Ruishun Bio Completes RMB 137 Million Series A Financing to Accelerate Development of Off-the-Shelf Universal DNT Cell Therapies

Recently, a global leader in off-the-shelf universal DNT cell therapy—Zhejiang Ruishun Biotech Co., Ltd. (referred to as "Ruishun Biotech" or the "Company")—announced the completion of a RMB 137 million Series A financing round. The round was led by Fuhui Ventures, with follow-on investments from institutions including Huaxia Hengtian, Paradise Silicon Valley, Xiamen Wantong Capital, and Kefa Capital. Probe Capital and other institutions served as financial advisors for this financing round.

This round of funding will be used for the registration clinical trials of RC1012 injection, Ruishun Biotech's globally first-in-class off-the-shelf DNT cell therapy; preclinical studies and IND applications for pipeline products including CAR-DNT, Gene Editing CAR-DNT, and iPSC-CAR-iDNT; the construction of facilities such as the company headquarters, R&D center, and manufacturing center in Cuiheng New Area, Zhongshan City; as well as the subsequent expansion of the project team.

Founded in February 2012, Ruishun Biotech is a Sino-foreign joint venture biopharmaceutical company dedicated to developing a series of globally innovative immune cell therapeutics for hematological and solid tumors. As the global pioneer in off-the-shelf, universal DNT immune cell therapy, the company possesses an independently developed DNT immune cell technology platform, along with cGMP-compliant systems for cell manufacturing, preparation, quality control, and quality management.

The company holds over 10 domestic and international invention patents related to DNT cell technology. By integrating CAR-T technology, gene editing, and iPSC platforms into its DNT cell platform, the company is developing and advancing the clinical translation and commercialization of a new generation of innovative cell therapies. Its product pipeline addresses unmet clinical needs in hematological and solid tumors.

The Company’s first core product, RC1012 Cell Injection (allogeneic DNT cells), is the result of nearly a decade of independent research and development by an R&D team led by Dr. Yang Liming, Chairman of the Company. In November 2020, the product received implied approval from the National Medical Products Administration (NMPA) to commence clinical trials for the treatment of relapsed/refractory acute myeloid leukemia (Application No.: CXSL2000248). This marks the first non-gene-edited allogeneic T-cell therapeutic in China to enter registration clinical trials. The clinical trial is currently being conducted at the Department of Hematology, The First Affiliated Hospital, Zhejiang University School of Medicine. The Company aims to secure the “Breakthrough Therapy” designation from the Center for Drug Evaluation (CDE) of the NMPA in 2022, with the potential to become the world’s first proprietary off-the-shelf universal DNT cell therapy to achieve global market approval. The Company’s current product pipeline comprises 10 R&D candidates targeting various hematological and solid tumors, with multiple products preparing to submit new IND applications for clinical trials.

Following the successful completion of the Series A financing round, the company has officially launched its Series A+ financing process.

Dr. Liming Yang, Chairman and Chief Scientific Officer of Ruishun Biotechstated: “We sincerely thank all investors and existing shareholders for their steadfast support of Ruishun Biotech. We especially extend our gratitude to Fuhui Venture Capital, the lead investor of this financing round, for recognizing our globally innovative off-the-shelf universal DNT cell therapy platform. The successful closing of this financing marks a new milestone in the company’s development history. The company will intensify talent acquisition, accelerate R&D progress, and expand its product pipeline. These initiatives will empower Ruishun Biotech to establish itself as a global leader in off-the-shelf universal cell therapies, laying a more robust foundation for our future growth. We are confident that, guided by the national innovation strategy and backed by strong investors who share our vision and goals, the entire team at Ruishun Biotech will uphold our mission of ‘making innovative cell therapies accessible and affordable to the public.’ We will continuously explore and develop more innovative treatments to save patients’ lives!”

Dr. Cheng Hao, Investment Partner, Fuhui Venture Capitalstated: "We are deeply honored to lead this financing round for Ruishun Biotech. At the same time, we are highly optimistic about the company's industrial layout and future development in Cuiheng New Area, Zhongshan City, as a pioneer of non-gene-edited, off-the-shelf, universal immune cell therapies in China. Adhering to the principles of 'early-stage investment, innovation-driven investment, industrial synergy, and ecosystem building' is a core strategy for Fuhui Venture Capital in the biopharmaceutical sector. Leveraging our deep cultivation and understanding of the biopharma industry, along with our established healthcare ecosystem, Fuhui Venture Capital will provide professional post-investment value-added services to Ruishun Biotech. These services will span external partnerships for pipeline products, clinical trial progression, post-approval commercialization collaborations, follow-on financing, and IPO readiness, all aimed at empowering the company's sustained growth. We firmly believe that, under the leadership of its founding team, Ruishun Biotech's product pipeline will efficiently complete subsequent clinical trials and secure early regulatory approval for market launch. This will ultimately benefit a broad patient population, and together we will contribute to the advancement of China's innovative cell therapy industry."

Guo Yongliang, Chairman of Huaxia Hengtianstated: “Ruishun Biotech is a globally leading ‘universal off-the-shelf’ immune cell R&D platform. Through the rigorous exploration and unremitting efforts of the founding team represented by Dr. Yang Liming, Ruishun Biotech has independently discovered and mastered ‘universal DNT cell therapy’. This modality is expected to become one of the effective cellular treatment methods for a broad spectrum of tumors in the future, carrying immense value and profound significance for treating a vast number of cancer patients. Meanwhile, compared to the currently prominent CAR-T cell therapy, Ruishun Biotech’s DNT cell therapy boasts advantages such as lower costs, a shorter manufacturing cycle, allogeneic infusion, reduced toxicity and adverse effects, and high scalability for mass production. Under the leadership of an exceptional corporate management and R&D team, the future growth of Ruishun Biotech is highly anticipated.”

