12 Chinese Innovative Biopharma Companies Secure New Funding Rounds

Dec 30, 2023 08:31 CST Updated 08:31

SANEGENEBIO

Small Nucleic Acid Drug Developer

Innovo Therapeutics

Developer of Novel Anti-Cancer Drugs

▎WuXi AppTec Content Team Report

Public information shows that in the upcoming end of December, several more Chinese innovative drug R&D companies have announced new financing progress. By reviewing the financing information and product pipelines of these companies, we have identified the following characteristics:

In terms of financing rounds, early-stage financing still accounts for the majority.The proportion of financing rounds before Series B is approximately 58%.；
From the disclosed financing amount,Approximately 42% of companies raised over 100 million RMB in funding., among which two companies raised over 500 million RMB respectively.SANEGENEBIO (over 80 million USD),Anshi Biotechnology (1 billion yuan)；
In terms of the types of drugs studied, the products developed by these companiesIncluding RNAi therapy, molecular glue, proteolysis-targeting chimeras, inhaled nanobodiesAnd many other new molecular types.

Note:This table was compiled by "MedView" based on publicly available information and is an incomplete statistic.Statistical Period:2023/12/1-2023/12/29。If there are any omissions, please feel free to supplement.

The following is a sharing of 12 based on publicly available information.HomeBasic Information of Emerging Companies: Explore Which Patients Their Innovative Therapies Are Expected to Benefit in the Future.

SANEGENEBIO

Established: 2021

Financing Round: A+ Round

News on December 1st,SANEGENEBIOCompleted by SANEGENEBIOOver USD 80 Million in Series A+ Financing, this round of financing was led byTencent Investment, YuanSheng Venture CapitalLead Investment, followed by investments from Northern Light Venture Capital, C&D Emerging Investment, Oriza Holdings, Shanghai Biomedical Industry Fund, Shenzhen Capital Group, and Teda Science & Technology Investment. Existing shareholders Qiming Venture Partners, Yahu Investment, K2VC, TF Capital, and Lingang Blue Bay Capital continued their support. Thus far, SANEGENEBIO has secured over $130 million across three rounds of financing.

SANEGENEBIO was founded in 2021.Dedicated to Developing Novel RNAi TherapiesThe founder and Chief Executive Officer (CEO) of the company is Dr. Wang Weimin. Currently,SANEGENEBIOSANEGENEBIO has developed multiple drug pipelines, covering therapeutic areas.Cardiovascular and Metabolic Diseases, Immune-Mediated Diseases, Neurological Disorders, etc. Among them, the Class 1 new drug SGB-3403 for treating hypercholesterolemia has entered the clinical trial stage in both China and Australia, and one product has alreadySubmissionIND application, two products are in the IND-enabling stage.

MediPromise

Established: 2021

Financing Round: Pre-A Round

December 1 news: Innovo Therapeutics completesPre-A Round Financing of Nearly 100 Million RMB. This round of financing was led byJoaquin Investment Leads the Round, QianDao Fund, Hainan Longmen Fund, and Zhongjin Ce Investment followed up with investments, while the original shareholder Juming Venture Capital increased its investment. Medinol was founded in 2021 and focuses on addressing unmet clinical needs through innovative multi-target protein degradation platforms for novel targets. The company was founded by Dr. Weilin Xie. According to a press release from Medinol,The company is advancing the development of research pipelines such as molecular glues and proteolysis-targeting chimeras (PROTACs).It is expected that the first IND application will be officially submitted in 2024.

Rongcan Bio

Established: 2020

Financing Round: Series A

December 6th, SANEGENEBIOCompleted Over RMB 100 Million in Series A Financing. This round of financing was led byYuexiu Industrial Fund Leads Investment, followed by investments from Shantou Growth Fund, Zhangjiagang Jintai Jinhong Fund, and Huafang Capital. RCBIO was founded in June 2020,Dedicated to the development and industrialization of gene (nucleic acid) drugsAccording to the Rongcan Biotech's official website, the mRNA nano-carrier delivery system developed by the company can achieve lung, liver, and blood vessel targeted delivery. Rongcan Biotech has currently developed several mRNA candidate drugs. It is reported that this round of financing will be used to accelerate Rongcan Biotech's product research and development and team building, and to advance the leading pipeline into clinical research.

