Recorna Bio Completes Initial Close of Tens of Millions RMB in Angel+ Financing to Advance RNA Editing Therapeutics

VCBeat learned that in June 2024, RECORNA (Guangzhou) Biotechnology Co., Ltd. ("RECORNA"), a research and development company that develops innovative drugs through targeted RNA technology, hasCompleted the first close of an angel+ round of financing worth tens of millions of yuan.This round of financing was jointly led by LSV CAPITAL, TIANTU CAPITAL, and Yiyi Capital, with follow-on investments from BeiGene BioIsland Innovation Center (hereinafter referred to as "BeiGene Innovation Center"), continued support from Xiaochi Capital, and HAOYUE CAPITAL serving as the exclusive financial advisor.The funds will be used for the research and development of the company's core projects, clinical applications, and team expansion.

The company currentlyThe first pipeline for treating nervous system diseases, which is currently underway, has completed the preliminary molecular research and is now in the preclinical stage. It is expected to file an IND application in 2025.

RecoRNA is a nucleic acid drug research and development company that focuses on developing innovative drugs for indications without effective conventional treatments through its RNA editing technology platform. The targeted therapeutic areas include cardiovascular and cerebrovascular diseases, neurological disorders, respiratory conditions, anti-aging, and other fields with significant unmet clinical needs. Relying on the technology transfer from Professor Zhang Rui's laboratory at Sun Yat-sen University's School of Life Sciences, RecoRNA has established an independent intellectual property RNA editing platform. Located in the Bio Island Innovation Center in Guangzhou, RECORNA (Guangzhou) Biotechnology Co., Ltd. has built a comprehensive R&D platform covering drug discovery, biological validation, and delivery system development.

RecoRNA Founder and Chief Scientist Professor Zhang RuiRecoRNA stated: "The original intention of establishing RecoRNA was to carry out industrial transformation based on our scientific research and technological accumulation in the RNA editing field. The nucleic acid drug technology based on endogenous ADAR protein has excellent flexibility and safety, and can repair and optimize the sequence and function of proteins without altering the genomic sequence. In addition, RecoRNA adopts the path of small nucleotide drug development. Compared with other similar drugs, this path has the unique characteristics of reversible efficacy and adjustable dosage. Therefore, this technology has broad application prospects in treating various common diseases caused by non-genetic mutations and various indications that require functional improvement, such as cardiovascular diseases, neurodegenerative diseases, and anti-aging, while also maintaining good safety."

RecoRNA Co-Founder, Chief Executive Officer Xin Rong"We are very grateful for the recognition and support from both new and existing investors in this round. Since its establishment, RecoRNA has built a strong competitive edge in technology platforms, advanced R&D projects, and patent layout. We have established strategic partnerships with industry leaders such as BeiGene Innovation Center and Star RNA Medicine to jointly develop applications of novel nucleic acid drugs across various disease areas. In recent years, several global pharmaceutical giants have heavily invested in collaborations on nucleic acid-based therapies, underscoring RecoRNA's future global value and international potential."

Long Xiaoteng, Managing Partner of LSV CAPITAL"We continue to be optimistic about RecoRNA's scientific accumulation and efficient execution in the RNA editing field. As the lead investor, LSV CAPITAL will continue to support the company’s development. We look forward to the company achieving significant R&D milestones for its core projects after this round of financing, becoming a world-leading RNA innovative drug R&D company. As a strategic cooperation project between us and the BeiGene Innovation Center, RecoRNA reflects LSV CAPITAL’s commitment to discovering and supporting scientists and entrepreneurs who are changing the world, jointly advancing the industrialization of new quality productive forces, and promoting industrial upgrading and progress."

Wei Guoxing, Partner of TIANTU CAPITALRepresentative stated: "RecoRNA, based on Professor Zhang Rui's globally leading scientific research in the field of RNA editing, focuses on the development of new drugs using RNA editing technology for cardiovascular and neurological diseases, with the potential to address significant unmet clinical needs. TIANTU CAPITAL firmly believes that RNA editing technology has broad application prospects in various common chronic disease areas and hopes to continuously support the company in bringing its new drugs to market as soon as possible, benefiting a wide range of patients."

Chong Liu, Founding Partner of Yiyi CapitalRepresentative stated: "With the rapid development of RNA editing technology worldwide, RecoRNA's technical platform, pipeline layout, and talented team are advancing in tandem, establishing a unique barrier for the company and demonstrating exceptional competitiveness. Yiyi Capital is committed to supporting the organic integration and development of emerging technologies and the biopharmaceutical industry both domestically and internationally, and will continue to focus on investment opportunities in related fields over the long term."

