Zedeman Pharma Secures RMB 100 Million Series A Financing to Accelerate AhR-Targeted Innovative Drug Development; WinX Capital Serves as Exclusive Financial Advisor

Recently, Shanghai Thederma Pharmaceutical Technology Co., Ltd. (hereinafter referred to as “Thederma Pharma”) announced the completion of its RMB 100 million Series A financing round. The round was led by Bainuo Capital, with participation from Beida Fund, while existing angel investor Hankang Capital continued its support. Kaicheng Capital served as the exclusive financial advisor. The proceeds from this financing will be primarily used to accelerate the research and development and clinical studies of multiple therapeutic candidates targeting the aryl hydrocarbon receptor (AhR) for the treatment of autoimmune and inflammatory diseases.

Dr. Chen Genghui, CEO of thedermastated: “We sincerely appreciate the recognition and trust shown by investors in this round towards Thederma. This investment provides strong support for accelerating our product R&D. Thederma has established an AhR target technology platform with exceptional execution, building a rich pipeline and project reserve of AhR-targeted products, which continuously supports and drives the company’s valuation. Moving forward, we will remain committed to meeting patients’ clinical needs by building an international team and advanced technological capabilities to develop innovative AhR-targeted drugs with global competitiveness, striving to become a global leader in this field.”

Wang Guangjun, General Manager of Bainuo Capitalstated: “While Bainuo Capital is committed to supporting corporate growth, we place even greater emphasis on the profound impact companies can make on society and patients. Thederma possesses exceptional strength and unique advantages in the field of therapeutics for autoimmune inflammatory diseases targeting the AhR pathway, thereby addressing substantial unmet clinical needs. We believe that under the leadership of Dr. Chen Genghui, Thederma will emerge as a leading enterprise in China’s AhR-targeted drug sector, effectively meeting patients’ medication needs. We fully support Thederma in advancing its product clinical trials to achieve rapid development.”

Beida Fundstated: “Dr. Chen Genghui is a pioneer and leading figure in the development of innovative AhR-targeted therapeutics. His invention and development of the world’s first topical novel drug targeting AhR have had a profound impact on the treatment of patients worldwide. We are deeply impressed by the global strategic vision, innovative layout, and exceptional execution capabilities of thederma’s team under Dr. Chen’s leadership. We fully support thederma in advancing its clinical development and look forward to greater breakthroughs in the field of AhR-targeted therapies.”

Liu Jieqiong, Managing Director of Hankang Capital“TheDermA was fortunate to establish a partnership and engage in deep collaboration with Hankang Capital at the very inception of the company. We highly recognize Dr. Chen Genghui’s academic and industrial expertise in the field of autoimmune diseases, which has enabled him to rapidly build a multidisciplinary team of young talent with international-caliber capabilities in R&D, clinical development, and commercialization. We are very optimistic about TheDermA’s continued dedication to the AhR pathway and autoimmune disease sector, and we are committed to providing ongoing support as the company develops a series of innovative products to address unmet clinical needs.”

Dr. Zou Guowen, Founding Partner of Kaicheng Capitalstated: “We extend our sincere gratitude to thederma’s team for their trust in Kaicheng Capital, and to all new and existing shareholders for their strong support. It is an honor to have facilitated thederma’s completion of this financing round. There is a large patient population suffering from AhR target-related diseases, with an urgent need for innovative therapies. As the inventor of the world’s first topical novel drug targeting the AhR pathway, Dr. Chen Genghui, CEO of thederma, has led the company in developing innovative drugs for AhR-related indications, combining high market demand with scientific innovation. We believe that, with the support of shareholders and experienced clinical principal investigators (PIs), the company will emerge as a leading enterprise in China’s AhR target field, delivering significant clinical benefits to patients.”