BAYHEAL BIO

Established: 2013

Financing Round: C1 Round

News on December 14: Beihai Biotech Completes C1 Round Financing. This round of financingJointly invested by Hengguan Investment and Zhongying InvestmentSANEGENEBIO was founded in 2013 by Dr. Sun Qun. The company is committed to developing innovative oncology drugs that address unmet clinical needs, with a patient-centered approach.EyePreviously, a research and development pipeline containing more than 10 innovative drugs has been developed, and 9 new drug clinical trial approvals (IND) have been obtained in China and the United States.. Among them, the development by Beihai BioBH009, an innovative docetaxel product without Tween 80, has submitted a New Drug Application (NDA) to the U.S. FDA.It is reported that the proceeds from this round of financing will be mainly used to promote the commercialization process of BH009 and the clinical trial progress of several core products.

Eureka Pharma

Established: 2018

Financing Round: A+ Round

News on December 18, EIRAY PHARMACEUTICALSCompleted tens of millions of yuan in Series A+ financing, this round of financing was led byTAIKUN Fund Leads the InvestmentBeijing Tianfeng Capital, Hangzhou Shenghui Investment and other funds followed up. SANEGENEBIO was founded in 2018,Focus on Small Molecule Innovative Targeted Drug DevelopmentThe founder of the company is Dr. Xiaolu Wang. The company's research areas cover indications such as autoimmune diseases, diabetic complications, and chronic inflammatory diseases. It is reported that the proceeds from this round of financing will be used to accelerate the advancement of the U.S. Phase 2 clinical trial of the innovative drug YR-001 for the treatment of autoimmune skin diseases, as well as the preclinical and early clinical development of other projects.

Blood霁Bio

Established: 2021

Financing Round: First Close of A1 Round

News on December 19, Xueji Bio announcedCompleted the first closing of Series A1 financingClose. This round of financingLed by Zhongbo Julin and Guoxin Chuangxin Equity, invested by Suzhou Industrial Park Science and Technology Innovation Fund and Youth Innovation Fund, with existing shareholder CDH Investments continuing to increase capital. Blood霁 Bio was founded in 2021, with Dr. Zhu Fangfang as the founder. The company's core underlying technology is platelet regeneration, and breakthroughs in this technology can enable multi-dimensional applications centered around induced platelets, covering fields such as blood transfusion, oncology, platelet-related diseases, sports medicine, medical aesthetics, and anti-aging. It is reported that,This round of fundraising will be mainly used to advance the IND applications for SANEGENEBIO's three platelet-related pipelines., supporting the completion of various stages of preclinical research, as well asSimultaneously promoting the industrialization of multiple sectors including platelet drug delivery and platelet lysate.。

Luoqi Bio

Established: 2017

Financing Round: Series B

News on December 20, LOQI BioCompleted Over 100 Million RMB in Series B Financing, this round of financing was led byShengdi Investment, a professional equity investment institution under Hengrui Medicine, led the investment., the original shareholder Chengdu BioCity Fund (Guosheng Capital) increased its follow-up investment. Luoqi Biotech was founded in 2017 and focuses on the research and development of inhalable nanobody drugs. The company's founder and CEO is Dr. Yaku Wan.

As of October 2023,Lokiv Biosciences has developed dozens of nanobody drugs, covering fields such as respiratory system, anti-infection, ophthalmology, and oncology.It is reported that one of the main uses of this round of funding is for Phase 2 clinical research of two inhaled antibody drugs, LQ036 and LQ043, developed by Luoqi Bio, where:LQ036 is a recombinant anti-IL-4Rα single-domain antibody nebulizer solution., intended for the development of treatments for moderate to severe asthma and moderate to severe chronic obstructive pulmonary disease (COPD);LQ043 Nebulization Solution is an Inhaled Nanobody Drug Targeting TSLP, intended for development to treat broad-spectrum moderate to severe asthma and COPD.

Sailan Pharmaceuticals

Established: 2019

Financing Round: A+ Round

News on December 25, CELLCROSS Pharma has recentlyCompleted nearly 100 million yuan in Series A+ financing. This round of financingBy Fortune Venture Capital FundAndHangzhou and HeDa Fund Co-Lead Investment. Celgene Pharmaceuticals was founded in 2019,Focus on the Field of Next-Generation Epigenetic Treatment Technologies, the founder and CEO of the company isDr. Haiping WuCurrently, SinoEpimed has developed several candidate drugs, including: CTS2190 capsules, a potential "first-in-class" anti-tumor candidate drug based on the next-generation epigenetic mechanism, which has been approved for clinical trials in China and the United States; CTS2016, an oral, specific, small-molecule inhibitor targeting key tumor pathways, which has been approved for clinical trials in China; and a new generation of PRMT5-MTA complex inhibitors, which are expected to enter Phase 1 clinical trials in 2024.

