Genocury Secures Tens of Millions in Angel Funding to Advance Development of Off-the-Shelf Cell Therapies

VCBeat learned at the first time,Jiyin Bio announces completion of multi-million yuan angel round financing. This round of financing was led by Yifeng Capital, with co-investments from HCH Ventures, Shenzhen High-Tech Investment, and Qianhai Honghui Holdings.It is reported that the funds from this round of financing will be used to accelerate the development of the universal cell therapy pipeline.And further absorbCore members with rich experience in the cell and gene therapy field。

Jiyin Bio was founded in 2021 as an innovative company dedicated to providing affordable cell therapy drugs for patients. Jiyin develops universal cell therapies for various indications based on proprietary technology platforms such as in vivo CAR-T and iPSC.Currently, JiYin has built a 1,400-square-meter R&D and GMP-compliant workshop, including a B-grade cell production workshop, which can meet the production needs for IND and clinical stages. The core team members of JiYin have nearly a decade of experience in the research and development and industrialization of cell and gene drugs, covering all aspects such as basic research, process development, quality (QA/QC), regulatory submissions, and drug reviews.

As a highly anticipated therapy in the field of oncology, cell therapy has shown a flourishing trend of development in recent years. In addition to the relatively mature autologous CAR-T technology, universal cell therapies such as UCAR-T, CAR-NK, iPSC-derived CAR-iNK, and in vivo CAR-T have brought more potential treatment options to patients.

As one of the few innovative biotechs in China that focuses on inclusive and versatile cell therapy drugs, what unique insights does JiinBio have in this field? VCBeat's New Medicine interviewed JiinBio at the first opportunity.

For autologous CAR-T, which now has multiple products approved and on the market, its excellent efficacy is undeniable, but it also faces issues such as an overly long preparation cycle and high costs. In response to this, the emergence of universal cell therapies aims to address the challenges faced by autologous CAR-T through technological iteration, offering promising solutions.

In the view of Jiyin Bio, the core key point of universal cell therapy is to reduce costs and increase efficiency.

At present, universal cell therapies are divided into two categories: one is allogeneic universal cell therapy, mainly represented by UCAR-T, CAR-NK, and CAR-iNK; the other is autologous universal cell therapy, primarily represented by in vivo CAR-T. These therapies are all under exploration, each with its own strengths.

Among them, UCAR-T is the earliest universal cell therapy. It typically involves knocking out the T-cell receptor complex (TCR) and other molecules from healthy donor-derived T cells, allowing the cell preparation to be universally applicable to different individuals. This enables the production of dozens or even hundreds of universal cell products from a single apheresis blood sample, effectively reducing production costs. However, due to the high difficulty of process development, the R&D of UCAR-T has encountered numerous setbacks and challenges, with better clinical outcomes only observed in the past two years.

CAR-NK, as a cell therapy that has emerged in the past two years, has also gained significant attention. In 2020, it was first reported by the MD Anderson Cancer Center at the University of Texas, USA, where CAR-NK derived from umbilical cord blood was applied to lymphoma treatment. Among 11 patients, 8 responded (response rate, 73%), and 7 achieved complete response (CR, 63%), with efficacy close to that of the similar type of CAR-T. Meanwhile, since NK cells can be significantly expanded and used allogeneically, theoretically dozens of universal CAR-NK therapeutic products can be prepared from a single apheresis sample, thereby reducing costs. Currently, many companies in China and abroad are developing CAR-NK derived from umbilical cord blood and peripheral blood, and promising clinical data continues to emerge.

At the same time, Fate Therapeutics, the leading company in CAR-iNK, has advanced its iPS-derived CAR-iNK therapy into Phase I clinical trials. The data shows that out of 26 patients treated with FT596, 18 (69%) achieved objective remission, including 12 (46%) who achieved complete remission (CR). Since iPS cells can theoretically proliferate infinitely, and CAR-iNK cells can be directly differentiated from iPS, this approach effectively addresses the issue of cell sourcing and allows for the one-time, large-scale production of hundreds or even thousands of doses of CAR-iNK therapeutic products. Additionally, due to the lower differentiation costs, it successfully meets the core demand of cost reduction.

Based on observations of the development of cell therapy over the years, JiinBio believes that although the aforementioned allogeneic universal cell therapies can achieve cost reduction, there is still room for improvement in terms of "efficacy enhancement."The main reason lies in“Allogeneic Universal Cell Therapy ProductsIn patientsPersistence Period in the BodyMore"Short, making it difficult to effectively inhibit the growth of target cells such as tumors over the long term."

