BoQuan Bio Secures Over RMB 100 Million in Pre-A Financing to Advance Novel Targeted Oncology Drug Development

VCBeat has learned at the earliest opportunity that,Shanghai Baiquan Biotechnology Co., Ltd. (hereinafter referred to as “Baiquan Biotech”)Completed RecentlyOver RMB 100 Million Pre-Around of financing. This round of financing was led byCoWin VenturesLead investor,Hongke BaishiandSangel CapitalCo-investment, Angel Round InvestorSHCAdditional Investment,BFC GroupServed as the exclusive financial advisor to Baiquan Biologics in this transaction.

The proceeds from this round of financing will be used to accelerate the development of a pipeline of tumor immunotherapy products targeting novel mechanisms, particularly the preclinical and clinical studies of the lead candidate.

Over the past decade, since the sequential launches of Opdivo and Keytruda, checkpoint antibodies have unlocked a vast market. However, PD-(L)1 inhibitors face significant challenges and development difficulties in expanding their indications, while other hot immuno-oncology (IO) targets have struggled to demonstrate efficacy as monotherapies. There is substantial clinical demand for novel IO target antibodies.

Founded in 2019, BioTroy Therapeutics is an innovative pharmaceutical company dedicated to target discovery through integrated oncology translational medicine research. The company’s founder, Professor Xu Jie, has deep expertise in the regulatory mechanisms of tumor immune checkpoints and translational oncology research. He has elucidated novel regulatory mechanisms in pathways such as PD-1/PD-L1, p53, MAPK, NF-κB, WNT, and RhoGAP, and published multiple papers in Nature and Cell subsidiary journals. BioTroy Therapeutics has established several research platforms, including the BioTroy Engine for multi-omics analysis, receptor-ligand discovery, target signal transduction pathway research, antibody discovery and engineering, in vivo efficacy and large-animal translational medicine, and biomarkers and precision medicine. Committed to original "zero-to-one" target discovery and global intellectual property layout, the company advances the development of first-in-class (FIC) new drugs based on robust scientific data and cutting-edge translational medicine concepts. Its primary pipeline focuses on tumors refractory to PD-1/PD-L1 inhibitor therapy; key IND-enabling studies have been completed with encouraging results. Following the completion of this round of financing, the company will accelerate the clinical development of its core pipeline.

Dr. Xu Jie, Founder of Baiquan Bio and National Leading Talent in Technological Innovation“The field of oncology immunotherapy drug development in China has historically lacked target-level innovation. Baiquan Bio is dedicated to the discovery of novel targets and global intellectual property layout, challenging cancers that were previously considered untreatable, and firmly upholding the philosophy of science-driven drug innovation. The company is pleased to have received support from numerous investors in this financing round. Looking ahead, Baiquan is confident in advancing its breakthrough antibody drugs into clinical stages, bringing new hope to cancer patients.”

Dr. Huang Xin, Managing Partner of CoWin Venturesstated: “Boquan Bio is a company focused on tumor immunity ‘first-in-class’’As a frontier enterprise in novel target discovery, Dr. Xu has amassed profound expertise in tumor immunology and translational medicine. The biological rationale underlying its target discovery is clear, supported by multi-faceted evidence from mechanistic studies. More remarkably, the product has already demonstrated encouraging results in its early stages. Adhering to the philosophy of supporting “original disruptive technologies,” CoWin Ventures has invested in multiple enterprises within the realm of original biopharmaceutical innovation. We are honored to serve as the lead investor in this round. Sharing a highly aligned vision and long-term strategic planning with Dr. Xu and his team at Baiquan Bio, we are committed to providing full support to help Baiquan Bio achieve new breakthroughs in the global field of tumor immunotherapy.”

Dr. Wang Wenjun, Managing Partner of Hongke Baishi“The immune checkpoint inhibitors represented by PD-1/L1 antibodies have not only brought significant benefits to cancer patients but also achieved unprecedented sales in the field of anti-tumor drugs. As a company dedicated to developing global First-in-Class drugs, Baiquan Biologics is poised to bring hope to patients who are insensitive to PD-1 antibody therapy. Hongke Baishi Fund is honored to participate in this round of financing and believes that under the leadership of founder Dr. Xu Jie, the company will leverage its advantages from original research and tap into the enormous potential market value of its products.”

Liu Mulong, Founding Partner and Chairman of Sangel Venture CapitalMr.It stated: “Boquan Biology is an innovative enterprise that has established a platform for the discovery of novel immune escape targets and the development of corresponding drugs, demonstrating strong innovativeness and significant potential. The biological mechanisms underlying its immune escape targets are well-defined, suggesting they likely represent a compensatory pathway for immune escape. The product exhibits evident broad-spectrum anti-tumor potential in clinical settings. We believe that, under the leadership of Dr. Xu and his team, the company will bring more treatment opportunities to cancer patients.”

Guo Qiushan, President of the Shanghai Biopharmaceutical Innovation and Translation FundMr.stated: “Baichuan Bio’s BT1 and BT2 pipelines represent globally significant, original innovative translational achievements. In the crowded field of immune checkpoint (IO) development, they possess clearly differentiated mechanisms and advantages, marking a breakthrough discovery in the realm of tumor immune escape. Since its angel financing round, Baichuan Bio has achieved numerous milestones in team building, pipeline R&D, and patent portfolio strategy. As angel investors, we are delighted that Baichuan Bio and the team led by Dr. Xu Jie have gained recognition from more investors. We will continue to strongly support the company’s development and accelerate the clinical development and application of its pipelines.”