Lingyi Bio Completes Nearly RMB 100 Million in Pre-A and Pre-A+ Financing to Advance Rare Disease Modeling Platform and Gene Therapy Pipeline

VCBeat learned that on February 28, 2022, Lingyi Biotech announced the completion of nearly 100 million yuan in Pre-A and Pre-A+ financing. The Pre-A round was exclusively invested by Matrix Partners, and the Pre-A+ round was exclusively invested by Sequoia China, to promote the improvement of the company's rare disease animal model platform and the preclinical development of several leading gene therapy pipelines. Joy Capital served as the exclusive financial advisor.

Lingyi Biotech, established in February 2021, is a leading gene therapy company with a globally advanced functional validation platform for rare disease animal models. Focused on source innovation, the company concentrates on hereditary rare diseases in metabolism, CNS, and ophthalmology. Lingyi Biotech boasts a world-class team in discovery, development, and industrialization within the gene therapy and rare disease fields. It also possesses a globally leading platform for the preparation and validation of rare disease animal models, addressing the significant challenge of the lack of effective animal models in rare disease research. The team has deep experience and a successful background in the R&D and industrialization of hereditary rare diseases, with multiple globally pioneering gene therapy projects currently in its R&D pipeline.

Dr. Lin Qing, Founder of Lingyi BiotechExpressed deep gratitude to the investors in this round for their recognition and support of Lingyi Biotech's team. Lingyi Biotech will continue to focus on clinical needs, commit to original innovation, and further explore the field of gene therapy. The company aims to build a world-leading rare disease model platform and independently develop gene therapy products with the goal of benefiting patients as soon as possible. Lingyi Biotech is poised to become a leader in gene therapy, and we are highly confident about the future!

Mr. Sun Linghao, Investment Director of Matrix PartnersRepresenting another early-stage investment by Matrix in the cell and gene therapy sector, Lingyi Biotech has established a globally leading and highly differentiated product pipeline through years of preclinical development experience in the industry and a proprietary novel production platform led by Dr. Lin's team. We look forward to the company reaching significant milestones in the coming year and gradually becoming a leading R&D platform in the field of rare disease gene therapy, truly benefiting patients.

Ms. Cuiping Gu, Managing Director of Sequoia ChinaSequoia China has long been paying attention to the development of new technologies in the pharmaceutical field and the growth of early-stage companies. The industrialization of gene therapy is one of our key focuses, especially in the treatment of rare diseases, where gene therapy is expected to provide more effective and long-lasting solutions. Lingyi Biotech's founding team has extensive experience in the development of rare disease animal models. Combined with the team's industry experience in gene therapy, we believe they can bring safer and more effective treatment options to patients. We hope to join hands with Lingyi Biotech to jointly promote the global research and development process of gene therapy drugs for rare diseases.

Mr. Li Yishi, Senior Partner of Haoyue CapitalWe are honored that Grandjoy Capital served as the exclusive financial advisor for Lingyi Biotech in this round of financing, assisting the company in successfully completing the fundraising. The smooth success of Lingyi’s financing fully demonstrates the market's recognition of the team's execution capabilities and the superiority of its pipeline. The Lingyi Biotech team has a clear development strategy, extensive industry experience, and highly efficient execution capabilities. We remain optimistic about the company’s future prospects and look forward to Lingyi Biotech’s continued growth.

Matrix Partners was founded in 2008 and is a leading venture capital firm that has long focused on early-stage and early growth-stage investments in the industry. It concentrates on investing in new technologies, advanced technology, industrial digitalization, healthcare, cutting-edge technology, and new consumer sectors. To date, it has invested in over 700 companies, including XPeng Motors, Li Auto, Futu Securities, Chehaoduo Group, Ele.me, Youzan, Ronbay Technology, XGIMI Technology, Momo, PingCap, Peijia Medical, Career International, Chemclin Diagnostics, Beisen, Lexin, Self-heating Pot, Chuanzhi Education, Muxi Integrated, Jane Love, SemiDrive Technology, Magna Robotics, XinYaHui, XinHuaZhang, Binhwa Bio, and Aetovax.

Since its establishment more than ten years ago, Matrix Partners has built an investment team of over 40 people, continuously investing heavily in China and focusing on early to mid-stage companies. At the same time, we firmly believe in putting entrepreneurs first and have established a robust post-investment service system. Our post-investment team consists of 80 people across ten different functions, empowering portfolio companies in all aspects such as strategy, operations, and talent. We make every effort to provide value to entrepreneurs, offering help without causing any trouble.

Sequoia China has always been committed to helping entrepreneurs build enduring great companies, bringing rich global resources and valuable historical experience to its portfolio companies. As the "entrepreneurs behind entrepreneurs," Sequoia China focuses on investment opportunities in three areas: technology, consumer, and healthcare. Over the past 17 years, Sequoia China has invested in more than 900 companies with distinct technological features, innovative business models, and high growth and development potential.

HaoYue Capital was founded in January 2014, dedicated to becoming the bridge connecting China's healthcare industry with capital. The research areas and transaction scope of HaoYue Capital cover multiple subfields such as biopharmaceuticals, innovative medical devices, IVD and precision medicine, medical services, and smart healthcare. The team of HaoYue Capital consists of senior investment bankers who have been deeply involved in China’s healthcare sector for many years. They closely track the dynamics and investment trends of the healthcare investment market on a long-term basis, issuing weekly healthcare investment reports and thematic research reports, interpreting new policies and frontiers through HaoYue perspectives.