Nine CGT Companies Secured Over RMB 10 Billion in Financing in January 2024

Feb 09, 2024 10:20 CST Updated 10:20

Kousai

Developer of Dendritic Cell Tumor Therapeutic Vaccines

Tr1X

Cell Therapy Developer

Disclaimer: Due to limited proficiency, errors are inevitable, and some information may not be the most up-to-date. Feel free to point out in the comments. This article is only for the introduction of medical and health-related drugs, not a recommendation of treatment plans (if involved); this article does not constitute any investment advice.

Public information shows that, in January, several CGT companies announced new financing progress.

In terms of financing rounds, early-stage financing still accounts for the majority.；From the disclosed financing amounts, three companies have raised over 100 million RMB.This article will share basic information about nine of these companies based on publicly available data.

1. Hongxin Biotech Completes Tens of Millions of Yuan in Pre-A Round Financing, Building an Engineered Cell Targeted Delivery Platform

2024January 17,Shenzhen Hongxin Biotechnology Co., Ltd. (hereinafter referred to as "Hongxin Bio") announced the completion of a Pre-A round of financing worth tens of millions of yuan.This round of financing was jointly led by Zijin Harbor Capital and Hongtao Capital, with Shenzhen Angel Direct Investment Fund and Synthesis Capital following up.The proceeds of this round of financing will be used forClinical development of the core product HN2201 and preclinical drug development based on the engineered cell-targeted delivery platform (EnC-LNPs).

Shenzhen Hongxin Biotechnology Co., Ltd. (MagicRNA), established in December 2021, is a research and development enterprise focusing on nucleic acid drug delivery and therapeutic mRNA innovative drugs. The company's mission is "to deeply cultivate nucleic acid drug delivery and benefit patients with RNA therapy." Hongxin Biotechnology's first tumor therapeutic drug, HN2201, has completed preclinical research and obtained ethical approval for clinical trials from multiple hospitals. It is about to enter the clinical trial stage and received support from Shenzhen's major scientific and technological projects in 2023.

2. Hengsai Biotech Completes Tens of Millions of Yuan in A+ Round Financing, Committed to DC Vaccine R&D and Industrialization

2024On January 17, Hengsai Biotech announced that it had secured another multi-million yuan A+ round of financing following a billion-yuan funding round in November 2023. The funds will be used to advance the expansion of its product pipeline, clinical applications, and the construction of its Zhongshan R&D center and pilot production facility. This round of financing was jointly invested by Cuiheng Group, Xiwan Investment Control, Zhongshan Venture Capital, and Chengming Capital.

Hengsai Biotech, established in 2018, is an innovative technology enterprise dedicated to the research and industrialization of dendritic cell vaccines (DC vaccines) and a national high-tech enterprise. The company has successfully built the Eco-DCVax platform, aiming to break through industrialization technological barriers and develop high-quality DC vaccine products with independent intellectual property rights that are global First-in-Class in terms of safety, efficacy, and convenient administration. The developed product—therapeutic dendritic cell vaccines—provides new treatment pathways and strategies for diseases urgently needing effective treatments in clinical settings, such as recurrent and refractory tumors, chronic viral infections, and autoimmune diseases.

3. Tr1X Completes $75 Million Series A Financing to Develop Universal Allogeneic Treg and CAR-Treg Cell Therapies

2024On January 17, startup Tr1X emerged from stealth mode and announced the completion of a $75 million Series A financing round.Tr1XAiming to develop universal allogeneic regulatory T-cell (Treg) and CAR-Treg cell therapies, for the treatment and potential cure of autoimmune and inflammatory diseases.

Currently, Tr1X is focused on developing its investigational Tr1 cell therapy TRX103. The company plans to evaluate TRX103 in a Phase 1 trial for the prevention of graft-versus-host disease (GvHD) in patients receiving mismatched hematopoietic stem cell transplants. The company is also developing additional pipeline programs for the treatment of inflammatory bowel disease, type 1 diabetes, and various B cell-mediated autoimmune diseases.

Tr1X Proprietary Technology Platform (Source: Official Website)

4. Tr1X Completes Tens of Millions of RMB in Strategic Financing,Focus on Nucleic Acid Delivery Technology Platform

Recently, Chengdu Nuoen Gene Technology Co., Ltd. has completedTens of Millions of RMB in Strategic FinancingLed by a fund under Advent International, with Tibet Pharmaceutical following up.

Chengdu Nuoen Gene Technology Co., Ltd. has built its own intellectual property system in the two fields of gene therapy and gene testing. It has achieved breakthrough results in quantitative gene detection technology and nucleic acid delivery technology, possessing a dual technology platform with original, world-leading miRFLP-miRNA quantitative detection and nLPX liposome nucleic acid delivery.Tr1X has a full industrial chain system, with mature experience from antigen design to commercial production, providing a complete set of process systems that can reduce costs and increase efficiency, creating low-cost, high-efficacy vaccines.

5. Hengrui Yuanzheng Completes Nearly 100 Million C3 Round of Financing, Driving the Development of Cell Therapies for Solid Tumors

2024On January 9, Hengrui Yuanzheng announced the completion of a nearly 100-million-yuanC3 RoundFinancing, Original InvestorZijin Port CapitalContinue to invest, other co-investors includeCASIC Innovationand other institutions. The funds will be used to advance the development of the company's solid tumor cell therapy pipeline.

