Bennu Biotherapeutics Completes Over RMB 100 Million Series Angel+ Financing to Accelerate Frontier R&D and Translation in Cell Therapy

VCBeat learned that on August 15, 2022, Bennu Biotherapeutics, an innovative biotechnology company focused on the cell therapy field, announced the completion of an angel+ round of financing exceeding 100 million RMB. This round of financing was led by INCE CAPITAL, with participation from LSV CAPITAL and Witruth Capital Investment Co., Limited, among other well-known funds. The funds raised from this round will mainly be used for preclinical research and clinical development of the company's product pipeline on a global scale.

Biocytogen was founded in November 2021.Founded by Academician Dong Chen in collaboration with GL Ventures, CD Capital, and other institutions, the company has raised hundreds of millions of RMB in cumulative financing to date.The company focuses on the research and development and transformation of cutting-edge technologies in the field of cell therapy, and is committed to becoming a global leader in innovative cell therapies for cancer and autoimmune diseases.

In recent years, cell therapies represented by CAR-T have achieved significant breakthroughs in the field of hematological tumor treatment, but their clinical application still faces a series of challenges. Meanwhile, therapies based on other types of T cells, such as TIL, TCR-T, and Treg, have demonstrated unique clinical advantages in areas like solid tumor treatment and are expected to expand the application of T cell therapies to other disease areas such as autoimmune diseases, showing broad prospects.

Bionoj Bio focuses on the field of T-cell innovative therapies and has established its unique T-cell fate regulation target development platform and T-cell engineering modification platform. The company is committed to developing next-generation cell therapies based on various T-cell types to address many issues of existing therapies and bring revolutionary innovation to this field. Currently, Bionoj's product pipeline concentrates on the treatment of solid tumors. The company is conducting process development and pharmacological toxicology experiments for its first product, BEN101, and has initiated preparations related to clinical development.

BioVita Biotech has built a core team with rich industry experience and complementary strengths. The company's executives are well-versed in strategic planning, R&D management, and operational management for companies in the biopharmaceutical and technology sectors. Co-founder and CEO Ping Zhao has extensive experience in building well-known leading enterprises from the ground up within the industry. With her comprehensive expertise and deep experience in the field of oncology, she has established an efficient management and operational system for BioVita Biotech. BioVita Biotech will gather top multidisciplinary talents from around the world, driven by innovation and execution capabilities, to accelerate the development of its product pipeline.

Binuo Biomedical Science Founder, Academician Dong ChenExpressed: "We are very grateful for the trust and support from institutional investors in BeneGenesis Bio. In recent years, T-cell therapy has achieved tremendous breakthroughs in clinical applications, and research on T-cell differentiation and fate regulation has also made significant progress. The enrichment and engineering modification of T-cells based on a series of related targets are expected to address current clinical challenges faced by T-cell therapies, significantly improving their safety and efficacy. BeneGenesis Bio is committed to cutting-edge technology research and industrial transformation in the field of T-cell therapy. Through its experienced team with extensive industry expertise and relevant technical platforms, the company will rapidly advance the engineering modification and clinical application of targets related to T-cell fate regulation, developing the next generation of enhanced T-cell therapies. BeneGenesis Bio will strive to fully leverage the respective strengths of academia and the industry to become a global leader in innovative cell therapies for cancer and autoimmune diseases, truly fulfilling the mission and vision of making cell therapy accessible to millions of patients."

Ms. Ping Zhao, Co-founder and CEO of BiocytogenStated: "We are highly honored to continuously receive trust and strong support from numerous renowned investment institutions. Under the guidance of Academician Dong Chen, BioNanoGen has built an internationally leading translational immunology research platform. Moreover, the senior management team of BioNanoGen possesses extensive experience in corporate strategy and operations, as well as clinical development and commercial production of cell therapies. With professional medical expertise, profound scientific research capabilities, and a seasoned management team, we are confident in becoming a future leader in the field of cell therapy."

INCE Capital, established in 2019, is a venture capital firm focused on investing in early to expansion-stage enterprises, with an emphasis on innovation in technology, the internet, and consumer sectors. In its English name, "IN" stands for Intelligent Innovative Investment, while "CE" is derived from the pinyin of the Chinese character "策," meaning strategy and decision-making. INCE Capital is committed to discovering highly promising innovators and empowering future great enterprises. The total scale of funds managed by INCE Capital exceeds 1 billion US dollars, with funding contributions from top-tier global university endowments, foundations, family offices, and fund-of-funds. INCE Capital currently has offices in Shanghai, Beijing, and Hong Kong in China, as well as in the United States.

LSV CAPITAL is a specialized fund under the leadership of Legend Capital and ZGC Capital, with Beijing Science and Technology Innovation Center and Zhongguan Village Life Science Park as the main incubation bases. It radiates across China and focuses on investment and financing services for technological innovation. Legend Capital, with the vision of "discovering scientists and entrepreneurs who change the world and jointly creating real social value," covers investment areas such as biopharmaceuticals, high-end medical devices, and biosynthetic technology. It has participated in investing in biotech projects including Inflammation Medicine, Huayi Lejian, Vitarilon, Huaxia Yingtai, Corner Bio, and Weigong Technology.

Witruth Capital Investment Co., Limited has been focusing on investment and investment banking in the Chinese market for over 10 years. Adhering to a "global perspective with a Chinese stance," it is committed to "assisting Chinese scientists and entrepreneurs in building great companies." The Witruth Capital team members have decades of experience in finance and investment, with a primary focus on outstanding enterprises in fields such as biomedicine and intelligent technology.