Jinghe Bio Secures Nearly RMB 100 Million in Series A+ Financing to Advance Global Development of TRT Pipeline

Bivision Pharmaceuticals, a biotechnology company specializing in theranostic targeted radionuclide therapy (TRT), recently announced the completion of its Series A+ financing round, raising nearly RMB 100 million. This marks the company’s second fundraising round within six months, following its Series A financing in July 2024.

This funding round was jointly invested by Sany Innovation and CICC Nuosige Fund under CICC Capital, with existing shareholder Gaorong Ventures continuing to increase its investment. Qidian Capital served as the financial advisor for this round. The proceeds will be primarily used to advance the clinical development of JH02, submit the Investigational New Drug (IND) application and conduct clinical development for JH04, as well as support preclinical studies and Investigator-Initiated Trials (IITs) for multiple subsequent global innovative pipeline assets. The company will also continue to advance its global strategy, including initiating overseas clinical trials and pursuing collaborative development opportunities for international rights to its projects.

Bivision Pharmaceuticals, founded in 2021 by four seasoned scientists specializing in targeted radiopharmaceuticals, possesses extensive experience in the development and successful commercialization of multiple innovative radiopharmaceuticals. The company is dedicated to developing next-generation Targeted Radionuclide Therapy (TRT) to improve patients’ quality of life.

In recent years, targeted radiopharmaceuticals have entered a "fast lane" of innovative development, emerging as one of the major novel therapies poised for rapid growth in the future. They have been widely used in the diagnosis and treatment efficacy assessment of tumors, central nervous system disorders, and cardiovascular diseases. By leveraging targeting molecules to deliver high-energy radioactive isotopes, targeted radiopharmaceuticals can selectively kill and treat tumor cells, making them a new hotspot in oncology therapy. In the first three quarters of 2024, Novartis’s targeted radiopharmaceutical Pluvicto achieved global sales of $1.041 billion, representing a 47% year-on-year increase. This demonstrates that targeted radiopharmaceuticals have firmly entered the ranks of blockbuster drugs.

To date, Bivision Pharmaceuticals has established a proprietary technology platform for the development of targeted radiopharmaceuticals, dedicated to ligand screening, modulation of coupling factors (J-Linker), and clinical translation. Through its J-Linker multifunctional conjugation platform, the company can effectively increase drug exposure at disease sites while reducing exposure in other organs, thereby delivering improved therapeutic efficacy and a wider safety window for its R&D pipeline. Patient enrollment for the Phase I registrational clinical trial of its lead candidate, JH02, has been completed. Meanwhile, investigator-initiated trials (IIT) are underway for JH04, a theranostic molecule targeting multiple tumor indications, and its Investigational New Drug (IND) application is being expedited.

Dr. Yu Haihua, Founder & CEO of Bivision PharmaceuticalsStatement: Completing two rounds of financing, Series A and Series A+, within six months amid the current funding trough demonstrates the confidence of China’s top-tier and renowned investment institutions in Bivision Pharmaceuticals’ biotechnology platform and its projects under development. Meanwhile, the continued capital injection by existing shareholders affirms the project’s progress. We will steadfastly advance Bivision Pharmaceuticals’ dual-pipeline R&D strategy driven by both Best-in-Class (BIC) and First-in-Class (FIC) candidates on a global scale, striving to deliver novel TRT therapeutics to patients at the earliest opportunity and address critical unmet clinical needs.

Sany InnovationStatement: We are honored to participate in this round of financing for Bivision Pharmaceuticals. Targeted Radionuclide Therapy (TRT), as a significant innovation in the field of tumor-targeted therapy, combines the therapeutic properties of radionuclide radiation with the precision of targeted drugs, providing a novel solution for cancer treatment. With major multinational pharmaceutical companies entering the market, the TRT industry is ushering in significant development opportunities, and First-in-Class (FIC) drugs targeting new targets and molecules are urgently needed products globally. Bivision Pharmaceuticals boasts an experienced, pragmatic, and efficient drug R&D team. Furthermore, the company’s unique technology platform will drive continuous innovation in its product pipeline.

CICC Nuosige Fund TeamBivision Pharmaceuticals boasts a world-class, international R&D team and a global innovation perspective. Since its establishment, the company has made rapid progress in developing first-in-class (FIC) pipelines targeting novel targets and molecules. Notably, its PSMA-targeted prostate cancer project has received Investigational New Drug (IND) approval in both China and the United States, with clinical development ranking among the leading tier domestically. It has the potential to become the first domestic best-in-class (BIC) innovative targeted radiopharmaceutical. Meanwhile, its new pipeline holds significant potential for entering the international market. We remain firmly optimistic about Bivision Pharmaceuticals’ development prospects in the field of targeted radiopharmaceuticals and look forward to delivering better, more accessible innovative therapies to cancer patients.

Dr. Jingyi Liu, Gaorong VenturesStatement: Gaorong Ventures’ continuous investment in Bivision Pharmaceuticals across three consecutive rounds fully demonstrates our confidence in the execution capabilities of the Bivision team and the progress of its new drug R&D, particularly in the development of novel targets for radiopharmaceuticals empowered by its technology platform. Meanwhile, the rapid advancement of its Best-in-Class (BIC) and First-in-Class (FIC) pipelines, along with promising clinical data, convinces us that Bivision Pharmaceuticals has the potential to become a world-class innovative radiopharmaceutical company, showcasing the strength of China’s innovative radiopharmaceuticals on the global stage.

CICC Capital is the private equity fund business operating platform of China International Capital Corporation Limited (“CICC”), managing CICC’s onshore and offshore private equity fund businesses, and has developed into one of China’s leading private investment management institutions. Currently, the types of funds managed by CICC Capital cover RMB corporate equity investment funds, funds of funds, infrastructure funds, USD corporate equity investment funds, and more. The CICC Nuosige Fund is an equity investment fund focused on the healthcare sector, jointly established through collaborative capital contributions from CICC Capital Operations Co., Ltd., relevant parties of Nuosige (Beijing) Technology & Medicine Co., Ltd., and other investors.

Beijing Baixun Investment Management Co., Ltd. (“Baixun Innovation Investment”) is a private equity and venture capital firm focused on innovation in the pharmaceutical industry. Its limited partners include renowned enterprises in the pharmaceutical sector and leading financial investment institutions. Adhering to the philosophy of “integrating scientists, professional managers, and investors as one entity—letting professionals handle their respective specialties, and leveraging science to serve health,” Baixun Innovation Investment leverages capital ties to integrate resources. It supports scientists in translating research achievements into applications, assists professional managers in building entrepreneurial platforms, and fosters a cohort of innovative biopharmaceutical companies, thereby enabling science to serve health and benefit patients. Committed to growing alongside its portfolio companies and entrepreneurs, Baixun Innovation Investment utilizes its industry expertise and resource network to help portfolio companies maximize the realization of their technological value.

Gaorong Ventures, established in 2014, specializes in early-stage and growth-stage investments, with a focus on innovative and entrepreneurial sectors such as new technologies, healthcare, the internet, and new consumption. To date, 24 companies invested in or held by Gaorong have gone public, with many emerging as leaders in their respective industries, including Pinduoduo, BOSS Zhipin, Roborock, Huya Live, and ProfoundBio. Gaorong remains committed to the healthcare sector, identifying and supporting leading enterprises in areas such as new drug development, medical devices and diagnostics, digital health, and healthcare services.