Heyuan Bio Announces Over RMB 400 Million Series C Financing to Accelerate Commercialization and Global Expansion

On July 12, Juventas announced the completion of a Series C financing round exceeding RMB 400 million. The round was co-led by funds under CICC Capital and Haisong Capital, with follow-on investments from Delian Capital and existing investors Jiadao Private Capital, Danlu Capital, Tianchuang Capital, Daotong Investment, and Xiangrong Capital. The proceeds will be allocated to accelerate the commercialization of Juventas’ proprietary CAR-T product, “CNCT19 Cell Injection,” under China’s new drug registration pathway, and to implement its international R&D initiatives. Furthermore, the funding will drive the global R&D layout of innovative drugs across its CAR, iPSC, and gene editing technology platforms, encompassing autologous and universal immune cell therapy products targeting hematological malignancies, solid tumors, and other indications.

Dr. Lü Lulu, CEO of Juventas, stated: “We sincerely thank our investors for their recognition and support. Driven by our strategy for rapid commercialization and international expansion, Juventas continues to innovate on its cell and gene technology platform. Through in-depth collaboration with top-tier national research institutes and clinical centers, we are continuously building an international innovative platform for new drug R&D, developing a globally competitive R&D pipeline, and advancing its clinical translation and commercialization, to provide safe, highly effective, and accessible innovative cell therapies to more oncology patients.”

Mr. Zhao Xinhao, Project Leader at CICC Capital, stated: “Immune cell therapy represents one of the core modalities for future oncology treatment. While its development and commercialization as a ‘drug’ present considerable challenges, its application prospects remain highly promising. Juventas is backed by a senior management team with comprehensive experience across the full industry chain of cell therapy R&D, production, and commercialization. Through strategic partnerships with top-tier research institutions in China and by applying an innovative drug development paradigm, the company is accelerating the commercialization and international expansion of its products, firmly establishing itself as a leading enterprise in China’s immune cell therapy sector. The company’s core product, CNCT19 cell injection, has received Breakthrough Therapy Designation from China’s National Medical Products Administration (NMPA). It stands as one of the proprietary CAR-T therapies in China closest to commercialization and clinical application. Furthermore, its indication for adult acute lymphoblastic leukemia (ALL) is expected to address a significant global unmet medical need. We look forward to its rapid approval and market launch to benefit patients with hematologic malignancies. CICC Capital will leverage its key resources to partner closely with the Juventas team, supporting the advancement of both the company and the broader immune cell therapy industry, with the aim of expediting the market launch of independently developed CAR-T therapies to benefit a wider population of cancer patients.”

Mr. Chen Liguang, Managing Partner at Haishong Capital, stated: "Driven by the sustained growth in biopharmaceutical market demand, innovation and internationalization will be the main themes for China's innovative drug development in the next phase. As a key representative of current innovative drug R&D in China, immune cell therapy drugs hold substantial long-term investment value. We are highly confident in Juventas' innovative R&D and rapid commercialization capabilities in the cellular immunotherapy field. We look forward to working together to effectively meet the medical needs in the oncology market and help Juventas become a leader in the cell therapy sector."

CICC Capital is a wholly-owned private equity investment management subsidiary of CICC, responsible for managing the company’s domestic and overseas private investment fund businesses. It undertakes key functions including formulating strategic development plans for private investment operations, driving business growth, resource allocation, and risk management. As of the end of 2020, CICC Capital’s total assets under management exceeded RMB 350 billion. Backed by a professional investment management team of over 300 members, CICC Capital and its affiliated sub-platforms—including CICC Qiyuan, CICC Jiacheng, CICC Zhide, CICC Overseas Fund of Funds, and CICC Jiazi—manage a wide array of funds, establishing itself as one of China’s leading private equity investment fund management platforms.

Haisong Capital is a professional investment management firm dedicated to long-term and value investing. It focuses on investing in high-tech and healthcare enterprises driven by innovative technologies, particularly companies featuring breakthrough and revolutionary innovations. Key investment sectors include AI, semiconductors, 5G, cloud computing, enterprise services, big data, new energy, new materials, cybersecurity, the Internet of Things (IoT), innovative pharmaceuticals, and innovative medical devices. In just the past three years, Haisong Capital has invested in over 30 top-tier healthcare enterprises, establishing a strategic presence across both China and the United States. By providing long-term, sustained support to exceptional entrepreneurs, complemented by Haisong’s international operational management expertise and extensive industry resources, the firm aims to accelerate corporate growth and collaboratively build world-class, industry-leading enterprises.

Jiadao Private Capital was founded by Mr. Gong Hongjia in 2014. It focuses on strategic investments in life sciences, traditional Chinese medicine (TCM) and healthcare, green eco-agriculture, new energy, and environmental protection. Through direct investments and fund participations, Jiadao provides value-added services to early- and mid-stage enterprises, facilitating the integration of upstream and downstream industry chain resources and driving industrial upgrading. Under different industrial sectors, Jiadao Private Capital has established the Jiadao Gongcheng Equity Investment Fund, Jiadao Hongshan Equity Investment Fund, and Jiadao Fangzhi Education Industry Fund. Within its angel investment portfolio, Jiadao has co-established the "Zhongke Angel Equity Investment Fund" with the Shenzhen Institute of Advanced Technology, Chinese Academy of Sciences; co-initiated the "Chuan-Yu High-Quality Authentic Medicinal Materials Industry Development Fund" with the Sichuan Commercial Investment Group; and jointly launched the "HUST Capital & Intelligence Returning to Wuhan Angel Investment Fund" with its alma mater. Jiadao has also co-initiated or participated in investments in renowned funds such as Sequoia Capital, Hillhouse Capital, IDG Capital, Zero2IPO Capital, Plum Ventures, Origin Capital, and Jiahao Investment.

