Nineteen Innovative Drug Developers Secure New Funding in March 2024, Raising Total of RMB 2.25 Billion
Proviva Therapeutics
Developer of Next-Generation Cytokine Anti-Tumor Immunotherapy
Simnova
Innovative Cell Therapy Product Developer
According to the statistics from IntelPharm, in March 2024, there were a total of19 companiesInvolved new drug R&D companies have completed a new round of financing, with a disclosed total amount of approximatelyRMB 2.25 billion。
Financing Overview
In March's financing events, early-stage projects accounted for over 70%, totaling 11 cases; there were 2 Series B financings, 5 Series C financings, and 4 undisclosed events.
In terms of disclosed amounts, there were 5 financing events at the hundred-million-yuan level this month, a significant decrease compared to last month. In the early stage,Proviva Therapeutics and SimnovaImpressive achievements: Proviva Therapeutics has successfully completed a Series A financing round of $18 million (equivalent to 130 million RMB) and a Series A+ financing round of 200 million RMB. Proviva Therapeutics is committed to developing a new generation of cytokine anti-tumor immunotherapy, with its pipeline PTX-912 having initiated Phase I clinical trials in the United States; Simnova focuses on immune cell therapy, making efforts in the fields of hematological tumors and solid tumors.
The B-round and post-B-round financing activities disclosed this month are all near-billion-level events, among which, Beijing Varnotech Biopharm Ltd., a platform company focused on the research, development, and industrialization of human vaccines and innovative adjuvants.Varnotech Biopharm, receiving 600 million yuan in funding support, becoming the highest financing amount this month;
The field of nuclear medicine continues to gain attention. Dongcheng Pharmaceutical announced that it has agreed with its subsidiaryMidu (Yantai) Biotechnology Co., Ltd.Midu (Yantai) Biotechnology Co., Ltd., a nuclear medicine CRDMO company, has raised nearly 400 million yuan in funding through an equity expansion, with the participation of state-backed investors.
From the perspective of regional investment and financing热度Come and see, longThe proportion of the triangular region is close to half. Meanwhile, investment and financing activities in other regions are also showing a multi-point blossoming trend, no longer limited to traditional hotspots such as Beijing and the Pearl River Delta. It is worth noting that financing events have emerged in regions like Southwest China, Yantai, and Hefei, with high participation from local funds, providing strong support for the industry's continuous innovation.
This month's R&D-type financing events involved cell and gene therapy drugs, small molecule new drugs, large molecule drugs, nucleic acid drugs, radiopharmaceuticals, AI drug development, innovative vaccines, formulation R&D, synthetic biology, oncolytic virus products, live biotherapeutics, and CRO/CDMO sectors.
The disclosed financing events cover multiple therapeutic areas, including cancer treatment, ophthalmic diseases, autoimmune diseases, chronic diseases, and neurological disorders.
The following is a summary of financing events:
Financing events at the level of nearly 100 million yuan and above
Proviva Therapeutics
Round: Series A
Amount: 18 million US dollars (equivalent to 130 million RMB)
Proviva Therapeutics Completes $18 Million Series A Financing to Advance Clinical Development of Its Core Product PTX-912. Lapam Investment, Enran Venture Capital, and Xiantong Capital Jointly Participated in This Round of Financing.
Proviva Therapeutics is a developer of anti-tumor biologics, dedicated to advancing a new generation of cytokine-based cancer immunotherapies. The company has developed the “Crossover” cytokine prodrug technology platform, enabling specific drug activity release within the tumor microenvironment.
Hegia Bio
Round: A1 Round
Amount: Nearly 100 Million Yuan
Hangzhou Hegenix Biomedical Co., Ltd. Successfully Completes Nearly 100 Million Yuan in Series A1 Financing. This round of financing was led by Tasly Capital, with follow-up investments from Hedada Health and Shanghai Jianxin Capital, and continued support from existing shareholders.
Hegia Bio is dedicated to the construction of a delivery technology platform in the siRNA field and drug development, establishing an end-to-end siRNA drug development platform from target discovery to clinical proof of concept (POC), with a team covering the entire life cycle from early research to industrialization.
Simnova
Round: A+ Round
Amount: 200 million yuan
Simnova Completes RMB 200 Million Series A+ Financing. This round of financing was led by You Mountain Capital, with participation from Yuanhe Origin, Pudao Capital, and Guochuang Qinzhi.