Yin Jie, Founding Partner of Xiaochi CapitalExpressed: "As the investor from the previous round, Xiaochi Capital continues to increase its investment in this round. RecoRNA has made many breakthrough advancements in the RNA editing field and keeps attracting top talents in the industry to join. We look forward to RecoRNA's further prosperity. Xiaochi Capital will also continue to focus on investment opportunities for new technologies in vertical industries such as healthcare."

Dr. Jian Liu, CEO of BioIsland Innovation Center, BeiGeneRecoRNA is a representative in the field of nucleic acid new drug research and development and innovation, as well as a partner of BeiGene BioIsland Innovation Center in nucleic acid innovative therapies. We look forward to further cooperation in the future and hope that this collaboration will provide comprehensive support to RecoRNA.

HAOYUE CAPITAL"We are honored to assist RecoRNA in completing this round of financing. Over the past year, RecoRNA's core team and talent pool have demonstrated diverse capabilities within the industry, showcasing highly efficient execution. The preclinical data of their core pipeline is very competitive, with the potential to become the best-in-class nucleic acid drug. Multiple international pharmaceutical companies have successively entered this field, validating the robust vitality of nucleic acid therapeutics. We remain firmly optimistic about RecoRNA and hope that the company will continue to achieve breakthroughs in future clinical explorations."

RecoRNA is a small nucleic acid drug research and development company that develops innovative drugs through technology platforms such as RNA editing, aiming to meet unmet clinical needs including cardiovascular diseases, neurodegenerative disorders, and anti-aging. Relying on the technology transfer from Professor Zhang Rui's laboratory at the School of Life Sciences, Sun Yat-sen University, RecoRNA has established an independent intellectual property RNA editing platform capable of repairing and optimizing protein sequences and functions without permanently modifying the genome. The company, located in the BeiGene Innovation Center on Guangzhou Bio Island, has built an early-stage R&D platform, including laboratories for drug discovery, biological validation, and delivery system development.

Founded in 2002, TIANTU CAPITAL is one of the earliest professional institutions in China engaged in equity investment. It pursues in-depth research and specialization, with a professional investment research team of dozens of people. To date, its cumulative assets under management exceed 25 billion yuan, and it has invested in more than 200 companies. Among them, there are over 20 companies in the life sciences field. Investment cases include UniMed Care, Unknown Jun, ZEPTO, PayLenz Biotech, SyngenTech, LymPro Bio, Feihe China, Nayuki's Tea, Pagoda, Xiaohongshu, and Aihuishou.

Yiyi Capital was founded in 2018, with primary investment areas including artificial intelligence, life sciences, and synthetic biology. It has been deeply engaged in healthcare and life health, systematically deploying resources across multiple sub-sectors such as innovative drugs, medical devices, in vitro diagnostic testing, consumer healthcare, and AI-integrated biotechnology. Yiyi Capital is committed to serving outstanding entrepreneurial teams and delivering excellent returns to investors. By closely collaborating with entrepreneurs, it fosters high-quality new productivity and channels more long-term and patient capital into technological innovation through its expertise.

LSV CAPITAL, under the leadership of ZGC Development Group's Lead Innovation Investment and ZGC Capital, is a specialized fund focused on technology innovation investment and financing services. With Beijing's Science and Technology Innovation Center and Zhongguancun Life Science Park as its primary incubation bases, it radiates across China. LSV CAPITAL’s vision is to "discover scientists and entrepreneurs who change the world and jointly create real social value." Its investment areas cover biopharmaceuticals, high-end medical devices, biosynthesis technology, and more. The fund has participated in investments in biotech projects such as RecoRNA, Huayi Lejian, Vitarilon, Huaxia Yingtai, Molecular之心, BiNoJi, and Weigong Technology.

The BioIsland Innovation Center of BeiGene (BIC) is a next-generation incubator centered on scientists/entrepreneurs, with an experienced management team. By integrating external resources, it can support over 500 talented internal and external scientists and entrepreneurs to incubate highly differentiated innovations in fields such as pharmaceuticals, medical devices, and medical diagnostics in the future, paving new ways for exploring cutting-edge and groundbreaking industry innovations. Meanwhile, the center provides: 1) One-stop scientific support and R&D services, enabling "move-in ready" solutions to assist start-ups in their R&D process; 2) First-class venues and experimental facilities, including shared offices, shared laboratories, etc.; 3) Early-stage investment and follow-up financing services, including early-stage investment guidance, various equity participation methods, post-investment service management consulting, and an extensive investor network.

Xiaochi Capital, founded in 2021, is a technology venture capital firm focused on investments in life sciences and hard tech. To date, the company has invested in more than thirty outstanding companies in areas such as synthetic biology, biopharmaceuticals, and medical devices. Xiaochi Capital concentrates on fields with scalable market demand and high-barrier technological innovation, investing in and incubating life science and hard tech enterprises with sustainable competitiveness.