"China Renaissance Healthcare and Life Sciences Weekly Report" is regularly released, focusing on interpreting the weekly data from a capital perspective and providing the latest industry insights.Healthcare and life sciences is a sector that Huaxing Capital has focused on and deeply cultivated for many years. It has currently served as a financial advisor for nearly 200 financing and M&A projects.Innovation in the medical and life science technology industry continues to emerge, developing into one of the most active sectors. Huaxing Capital consistently supports and accompanies the growth of startups in this field, committed to bringing a rational and professional voice to the industry.Author | Huaxing Capital Healthcare and Life Sciences Team
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BioGeometry Completes Pre-A Round Financing
News on June 19: BioGeometry, a frontier digital biotechnology company, announced the completion of a new round of financing. This round was led by Techbeing Venture Capital, with Zhipu AI and Shengjing Jicheng participating in the investment. Existing shareholder Gao Rong Venture Capital continued to increase its investment. The funds will mainly be used to accelerate the implementation of generative AI large models in the field of biomanufacturing and to advance the development of proprietary products. BioGeometry's long-term vision is to create a generative AI platform to accelerate China’s manufacturing transformation towards digitization, intelligence, green practices, and sustainable development.Industry Perspective:
BioGeometry focuses on building a generative AI protein design platform to empower the entire biomanufacturing field. Its core team is a pioneer in applying generative AI to molecular generation, having used diffusion models for 3D molecular structure generation as early as 2021, making them one of the first teams to apply diffusion generative models to 3D molecular structure generation.
ReviR Therapeutics Completes Pre-A Round Financing of Tens of Millions of US Dollars
ReviR Therapeutics, an AI+RNA startup, announces the completion of a multi-million-dollar Pre-A round financing. This round was jointly invested by Shunwei Capital, CloudNine Capital, and Tiantu Investment, with existing shareholders Wu Yuan Capital and CDH VGC making oversubscribed follow-on investments. The proceeds will be used to further advance the evaluation and validation of ReviR Therapeutics' voyageRAI technology platform. By combining machine learning with advanced RNA biology R&D technologies, ReviR Therapeutics will accelerate the screening and development of its candidate compounds, laying the groundwork for extensive clinical application.Industry Perspective:
ReviR Therapeutics is committed to driving the development of RNA-targeted drugs through artificial intelligence algorithms and gene technology, addressing unmet clinical needs in oncology, infectious diseases, and rare diseases.
Leman Biotech Completes RMB 50 Million Financing
Recently, Leman Biotech Co., Ltd, a biotechnology company focused on the R&D, production, and commercialization of innovative drugs for novel cancer immunotherapy, announced that it has completed two rounds of new financing, totaling 50 million yuan in angel+ and angel++ rounds. The new investors in this round include Fuhui Venture Capital, Yunfan Technology Investment, and private financial investors, while existing shareholders TianTu Investment and XtalPi continued their support. In addition, Leman Biotech and its metabolically enhanced CAR-T project have successively received approximately 20 million yuan in various grants. To date, Leman Biotech has cumulatively obtained about 150 million yuan in angel investments and project funding. The funds raised from this round will mainly be used for the IND application and Phase I clinical research of metabolically enhanced CAR-T cell therapy drugs, accelerating the clinical research of cell therapy drugs targeting solid tumors.Industry Perspective:
Leman Biotech was co-founded in July 2021 by Professor Li Tang's team from EPFL (École Polytechnique Fédérale de Lausanne), Switzerland, in collaboration with XtalPi, and officially began operations in February 2022. Leman Biotech's core technology, Meta 10, has demonstrated significant potential for curing solid tumors, with related findings published in the prestigious academic journals Nature Immunology (2021) and Nature Biotechnology (2024).
Dingkang Medical Completes Hundreds of Millions of Dollars in Series E Financing
Recently, Dink Medical Technology (Suzhou) Co., Ltd. has completed a Series E round of financing worth several hundred million yuan, led jointly by Legend Capital and Qiming Venture Partners. The funds from this round will be used to strengthen the manufacturing center and commercialization efforts, further enhancing Dink Medical's leading edge in technology and product innovation, while simultaneously planning for overseas market investment and expansion.Industry Perspective:
DendyMed has developed more than ten types of balloons, including standard balloons, high-pressure balloons, scoring balloons, and drug-coated scoring balloons. Its product line covers the needs of almost all vascular intervention fields, including cardiovascular intervention, peripheral intervention, and neurointervention. After years of development, DendyMed has obtained 13 Class III medical device registration certificates in China and completed pre-market RCT clinical studies for five special types of balloons.