So, can autologous cell therapies represented by in vivo CAR-T balance cost reduction with improved efficiency? "We believe that in vivo CAR-T has the potential to become a highly disruptive technology in the field of cancer treatment," Jiyin Biotech explained. "The reason is that,In vivo CAR-T does not require genetic engineering modification of T cells outside the body. It can deliver CAR molecules into the patient's T cells through vectors such as lentivirus or LNP, directly preparing CAR-T cells. This technology not only addresses the complex manufacturing process issues of current CAR-T therapies, reducing the high cost, but also preserves the killing activity of non-activated T cells, achieving a win-win situation of cost reduction and efficiency improvement.”

Based on a profound understanding of cell therapy and the R&D and industrialization experience accumulated by the founding team over the years, Jiinno Biotech has made a long-term and cutting-edge layout in its technology platform and product pipeline.

Guided by the underlying logic of cost reduction and efficiency enhancement, Jiyin Bio believes that different product pipelines will be suitable for different indications. Therefore, when planning its product pipeline, Jiyin Bio did not limit itself to a single universal cell therapy. Instead, based on addressing the pain points of various therapies, it has built technology platforms for iPS-derived CAR-iNK, in vivo CAR-T, and other therapies to iterate and innovate across different treatment modalities.

Currently,The fastest progressing product in JiYin Bio's pipeline is in vivo CAR-T.The difficulty in developing CAR-T therapies lies in precise targeting.Resting StateTCell. TargetingAboveDifficult points, "JiyinBiologyTwo key points have been connected.Technically DifficultPoint：The first is precision targeting,We have independently developed a set of patented targeted delivery technology that can precisely deliver carriers to T cells.；The second is the transduction of resting T cells. By utilizing the company's proprietary technology, we are able to effectively infect non-proliferating T cells.In this way, it is no longer necessary to pre-activate T cells, and it is expected to solve the problem of T cell exhaustion, enhancing their sustained killing ability." Currently, research on in vivo CAR-T in China and abroadThe research is still in its infancy., opportunities and challenges coexist, and the in vivo CAR-T technology developed by Jiin Bio has the potential to achieve a pioneering breakthrough in clinical applications.

With a rich technical reserve, Jiin Bio has unique insights into the selection of product indications. "We adhere to clinical efficacy as the guiding principle and choose the most suitable indications for each product pipeline based on their respective advantages and values. For example, the advantage of CAR-iNK is its high safety, which gives it a significant advantage in treating chronic diseases; in vivo CAR-T has strong lethality while also reducing costs and increasing efficiency, and will exert great potential in cancer treatment in the future."

For future planning,Jiyin Bio has currently completed the preclinical safety and efficacy evaluation of in vivo CAR-T technology, and is preparing to be the first to push in vivo CAR-T therapy into the clinical IIT stage.To observe its clinical efficacy. With the continuous validation of technology, Jiin Bio hopes to expand universal cell therapy into various treatment applications such as cancer and autoimmune diseases, benefiting more patients with different needs, and truly achieving the goal of providing accessible and affordable cellular immunotherapy products for the general public.

Zhou Qinyong, Managing Director of Efung Capital"It shows that JiinBio has demonstrated extremely strong key underlying source innovation capabilities in the field of next-generation universal gene and cell therapy. With high R&D efficiency, it has independently developed and improved two cutting-edge technology platforms: a targeted cell gene delivery platform (in vivo CAR-T) and an iPS-CAR-NK differentiation platform. The key leading pipelines have currently advanced to the preclinical stage, and we are particularly looking forward to JiinBio's upcoming clinical performance."

Qi Wei, Partner of HCC (HCC Partners)Stated: "As the seed round investor of Jiyin Biotechnology, we are pleasantly surprised to see the company achieve a series of progress that exceeded expectations. We highly recognize Jiyin's understanding and philosophy of innovation—only through continuous innovation can the greatest value be created. Jiyin Biotechnology’s unique in vivo cell therapy approach bypasses the complex and cumbersome ex vivo manufacturing process of genetically modified cells, directly transforming autologous cells into therapeutic cells within the patient’s body, making previously unfeasible treatments possible. We are thrilled to collaborate with Jiyin Biotechnology's outstanding team and hope to help them become an internationally leading gene and cell therapy company."

Zhang Hang, Investment Manager of Shenzhen High-Tech Investment Venture Capital CompanySaid: "Cell therapy, due to its remarkable therapeutic effects, is gradually being widely applied in diseases such as malignant tumors, autoimmune diseases, advanced liver cirrhosis, avascular necrosis of the femoral head, and myocardial infarction. With the support and advancement of policies, capital, and technological innovation, a group of outstanding companies in this field have emerged in China. The success of CAR-T therapy has shown humanity its great potential to cure cancer, but its high cost has deterred many patients. Both research institutes, medical institutions, and the vast number of patients hope for safer, off-the-shelf, and more affordable cell therapy products to come to market. The core team of JiYin Biotech possesses rich foundational research and industrialization experience, mastering cutting-edge gene delivery technology targeting cells globally, placing them among the leading teams in China. They have built technology platforms for therapies like in vivo CAR-T and iPS-derived CAR-NK, developing targeted pipelines for different indications, covering hematologic tumors, solid tumors, autoimmune diseases, and more, thereby enriching their product pipeline and future competitiveness. Driven by core technologies, the company focuses on developing inclusive, universal cell therapies guided by clinical needs, significantly reducing current treatment costs, and benefiting a wide range of patients."

