Shengen Bio Secures Nearly RMB 600 Million in Series A+ Financing Led by Tencent Investment and Yuansheng Venture Capital

Dec 01, 2023 08:25 CST Updated 08:25

SANEGENEBIO

Small Nucleic Acid Drug Developer

Recently, SANEGENEBIO announced the completion of over 80 million US dollars (Nearly 600 million RMB) in its A+ round of financing. This round was led by Tencent Investment and Origin Capital, with participation from Northern Light Venture Capital, C&D Emerging Investment, Oriza Holdings, Shanghai Biomedical Industry Fund, Shenzhen Capital Group, and Teda Science & Technology Investment, among other institutions. Existing shareholders, including Qiming Venture Partners, Yahu Investment, K2VC, TF Capital, and Lingang Blue Bay Capital, continued to support the company. The funds raised from this round willMainly used to accelerate the company's IND applications and clinical trials for drug pipelines targeting cardiovascular and metabolic diseases, immune-mediated diseases, etc., as well as to advance the construction of liver-targeted delivery platforms and drug development.。

To date, SANEGENEBIO has secured over $130 million in cumulative funding across three rounds. In previous financing rounds, SANEGENEBIO received support from well-known investment firms such as K2VC, GL Ventures (Hillhouse Venture), Qiming Venture Partners, TF Capital, Yahu Investment, Lingang Blue Bay Capital, and Lanhu Capital.

SANEGENEBIO, founded in 2021 by a team of seasoned scientists in the field of nucleic acid drugs, is committed to developing novel RNAi therapies. The company's core team has accumulated years of professional expertise and successful experience in large pharmaceutical and biotech companies. Shortly after its establishment, SANEGENEBIO rapidly built proprietary nucleic acid drug chemical modification and intrahepatic/extrahepatic delivery technology platforms. Based on the LEAD™ (Ligand and Enhancer Assisted Delivery) platform, the company has established multiple drug pipelines targeting cardiovascular and metabolic diseases, immune-mediated diseases, and neurological disorders. Among them, SGB-3403, a Class 1 new drug for treating hypercholesterolemia, has entered clinical trials in both China and Australia. One product has submitted an IND application in Australia, two products are in the IND-enabling stage, and other pipelines are advancing simultaneously. SANEGENEBIO has also applied for comprehensive patent protection around its delivery platforms, chemical modifications, target sequences, and candidate drug molecules, establishing a strong technical barrier.

Founder and Chief Executive Officer of SANEGENEBIODr. Weimin WangIndicates:

"This round of financing is of great significance to the development of SANEGENEBIO. We are very grateful for the recognition and support from numerous investors. This financing will help us rapidly advance the clinical progress and internationalization of our core pipeline, strengthen the core competitiveness of our existing platform, and develop new leading technologies to address unmet clinical needs. Our goal is to bring safe, effective, and accessible RNAi innovative therapies to patients worldwide at an earlier stage."

Series A+ Leading Investment InstitutionYuansheng Venture CapitalRepresentation:

"Small nucleic acid drugs are one of the most highly regarded innovative therapies in the biopharmaceutical field in recent years, with broad application prospects. Relying on the team's deep expertise in nucleic acid drug development technology and efficient execution, SANEGENEBIO has rapidly established a comprehensive RNAi drug research and development platform and built a rich product pipeline, accelerating the development of RNAi drugs with innovative and differentiated competitive advantages. YuanSheng Ventures recognizes SANEGENEBIO's growth potential in the RNAi field and hopes to support the company in advancing its new drug pipeline into clinical stages, bringing patients solutions with better efficacy and accessibility as soon as possible."

Northern Light Venture CapitalRepresentation:

"RNAi technology has experienced 17 years of ups and downs since winning the Nobel Prize in 2006. Finally, in the past five years, six RNAi drugs have been successively launched, expanding from rare diseases to common major diseases, making it one of the few investment tracks in the biotech pharmaceuticals field that combines certainty and explosiveness. The founding team of SANEGENEBIO has extensive R&D experience in the small nucleic acid drug field, with over 20 years of work experience at several top international small nucleic acid drug companies, to which they have made key contributions. We believe that under the leadership of this excellent team, SANEGENEBIO will quickly grow into an industry leader on par with international standards."

Perilous Peak Flag CloudIndicates:

"It is a great honor to have led the early investment in SANEGENEBIO since its inception, and we are pleased to continue our deep involvement and support the company in completing this round of financing. We have witnessed SANEGENEBIO's growth and expansion along the way, and have always believed in the company’s R&D capabilities, execution efficiency, and pipeline strategy. We look forward to SANEGENEBIO becoming a leader in the RNAi field and will continue to support the company’s development."

GL VenturesIndicates:

"RNA drugs have developed rapidly in recent years, with several siRNA, ASO, and other small nucleic acid therapies successively approved for marketing, showing vast market potential and upward growth. The founding team of SANEGENEBIO has been deeply engaged in the small nucleic acid field for many years, possessing world-class R&D experience and technical expertise. Currently, the company has established an efficient pipeline R&D platform, and its first liver-targeting RNAi drug has been approved to enter clinical trials. Meanwhile, SANEGENEBIO is also heavily investing in the development of extrahepatic delivery systems for small nucleic acids, achieving positive results in multiple target organs, which could unlock broader disease treatment areas and address significant unmet clinical needs."