TONGYORK PHARMACEUTICAL

Established: 2017

Financing Round: Series D

December 28, news: Tongyuan Kang MedicineCompleted nearly 200 million RMB in Series D financingThis round of financing was led by Huiyu Pharmaceutical, with participation from funds under CICC Capital, Changxing Financial Control, and Huzhou Talent Fund. Tongyuan Kang Medicine was established in November 2017.Focus on the development of small molecule anti-tumor innovative drugsCurrently, the company has established a product pipeline including multiple candidate drugs. Among them:The Third Generation EGFR Inhibitor TY-9591Has entered Phase 2/3ClinicalTest;CDK4/6 Inhibitor TY-302Has entered Phase 2ClinicalTest；A New Generation of ROS1/NTRK/ALK Multi-Target Small-Spectrum Tyrosine Kinase Inhibitor TY-2136bPhase 1 has been initiated in the United States.ClinicalThe trial has been granted Orphan Drug Designation by the FDA. Meanwhile, the company's subsequent drugs targeting RET, CDK7, CDK2/4/6, Exon20, etc., have also completed IND applications in both China and the U.S.

Anshi Biotechnology

Established: 2018

Financing Round: Series B

News on December 28, Anshi BiotechnologyCompleted a RMB 1 billion Series B financing round. This round of financingBy SDIC CapitalAndIDG Capital Co-Leads Investment, Yanchuang Group and Cathay Fund followed up on the investment, with existing shareholder Bain Capital continuing to increase its investment. SinoStone BioTechnologyIt is an innovative pharmaceutical company primarily focused on oncology. The company aims to develop innovative drugs that can overcome the limitations of existing therapies, allowing patients to benefit in the long term through optimized target selectivity and drug blood-brain barrier penetration.

November 2023, ANSHI BIOTechnologyA Class 1 new drug developed by the subsidiary Pulrun BioBoeritinib Enteric-Coated Capsules Approved for Marketing by NMPA, used to treat those with mesenchymal-epithelial transition factor (MET) Exon 14 skipping in locally advanced or metastaticNon-Small Cell Lung Cancer (NSCLC)Patient. The second indication for Bo Ruitini (Beritinib) has also been accepted by the NMPA and included in the priority review, intended for use in patients with recurrence or intolerance after radiotherapy and temozolomide treatment.PTPRZ1-MET（ZM）Fusion Gene Isocitrate Dehydrogenase (IDH) Mutation TypeWHO Grade 4 AstrocytomaOr a history of lower-grade diseaseAdult patients with glioblastomaIn addition, the company has also developed EGFR small molecule inhibitor Andatinib and type II MET inhibitor ANS01, both of which are currently undergoing clinical trials in China and the United States.

Huasai Berman

Established: 2019

Financing Round: Series A

News on December 28, Huasai Berman announced that it had previouslyCompleted tens of millions of yuan in Series A financing, This round led byLetone Capital, North Bank Investment Institution Invest.Huasai Berman was founded in March 2019. The company mainly starts from unmet clinical needs and is committed to developing innovative cell drugs.Focus on Developing TIL Cell Drugs for Solid TumorsThe first Class 1 new TIL cell drug HS-IT101 injection developed by Huasai Berman has received the tacit approval for clinical trials from NMPA and is planned to be developed for the treatment of advanced solid tumors. In addition, the company has also developed genetically modified super TIL products HS-IT201 and HS-IT301.

Fukang Pharmaceutical

Established: 2015

Financing Round: First Close of Series C Financing

News on December 29, Fu Kang Pharmaceutical announcedCompleted the first close of Series C financing exceeding 100 million yuan. This round of financing was led byXicheng Zhiyuan Private Equity Fund Management (Beijing) Co., Ltd.And existing shareholders, other investment institutions, and well-known publicly listed companies participated. FuKang Pharma is committed to developing innovative drugs in the fields of oncology, virology, and age-related diseases. The company'sThe oncology pipeline includes the second-generation PARP inhibitor CVL218, the PI3K β/δ dual highly selective inhibitor CVL237, innovative bispecific antibodies, and more.，Covering solid tumors and hematological tumors such as breast cancer, lung cancer, cholangiocarcinoma, prostate cancer, pancreatic cancer, and gastric cancer.The company's viral product pipeline covers a variety of infectious diseases, including COVID-19, respiratory syncytial virus, monkeypox virus, and yellow fever virus. According to the press release from Phu Kang Pharmaceutical, the funds raised this time will be mainly used for the commercialization of key products that are about to be approved, accelerating the global development process of multiple innovative drug pipelines, and continuously improving the company’s R6D+AI new drug discovery platform (Right 6D combined with AI technology).