Hanno Medical Receives Nearly 100 Million Yuan in New Investment
Shenzhen Hannuo Medical Technology Co., Ltd. recently received nearly 100 million yuan in additional investment. This round of funding was jointly provided by Shenzhen Red Earth Healthcare Industry Equity Investment Fund Partnership (Limited Partnership), managed by Shenzhen Capital Group Co., Ltd., Shenzhen Capital Investment Co., Ltd., and Shenzhen Bao'an District Industrial Investment Guidance Fund. This follows the over 100-million-yuan Series E financing completed by Hannuo Medical at the end of December 2023. It also marks the second investment by Shenzhen Capital's Red Earth Healthcare Industry Fund, which first invested in Hannuo Medical in 2022.Industry Perspective:
Hannuo Medical is a global medical device R&D company focusing on extracorporeal life support technologies. Established just six years ago, the company has successfully overcome key core technologies in extracorporeal life support and achieved independent control and mass production of core product components. On January 4, 2023, the company's independently developed first domestically produced Extracorporeal Membrane Oxygenation System (ECMO) was approved for marketing in China. In July, two more core products were approved — a disposable centrifugal pump head and a disposable long-lasting membrane oxygenator. The products were quickly promoted and used across China after their launch.
Suzhou Kancer Completes Million-Yuan Angel Round Financing
On June 18, it was reported that Suzhou Cancer-cell Medical Laboratory Co., Ltd. completed an angel round of financing worth tens of millions of yuan. This round of financing was solely invested by Chuanggu Capital and a production laboratory has been established at the Anhui Su-Chu Industrial Park. The proceeds from the financing will be used for the standardized production and promotion of patented technology products developed by the company over the years, such as tissue fixatives, routine and special staining solutions, hard tissue slicing consumables, IHC automatic staining systems, and intelligent diagnostic systems. This will better provide registered-grade medical device consumables to GLP systematized CRO institutions and medical units, promoting the development of experimental pathology and clinical pathology in China.Industry Perspective:
Kanceal (Suzhou) initially focused on the research and development of pathology technology products, later transitioning to mainly providing pathology technology and diagnostic services. In 2018, it became the sole agent in China for Namsa's U.S.-based laboratory’s pathology technology and diagnostic services. In 2020, it was acquired by Jiangsu Biosafety Medical Technology Co., Ltd. Under a complete dual-reporting system between China and the U.S., the company provides one-stop preclinical services for medical devices and continues to offer pathology technology and diagnostic services to research institutions, CROs, and R&D enterprises.
Meimiaomiao Dental Secures Series B Funding from KIP Capital and Other Investors
According to information released by Tianyancha APP on June 18, Kangjian Miaomiao (Hangzhou) Pharmaceutical Co., Ltd. announced its Series B financing, with a financing amount of nearly 100 million RMB. The investment institutions involved include Lanwan Sci-Tech Group, Kangdelai, Xiaoka Capital, and KIP Capital.Industry Perspective：
Meimiaomiao Oral is a company that focuses on a one-stop procurement platform for dental drugs and materials. Based on the Internet and big data, the company improves circulation efficiency, reduces circulation costs, and provides high cost-effective dental materials to dental clinics. All products are provided with three certificates and official invoices are issued.
Neusoft Zhirui Completes Over 100 Million Yuan in Series C Financing
Recently, Shenyang Neusoft Zhirui Radiotherapy Technology Co., Ltd. announced that it has completed a C-round financing of over 100 million RMB led jointly by Lelit Capital and Neusoft Capital. It is reported that this round of financing will be used for the research and development and market expansion of high-end radiotherapy equipment and information systems, as well as the construction of new industrial bases, leading the precise and high-quality development of China's radiotherapy industry.Industry Perspective：
Neusoft Zhirui is a national high-tech enterprise, focusing on the development of high-end medical electronic linear accelerators and tumor radiotherapy information systems that cover the entire process, and promoting the application of artificial intelligence, cloud computing, and other technologies in the field of radiotherapy.
