Molecular Axiom (Weizhe Moli) Completes Series A Financing and Files Preliminary IPO Prospectus; Founder Dr. Bohan Jin Highlights Nucleic Acid Drug Pipeline and Dual Technology Platforms

VCBeat learned第一时间 that Molecular Axiom has announced the completion of its Series A financing. This round of financing was led by Shenzhen Oriental Fortune Capital Co., Ltd., with participation from Healthcare Capital and Shanghai Ruihe Equity Investment Management Co., Ltd. It is reported that the funds from this round of financing will be used for preclinical development of multiple projects, including cancer and neurodegenerative diseases, to accelerate entry into Phase I clinical trials.

Molecular Axiom was founded in San Diego in 2021, focusing on nucleic acid drug discovery, clinical development, and commercialization. Its core strengths encompass multi-platform RNA technologies, including ASO, RNAi, mRNA, and drug delivery technologies such as LNP, with the aim of creating highly differentiated nucleic acid drugs targeting high-value biological targets to address significant unmet medical needs.

This is the first time that Molecular Axiom has actively disclosed its financing information to the public, and it is also a key step in Molecular Axiom's long-term strategic layout in the Chinese market.

What are the stories behind this company? VCBeat exclusively interviewed Dr. Bo Han Jin, the founder of Molecular Axiom, at the first opportunity.

Traditional small-molecule drugs and antibody drugs mostly function by binding to target proteins, but the development of both is limited by the druggability of the target proteins. According to Nature, the existing research and development model for large-molecule and small-molecule drugs is only applicable to less than 20% of biological targets, leaving the remaining 80% of targets inaccessible.Nucleic acid drugs have a broader range of applicable targets compared to traditional small-molecule and large-molecule drugs. As long as the base sequence of the target gene is known, the sequence design of nucleic acid drugs is relatively straightforward.

As of now, there are 14 small nucleic acid drugs that have been approved for marketing worldwide, including 4 siRNA drugs, 9 ASO drugs, and 1 aptamer. Moreover, following the COVID-19 pandemic, the development of mRNA vaccines has garnered increased attention.

Big pharmaceutical company Novo Nordisk once announced on November 18, 2021, that it would acquire Dicerna Pharmaceuticals, a U.S.-based company developing RNAi therapies, for $3.3 billion in cash to complement Novo Nordisk's existing technology platform. Additionally, news such as Alnylam receiving a $2 billion investment from Blackstone Group, and Ribo Biotech announcing a C2 round of financing worth 470 million RMB, has continuously stimulated the sensitive nerves of the capital market, with the market value of some nucleic acid drug companies continuing to rise.

A series of actions have brought nucleic acid drugs, which have been through years of hard work and perseverance, back into the public eye. Sharp pharmaceutical professionals are now targeting the industry's风口 (upward trend) and striving to catch up.

Molecular Axiom is one of them. Although drugs for all three mainstream types of RNA therapies (ASO, siRNA, mRNA) have already been approved for marketing, the number of approved drugs remains very small. Dr. BoHan Jin analyzed: "In terms of technological maturity, it is far from reaching a point where one company dominates the field and others can hardly catch up."

The main technical challenges in the development of nucleic acid drugs lie in drug stability, immunogenicity, and drug delivery. Although there are increasingly more R&D companies in the RNA field that have made some technological breakthroughs, from the perspective of realizing the potential value of nucleic acid drugs, it is only the beginning.

Dr. Jin Bohan judged,With the continuous breakthroughs in various R&D and delivery technologies related to nucleic acids, nucleic acids will gradually become the third mainstream model, alongside large molecules and small molecules.“Dividing the World into Three Parts”The situation is that its explosive growth has just begun.

Dr. Bo Han Jin, the founder of Molecular Axiom, is a serial entrepreneur who has led multiple innovative drug projects from discovery to clinical trials. His extensive track record of successful projects is a key factor in securing collaboration with current investors.

Dr. Jin Bohan co-founded the biotechnology company Fronthera Pharmaceuticals, with three projects advancing into clinical development. Among them, the TYK2 inhibitor was acquired by Foresite Capital for $180 million in March 2021. Subsequently, Foresite established a new company, Alumis Inc., injecting $200 million to further advance the TYK2 inhibitor ESK-001, which was in Phase I clinical trials at the time. On September 28 this year, the molecule entered Phase II clinical trials, becoming the most closely watched next-generation TYK2 inhibitor in the industry after Bristol Myers Squibb's Sotyktu.

Dr. Lishan Chen, another co-founder of Molecular Axiom, has been a close friend of Dr. Bohan Jin for a long time and is a world-class expert in nucleic acid drug research. Dr. Lishan Chen has established nucleic acid drug research platforms in four companies, leading three antisense projects, two RNAi projects, and multiple mRNA projects from discovery to clinical trials. Meanwhile, Dr. Lishan Chen is also a leading expert in nucleic acid drug delivery technology, with achievements in LNP-mRNA, lung-targeted drug delivery, SNA, conjugation, exosome, and other technical fields.

