Guangsheng Pharmaceuticals Secures Over RMB 100 Million in Series A Funding to Advance Photodynamic Therapy Innovation

Recently,Shanghai Guangsheng Pharmaceutical Co., Ltd. Successfully Completes Over RMB 100 Million in Series A FinancingThis round of financing was exclusively invested by Oriental Fortune Capital, and the funds will be used to fully accelerate the company's R&D of new products in the field of photodynamic therapy and the commercialization of its first product.

Shanghai Guangsheng Pharmaceutical Co., Ltd. is dedicated to advancing excitatory therapies such as photodynamic and sonodynamic therapy, with a primary focus on the research, development, manufacturing, and commercialization of innovative photosensitizers and related products possessing independent intellectual property rights. The company’s flagship product, Hemoporfin for Injection, an anti-tumor photosensitizer, is a Class 1 new chemical drug approved by China’s National Medical Products Administration. It is the only anti-tumor photosensitizer in China to have entered Phase III registrational clinical trials and has been included in the National Major Special Project for New Drug Innovation during both the 12th and 13th Five-Year Plan periods. Currently, patient enrollment for the first Phase III registrational clinical study of Hemoporfin is nearing completion. The drug is expected to gain marketing approval in the coming years for the indication of advanced esophageal cancer, thereby opening up a new blue-ocean market in the global oncology therapeutics landscape.

Photodynamic Therapy (PDT) is an activatable medical technology that employs laser light of specific wavelengths to activate photosensitizing drugs, generating singlet oxygen that kills tumor cells through oxidative damage and other reactions. Photodynamic therapy features precise targeting of pathological tissues, minimal invasiveness, low side effects, repeatability, and preservation of the original structure and function of tissues. It offers significant differentiated competitive advantages over existing anti-tumor treatment modalities and presents broad potential for combination therapies.

On April 28, 2023, the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) issued the “Technical Guidelines for Clinical Development of Antineoplastic Photodynamic Therapy Drugs (Trial),” which has significantly encouraged the clinical development and application of antineoplastic photodynamic therapy drugs. The guidelines explicitly state: “As one of the options in the comprehensive treatment of solid malignant tumors, photodynamic therapy can compensate for the limitations of current conventional therapeutic modalities (surgery, radiotherapy, chemotherapy, targeted therapy, and immunotherapy), demonstrating certain advantages in the treatment of lung cancer, esophageal cancer, skin tumors, and head and neck tumors.”

The research and development, manufacturing, and clinical trials of photodynamic therapy (PDT) in the oncology field are extremely challenging. Existing photosensitizers on the market suffer from low activity and high skin toxicity, resulting in a persistent global shortage of effective photosensitizers for anti-tumor treatment. For over two decades, the R&D team at Shanghai Guangsheng Pharmaceutical Co., Ltd. has persevered in overcoming these challenges. Supported by the group’s internal funds, the scientific team initiated photosensitizer research in 1997 and successfully isolated Hemoporfin Sodium, a core component with higher activity, in 2005. Twenty-four hours after injection, Hemoporfin Sodium accumulates in tumor tissues, maintaining high local exposure. As a novel photosensitizer, it offers differentiated advantages, including high tissue selectivity, high drug activity, and low skin toxicity. Current preclinical and Phase I/II clinical study results demonstrate that Hemoporfin Sodium significantly improves efficacy and safety compared to traditional photosensitizers with unclear active ingredients.

Shanghai Guangsheng Pharmaceutical Co., Ltd., established in December 2018, is a key project introduced by the Zhangjiang Medical Park in Pudong New Area, Shanghai. The company holds the complete intellectual property rights for Hemoporfin Sodium, as well as the independent rights to research and development, manufacturing, and commercialization based on photoacoustic dynamic technology. The company has successfully acquired Plot 31-05 in the International Medical Park of Pudong New Area and is currently fully constructing its headquarters and R&D center. The GMP-compliant manufacturing facility is expected to be delivered and put into use in the first half of 2024. Meanwhile, Guangsheng Pharmaceutical will continue to build an R&D and incubation platform for innovative drugs and medical devices related to photodynamic and sonodynamic therapies, promoting innovative R&D in China across multiple fields, including esophageal cancer, colorectal cancer, glioma, high-grade squamous intraepithelial lesion (HSIL), and other non-oncological indications. In addition to independently developing new drugs, the company will participate in new drug R&D projects with domestic and international universities and research institutions through various forms to facilitate the implementation of innovative achievements. It is reported that the first indication intended for regulatory submission for Hemoporfin Sodium is locally advanced or metastatic advanced esophageal cancer.