Hutchmed/Takeda's Fruquintinib Approved in the EU
FDA Approves Roche's New Generation Antibody Therapy
First DMD Gene Therapy Elevidys Receives Full FDA Approval
Luye Pharma's Parkinson's Disease Microsphere Product Approved for Marketing
World's First, Disogene's JAK Inhibitor Approved for Marketing
K Drug Approved for New Indication in First-Line Treatment of Endometrial Cancer
Multiple Medical Device Products Approved for Marketing
Hutchmed/Takeda's Fruquintinib Approved in the EU
On June 21, Hutchmed announced that its partner Takeda had received notification from the European Commission (EC) that the company had approved Fruzaqla.（Fruquintinib）Launch, as a single agent for the treatment of metastatic colorectal cancer previously treated with existing standard therapies.（mCRC）For adult patients, these standard therapies include chemotherapy based on fluoropyrimidine, oxaliplatin, and irinotecan, anti-VEGF drugs, anti-EGFR drugs, as well as patients with disease progression or intolerance after trifluridine/tipiracil or regorafenib treatment. Fruquintinib is the first novel targeted therapy for mCRC in the EU in over a decade, regardless of the patient's biomarker status.FDA Approves Roche's Next-Generation Antibody Therapy
The U.S. FDA website shows that Roche's newly developed C5 cyclic antibody Piasky (crovalimab) has been approved for the treatment of patients with paroxysmal nocturnal hemoglobinuria (PNH). According to previous press releases, Piasky is the first monthly subcutaneous injection treatment for PNH, and patients have the option to self-administer the drug outside of supervised medical facilities.First DMD Gene Therapy Elevidys Receives Full FDA Approval
On June 20, Sarepta Therapeutics, a leader in small nucleic acid drugs, announced that the U.S. FDA had approved the expanded indication for its Duchenne muscular dystrophy (DMD) gene therapy Elevidys to include patients aged at least 4 years. The FDA granted traditional approval for ambulatory patients and accelerated approval for non-ambulatory patients.Source: Frontiers in Cell and Gene TherapyLuye Pharma's Parkinson's Disease Microsphere Product Approved for Marketing
On June 20, Luye Pharma announced that the marketing application for its long-acting rotigotine microsphere injection (LY03003) had been approved by the National Medical Products Administration (NMPA) of China. Developed based on Luye Pharma’s microsphere technology platform, LY03003 is a sustained-release microsphere formulation administered once weekly. According to the priority review disclosure by the Center for Drug Evaluation (CDE) under the NMPA, the indication approved this time is for Parkinson's disease.World's First, DiZhe Medicine's JAK Inhibitor Approved for Marketing
According to the JACKPOT8B study, Golidocitinib, a first-class JAK1 inhibitor, has been approved for the treatment of Chinese adult patients with r/r PTCL. It is the world's only approved JAK1 selective inhibitor for this condition. PTCL is an aggressive non-Hodgkin lymphoma with a high risk of recurrence and poor prognosis. Compared with existing treatments, monotherapy with Golidocitinib has demonstrated superior clinical benefits and good safety, offering new hope to patients with limited options.K Drug Approved for New Indication in First-Line Treatment of Endometrial Cancer
On June 17, Merck announced that the supplemental Biologics License Application (sBLA) for pembrolizumab (Keytruda, K drug) has been approved by the FDA for use in combination with standard chemotherapy (carboplatin and paclitaxel) to treat patients with primary advanced or recurrent endometrial cancer. This means that Keytruda becomes the first-line immunotherapy in the field of endometrial cancer that disregards mismatch repair status. This is also the third indication approved for Keytruda in the field of endometrial cancer and the 40th indication approved in the United States.Multiple Medical Device Products Approved for MarketingRecently, the ConSuper™ Occluder Delivery System, independently developed by Carefree Medical Technology (Shenzhen) Co., Ltd., has officially obtained the Class III medical device registration certificate (Approval No. 20243030961) from the National Medical Products Administration in China. This innovative product is mainly used for occlusion treatment of patent foramen ovale (PFO), atrial septal defect (ASD), ventricular septal defect (VSD), and patent ductus arteriosus (PDA).On June 19, the National Medical Products Administration announced that it had recently approved the registration application for the innovative product "Fundus Lesion Fundus Image Auxiliary Diagnosis Software" produced by Beijing Zhiyuan Huitu Technology Co., Ltd.Recently, Lumenis announced that its breakthrough laser system for combating hair loss, FoLix, has received FDA approval in the United States, becoming the first and only fractional laser option for the safe, effective, and natural treatment of hair loss.