With complementary professional backgrounds, the two founders can spark more intellectual exchanges when facing problems. "He approaches issues from the perspective of genetic diseases, while I consider them from the standpoint of small molecules. However, we arrive at the same conclusion, which verifies the feasibility and correctness of our ideas and gives us great confidence," said Dr. BoHan Jin.

In March 2021, the two founders decided to establish Molecular Axiom in San Diego, California, USA, and quickly completed millions of dollars in angel round funding in September of the same year. They also successfully completed Series A financing in October 2022.

During the financing process, Molecular Axiom received external affirmation for its team and technology, which has also given Molecular Axiom more confidence to further develop the company.

The gathering of talent and external recognition have both boosted Molecular Axiom's confidence, but the company's continued development relies on the core technology it holds.

On June 13, 2022, Bio Partnering (BIO International Convention) opened in California, USA. This international biotechnology cooperation conference attracts more than 15,000 experts from the biotechnology and pharmaceutical fields every year.

Participating in Bio Partnering is a rare opportunity for companies and institutions related to biotechnology, where leaders of companies and institutions exchange ideas, gain R&D inspiration, discover new business opportunities, and attract project financing and cooperation during the conference.

Molecular Axiom Establishes Connections with Multiple Renowned Pharmaceutical Companies at Bio Partnering Conference; Jin Bohan Discovers That Many Large Pharmaceutical Companies Are Focused on the Same Targets Currently Under Research by Molecular Axiom; Additionally, Molecular Axiom’s Multi-Platform Interactive Model for Drug Development Is Unique in the Industry.

At international conferences, Molecular Axiom's significant value has been recognized by peers. The two technology platforms of Molecular Axiom, RNA drug design and nucleic acid delivery, work together to address two major technical challenges in the process of nucleic acid drug development from research to clinical trials.

The Molecular Axiom team believes that source innovation requires laying a solid technical foundation first. The advanced nucleic acid drug research and development technology platform is the biggest competitive edge that sets Molecular Axiom apart from other nucleic acid drug research companies.

Molecular Axiom has two major technology platforms,1. RNA New Drug R&D Technology Platform, capable of conducting drug research and development based on at least three nucleic acid modalities, with ongoing expansion into new technologies.Second, a multi-faceted drug delivery technology platform based on independently developed novel LNP drug delivery technology.

RNA New Drug R&D Technology Platform is mainly used for the research and development of nucleic acid drugs, selecting appropriate nucleic acid drug R&D technologies for different targets.Molecular Axiom maintains a high level of rigor in the layout of its product pipeline. Molecular Axiom has a unique and strict multi-faceted selection criterion for target selection. For instance, they require that the targets are not only highly validated but also present entirely new (First-in-class) opportunities in clinical applications. This approach not only reduces the risk of target druggability but also ensures no compromise on scientific and commercial value, thereby maximizing overall value.

In terms of indication selection, Molecular Axiom is different from most small nucleic acid companies, focusing on diseases outside the liver. Currently, the main focus is on lung diseases, CNS, and skin. Jin Bohan explained: "Because we have already established a targeted delivery system outside the liver, our pipeline based on this platform is more innovative and unique."

The innovation of Molecular Axiom's products is reflected in: the use of inhaled nucleic acid products to treat serious conditions such as cancer and inflammation; the treatment of challenging neurodegenerative diseases by targeting the central nervous system with nucleic acid patterns; and the combination of internal research and development with collaboration from world-class research institutions (City of Hope) to develop active targeting nucleic acid drug delivery technology.

As of today, Molecular Axiom is advancing multiple First-in-class projects, with plans to initiate IND filings for three projects in 2023.

It is worth mentioning that the company's unique drug delivery platform is exactly the technology that Molecular Axiom was praised for by many large companies in the industry at the Bio Partnering conference. In the first phase of developing this platform, traditional delivery methods were used. As it moves into a new stage of research and development, Molecular Axiom has been exploring new drug delivery methods and developing new technologies.Develop second-generation active targeting nucleic acid drug delivery technology.

Molecular Axiom's current R&D center is in the United States, and this year it has established cooperative relationships with the City of Hope, a renowned American cancer research center, and the University of California, San Diego (UCSD). Molecular Axiom's R&D in the United States has entered a stable output phase.

The Chinese market is a crucial part of Molecular Axiom's global strategic layout.Molecular Axiom Team is Optimistic About the Long-term Research Environment in China and the Market Prospects of Innovative Drugs, and Believes that Utilizing Their Own Advantageous Resources in Both the United States and China Can Lead to Better Development.

Molecular Axiom's Shanghai branch, "Molecular Axiom" (Molecular Axiom), has been established. The team plans to focus on some early-stage research work with unique advantages in China while leveraging the distinctive clinical advantages in the country to carry out a series of clinical developments and commercialization.

Dr. Jin Bohan further explained, "The two major sectors of product lines and platforms enable the U.S. R&D headquarters and the China R&D headquarters to interact and collaborate in many aspects, fully leveraging the strengths of both sides to achieve a result where one plus one is much greater than two. This approach will not only establish Molecular Axiom as the largest and strongest nucleic acid new drug R&D company in China but also, in turn, propel Molecular Axiom to become a world-leading nucleic acid pharmaceutical company."

