[Lieyun Network (WeChat:ilieyun
) Beijing] November 21 report
Lieyun.com recently learned that Eluminex Biosciences announced the completion of a $50 million Series A financing round, co-led by Lilly Asia Ventures, GL Ventures, and Quanchuang Capital.
Dr. Jinzhong Zhang, Co-founder, Chairman, and CEO of Eluminex Biosciences, stated, “We are deeply grateful for the support and trust from three internationally renowned investment institutions. The company will leverage these funds to establish a globally innovative R&D pipeline and a core platform for innovative ophthalmic drug technologies, addressing the medical needs of patients in China and worldwide for eye diseases. We are also pleased to announce the appointment of three internationally distinguished ophthalmology experts—Professor Quan Dong Nguyen from Stanford University, Professor Zuguo Liu from Xiamen University, and Professor Xiaodong Sun from Shanghai Jiao Tong University—as members of Eluminex Biosciences’ inaugural Scientific Advisory Board. We extend our appreciation for their valuable advice and assistance in shaping the company’s strategy and R&D pipeline.”
Liang Lin, Partner at Lilly Asia Ventures, stated, “We are honored to have the opportunity to co-found Eluminex Biosciences with Dr. Jinzhong Zhang and Dr. Zhenze Hu. The team brings together a group of elite professionals in innovative ophthalmic drug development, combining international expertise with local insights. Their outstanding R&D experience gives us confidence that the company will develop innovative therapies not only for the Chinese market but also for the global market. We are delighted to collaborate from the outset with this seasoned team and top-tier industry investors to jointly build Eluminex Biosciences. As the company takes off, we look forward to Eluminex Biosciences becoming the crowning touch in the field of innovative ophthalmic medicines.”
Yi Nuoqing, Co-Chief Investment Officer of Hillhouse Capital and Head of Biopharmaceuticals and Medical Devices at Hillhouse Ventures, stated, “With the aging population, changes in lifestyle, increased eye strain, and heightened public health awareness, the incidence of ocular diseases in China has been on a continuous rise in recent years. However, due to the high technical requirements for ophthalmic drug development and the limited number of new drugs approved domestically, there is a substantial unmet need among patients in China. The founding team of Eluminex Biosciences possesses extensive drug development capabilities and sustained innovation potential, promising significant future growth. Hillhouse will support Eluminex Biosciences in its continuous innovation efforts to develop leading therapeutic agents for ocular diseases, thereby addressing the substantial unmet needs of patients and consistently creating social value.”
Dr. Hui Wu, Managing Director at Spring Capital, stated, “Spring Capital is dedicated to bringing patients urgently needed emerging therapies by fostering innovation. We are pleased to co-lead the Series A financing round for Eluminex Biosciences, whose outstanding management team has deeply impressed us. We believe that this experienced team will emerge as a leader in the field of ophthalmology, both in China and globally, by accelerating the development of innovative therapies. Spring Capital looks forward to leveraging its resources in China and worldwide to work closely with Eluminex Biosciences.”
According to information from the Tianyancha app, Eluminex Biosciences (Suzhou) Limited was established in September 2020, with Zhang Jinzhong serving as its legal representative. Eluminex Biosciences has its headquarters and R&D center located in Suzhou Industrial Park, a business center in Shanghai, and plans to establish an international clinical and regulatory affairs center in the San Francisco Bay Area of the United States.
Eluminex Biosciences was co-founded by Lilly Asia Ventures and two returnee entrepreneurs. Dr. Jinzhong Zhang holds a Ph.D. in Science from a joint program between Peking University and Kyoto University. He previously served as an Assistant Professor of Ophthalmology at the School of Medicine of Case Western Reserve University and as a Principal Investigator for projects funded by the National Eye Institute of the National Institutes of Health (NIH). Dr. Zhang has held senior leadership positions at Bausch + Lomb in the United States, Santen Pharmaceutical in Japan, and Graybug Vision, a U.S.-based ophthalmic startup recently listed on NASDAQ, contributing to the development of multiple marketed innovative ophthalmic products. Dr. Zhenze Hu earned his bachelor’s degree in Pharmacy from China Pharmaceutical University and his Ph.D. from the University of Michigan. With over two decades of focus on the ophthalmology sector, Dr. Hu possesses extensive experience in the research and development of ophthalmic products, clinical needs assessment, international regulatory affairs, technology transfer, and market analysis, both in China and globally.
Eluminex Biosciences also announced that Dr. Charles Semba has joined the company as Chief Medical Officer. Dr. Semba is an internationally renowned expert in ophthalmic drug development. He previously served as Chief Medical Officer at three ophthalmology companies: SARcode Bioscience (acquired by Shire/Takeda), ForSight VISION5 (acquired by Allergan), and Graybug Vision (NASDAQ: GRAY). He also held the position of Vice President, Ophthalmology Medical Affairs at Shire/Takeda, and served as Head of Ophthalmology Clinical Development at Genentech. Dr. Semba successfully led the clinical development of ranibizumab (LUCENTIS), the first blockbuster antibody therapy for wet age-related macular degeneration, and XIIDRA, the first novel dry eye disease treatment to improve both signs and symptoms.
The core team of Eluminex Biosciences also includes two members with distinguished achievements in ophthalmic translational medicine and clinical management, respectively. Dr. Shen Weiyong, an ophthalmologist trained in China and Australia, serves as Vice President of Research at Eluminex Biosciences. He has over 25 years of experience in basic and translational research on retinal diseases and has published more than 90 papers in the fields of ophthalmology and neuroscience. Dr. Li Mei serves as Vice President of Clinical Operations at Eluminex Biosciences. She brings over 20 years of extensive experience in clinical trial management in China and has made significant contributions to the clinical research and registration of multiple imported ophthalmic products for Allergan (China).