaging products and precision medical diagnostic platforms. Established in 2017, VibraTek includes subsidiaries such as ZhenDian (Suzhou) Medical Technology Co., Ltd. and Weipeng (Suzhou) Medical Device Co., Ltd. The company has been awarded the National High-Tech Enterprise qualification, the Suzhou Industrial Park Science and Technology Leading Talent title, and the second prize in the China Medical Device Innovation and Entrepreneurship Competition. The core team has years of R&D experience in spectroscopy, optical imaging, and photoelectric analysis, possessing globally leading independent and controllable technical capabilities. It holds over 10 independently developed core patents and 16 exclusive authorized patents from world-renowned research institutions. The company currently has more than 1,000 square meters of R&D and production facilities, with a sound design development system and quality control system, and has obtained certifications for the medical device quality management system and GMP compliance.

【Investor】Daoyuan Capital, Founder Hesheng Investment, FreesFund Peak Capital