In addition to the aforementioned companies, other biopharmaceutical firms also announced completed financing rounds in December this year. Due to space limitations, this article will not introduce them one by one. It is hoped that, with the support of capital, these biopharmaceutical companies can accelerate the development progress of their drug candidates and bring new treatment options to patients as soon as possible.

References: (Swipe up and down to view)

[1] SANEGENEBIO Secures Nearly $100 Million in Series A+ Financing, Led by Tencent Investment and OrbiMed China | Advancing RNAi Drug Development. Retrieved Dec 01, 2023, from https://mp.weixin.qq.com/s/0Q6FIrCsKe5tHfG1oxbNRA
[2] Huace Biomann Completes Series A Financing and Receives Government Industrial Support, with Nearly 100 Million in Capital Injection Accelerating Enterprise Development. Retrieved Dec 28, 2023, from https://mp.weixin.qq.com/s/s83P8RJsrqPban7qZivy-g
[3] Saddlestone Biotech Completes RMB 1 Billion Series B Financing to Advance the Commercialization of Vanbirini® (Borotinib Enteric-Coated Capsules) and Oncology Drug Development. Retrieved Dec 28, 2023, from https://mp.weixin.qq.com/s/rQ89D2yS1_YN0vPb36zchA
[4] Epigenetic Track Leader, SAILAN BIO, Completes Nearly 100 Million Yuan A+ Round Financing, Led by Fortune Venture Capital and Hedda Fund. Retrieved Dec 25 2023, from https://mp.weixin.qq.com/s/PKecEzNg2a7OUFZa0B6y8w
[5] MedPromise Completes Nearly RMB 100 Million Pre-A Round Financing, Led by Huajin Investment, with HaoYue Capital as the Exclusive Financial Advisor | HaoYue.Deal. Retrieved Dec 1, 2023, from https://mp.weixin.qq.com/s/e0QUM1Ksb4EwQ-uFTPTGZA

[6] Platelet Cell Therapy Company Xueji Bio Completes First Close of A1 Round, Led by Zhongbo Juli. Retrieved Dec 19, 2023, from https://mp.weixin.qq.com/s/F0Fq-NHK5I35tFjjXqSg7w

[7] Tongyuan Kang Medicine Completes Nearly 200 Million RMB D-Round Financing, Led by Huiyu Pharmaceutical with Multiple Institutions Following. Retrieved Dec 28, 2023, from https://mp.weixin.qq.com/s/5d94hWq69SnwjHsud88FzQ

[8] SANEGENEBIO Completes Over 100 Million Yuan in Series A Financing, Receives Multiple Awards. Retrieved Dec 06, 2023, from https://mp.weixin.qq.com/s/h76LXTPRYK0R9QhKaY4_nw
[9] SANEGENEBIO, the world’s first inhalable nanobody company, completes over 100 million yuan in Series B financing. Retrieved Dec 20, 2023, from https://mp.weixin.qq.com/s/EP-WpVz8b-EgM6FpIFzZHg
[10] Beihai Bio Completes C1 Financing Round, Accelerating the Commercialization of BH009 and Development of Multiple Core Product Clinical Trials Retrieved Dec 14, 2023, from https://mp.weixin.qq.com/s/4rS-CZngGG12BN8nMO77vg

[11] COverseas RMB Financing Round Completed, FuKang Pharma Commercial Launch Begins, Dual-Engine Driving Empowers Acceleration . Retrieved Dec 29 2023, from https://mp.weixin.qq.com/s/I07ZyPyQNX2Iqm7XEz_rbw

This article is from the content team of WuXi AppTec. Individuals are welcome to share it on their social media feeds, but unauthorized reprints by media or organizations in any form to other platforms are prohibited. For reprint authorization, please contact us via a message on the "Pharma Observer" WeChat Official Account. For other collaboration inquiries, please contact wuxi_media@wuxiapptec.com.

Disclaimer: The content team of WuXi AppTec focuses on introducing the research progress in the global biopharmaceuticals and health industry. This article is intended solely for the purpose of information exchange. The views expressed in the article do not represent the position of WuXi AppTec, nor does it imply that WuXi AppTec supports or opposes these views. This article is not a recommendation for treatment plans. For guidance on treatment options, please visit a正规 hospital.