Shixi Biotech Secures Tens of Millions in RMB in Angel Funding to Advance RNA Editing Therapeutics

VCBeat learned that RECORNA (Guangzhou) Biotechnology Co., Ltd. (hereinafter referred to as "RECORNA") has completed its angel round of financing. This round of financing was jointly invested by Hangzhou Xiaoquan No. 2 Venture Capital Partnership (Limited Partnership), Hangzhou Yigong Yizheng Venture Capital Partnership (Limited Partnership), and Beijing Life Science Park Innovation Investment Fund (Limited Partnership), with a financing amount of tens of millions of yuan.It is reported that the proceeds of this round of financing will be used for the research and development of the company's core projects, the advancement of core pipeline project validation, and the expansion of the team.

RECORNA is located in the International Biotech Island, Huangpu District, Guangzhou, and is one of the first companies to settle in the BeiGene Bioisland Innovation Center. The company was co-founded by a team of scientists led by a Stanford University returned doctor and pharmaceutical executives with operational management experience in both international and domestic pharmaceutical enterprises.Currently, RecoRNA has established an RNA editing platform with independent intellectual property rights.It is committed to drug research and development in the field of clinical treatments for rare genetic diseases, neurological disorders, and chronic illnesses that have unmet medical needs.

RecoRNA aims to become a global leading RNA editing innovative drug R&D company by developing and providing high-quality innovative drugs to address unmet patient needs. It focuses on leveraging cutting-edge RNA-targeted editing technologies to develop novel innovative drugs, concentrating on disease areas that currently lack effective conventional treatments (small molecules, large molecules), and strives to obtain the first RNA editing innovative drug IND in China and even globally.

Hangzhou Yigong Medical Venture Capital Partnership (Limited Partnership) is managed by Zhejiang Ginkgo Valley Investment Co., Ltd. ("Ginkgo Valley Capital"). Ginkgo Valley Capital is an investment platform established by a renowned manufacturing industry GP in Zhejiang Province, starting with the new economic practices of the industry and focusing on investments in technology and data fields. It gathers the resources of scientists, entrepreneurs, and investors to empower young people, promote technological development, and facilitate industrial upgrading. Ginkgo Valley Capital has long been optimistic about investment opportunities in China driven by technology data, new technical therapies, and domestic alternatives in the life sciences field, and was ranked among the top 20 most active institutions in China's healthcare sector in 2022.

The executive partner of Hangzhou Xiaoquan No. 2 Venture Capital Partnership (Limited Partnership) is Hangzhou Xiaochi Private Fund Management Co., Ltd. ("Xiaochi Capital"). Xiaochi Capital is a venture capital firm focused on early-stage investments in life sciences. The company concentrates on cutting-edge global advancements, unmet clinical needs, and high-barrier innovations in biopharmaceuticals and medical technology, investing in and incubating life science enterprises with sustainable competitiveness. Ian Yin, the founder and Chief Investment Officer of Xiaochi Capital, has dedicated nearly 10 years to biopharmaceutical and healthcare investments. He has led or participated in the investment of 60 projects, including SciTech Biotech (300858), OncoImmune (acquired by Merck), Sunshine Nuotech (688621), CARsgen Therapeutics (HK02171), Sanbo Brain Hospital, Asieris Pharmaceuticals, and Hengfeng Biotech.

Beijing Life Science Park Venture Capital Fund, under the leadership of ZGC Development Group's Lead Innovation Investment and ZGC Capital, is a specialized fund focused on technology innovation investment and financing services. With Beijing's Science and Technology Innovation Center and Zhongguancun Life Science Park as the main incubation bases, it radiates across China. ZGC Development Lead Innovation Investment/Life Science Park Venture Capital Fund envisions "discovering scientists and entrepreneurs who change the world and jointly creating real social value." Its investment areas cover biopharmaceuticals, high-end medical devices, biosynthetic technology, and more. It has participated in investing in biotech projects including RecoRNA, Huayi Lejian, Vitaron, Huaxia Yingtai, Molecular之心, BiNoJi, and Weigong Technology.