Source: Siyu MedTech
Recently, it was reported that Abbott (NYSE: ABT) has received NMPA approval for its next-generation bioprosthetic valves, Epic Plus and Epic Plus Supra, to be launched in China.Source:SiYu MedTech
Recently, DePuy Synthes, the orthopedics division of Johnson & Johnson, announced that its Velys surgical robot has received approval from the U.S. Food and Drug Administration (FDA) for use in unicompartmental knee arthroplasty (UKA).Source:Medical Device Innovation Network
Baili Pharmaceuticals: Development of the Second EGFR/HER3 Bispecific ADC
Kelun-Biotech: PTK7 ADC Initiates Phase I Clinical Trial
Lilly: Tirzepatide Phase III Clinical Trial for Sleep Apnea Successful
Promising Results Announced for Potential "Best-in-Class" Long-Acting Weight Loss Therapy
Huadong Medicine "HDM1002" Phase I Clinical Trial Results Announced
FDA Partially Suspends BioNTech/Yilian Biologics HER3 ADC Phase I Clinical Trial
Baili Pharma: Development of the 2nd EGFR/HER3 Bispecific ADC
On June 19, 2024, Baili Pharmaceuticals registered a Phase I clinical trial for BL-B16D1 on the Drug Clinical Trial Registration and Information Disclosure Platform website, aimed at treating head and neck cancer as well as other solid tumors.Source: Pharmaceutical NotesKelun-Biotech: PTK7 ADC Initiates Phase I Clinical Trial
On June 21, 2024, Kelun-Biotech registered a Phase I clinical trial for SKB518 on the Drug Clinical Trial Registration and Information Disclosure Platform website, intended for the treatment of advanced solid tumors.Lilly: Tirzepatide Phase III Clinical Trial for Sleep Apnea Successful
On April 17, 2024, Eli Lilly announced the success of two Phase III clinical trials of tirzepatide in treating obesity with obstructive sleep apnea (OSA). On June 21, detailed data from these two Phase III clinical trials were simultaneously published in the NEJM journal and at the ADA meeting.Potential "Best-in-Class" Long-Acting Weight Loss Therapy Shows Positive Results
Zealand Pharma Announces Topline Results from Part 2 of the Phase 1b Multiple Ascending Dose (MAD) Trial of Petrelintide, a Long-Acting, Potential "Best-in-Class" Weight Loss TherapyHuadong Medicine "HDM1002" Phase I Clinical Trial Results Announced
Recently, HDM1002 tablets, an innovative oral small-molecule GLP-1 receptor agonist independently developed by Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd., a wholly-owned subsidiary of Huadong Medicine, achieved positive results in Phase Ⅰa and Ⅰb clinical trials in China.FDA Partially Suspends BioNTech/Yilian Biologics HER3 ADC Phase I Clinical Trial
On June 17, BioNTech disclosed in an SEC filing that it had learned from its partner, Yilian Biologics, that the U.S. FDA had partially placed on hold the multicenter, open-label, first-in-human Phase I clinical trial (NCT05653752) of the investigational HER3 ADC drug BNT326/YL202. The trial aims to evaluate the safety of BNT326/YL202 as a later-line treatment for patients with EGFR-mutated advanced or metastatic non-small cell lung cancer (NSCLC) or HR+/HER2- breast cancer (BC). The partial hold has impacted the enrollment of new patients in the U.S. for this trial.
Roche Collaborates with Ascidian on RNA Editing Therapy
Belharra Therapeutics, a drug discovery company, partners with Sanofi to advance the development of novel small-molecule immunology treatments.
$1.2 Billion: Chinese Biotech's PTK7 ADC Goes Global
Roche Partners with Ascidian on RNA Editing Therapy
On June 18, biotechnology company Ascidian Therapeutics announced a collaboration with Roche to jointly discover and develop RNA exon editing therapies for neurological diseases, in a deal worth up to $1.8 billion.Source: Frontier of Cell and Gene TherapyBelharra Therapeutics, a drug discovery company, partners with Sanofi to advance the development of novel small-molecule immunology treatments.
On June 18, to further strengthen its commitment to immunology and inflammation research, Sanofi partnered with Belharra Therapeutics and its chemoproteomics platform to develop small molecules targeting disease-related pathways, which will be selected by Sanofi. The California-based biotech company will receive up to $40 million in upfront and near-term milestone payments. Belharra is also eligible for up to $700 million in research, development, and commercial milestone payments, as well as tiered royalties.$1.2 Billion: China Biotech's PTK7 ADC Goes Global
Recently, Day One Biopharmaceuticals, a clinical-stage biopharmaceutical company, announced an exclusive licensing agreement with a Chinese biotech company for an innovative PTK7 ADC drug, MTX-13, with a total deal value of up to $1.2 billion. Day One has made an upfront payment of $55 million to acquire all rights to MTX-13 outside of Greater China. Additionally, MabCare is eligible to receive up to $1.152 billion in development, regulatory, and commercial success milestone payments.Source: Frontier of Cell and Gene Therapy
"First Medical Cold Chain Stock" Shanghai Shengsheng IPO Terminated
After receiving the withdrawal application for issuance from the listing entity and the sponsor institution, the Shanghai Stock Exchange terminated the review of the main board listing of "Shanghai Shengsheng Pharmaceutical Cold Chain Technology Co., Ltd." on the evening of the 17th.
Statistical Period: June 17, 2024 - June 21, 2024
*Data source: Huaxing Capital Internal Compilation
Market Value Date: June 21, 2024Market Value Unit: Million USD
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