ICE Bioscience Completes B++ Financing Round to Advance Target-Driven Drug Discovery Platform

VCBeat has learned at the earliest opportunity that,Beijing ICE Bioscience Inc. (ICE Bioscience, hereinafter referred to as “ICE Bioscience”)Announced the completion of its B++ round financing in recent days. This round of financing was led byBeijing E-town International Investment&DevelopmentLead Investor, Existing ShareholdersAlwin InvestmentContinue to increase shareholdings.G&G CapitalServed as the exclusive financial advisor for this round of financing. This marks another swift endorsement from the capital market for ICE Bioscience, following its nearly RMB 100 million financing completed in August 2023. The proceeds from this round will support ICE Bioscience in delivering more advanced and high-quality services to pharmaceutical companies both in China and overseas.

Figure 1 ICE Bioscience Inc.

ICE Bioscience was co-founded in 2010 by Dr. Yan Li and Dr. Li Yingji upon their return to China. After more than a decade of innovative R&D, ICE Bioscience has evolved from a startup focused on ion channel target-based drug screening into a globally leading biology CRO for new target-based drug discovery. Focusing on novel targets, methodologies, and technologies in drug discovery, the company has established an integrated, target-driven drug discovery biology platform. It has served over 1,000 pharmaceutical R&D enterprises worldwide, building a comprehensive, end-to-end service platform that spans multiple dimensions—including molecules, cells, tissues, organs, and animals—from drug target validation to in vivo pharmacodynamic validation. Each year, ICE Bioscience supports dozens of R&D projects in filing Investigational New Drug (IND) applications.

The technical platforms established by ICE Bioscience include:

• Target-Based Drug Screening Platform:We have established screening cell lines for over 100 ion channels, 200 GPCR receptors, more than 1,000 kinase and enzymatic targets, and over 40 classes of nuclear receptors. Additionally, we have developed tens of thousands of target-specific screening assays. Centered on modular screening technologies, we have created distinctive Biology Building Blocks to provide customers with an “integrated” drug discovery service.

• In Vitro and In Vivo Efficacy Screening and Evaluation Platform:Including in vitro and in vivo pharmacodynamic evaluations based on cell, tissue, or animal models in the fields of tumor immunology, cardiovascular diseases, central nervous system disorders, and metabolism;

• Early-Stage Druggability Screening and Evaluation Platform:ICE Bioscience has established specialized drug early developability research portfolios, including the Safety Panel, Drug Addiction Potential Panel, Central Nervous System (CNS) Max Panel, Kinase Profiling Panel, and Cell Panel, as well as platforms for hERG cardiac safety, early ADME, and PK studies, helping clients mitigate late-stage risks.

In recent years, ICE Bioscience has achieved exciting milestones in drug discovery, including drug target validation, high-throughput screening, in vitro druggability assessment based on multi-target panel screening, central nervous system (CNS) therapeutics, novel antibody-drug conjugates (ADCs), protein degraders, and AI-driven drug discovery. ICE Bioscience remains committed to delivering the most efficient and high-quality R&D services to its clients, empowering global partners to enhance efficiency, reduce costs, and sustain innovation amidst challenging industry conditions.

Dr. Li Yingji, Founder and General Manager of ICE BioscienceHe stated, “We extend our gratitude to the investors in this round, Beijing E-town International Investment&Development and Alwin Investment, for their recognition of ICE Bioscience. We also thank our existing shareholders for their support, which has enabled ICE Bioscience to successfully complete this financing round. Amidst the current pressures on the global economy, ICE Bioscience continues to observe strong, sustained investment in innovation by many innovative drug companies at the forefront. We are grateful to our numerous domestic and international clients for choosing ICE Bioscience. We remain committed to delivering the most professional and efficient services and leveraging our leading platform-based innovation capabilities to continuously create value for our clients, striving to become the most trusted partner in the era of Innovative Drugs 2.0 and under the new global landscape of innovative pharmaceuticals.”

Beijing E-town International Investment&Development Co.,Ltd. (hereinafter referred to as “E-town State-owned Capital”) was established in February 2009. It is a state-owned capital investment and operation company dedicated to promoting industrial development and technological innovation in Beijing. Adhering to its functional positioning as a “specialized, market-oriented, and value-driven industry-empowering investment platform,” E-town State-owned Capital focuses on four key industries: next-generation information technology, biotechnology and general health, new energy intelligent vehicles, and robotics and intelligent manufacturing. The company deeply engages in four core business areas: industrial investment, fund management, sci-tech finance, and IT application innovation bases, actively contributing to the construction of Beijing’s “Four Centers.” To date, the company’s total assets exceed RMB 100 billion, with over 200 investment projects under management and a total committed investment exceeding RMB 90 billion.

Alwin Capital is a specialized investment fund focused on the frontiers of life sciences. Its founding team has twenty years of deep experience in China’s pharmaceutical industry, combining industrial and financial expertise with extensive investment research capabilities. In recent years, guided by rigorous research, organized along scientific disciplines, and underpinned by a comprehensive investment research framework and mature portfolio management, Alwin Capital has systematically positioned itself in cutting-edge areas of life sciences in China. It has nurtured several leading companies in fields such as gene editing, nucleic acid therapeutics, cell therapy, and molecular diagnostics. Additionally, leveraging keen investment judgment, it has backed multiple standout projects at the intersection of innovative technologies and life sciences.

Related Reading: “Exclusive Interview with ICE Bioscience: Concurrent Order Volume Surges by 150%—What Sets Target-Driven Drug Discovery CRO Services Apart?”