Hengrui Yuanzheng, established in Shanghai in 2015 by Hengrui Medicine and Shenzhen Yuanzheng Cell Medical Technology Co., Ltd., is a biotechnology company focused on cell therapy for solid tumors.Hengrui Source is currently developing a product pipeline that includes MASCT products, TCR-T immune cell products, and TCR bispecific antibody products.The company's MASCT and TCR-T products have applied for 46 patents of various kinds, and through PCT applications, have been granted 15 authorizations in China, the United States, Japan, Russia, and Israel. The company’s independently intellectual property rights product, "Multi-Antigen Autologous Immune Cell Injection (MASCT-I)," has received clinical trial approval from the National Medical Products Administration and is currently conducting Phase II clinical trial research for registration.

6. BridgeBio Raises $1.25 Billion in Financing,Accelerate the Development and Market Launch of Gene Drugs

2024On January 18, biopharmaceutical company BridgeBio Pharma announced that it had secured funding from Blue Owl Capital and the Canada Pension Plan Investment Board through its subsidiary CPPIB Credit Investment, bringing BridgeBio's total financing to $1.25 billion (approximately 8.6 billion yuan).

With this financing, BridgeBio will have sufficient funds to launch into 2024.TreatmentMedications for Transthyretin Amyloid Cardiomyopathy (ATTR-CM)Acoramidis, and continue to accelerate its industry-leading gene drug R&D engine.If the drug receives FDA approval, it will compete with Pfizer's Vynamax and Vyndaquel (currently the only two ATR-CM drugs).

Currently, the company has over 15 candidate products ranging from early discovery to late-stage clinical development, covering disease areas such as cardiorenal diseases, Mendelian diseases, and cancer. Among them, two products are already in the commercialization stage, and four candidate products, including Acoramidis, are in Phase 3 clinical trials.

7. Anlong Biotech Completes Tens of Millions in A+ Round Financing, Advancing AAV Gene Product Pipeline and Small Nucleic Acid Innovative Drug Development

2024On January 23, Anlong Biotechnology announced that it had successfully completed a multi-million-dollar A+ round of financing in January this year. This round of financing was jointly invested by Taikun Fund and Shunchuang Industry Investment Management Fund.This round of financing is planned to be used for advancing the clinical trials of AL-001, an AAV gene therapy product under Anlong Biotech, as well as the research and development of innovative small nucleic acid drugs.Since its establishment, Anlong Biotech has received investments of hundreds of millions of yuan from multiple medical capital firms. The success of this financing round marks significant progress in Anlong Biotech's research, production, and clinical development of gene drugs, earning recognition and trust from investors.

Anlong Biotech firmly believes that gene drugs are the next wave in the biopharmaceutical field and has made extensive investments in this area. AL-001 Ophthalmic Injection, an AAV gene therapy drug independently developed by the company, received clinical trial approval from the CDE in April 2023 and successfully completed the first dosing of a subject in September 2023. The product's indication is age-related macular degeneration (wet form).In additionAnlong Biotech's continuous expansion in the small nucleic acid field has made it the most suitable partner for traditional pharmaceutical companies. The successful collaborations with listed companies Kaiyin Technology and Salubris have further matured its technology platform in the small nucleic acid sector, boosting its confidence to engage in more partnerships with enterprises both in China and abroad.

8. Nuregen Bio completes multi-million yuan pre-A round financing, focusing on innovative gene therapy for neural in situ transdifferentiation

On January 5, 2024, Newron Bio announced that it had completed a Pre-A round of financing worth tens of millions of yuan in December 2023. This round of financing was led by Shanghai Science and Technology Venture Capital Co., Ltd., with participation from Wuhan Baiying, Shanghai Sinan Park Science, and Shanghai Biomedical Public Technology Service Co., Ltd. among other institutions. The founding shareholders of Newron Bio (including the core team) also strategically increased their investment. This round of financing will be used to further accelerate the company's research and development progress and team building efforts.

Currently, the product pipeline of Newron Biotechnology focuses on neurological diseases, primarily targeting blinding eye diseases and difficult-to-treat neurological tumors by developing original gene therapy drugs with independent intellectual property rights. It is rapidly expanding into major neurodegenerative diseases. In the future, there is still great potential to expand into broader areas such as regenerative therapy, cancer treatment, and the emerging field of anti-aging.

9. Ultragenyx Raises Over 300 Million Yuan in Series A Financing to Advance AAV Gene Therapy for Alzheimer's Disease

2024On January 9, foreign media reported that Amlogenyx, a subsidiary spun off by Ultragenyx Pharmaceutical (Ultragenyx), is about to complete a $50 million (equivalent to nearly 360 million yuan) Series A financing round. To date, most of the expected financing has been completed.

Amlogenyx is a novel gene therapy developer and a subsidiary spun off from Ultragenyx Pharmaceutical. It focuses on developing new gene therapies for Alzheimer's disease based on the lysosomal pathway.Currently, Ultragenyx has five products on the market and has established a diversified pipeline of therapeutic candidates aimed at addressing unmet medical needs.

R&D Pipeline

Reference: Announcements from various companies