Simnova is an innovative immunotherapy cell therapy developer. In addition to developing universal CAR-NK and next-generation mRNA in vivo cell therapy products, the company is also advancing the clinical research and application of its solid tumor CAR-T project.
Zhonbriva
Round: A+ Round
Amount: 200 million yuan
Proviva Therapeutics Completes Nearly RMB 100 Million Series B Financing. This round of financing was led by Daotong Investment, with participation from Qikun Fund and Jinjue Investment. Existing shareholders GaoKe XinJun, YuanYi Investment, and Innovation Works continued to increase their investment.
Proviva Therapeutics is a provider of cell immunotherapy products and testing services, focusing on the screening, diagnosis, treatment, and health management of diseases such as cancer, cardiovascular and cerebrovascular diseases, immune disorders, and age-related conditions. Relying on technologies such as ACTL-targeted anti-tumor cell immunotherapy and EAAL-expanded activated autologous lymphocyte technology, the company has developed various cell immunotherapy products. Additionally, it offers users early cancer screening services, including tumor antigen detection, circulating tumor cell and DNA testing.
Varnotech Biopharm
Round: B Round
Amount: 600 million yuan
Beijing varnotech Biopharm Ltd. Officially Announces Completion of 600 Million Yuan Series B Financing. This round of financing was jointly led by Beijing Medical and Health Industry Investment Fund and Ming Tai Fund under Huayin Jintou, with investments also completed by Shuimu Chunjing Capital, Shunxi Fund under Guoguan, Bencao Capital, and Jincheng Fund.
Beijing Varnotech Biopharm Ltd. is a company focused on the research, development, and industrialization of novel human vaccines and innovative adjuvants. With proprietary adjuvant technology, it collaborates with multiple vaccine companies to drive the development of China's vaccine industry. It has currently formed a "one center, two bases" distribution.
NuriMed
Round: C Round
Amount: Over 300 Million Yuan
NuriMed recently announced the completion of a Series C financing round exceeding 300 million yuan. This round of financing was jointly invested by Chengdu Science and Technology Investment, Chengdu BioCity Fund, Sichuan Venture Capital, and others, with existing shareholders such as Huaxing Kangping, Xinjun Capital, and Starry Capital continuing to increase their investment.
NuriLite Healthcare is a technology enterprise that integrates the research, production, and sales of medical isotope diagnostic and therapeutic products, conducts demonstration research on the diagnosis and treatment of various malignant tumor diseases, and provides nuclear medicine technical services and scientific consulting, focusing on the research, innovation, and industrialization of radiopharmaceuticals.
Zhiyi Biotech
Round: C Round
Amount: Nearly 100 Million Yuan
Guangzhou Zhiyi Bio completed the first phase of its C-round financing, raising nearly 100 million RMB, led by Yueke Financial and followed by Airui Investment.
Zhiyi Biotech is a biopharmaceutical developer dedicated to the research and development of next-generation probiotics (NGPs), live biotherapeutics (LBPs), and therapeutic approaches.
Midu (Yantai) Biotechnology Co., Ltd.
Round: Unknown Round
Amount: 400 million yuan
Yantai Dongcheng Pharmaceutical Group Co., Ltd. Announces Agreement to Increase Capital and Expand Shares of Its Subsidiary Midu (Yantai) Biotechnology Co., Ltd., Led by SDIC Zhaoshang, with Follow-up Investments from SDIC Juli, Shandong Local Industry Fund, etc., Raising a Total of Nearly 400 Million RMB.
Midu (Yantai) Biotechnology Co., Ltd. has operations in Yantai, Nanjing, Wuxi, Guangzhou, and other locations, primarily providing CRDMO services to pharmaceutical companies in China and abroad based on nuclear medicine technology.
Anlixi Rong
Round: Unknown Round
Amount: Nearly 100 Million Yuan
Amolytix completed a combined financing of nearly RMB 100 million equivalent in USD funds. This round of financing received strong support from three USD funds.
Anlixi Rong is an innovative immunotherapy drug developer dedicated to the research and development of drugs for cancer, immunity, and neurological disease treatments, providing users with products such as Alzheimer's drugs and novel antibody biologics.