Guan Shouyin, Partner of Qianhai Honghui HoldingsSaid: "The cell and gene therapy field has enormous potential, being a hotspot for competition among global pharmaceutical giants as well as a key area of focus for domestic institutions. JiYin Bio is positioned in an opportune space full of possibilities, but it also faces greater challenges. Between the comprehensive and differentiated advantages of its peers, JiYin possesses globally competitive in vivo CAR-T technology and CAR-iNK technology, making it a pioneer of such technologies in China. The outcomes of professional analysis require vision and patience as levers to amplify results. JiYin Bio’s robust technical reserves, unique product insights, and diligent employees will serve as pivotal factors in achieving outstanding success. Effective remedies arise, with causes manifesting in effects!"

Yifeng Capital is one of the earliest professional investment institutions in the biopharmaceutical industry in China. Its investment team consists of a group of PhDs in biopharmaceuticals from top universities both domestically and internationally. Focusing on global biopharmaceutical VC/PE investments, Yifeng Capital has meticulously screened and invested in high-quality companies such as Chipscreen Biosciences, Frontier Biotechnologies, Ascentage Pharma, Pulnovo Medical, Harbour BioMed, Hoyo Biological, Athenex, 3D Medicines, Apexigen, and Centrexion. With outstanding investment performance and exceptional research capabilities, Yifeng Capital has been honored with awards such as the Zero2IPO · Top 30 Healthcare Investment Institutions in China.

HCC focuses on early-stage venture capital in the fields of electronic information (ICT) and healthcare, with a focus on investing in technology innovation enterprises, especially high-tech innovation enterprises that break through key "chokepoint" technologies. Guided by value investment, HCC has formed its own unique investment style in areas such as semiconductor chips, artificial intelligence, software and services, and medical devices. It has repeatedly been honored with awards such as ChinaVenture's "Top 100 Best Venture Capital Institutions in China," "Top 50 Best Domestic Venture Capital Institutions in China," "Top 30 Best Venture Capital Institutions in the Guangdong-Hong Kong-Macao Greater Bay Area," and "Top 20 Most Investment Potential Institutions in China."

Shenzhen High-Tech Investment Group (Shenzhen HIT) was established in 1994 as a professional financial services institution set up by the Shenzhen Municipal Party Committee and Government to address the financing difficulties of small and medium-sized technology enterprises. It holds the highest AAA credit rating in the capital market. Currently, the group has a paid-in capital of 13.8 billion yuan, net assets exceeding 23 billion yuan, and total assets nearing 42 billion yuan. Its business scope covers bank loan guarantees, engineering guarantees, bond credit enhancement, venture capital investment, fund management, micro-loans and pawnbroking, commercial factoring, and more. The group provides comprehensive investment and financing services for enterprises from their start-up phase to maturity. In the future, Shenzhen HIT will strive to become a top-tier financial services group in China with deep integration of industry and finance. On the main course of "financial services serving the real economy," it aims to uncover the value potential of technology enterprises, focus on customers, empower innovators, and contribute tirelessly to building Shenzhen into a pilot demonstration zone for socialism with Chinese characteristics and to constructing a world-leading science and technology power in China.

Shenzhen Qianhai Honghui Investment Holdings Co., Ltd. was established in 2015 by alumni of the Lingnan College at Sun Yat-sen University. Focused on venture capital investment, its main areas include healthcare, semiconductors, new energy, and more. The company upholds the "Red and Gray" spirit of the Lingnan College at Sun Yat-sen University, basing itself in Shenzhen, rooting itself in the Greater Bay Area, and radiating across all of China. By integrating resources from Sun Yat-sen University and the Greater Bay Area, Qianhai Honghui has gathered an outstanding investment team with extensive experience in entrepreneurship, venture capital, and corporate operations. With professional and pragmatic capabilities, a style of integrity and responsibility, and an attitude of mutual benefit and win-win outcomes, Qianhai Honghui is committed to steady and long-term progress, aspiring to become a highly respected investment institution in the Greater Bay Area. It has already completed investments in more than a dozen excellent companies, covering projects at different stages—early, mid, and late—and achieved relatively ideal returns.