Sidley Austin LLP served as legal counsel to SANEGENEBIO in this round of financing.

About Tencent Investment

Tencent Investment, established in 2008, is one of Tencent Group's investment arms and core strategic departments, leading the group’s investment-related businesses. Tencent has long been dedicated to investments related to consumer internet and industrial internet globally, focusing on areas such as entertainment and media, consumer retail, livelihood education, financial technology, enterprise services, and overseas investments, exploring cutting-edge innovations and future possibilities. Over the past decade, Tencent Investment has invested in more than 800 companies, including over a hundred listed companies and unicorn enterprises, across more than twenty countries and regions worldwide, committed to discovering entrepreneurs and companies that provide long-term value to users and helping them grow.

About YuanSheng Ventures

Oriza Ventures is an investment institution focused on the early and growth-stage healthcare sector, based in Suzhou BioBAY with a global reach. To date, it has completed investments in over 180 outstanding enterprises in the life sciences and healthcare field, spanning four key areas: novel drug development, medical devices, in vitro diagnostics and precision medicine, as well as healthcare services, achieving substantial investment returns. Among these, 19 companies have gone public on capital markets such as the Hong Kong Stock Exchange and STAR Market. Oriza Ventures has been repeatedly recognized as one of the Top 10 venture capital funds in China's healthcare sector and one of the most active healthcare investment institutions in China. With a team of seasoned professional investors and a world-class scientific advisory board, Oriza Ventures possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry. Leveraging its expertise, focus, and rich industry resources, we are committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.

About Northern Light Venture Capital

Northern Light Venture Capital was founded by Mr. Deng Feng in 2005. It is a venture capital firm with the mission of "building world-class Chinese entrepreneurs and nurturing world-class Chinese enterprises." Currently, it manages six USD funds and four RMB funds, with assets under management exceeding 30 billion yuan. It focuses on investing in early-stage, technology-driven innovative companies and has invested in the fields of new technology, healthcare, and new consumerism.Invested in more than 400 outstanding enterprises, emphasizing "team, market, innovation," and growing together with the enterprises.。

About C&D Emerging Investment

C&D Emerging Investment is a professional equity asset management institution under the "Fortune Global 500" C&D Group, established in 2014. With the mission of "creating new value and helping more emerging enterprises achieve better development," the company focuses on new economic sectors such as healthcare, advanced manufacturing, TMT/consumer goods.

About Yuanhe Holdings

Yuanhe Holdings is a state-owned investment holding company managing funds with a scale exceeding 100 billion yuan. Its businesses cover three main segments: equity investment, debt financing, and investment and financing services. It consistently provides growth momentum for technology innovation enterprises and strives to become the preferred capital service brand for entrepreneurs.

About Shanghai Biopharmaceutical Fund

The Shanghai Biopharmaceutical Fund, approved by the Shanghai Municipal People's Government, is a municipal industrial fund with a total target management scale of RMB 500 billion, initiated and established by the Shanghai Industrial Group. The fund will leverage Shanghai's comprehensive advantages in developing the biopharmaceutical industry and rely on industrial resources to create an innovative investment platform in the biopharmaceutical field that is "based in Shanghai and Hong Kong, linked with the Yangtze River Delta, and oriented towards the globe." By combining financial capital with industrial resources and integrating domestic and overseas operations, the fund will focus on key areas that align with Shanghai's biopharmaceutical industry development strategy, including high-end biologics, innovative chemical drugs and formulations, advanced medical devices and diagnostics, and innovative business models in healthcare.

About Shenzhen Capital Group

Shenzhen Capital Group Co., Ltd. ("SCGC") was established in 1999 by the Shenzhen Municipal Government with capital contributions and guidance from social capital. With the mission of discovering and building great enterprises, SCGC is committed to being an explorer and nurturer of innovative value. It has grown into a comprehensive investment group centered on venture capital, managing various funds totaling approximately 465.8 billion yuan. SCGC has consistently ranked among the top in comprehensive rankings of venture capital institutions conducted by authoritative organizations such as the China Venture Capital Association, Zero2IPO Group, and CVSource. From 2016 to 2022, SCGC ranked first among local venture capital institutions in Zero2IPO’s annual selection of Chinese venture capital institutions. In its venture capital business segment, SCGC primarily invests in small and medium-sized enterprises, self-innovating high-tech enterprises, and emerging industry enterprises, and has invested in and helped 262 companies achieve public listings.

About Teda Science and Technology Investment

Teda Science and Technology Investment was established in October 2000, with a registered capital of 1.686 billion yuan and a management scale exceeding 10 billion yuan. As one of the first professional venture capital institutions in China, after more than two decades of continuous development and accumulation, it has grown into a comprehensive venture capital group engaged in the controlling operation of listed companies, the management services of social funds, and investment across China. Its investment areas include healthcare, semiconductors, information technology, intelligent manufacturing, and more.

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