Viva BioInno Portfolio Companies Showcase Robust Pipeline Progress, Strategic Collaborations, and Significant Fundraising Milestones

Hong KongMarch 6, 2024PR Newswire -- In the face of an ever-changing landscape, technological innovation remains the eternal main theme for the long-term development of biopharmaceutical enterprises, continuously injecting vitality into companies and driving the "from 0 to 1" transformation in R&D as well as commercialization success. Recently, there have been new developments in companies invested in and incubated by Viva Biotech: AceLink and Tocris Bioscience report smooth R&D progress; Proviva Therapeutics, Basking, Tocris Bioscience, and Fluorolink have successfully completed financing rounds; Viva BioInnovator has received honors; Absci has reached a key collaboration.

Proviva Therapeutics Completes $18 Million Series A Financing

Recently, Proviva Therapeutics, in which Viva Biotech participated in investment incubation, is pleased to announce the completion of a US$18 million Series A financing round to advance the clinical development of its core product PTX-912. This financing round was jointly participated by Longpan Investment, Enran Venture Capital, and Sangel Capital.

Proviva Therapeutics is a clinical-stage biotechnology company dedicated to developing a new generation of cytokine-based anti-tumor immunotherapies. To address the traditional challenge of cytokine peripheral toxicity, the company has independently developed the "Crossover" cytokine prodrug technology platform, which enables specific drug activity release within the tumor microenvironment. Relying on the "Crossover" technology platform, Proviva successfully developed PTX-912 – a next-generation prodrug fusion protein targeting immune cells with interleukin-2 (IL-2).

AceLink Therapeutics Releases Phase I Clinical Trial Data of AL01211 in Healthy Volunteers

Newark, California – February 26, 2024 – AceLink Therapeutics, a clinical-stage biopharmaceutical company developing next-generation oral substrate reduction therapies (SRTs) and incubated with investment participation from Viva Biotech, announced that the results of its Phase I study of AL01211 in healthy volunteers have been published in the peer-reviewed American College of Clinical Pharmacology journal *Clinical Pharmacology in Drug Development*. AL01211 is a potent oral glucosylceramide synthase (GCS) inhibitor being developed for the treatment of Fabry disease and Type I Gaucher disease.

In the published Phase I study, single-dose escalation and multiple-dose escalation of AL01211 were conducted to determine its safety, pharmacokinetics (PK), and pharmacodynamics (PD) effects in healthy volunteers. Overall, AL01211 demonstrated good safety and tolerability with no serious adverse events. At the 30mg dose level, plasma glucosylceramide and globotriaosylceramide were reduced by 78% and 52%, respectively, from baseline levels, supporting further clinical research of AL01211.

Basking Announces $55 Million Financing Led by ARCH to Accelerate Clinical Development of Reversible Thrombolytic Agent

Columbus, Ohio – January 30, 2024 – Basking Biosciences ("Basking"), a clinical-stage biopharmaceutical company developing novel acute thrombolytic therapies for stroke and incubated with investment participation from Viva Biotech, announced the completion of a $55 million financing round. The round was led by new investor ARCH Venture Partners, with additional new investors Insight Partners, Platanus, Solas BioVentures, and RTW Investments, as well as existing investors participating. Dr. Steven Gillis, Managing Director of ARCH Venture Partners, will serve as Chairman of Basking’s Board of Directors. The company had previously completed a $5.4 million seed funding round, with investors including Rev1 Ventures, Broadview Ventures, and Viva Biotech.

Basking will use the financing to accelerate the clinical development of BB-031. This is a first-in-class reversible RNA aptamer targeting von Willebrand Factor (vWF), designed for rapid onset and short duration of efficacy.

Tecorow Receives Multi-Million Dollar Pre-B Round Funding from Viva Biotech, Successfully Completes Phase IIa Clinical Trial of TDM-105795, a First-in-Class Global Innovative Drug for Androgenetic Alopecia Treatment, and Completes Dose-Escalation Phase I Clinical Trial of TDM-180935 for Eczema/Dermatitis Indications

According to a report by VCBeat on January 15, Teco Biotechnology (Chengdu) Co., Ltd. ("Teco"), a clinical-stage company focused on the research and development of new drugs for skin diseases and incubated with investment participation from Viva Biotech, announced that it had recently completed a Pre-B round of financing worth tens of millions of RMB. This round of financing was provided by Wanshi Ventures, and the funds will be used for subsequent clinical development of the hair project and Phase II clinical trials (China-US Phase IIa clinical trials) for the eczema dermatitis project in both China and the US. On February 5, Teco was pleased to announce: The first Phase II clinical trial (NCT05802173) of the topical formulation TDM-105795 for the treatment of androgenetic alopecia (AGA) has been successfully completed.

Moreover, on December 4, 2023, Techpool announced the completion of the Phase I clinical trial (NCT05525468) for TDM-180935 topical ointment targeting atopic dermatitis/eczema, with all trial results meeting expectations.

Fusion Technology Announces Completion of Series B USD Financing and Groundbreaking of its Belgium GMP Production Facility

Shanghai/Jambes/Heidelberg – January 4, 2024 — Viva Biotech's portfolio company, Full-Life Technologies (hereinafter referred to as "Full-Life"), a fully integrated international radiopharmaceutical therapeutics company, announced the completion of a $63.3 million financing round, including $47.3 million in Series B equity financing and a $16 million credit facility. This round of financing will help the company rapidly advance the development of its radiopharmaceutical pipeline and the construction of its drug manufacturing capabilities, while also optimizing its proprietary discovery platform, UniRDC™. With the completion of this financing, Full-Life has raised over $110 million since its establishment in August 2021, including equity financing, debt financing, and government subsidies.

