Xiangxue Life Sciences Secures RMB 100 Million Series A Funding to Accelerate Cell Immunotherapy Development

On March 8, Guangzhou Xiangxue Pharmaceutical Co., Ltd. announced that its subsidiaries, Guangdong XIANGXUE LIFE SCIENCES LTD and Xiangxue Life Sciences, had signed the "Series A Financing Investment Agreement Regarding Xiangxue Life Science Technology (Guangdong) Co., Ltd." and related financing documents with Beijing Huagai Healthcare Investment Management Co., Ltd. According to the agreement, Huagai Healthcare will inject RMB 100 million into Xiangxue Life Sciences, of which approximately RMB 595,200 will be recorded as registered capital and RMB 99.4048 million will be recorded as capital reserve. Following the capital increase, the registered capital of Xiangxue Life Sciences will increase to approximately RMB 5.5952 million, with Guangdong XIANGXUE LIFE SCIENCES LTD holding an 89.3617% equity stake and Huagai Healthcare holding a 10.6383% equity stake.

GuangDong XIANGXUE LIFE SCIENCES LTD (hereinafter referred to as “Xiangxue Precision”), a subsidiary of Xiangxue Pharmaceutical, focuses on the research and development of tumor-specific T-cell adoptive immunotherapy technologies and the advancement of their clinical applications. TAEST16001 injection is the first product in its R&D pipeline. Clinical principal investigator (PI) studies have demonstrated that T cells infused into patients treated with TAEST16001 can persist for extended periods in vivo and exhibit favorable therapeutic efficacy. In March 2019, it received the first domestic investigational new drug (IND) approval for a TCR-T therapy in China. Currently, Phase I clinical trials are underway, targeting malignant solid tumors, primarily soft tissue sarcomas.

To enhance the Company’s independent R&D and operational capabilities in cellular immunotherapy, in January 2021, Xiangxue Pharmaceutical agreed to have GuangDong XIANGXUE LIFE SCIENCES LTD transfer all assets and liabilities related to its specific T-cell adoptive immunotherapy technology to Xiangxue Life Sciences at their audited book value. Xiangxue Pharmaceutical anticipates that substantial capital investment will still be required over the next one to two years; therefore, it plans to introduce Huagai Medical as a strategic investor for Xiangxue Life Sciences. This move aims to further consolidate the Company’s leading position in the field of specific T-cell adoptive immunotherapy for solid tumors, accelerate the clinical trials of the new drug TAEST16001 injection, and expand its R&D pipeline.

XIANGXUE Pharmaceutical expects that “GuangDong XIANGXUE LIFE SCIENCES LTD” will still require substantial capital investment over the next one to two years. This round of strategic financing will be used to accelerate the clinical trials of the new drug TAEST16001 injection and to expand its R&D pipeline.

Responsible Editor: Liu Li

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