Guangsheng Pharma Secures Tens of Millions in A+ Round to Accelerate Photodynamic Therapy Innovation

VCBeat has learned that on November 26, 2024, Shanghai Guangsheng Pharmaceutical Co., Ltd. successfully completedTens of Millions of RMB in Series A+ FinancingThis round of financing was led by Shanghai Zhangkeherun Venture Capital Co., Ltd., with participation from Shanghai Science & Technology Investment Co. Ltd. The proceeds will be used to comprehensively bolster and accelerate the R&D and commercialization of the company’s core products in the field of photodynamic therapy.

Notably, this round of financing comes just nine months after the company’s Series A funding, marking its second market-oriented fundraising this year. Amid a somewhat chilly capital market this year, Shanghai Guangsheng Pharmaceutical Co., Ltd. has forged ahead, demonstrating not only the capital market’s support and recognition for novel therapies and new-quality productive forces in the oncology sector, but also bringing a ray of hope to the photodynamic therapy landscape.

Shanghai Guangsheng Pharmaceutical Co., Ltd. is committed to advancing the development of activation-based therapies, such as photodynamic therapy, with a primary focus on the research, development, production, and commercialization of innovative photosensitizers and related products possessing independent intellectual property rights. The company’s current flagship product is the photosensitizer “Sodium Hematoporphyrin for Injection“It is a Class 1 new chemical drug approved by the National Medical Products Administration, and the only photosensitizing agent in China to have entered Phase III registrational clinical trials.”The “Major New Drug Creation Special Project” of China’s 12th and 13th Five-Year PlansAt the 2024 ASCO (American Society of Clinical Oncology Annual Meeting) and 2024 ESMO (European Society for Medical Oncology Congress), Guangsheng Pharmaceutical presented Phase II clinical data and preliminary Phase III results of Hemoporfin in the form of abstracts and posters, respectively, highlighting its product advantages and development potential. It is reported that Hemoporfin has completed its first pivotal Phase III clinical trial. The company expects to submit a New Drug Application (NDA) in the near future, with approval for the treatment of advanced esophageal cancer anticipated within the next few years, thereby opening up a new blue-ocean market in the global oncology therapy landscape.

Photodynamic Therapy (PDT) is an activation-based medical technique that uses laser light of specific wavelengths to activate photosensitizing drugs, generating singlet oxygen that kills tumor cells through oxidative damage and other reactions. Photodynamic therapy offers significant competitive advantages over existing anti-tumor treatments due to its precise targeting of lesion tissues, minimal invasiveness, low side effects, repeatability, and preservation of the original structure and function of tissues. It also presents broad potential for combination therapies.

However, the research and development, manufacturing, and clinical trials of photodynamic therapy in the oncology field are extremely challenging. Existing photosensitizers exhibit low activity and high toxicity, resulting in a global lack of effective anti-tumor photosensitizers.

Since 1997, the R&D team at Shanghai Guangsheng Pharmaceutical Co., Ltd. has relied on the group’s internal funding to overcome challenges and advance the development of photosensitizers. In 2005, they isolated Hematoporphyrin Sodium, which exhibits higher bioactivity. Hematoporphyrin Sodium accumulates in tumor tissues 24 hours after injection, making it aHigh tissue selectivity, high drug activity, and low skin toxicitya novel photosensitizer with differentiated advantages. Preliminary results from preclinical and Phase I/II clinical studies indicate that sodium hemoporfin offers significantly improved efficacy and safety compared to traditional photosensitizers, holding promise for delivering survival benefits to patients through its rapid, minimally invasive local treatment characteristics.

Preliminary Phase III Results of Hemoporfin Sodium Selected as a Poster by ESMO

Shanghai Guangsheng Pharmaceutical Co., Ltd. was established in December 2018 as a key project introduced by the Shanghai International Medical Park in Zhangjiang Science City, Pudong New Area, Shanghai. The company holds the complete intellectual property rights for Hemoporfin Sodium, along with independent rights to its research and development, manufacturing, and commercialization based on photodynamic technology. The company has successfully acquired Plot 31-05 in the International Medical Park of Pudong New Area and is currently undertaking comprehensive construction of its headquarters and R&D center; its GMP-compliant manufacturing facility is already operational. Meanwhile, Guangsheng Pharmaceutical continues to build an R&D and incubation platform for innovative drugs and medical devices related to photoacoustic dynamics, promoting innovative research and development in photodynamic therapy for esophageal cancer, high-grade squamous intraepithelial lesions (HSIL) of the cervix, cholangiocarcinoma, and other non-oncological fields including dermatological conditions.

