Chinese AI-Driven Biotech XinYue Bio Secures Tens of Millions in Series A Funding and Files for IPO
NewDEL Biotech
Antitumor New Drug R&D Company
Recently, Shenzhen NewDEL Biotech Co., Ltd. (hereinafter referred to as "NewDEL Biotech")Announced the completion of a Series A financing round worth tens of millions of RMB, with the current round of investment coming from existing shareholder HCC Capital.
This round of financing will be used to accelerate the domestic Phase I clinical trial of the innovative drug ND-003 project in China, the construction of the DEL+X technology platform (including DEL+AI, namely SMART DEL, DEL+protac, and DEL+molecular probes), as well as for the preclinical and early clinical development of other projects within the company.
NewDEL Biotech was established in April 2021 as the first biopharmaceutical company incubated by Guangdong Province's Small Molecule New Drug Innovation Center.The company owns the world's leading DEL live cell screening technology and continues to build the DEL+X technology platform, including SMART DEL, DEL+protac, and DEL+molecular probes.
Founder of NewDEL BiotechHe XunAn expert in the biopharmaceutical field, a member of the 8th National Pharmacopoeia Committee, a member of the Shenzhen Science and Technology Experts Committee, and the founding president of the Shenzhen Life Science and Biotechnology Association.
Since its establishment more than two years ago, the company has built a full industrial chain team for new drug development from the DEL Technology Center to the Business Marketing Department, constructed the DEL+X technology platform, and developed dozens of R&D pipelines.
February 2024, NewNewDEL Biotech and the Guangdong Small Molecule New Drug Innovation Center jointly developed the Class 1 new drug ND-003, which completed its first-in-human (FIH) dosing today. This is aHighly selective kinase inhibitor.
In addition, the company stated that it has reached a multi-million-dollar order cooperation with a listed pharmaceutical enterprise.
He Xun, Chairman of NewDEL Biotech, said:Regarding the completion of this round of financing, we are very grateful to our existing shareholder and Cheng Capital for their trust and support in NewDEL Biotech's innovative R&D capabilities, clinical development capabilities, and future commercialization potential. The funds raised from this round will provide significant support for further enhancing the company’s technology platforms, advancing the clinical development of First-in-class innovative drugs, and initiating new pipeline projects. Over the past year, despite experiencing a capital winter, the company has relied on its solid technical reserves and R&D resources to address unmet clinical needs. It has built a competitive and differentiated drug R&D pipeline and technological platform, achieving remarkable progress in project advancement and external collaborations.
Honest Capital Management said:We are very pleased to have the opportunity to support the development of NewDEL Biotech through this round of investment. Based on a profound understanding of small molecule drugs, NewDEL Biotech has built a highly competitive technology platform, focusing on unmet clinical needs and independently developing innovative drugs with internationally leading standards. Despite the overall challenges faced by China's innovative drug industry, NewDEL Biotech's innovation capabilities, efficient team execution, highly collaborative pipeline layout, and inspiring data strongly demonstrate the company’s value and development potential.
