October CGT Financing Roundup: Jingyin Pharma, Lingtaike Bio, and Nuowei Bio Secure Significant Funding

Oct 29, 2023 09:00 CST Updated 09:00

Sirius Therapeutics

Oligonucleotide Drug Developer

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A research report by EY pointed out that since 2020, more than 30 biotechnology companies have applied for bankruptcy, and more than half of the emerging listed companies it tracked have insufficient cash on hand to last for two years. However, even in this downturn, several cell and gene therapy (CGT) companies (including cell therapy, gene therapy, and RNA therapy) have gone against the trend this year, securing substantial financing. So, which companiesCGTHas the company secured financing?

Sirius Therapeutics

October 16, Sirius TherapeuticsCompleted a $60 million Series B financing round，To advance the clinical development of its siRNA novel therapy pipeline and the iterative innovation of next-generation nucleic acid molecule delivery technology.This round of financing was led by H&K Capital, with participation from Concord Global Investment Fund, Aob Capital, and Hongyuan Capital.The company has cumulatively raised nearly 100 million US dollars in financing so far.。

Product Pipeline

Sirius Therapeutics is an internationally innovative biotechnology company,Focus on the Development of Next-Generation Nucleic Acid Innovative Therapies in the Field of Cardiovascular Diseases，The company owns independent intellectual property rights.The core technology platform for the development of small nucleic acid drugs, and has built multiple product pipelines with differentiated global competitive advantages, including first-in-class and best-in-class.

Lingtek Bio

On October 26, Chengdu lncTAC Biotechnology Co., Ltd. (lncTAC, Lingtaik Biotechnology) completed a Pre-A round of financing worth hundreds of millions of yuan. This round of financing was led by Legend Capital, with participation from a subsidiary of China Medical System Holdings Limited (00867.hk), Huoying Haoyue, and Chengdu Guosheng Capital.

Company R&D Pipeline

The company focuses on the research and development of innovative nucleic acid drugs based on lncRNA. Currently, Lingtaik Biotechnology has built a stable nucleic acid drug platform and an extrhepatic targeted delivery platform with complete intellectual property rights. Research data demonstrates that these platforms surpass traditional nucleic acid delivery carriers in terms of delivery efficiency, safety, dosage requirements, and organ targeting.

Nuowei Biotechnology

On October 23, Novocodon Biotech announced the completion of a 50 million yuan pre-B round of financing. This round of financing was jointly invested by Xintou Jingshi and Focus Fund. The funds raised will be used to accelerate the clinical research of Novocodon Biotech's anti-tumor nucleic acid new drugs developed based on the STARi platform, expand the professional team, and develop a globally pioneering disruptive anti-tumor new drug pipeline.

STARi Platform

Cell Therapy Platform

Nuowei Biotech focuses on early cancer treatment, dedicating to the research and development of immunotherapy and First-in-Class gene therapy Class 1 new drugs with complete independent intellectual property rights. It has jointly built a core technology platform: STARi (Super Targeting Activated Response of immunization, super-targeted activation of T-cell immune response) nucleic acid drug development platform, which adopts the strategy of linking chemokines to enhance targeted T-cell immunity, aiming to develop a new generation of cancer vaccines and a new generation of antiviral drugs.

Summary

The global CGT industry market size has been growing rapidly since 2016, and the market size of China's CGT industry will also expand quickly against the backdrop of favorable policies and increased R&D investment.

From 2016 to 2020, the CGT market in China grew from 0.02 billion USD to 0.03 billion USD, with a compound annual growth rate (CAGR) of 12%. It is predicted that the CGT market size in China will maintain a rapid growth trend in the future, reaching 2.59 billion USD by 2025, with an estimated CAGR of 276% from 2020 to 2025.