Schematic Diagram of the Headquarters of Shanghai Guangsheng Pharmaceutical Co., Ltd.

Illuminating All Life, Resonating Endlessly: For two decades, the R&D team at Shanghai Guangsheng Pharmaceutical Co., Ltd. has remained committed to the development of novel photosensitizers. Upholding our belief in the power of light, we have achieved preliminary R&D breakthroughs. Building upon twenty years of profound expertise in the field of photodynamic therapy, we are poised to deliver superior therapeutic efficacy, becoming a beacon of hope for patients worldwide and a shining example of indigenous technological innovation.

Ms. Song Qingting, General Manager (CEO) of Shanghai Guangsheng Pharmaceutical Co., Ltd.“The successful completion of Guangsheng Pharmaceutical’s second round of market-oriented financing this year is a cause for great celebration. We extend our sincere gratitude to investors Shanghai Zhangkeherun Venture Capital Co., Ltd. and Shanghai Science & Technology Investment Co., Ltd. for their recognition and support of our company and the photodynamic tumor therapy sector. In a capital market that has grown somewhat chilly, the warmth shown toward the photodynamic therapy field is all the more precious. Over the past two decades, we have consistently stayed on the difficult yet right path, adhering to our mission of ‘bringing the light of hope to every cancer patient’ and diligently cultivating the field of photodynamic therapy. We are deeply honored that an increasing number of investors and partners are now joining us on this fertile ground. Currently, clinical trials for Hemoporfin Sodium have been successfully completed. Moving forward, we will continue to forge ahead, further exploring the unique advantages and market potential of photodynamic therapy technology, with the aim of introducing next-generation photodynamic therapy solutions to the oncology treatment landscape at the earliest opportunity.”

Mr. Gu Jiefeng, Deputy General Manager of Zhangkeherunstated: “As a localized therapeutic modality, photodynamic therapy can alleviate symptoms in cancer patients and improve their quality of life, demonstrating a high safety profile and unique clinical significance. Shanghai Guangsheng Pharmaceutical Co., Ltd has long been engaged in the research and development of photoacoustic and photodynamic drugs and has completed the clinical trials for its first photodynamic drug. We believe that the market launch of this drug will fill the domestic gap in this field, benefit a broad patient population, and we remain optimistic about the company’s future development.”

Shanghai Guangsheng Pharmaceutical Co., Ltd. was established in December 2018. The company focuses on the research and development, manufacturing, and commercialization of pharmaceuticals and medical devices related to excitatory medical technologies, such as photodynamic therapy (PDT) and sonodynamic therapy (SDT). It is committed to applying excitatory treatment regimens to the management of major diseases, including cancer. As a key project introduced by the Shanghai International Medical Park in Zhangjiang Science City within the Pudong New Area, the company has established its headquarters and R&D center in the Zhangjiang Park. At present, the company has achieved generational breakthroughs in the field of photodynamic therapy. Its core product, the next-generation photosensitizer "Hematoporphyrin Monomethyl Ether for Injection" (HMME), is a Class 1 new chemical drug approved by the National Medical Products Administration. It is the only anti-tumor photosensitizer in China to have entered Phase III registrational clinical trials and was included in the National "Major New Drug Creation" Special Projects during both the 12th and 13th Five-Year Plan periods. The company’s core product is expected to gain marketing approval for the indication of advanced esophageal cancer in the coming years, opening up a new blue-ocean market in the global oncology treatment landscape. In the future, leveraging its advantages in photodynamic technology platforms, the company will continue to advance the R&D and commercial expansion of various photosensitizing drugs, while actively exploring other excitatory treatment modalities such as sonodynamic therapy. By building a globally leading industrial ecosystem for photo-sonodynamic therapies, the company aims to position Chinese domestic enterprises at the forefront of this field worldwide.

Pudong Biopharmaceutical Sub-Fund Phase I – “Zhangke Herun Fund” takes the Pudong Science and Technology Innovation Mother Fund as its cornerstone investor, with Zhangjiang KeTou, a wholly-owned subsidiary of Zhangjiang Group, serving as the fund manager. The fund introduces social capital and professional expertise, adopting market-oriented approaches for investment and management. With a total size of RMB 3 billion, Phase I amounts to RMB 1 billion. Deeply rooted in Zhangjiang and serving Pudong, the fund focuses on high-potential, high-quality enterprises in life and health-related sectors, including innovative drugs, medical devices, and healthcare services, thereby supporting the development of Pudong’s biopharmaceutical industry.