Danlu Capital is a firm dedicated to providing early-stage services for innovative medical technologies. Co-founded in early 2018 by Lu Qinchao, former Partner at Sequoia Capital China, and Su Zhenbo, former Managing Partner at Fenxiang Investment Management, its core team comprises veterans from renowned venture capital funds and possesses extensive healthcare industry resources across China and the United States.

Currently, Danlu Capital manages two RMB-denominated funds, with investors comprising renowned market-oriented fund of funds (FOFs), asset management companies, government-guided funds, industrial capital, family offices, and listed companies. Danlu Capital remains deeply committed to the early-stage healthcare sector, systematically investing across multiple fields, including innovative medical technologies such as high-value medical consumables, in vitro diagnostic (IVD) reagents, consumer healthcare, and digital health, alongside innovative drugs and novel medical services.

Established in 2003, Tianchuang Capital was initiated by the first municipal-level government-guided fund of funds, jointly established by the Tianjin Municipal Science and Technology Bureau and the Tianjin Municipal Finance Bureau. The investors in the funds managed by Tianchuang Capital include the Ministry of Science and Technology, the National Development and Reform Commission, the Ministry of Finance, listed companies, and private capital, with cumulative assets under management exceeding RMB 8 billion. Based in Tianjin and operating across China, Tianchuang Capital is committed to focused and meticulous cultivation. Through its independent, objective, and rigorous industry research and evaluation system, it has consistently secured early-mover advantages in high-growth sectors, successfully nurturing a portfolio of outstanding high-tech enterprises.

Downton Capital specializes in early-to-mid-stage investments and industry M&A within the healthcare sector. The firm’s core team comprises professionals with deep roots in the healthcare industry, bringing extensive expertise in healthcare enterprise operations and management, investment, and M&A. Their background includes entrepreneurial experience in incubating early-stage ventures, as well as managing publicly listed companies with market capitalizations of tens of billions of RMB. The investment focus spans medical devices, healthcare services, biopharmaceuticals, and healthcare IT. By leveraging profound industry expertise and resources, Downton Capital has cultivated a robust investment ecosystem, delivering high-value returns to its partners.

Established in 2018, Xiangrong Capital boasts a core team with extensive experience in managing government guidance funds. It manages the Guangzhou Rural Revitalization Industry Fund and the Guangzhou Industry and Information Technology Sub-fund, operating under a "fund of funds (FOF) + direct investment" model. Since its establishment, Xiangrong Capital has received honors such as "Top 50 Best Government Guidance Funds in China" and "Top 20 Emerging Investment Institutions in China". Additionally, Xiangrong Capital serves as an investor in renowned funds including Meituan Longzhu Capital, Xinli Capital, Danlu Capital, and Xinxing Fund. In the biopharmaceutical sector, through market-driven funds, it focuses on unmet clinical needs and cutting-edge life science technologies, proactively positioning itself in leading projects across cell therapy, oncology bispecific antibodies, and regenerative medical aesthetics.

Established in 2011, Delian Capital focuses on technology-driven projects in the fields of innovative healthcare, hard tech, and frontier technology. In the innovative healthcare sector, adhering to the fundamental principles of "Science Based, Data Driven" and adopting a "Global Vision, Chinese Momentum" approach, Delian Capital maps out high-quality niche sectors, with a primary focus on seeking early-to-mid-stage investment opportunities in China within third-generation therapeutics (cell therapy, gene therapy, gene editing, small nucleic acid therapeutics, etc.) and the IBAT (IT+AT+BT) niche tracks.

Founded in June 2018, Juventas is a next-generation biopharmaceutical company driven by innovative cell and gene technologies. Through in-depth collaboration with top-tier national research institutes and clinical research centers, it has established an international innovative new drug R&D system centered on core technology platforms such as CAR, iPSC, and gene editing. Focusing on the R&D and commercialization of innovative therapeutics like immune cell therapies, Juventas is committed to building an industry-leading platform for the development, clinical translation, and commercialization of cell therapy drugs.

The company's first core product, CNCT19 Cell Injection, is a CD19-targeting CAR-T cell therapy product with independent intellectual property rights, built upon years of accumulated technological innovation at the Institute of Hematology & Blood Diseases Hospital, Chinese Academy of Medical Sciences (CAMS Institute of Hematology). On November 29, 2019, CNCT19 Cell Injection received approval from the National Medical Products Administration (NMPA) for two new drug clinical trials: a trial for the treatment of relapsed or refractory acute lymphoblastic leukemia (Acceptance No.: CXSL1800106) and a trial for the treatment of relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (Acceptance No.: CXSL1800107). Currently, both clinical trials have advanced into Phase II registration trials and have been granted the "Breakthrough Therapy" designation by the Center for Drug Evaluation (CDE) of the NMPA, positioning it to potentially become the first marketed CD19-targeting CAR-T product with independent intellectual property rights.

Guided by clinical needs, the company adheres to a clinical-need-driven approach and, through rigorous production and quality management systems for cell therapy products, develops safe, effective, and accessible immune cell therapies for patients. It continuously builds a highly scalable and internationally competitive innovative pipeline covering hematological malignancies, solid tumors, and forward-looking universal platforms. Furthermore, the company is equipped with world-class R&D technology platforms, process development platforms, quality control systems, and commercial manufacturing facilities. The company operates a 2,000㎡ R&D center in Beijing and a nearly 10,000㎡ GMP-compliant facility in Tianjin dedicated to the translational research and commercial production of immune cell therapeutics. The company holds numerous invention patents and has been selected for the National Key R&D Program of the Ministry of Science and Technology, specifically the "2020 Key Special Project on Science and Technology Supporting Economic Growth".