This round of financing is a crucial step for Molecular Axiom to enter the Chinese market. Molecular Axiom plans to immediately carry out a series of implementation efforts, with a dual focus on both domestic and international markets, which will bring greater possibilities for Molecular Axiom's development.

For this round of financing,Founder of Molecular Axiom, BoHan JinExpressed: "Thank you to the investors for their recognition and support of Molecular Axiom. We will fully promote multiple projects to enter clinical validation as soon as possible, bringing tangible hope to patients and pushing the company's value to a higher level."

Shenzhen Oriental Fortune Capital Co., Ltd. Wang Peijun"Molecular Axiom, founded by several seasoned entrepreneurs and experts in the nucleic acid drug research and development industry, focuses on the development of nucleic acid drugs in the fields of oncology, neurology, and autoimmune diseases. Nucleic acid drugs represent one of the most important areas in future new drug development, with the potential to address targets that were previously undruggable or prone to drug resistance and off-target effects. These drugs also feature shorter development cycles and lower trial-and-error costs. The market size for nucleic acid drugs reached $45 billion in 2021 and is expected to maintain rapid growth. The founding team, starting from clinical value, leverages multiple technical platforms they have accumulated to determine development strategies based on druggability and differentiation, forming a pipeline portfolio that balances stability and growth potential. Dr. Bo Han Jin, CEO of the company, is a serial entrepreneur responsible for product strategy, while Dr. Li Shan Chen, CSO, has led teams to bring multiple non-vaccine mRNA projects into clinical trials and oversees drug development. In addition to rapidly targeting biologically significant and currently unexplored market opportunities, the company is actively investing in the development of cutting-edge nucleic acid drug delivery systems to expand its strategic depth. We wish Molecular Axiom success in accelerating its product development, benefiting more patients and society, and realizing its own value and the dream of pharmaceutical innovators."

Miao Yu, Partner of Heailthcare Capital"It is stated: 'The development of small nucleic acid drugs has gone through several stages, including theoretical exploration, market initiation, two downturns, and industry recovery. We believe that the industry is now on the verge of a boom. The team at Molecular Axiom has extensive experience in the field of small nucleic acids, having led the development of dozens of small nucleic acid projects at Ultragenyx, Kyowa Hakko Kirin, Nastech, and Pfizer. They also possess an in-depth understanding of key aspects such as small nucleic acid design, modification, delivery, and production. We are confident that under the company’s efficient R&D system, Molecular Axiom will bring clinically valuable small nucleic acid products to market for the benefit of the public.'"

Li Yizhen, Head of Healthcare Investment at Shanghai Ruihe Equity Investment Management Co., Ltd."Nucleic acid drugs have significant application potential in diseases or targets that were traditionally considered infeasible, while also offering advantages such as higher activity, better safety, longer duration of action, and clear mechanisms. The company's two founders possess extensive R&D and management experience in this field. We look forward to achieving technological breakthroughs in sequence design, chemical modification, and delivery systems to develop innovative drugs that meet clinical needs."

Shenzhen Oriental Fortune Capital Co., Ltd. (referred to as OFC or Oriental Fortune Capital) is a professional venture capital management company established by several professionals with long-term experience in China's venture capital industry, rich practical experience, excellent investment performance, and significant influence in the field. Oriental Fortune Capital focuses on investing in target companies with growth potential and IPO prospects, actively providing value-added services to invested enterprises, enhancing their profitability, and striving to help enterprises maximize their value through IPOs and other means, delivering satisfactory capital appreciation returns to investors.

Heailthcare Capital was founded in April 2015 as a specialized fund under Jinpu Investment, focusing on equity investments in the healthcare industry. Currently managing three funds with a total scale exceeding 2 billion RMB, the fund's investment areas include biotechnology and pharmaceuticals, medical devices, IVD, and more. Since its establishment, Heailthcare Capital has invested in over 40 projects, all of which hold leading positions in their respective industries. Among the invested projects, companies such as Jian Shi Technology (9877.HK), MGI Tech (688114), MicuRx Pharmaceuticals (688373), Perfuze Medical (2190.HK), Adagene (ADAG), Hyperfine Inc. (HYPR), JW Therapeutics (2126.HK), and Gaotu Techedu (GOTU) have successfully gone public. Practicing a corporate culture of sharing and growth, Heailthcare Capital is committed to being a value discoverer and value creator, accompanying outstanding entrepreneurs on their journey of growth.

Shanghai Ruihe Equity Investment Management Co., Ltd. was founded in 2010 by seasoned professionals from the industry and financial sectors. With the goal of "helping enterprises innovate and grow, promoting industrial optimization and upgrading, and advancing social development," it focuses on early-stage investments in the fields of information technology, pharmaceuticals and healthcare, and cultural creativity. In the pharmaceuticals and healthcare sector, Ruihe Capital has led investments in outstanding companies such as Mino Pharmaceutical, Titan Technology, Adlai Nortye, Huaxian Pharmaceutical, Zhinuo Biotechnology, and Meck Medical.