Groundbreaking Ceremony for the Headquarters and R&D Center Project of Shanghai Guangsheng Pharmaceutical Co., Ltd.

Shanghai Guangsheng Pharmaceutical Co., Ltd. has persisted for two decades in the research and development of novel photosensitizers, believing in the power of light and achieving preliminary R&D breakthroughs. Leveraging its profound expertise accumulated over twenty years in the field of photodynamic therapy, the company is poised to deliver superior therapeutic efficacy, becoming a beacon of hope for patients worldwide and a shining example of national innovation in science and technology.

Ms. Song Qingting, General Manager (CEO) of Shanghai Guangsheng Pharmaceutical Co., Ltd., stated:“Given the immense challenges in the research and development and clinical trials of photodynamic drugs, applying photodynamic technology to the treatment of major diseases such as cancer has long been regarded as a key research direction in the field of photodynamics. We have been deeply engaged in this arena for over two decades. For twenty years, we have persevered on the difficult yet right path, firmly believing that the unique advantages of photodynamic technology will serve as the perfect missing piece in cancer therapy, and that photodynamic therapy will become a disruptive solution transforming the landscape of cancer treatment. We are delighted to have achieved globally leading R&D outcomes and clinical results in the field of photodynamic cancer therapy. We extend our gratitude to Oriental Fortune Capital for their recognition of our company. Looking ahead, we will remain committed to the R&D of photodynamic therapy and other activatable therapies, striving to bring the light of hope to every cancer patient as soon as possible.”

Li Xiaonan, Deputy General Manager of the Shanghai Management Headquarters and Partner at Shenzhen Oriental Fortune Capital Co., Ltd., stated:“By continuously tracking startup projects in medically advanced regions such as Zhangjiang, our team has identified Guangsheng Pharmaceutical, a highly distinctive new drug R&D company in the field of photodynamic therapy. As an industry leader in treating tumors with activatable medical technologies, Guangsheng Pharmaceutical’s core product, Hemoporfin Sodium, is poised to become a Best-in-Class drug. It offers clinical advantages unmatched by traditional products, which will further unlock its market potential, benefit more patients, and help Guangsheng grow into a market leader in its niche segment.”

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

In the future, Shanghai Guangsheng Pharmaceutical Co., Ltd. will leverage the pharmaceutical talent and resource advantages of Zhangjiang in Pudong, Shanghai, to build a globally leading photoacoustic dynamic industry ecosystem, gradually evolving into a diversified innovative pharmaceutical company centered on photoacoustic dynamics.

Shanghai Guangsheng Pharmaceutical Co., Ltd. was established in December 2018. The company specializes in the research and development, manufacturing, and commercialization of pharmaceuticals and medical devices related to excitatory therapeutic 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 Pudong New Area into the Zhangjiang Medical Park, the company has established its headquarters and R&D center within 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” (also known as HMME or Photocyanine), 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 receive marketing approval for the indication of advanced esophageal cancer in the coming years, thereby 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 therapeutic approaches such as sonodynamic therapy. By building a globally leading industrial ecosystem for photoacoustic dynamic therapies, the company aims to position Chinese domestic enterprises at the forefront of this field worldwide.

SME Development Fund (Chengdu) Jiaozi Venture Capital Partnership (Limited Partnership) (“Chengdu Fund”) is a national-level fund established with the approval of the Executive Meeting of the State Council, spearheaded by five ministries and commissions—the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the State Administration for Industry and Commerce—as well as the National SME Development Fund Co., Ltd., with Shenzhen Oriental Fortune Capital Co., Ltd. serving as the fund manager. The Chengdu Fund aims to align with national policy objectives for promoting the innovative development of small and medium-sized enterprises (SMEs), expand equity investment in SMEs through market-oriented mechanisms, and prioritize accelerating the growth of seed-stage and early-stage high-growth SMEs, thereby playing an active role in fostering new business formats, new models, new growth drivers, and new momentum. With a total size of RMB 5 billion, the Chengdu Fund focuses on investing in strategic emerging industries of national importance, including information technology, healthcare, semiconductors, new materials, and new energy.