Paradise Silicon Valley Managing Partner Bao Xueqingstated: "We sincerely thank Ruishun Biotech for its trust in Paradise Silicon Valley, which has given us the opportunity to invest in globally leading DNT immune cell therapy. Against the backdrop of significant unmet clinical needs in many malignant tumors, the development prospects of cell therapy are receiving increasingly widespread attention. The founding team of Ruishun Biotech has been deeply committed to the field of immune cell therapy for years. The company has established a comprehensive technology platform centered on its globally pioneering DNT immune cell technology. This technology features three key advantages: it is allogeneic, universal, and off-the-shelf. It effectively addresses the current clinical pain points associated with CAR-T immune cell products and demonstrates remarkable curative potential against a wide range of malignant hematological and solid tumors. Clinical trials have exhibited low immunogenicity, high safety profiles, and excellent efficacy. We look forward to partnering with the outstanding founding team led by Dr. Liming Yang to rapidly advance the commercialization of core technologies and innovative products, and to support Ruishun Biotech in becoming a global leader in the cell therapy sector."

Dr. Yang Xinru, Senior Vice President at Probes Capitalstated: “With the advancement of clinical R&D and industrialization of off-the-shelf universal tumor immune cell therapies, global investment, financing, and M&A activities in this field have continued to gain momentum in recent years. Drawing on years of scientific research and clinical experience in tumor immune cell therapy, Ruishun Biotech has developed the first in China and currently the only off-the-shelf universal immune cell therapy in clinical development. The team’s robust capabilities in technology and process R&D, along with its highly efficient execution, have left a profound impression on us. We wish Ruishun Biotech early breakthroughs for its DNT cell therapy in both hematological malignancies and solid tumors, bringing more accessible and highly effective treatment options to cancer patients.”

Fuhui Venture Capital is a VC investment firm focused on the commercialization of scientific and technological achievements and early-stage investment in technology enterprises. It specializes in investments across advanced manufacturing, emerging information industry, healthcare, and other sectors. The management team possesses extensive experience in both the industrial sector and equity investment. Portfolio companies in its healthcare segment include multiple high-quality enterprises such as New Horizon Health (06606.HK) [Medical Devices], Weizhen Biotech [Medical Devices], Jinbaihui Biotech [Medical Devices], Kaisikai Di [Innovative Drug R&D], Zhiben Pharma [Innovative Drug R&D], Niulan Biotech [Innovative Drug R&D], Huazi Biotech [Innovative Drug R&D], Baiji Hongye [Innovative Drug R&D], Youli Pharma [Innovative Drug R&D], Luoqi Biotech [Innovative Drug R&D], Huajian Future [Innovative Drug R&D], and Ruiyi Technology [Pharma CDMO].

Huaxia Hengtian Capital Management Co., Ltd. was jointly founded by renowned angel investors, veteran financial professionals, and former political elites. It is driven by a core team that combines strategic foresight and an international perspective with extensive practical experience and robust capabilities in technological commercialization. The company primarily engages in early-stage investments in technological innovation projects. Its core team has previously led or participated in early-stage investments in multiple publicly listed companies, including Focus Technology (300203), Silergy Corp. (TWSE 6415), Inventronics (300582), Kingsun Optoelectronic (002638), Yinjiang Technology (300020), and Jingui Silver Industry (002716). The current incubated and invested portfolio features niche industry leaders with cutting-edge technologies and outstanding growth prospects, such as Baweitong, Xinzailing, Kangfenwei, Chuangtai Technology, Kaipaulo, and UBTECH. Centered on value investment, the company maintains a strong operational footprint in core innovation hubs such as Hangzhou High-tech (Binjiang) District and Future Sci-Tech City. It focuses on backing technological enterprises with the potential to become "Top One" (industry first) and "Only One" (industry unique), dedicating its resources to disruptive sectors that drive social progress and address critical societal challenges, pain points, and pressing issues. The firm concentrates on cultivating core corporate competitiveness and value creation, aiming to "co-create a benchmark for value investment in China and build a Chinese counterpart to Berkshire Hathaway."

Established in 2000, Paradise Silicon Valley is one of the first fund managers in China, boasting a 21-year history. Adhering to the philosophy of "investors first, value investing, and industry focus," the firm specializes in equity investments across the information technology, healthcare, intelligent manufacturing, and consumer sectors. To date, 43 of its portfolio companies have been listed on the A-share or Hong Kong stock exchanges. Paradise Silicon Valley is committed to leveraging its professional expertise to foster the growth of entrepreneurial enterprises and deliver growth-driven value returns to investors.

Founded in 2017, Probe Capital is a boutique investment bank specializing in healthcare and life sciences. Its founding team hails from top-tier private equity firms, financial advisory agencies, management consulting companies, and specialized healthcare media. Since its inception, Probe Capital has consistently completed double-digit private financing and M&A transactions annually, with cumulative transaction value approaching RMB 10 billion. In terms of corporate value-added services, the Probe Capital team also possesses extensive industry expertise. Established in 2020, the Probe New Healthcare Fund has already invested in multiple leading companies within the sector.