AhR is a ligand-activated transcription factor that senses various endogenous and exogenous molecules and influences biological effects, serving as a crucial immune regulator in the human body. AhR is expressed in multiple tissues, with particularly widespread expression in the epidermis and mucosal tissues. Hailed as a “super target,” it holds potential for therapeutic applications across a broad range of diseases. AhR-targeted therapies for autoimmune and inflammatory diseases span multiple fields, including gastroenterology, respiratory medicine, ophthalmology, and dermatology. The global market for autoimmune disease drugs is projected to reach $163.8 billion by 2030, indicating substantial prospects for market development.

Thederma Pharmaceuticals is a global innovative drug R&D company focused on the development of therapeutics for autoimmune and inflammatory diseases targeting the AhR pathway. As a pioneering leader in the field of international novel small-molecule immunotherapies, Dr. Chen Genghui, CEO of Thederma Pharmaceuticals, is a co-inventor of the world’s first topical AhR-targeting novel drug (First-in-class) and has spearheaded its entire lifecycle from discovery and clinical development to industrialization and regulatory approval. The drug has been approved for marketing in both China and the United States, marking it as the first domestically developed original topical novel drug to be launched in China before overseas markets. Dr. Chen brings nearly 30 years of experience in novel drug R&D and industrialization in this field and holds more than 30 pharmaceutical invention patents. The company’s core management team hails from renowned pharmaceutical R&D enterprises both in China and abroad, with extensive expertise in innovative drug research, medical translation, and industrialization across therapeutic areas including gastroenterology, respiratory medicine, ophthalmology, dermatology, and the nervous system.

Shanghai Bainuo Private Equity Fund Management Co., Ltd. is a professional investment firm specializing in the domestic and international biopharmaceutical sectors. As a mixed-ownership professional pharmaceutical investment institution with state-owned equity participation, its core team members possess extensive scientific research and industrial backgrounds in the pharmaceutical field, along with substantial investment experience and a strong track record of performance. Adhering to the principles of value investing and long-term investment, Bainuo Capital is committed to comprehensively supporting the industrial upgrading and development of China’s biopharmaceutical sector.

The Beida Biopharmaceutical Industry Fund is an equity investment fund established with Dr. Ding Lieming, Chairman and CEO of Beta Pharma Inc., as one of the main initiators. The fund manager is Hangzhou Beijia Investment Management Co., Ltd. Focusing on the broader healthcare sector, the fund prioritizes investments in biopharmaceuticals, in vitro diagnostics, and innovative medical devices. Centered around top-tier industry experts and leading figures in the pharmaceutical sector, the fund leverages its core team’s extensive experience and resources in R&D and industrialization to provide comprehensive support to portfolio companies throughout all stages of development.

Hankang Capital is a venture capital fund dedicated to the pharmaceutical and healthcare industries. Guided by its mission to “empower pharmaceutical innovation and safeguard human health,” the fund collaborates with leading scientists and entrepreneurs to jointly develop breakthrough novel drugs for the treatment of major diseases. Rooted in China with a global perspective, Hankang Capital has invested in numerous companies that have grown into industry leaders, including InnoCare Pharma (09969.HK), Akeso Biopharma (09926.HK), Keymed Biosciences (02162.HK), Chipscreen Biosciences (688321.SH), Abbisko Therapeutics (02256.HK), and OPM Biotech (688293.SH).

WinX Capital is a leading investment bank in China’s healthcare sector. Headquartered in Beijing and Shanghai, it serves over 3,000 active institutional investors and industrial groups. From 2020 to 2022, WinX Capital was consecutively recognized by Qimingpian & Xinsheng Chuangfu as “Top 2 Best Financial Advisors in Healthcare (2021–2022),” “Top 4 Best Financial Advisory Firms in Healthcare (2020),” “Top 10 Most Active Financial Advisors (2021),” “Top 6 Comprehensive Financial Advisors (Mid-2022),” and “Top 7 Most Active Financial Advisors (Mid-2022).” It was also listed among 36Kr’s “Top 5 Most Promising Emerging Investment Banks in China (WISE 2020/2021)” and ranked as one of VCBeat’s “Top 5 Healthcare Financial Advisors of the Year (2022 Pengcheng Awards).”