On December 8,辐联科技 (Full-Life Technologies) announced the groundbreaking of its GMP-compliant radiopharmaceutical production facility in Jambes, Belgium, further advancing its full-chain solutions for radiopharmaceuticals.

Viva Biotech Receives Funding from Hong Kong Innovation and Technology Commission's "Enterprise Support Program" and Ranks on the "2023 Hurun Global Gazelle Companies List"

Recently, Viva Vision Bio, the Hong Kong subsidiary of Viva Biotech, an innovative ophthalmic drug company focusing on differentiation and global new developments, announced that its innovative fundus drug VVN481 has successfully received funding from the Hong Kong Innovation and Technology Commission's "Enterprise Support Scheme (ESS—Hong Kong-Israel R&D Cooperation Programme)." This funding will be used to advance the preclinical research and development work of this pipeline with the aim of expediting it to the clinical stage. Additionally, Viva Vision Bio was recently honored on the Hurun Global Cheetah Companies 2023 list.

Viva Biotech's Portfolio Company Absci Announces Collaboration with AstraZeneca to Develop AI-Driven Oncology Candidates

Vancouver, Washington, December 4, 2023 — Absci Corporation (NASDAQ:ABSI), a leader in generative AI antibody discovery and a portfolio company of Viva Biotech, announced a collaboration with global biopharmaceutical company AstraZeneca to deliver AI-designed antibodies targeting oncology indications. This collaboration combines Absci’s Integrated Drug Creation™ platform with AstraZeneca’s expertise in oncology, aiming to accelerate the discovery of potential novel cancer therapeutic candidates. The agreement includes upfront payments, research funding, and milestone payments, totaling up to $247 million.

About Proviva Therapeutics

Proviva Therapeutics was founded in 2019 by a top-tier team of experts in protein engineering and tumor immunology, dedicated to developing a new generation of cytokine-based anti-tumor immunotherapies. The company has independently developed the "Crossover" prodrug technology platform, which enables the specific release of cytokines within the tumor microenvironment, effectively addressing the issue of peripheral toxicity associated with cytokines. Leveraging this platform technology, the company successfully advanced its clinical candidate PTX-912, which has already entered Phase 1 clinical trials in the United States.

About AceLink Therapeutics

AceLink Therapeutics, founded in 2018, is an innovative biopharmaceutical startup focused on developing safe and effective drugs to address the significant unmet clinical needs of genetic disorders. The company’s initial focus is on developing novel treatments for Fabry disease. For more information, please visitwww.acelinktherapeutics.com

About Basking Biosciences

Basking Biosciences is a clinical-stage company aimed at addressing the greatest need in ischemic stroke treatment—a fast-acting, short-duration thrombolytic drug that offers a significantly extended treatment window compared to existing therapies, restores blood flow through occluded arteries, and can have its activity rapidly reversed in case of bleeding. The company’s lead drug candidate, BB-031, is a first-in-class RNA aptamer targeting von Willebrand Factor (vWF), a critical structural component of thrombi and a key driver of the coagulation process.

About TECORO Biotechnology (Chengdu)Ltd.

Tecorobo Biotechnology (Chengdu) Co., Ltd. is a clinical-stage biopharmaceutical company. Formerly known as Jiaxing Tecorobo Biotechnology Co., Ltd., the company recently relocated to Chengdu Tianfu International Bio-Town, Sichuan Province, in March 2023.

The company's current core R&D projects include innovative drugs for the treatment of androgenetic alopecia, atopic dermatitis/eczema, psoriasis, and systemic lupus erythematosus. TDM-105795, the company’s globally leading small molecule candidate drug for treating androgenetic alopecia, is about to complete Phase IIa clinical trials. An innovative JAK1/TYK2 inhibitor for atopic dermatitis/eczema has also completed Phase I clinical trials and will soon proceed to Phase II Proof of Concept (POC) trials. The company has multiple preclinical or clinical-stage candidate drugs in its pipeline, all targeting various dermatological indications.

About FL Technology

Radiopharmaceuticals United Co., Ltd. ("Radiopharmaceuticals United") is a fully integrated international radiopharmaceutical therapy company with offices in Belgium, Germany, and China. We are committed to building a nuclear medicine company with a complete industrial chain encompassing the research, development, production, and commercialization of radiopharmaceuticals to benefit patients worldwide. We plan to address the core issues currently affecting radiopharmaceutical R&D through innovative research targeting future treatment methods. Our team includes experienced entrepreneurs and scientists who are adept at managing biopharmaceutical companies and well-versed in the research and clinical development of radioisotopes.

About Viva Biotech

Viva Vision Bio is a clinical-stage biotechnology company focused on the field of innovative ophthalmic drug development, with a world-class team and technology platform for ophthalmic drug research. Relying on independent research and development, the company has established a globally competitive product pipeline. In addition to the VVN001 project, Viva Vision Bio is developing VVN539 for the treatment of glaucoma or ocular hypertension, and VVN461 for the treatment of non-infectious anterior uveitis and postoperative inflammation. Viva Vision Bio is also committed to discovering and developing new therapies for the treatment of other anterior and posterior eye diseases.

About Absci

Absci is a generative AI drug development company that combines artificial intelligence with scalable wet-lab technologies to create better biologics for patients faster. Its Integrated Drug Creation™ platform unlocks the potential to accelerate time-to-market and increase the probability of success by simultaneously optimizing multiple drug properties for both developability and therapeutic effect. Through data-driven learning, AI creation, and wet-lab validation, Absci can screen billions of cells per week, enabling it to complete the process from AI-designed antibodies to wet-lab validated drug candidates in as little as six weeks. Absci’s vision is to deliver breakthrough treatments for everyone at the push of a button. For more information, please visit www.absci.com.