Hexin Pharmaceuticals Completes Over RMB 100 Million Series A Financing to Accelerate Development of Radiopharmaceutical Drug Conjugates (RDCs)
VCBeat News learned at the earliest opportunity that,Hexin (Suzhou) Pharmaceutical Technology Co., Ltd. (hereinafter referred to as “Hexin Pharma”) announced the completion of its Series A financing round, exceeding RMB 100 million,This round of financing was co-led by CO-WIN Capital and Sunland Capital, with participation from institutions including Yishang Huicheng. Weidu Capital served as the exclusive financial advisor. The funds will be used to accelerate the clinical development of the company’s multiple integrated oncology diagnosis and treatment products and to expand its product pipeline.
Hexin Pharmaceutical’s R&D pipeline primarily targets various recurrent and refractory tumors. The company holds a globally first-in-class patent for dual-target integrated radiodiagnostic and therapeutic technology. Its lead product, 68Ga-HX01, received the “Notice of Approval for Drug Clinical Trials” from the National Medical Products Administration (NMPA) in June 2022. As the world’s first dual-target radiopharmaceutical to obtain clinical trial approval and one of the first innovative 68Ga-based drugs in China, it has now entered Phase I clinical trials. To date, the company’s second product has entered preclinical development; one Class 1 new drug featuring 177Lu dual-target therapy is in preparation for Investigator-Initiated Trials (IIT), with IIT studies expected to commence in the first half of this year; six Radioligand Drug Conjugate (RDC) candidates targeting different antigens are currently in preclinical development. Commercialization of the first product is projected for 2025.
Wang Ximei, General Manager of Hexin Pharmaceutical, stated:The company’s core strengths lie in its independent R&D innovation capabilities and efficient translation of research into industrial applications. During the startup phase, it requires support from various resources. We sincerely appreciate the investors’ recognition of Hexin Pharma and their trust in the company’s future. We will actively advance project development to deliver returns to shareholders, contribute to the innovative R&D of radiopharmaceuticals, and benefit society.
Xi Yanbin, Partner at CO-WIN’s Beijing Healthcare Fund, stated:Hexin specializes in the integrated diagnosis and treatment of tumors using targeted radionuclides, developing a variety of dual-target radiopharmaceuticals for both diagnostic and therapeutic purposes. This approach achieves comprehensive coverage across its product pipeline, ranging from diagnosis to therapy and from specific tumor diagnostics to broad-spectrum screening solutions. Dual-target radiopharmaceuticals face challenges such as low synthesis efficiency and prolonged molecular screening cycles. Leveraging its independently developed bifunctional chelator platform and high-throughput screening technology, Hexin has significantly enhanced the synthesis efficiency and molecular screening speed of these agents. The dual-target radioligand drugs developed by the company offer advantages including high selectivity, high sensitivity, high affinity, and low background noise, holding promise for improving the sensitivity and specificity of tumor PET imaging and targeted therapy in clinical diagnostics.
Duan Yun, Executive Director of Sunland Capital, stated:Theranostic radiopharmaceuticals represent a new platform technology favored by Shanghai Sunland Investment Management Co., Ltd., offering patients novel therapeutic solutions compared to chemotherapy and targeted drugs. Hexin (Suzhou) Pharmaceutical Technology Co., Ltd. boasts a globally innovative dual-target radiopharmaceutical platform and a diverse pipeline of innovative candidates. Compared with single-target peptide-based radiopharmaceuticals, dual-target agents exhibit superior affinity and specificity, holding promise for the development of drugs with enhanced safety and efficacy profiles. We are also encouraged by Hexin’s experienced team in radiopharmaceutical discovery and preclinical development. We look forward to the rapid market launch of Hexin’s drug candidates, from which cancer patients in China will benefit.
About Hexin Pharma
Hexin Pharmaceutical was registered and established in the Taicang Biomedical Industrial Park in Jiangsu Province in 2020. In 2021, it completed its angel financing round and built a 1,500 m² R&D center, committing to becoming a leading innovative enterprise in integrated targeted diagnostic and therapeutic radiopharmaceuticals both domestically and internationally. The founding team of Hexin comprises founders of listed companies paired with senior scientists specializing in radiopharmaceuticals, combining extensive experience in new drug development with foundational technologies. Over the next five years, the company aims to build an R&D team of approximately 100 members; establish pilot-scale production capabilities with GMP-compliant manufacturing conditions to support Phase II/III clinical trials for multiple products; and maintain a robust product pipeline, with some candidates entering late-stage clinical studies and several others in early preclinical development.
About CO-WIN
Established in 2000, CO-WIN Capital is among the first professional private equity investment firms in China. With 22 years of investment management experience, the firm has successfully invested in over 500 companies and facilitated the domestic and overseas listings of more than 120 enterprises. As a key investment sector, healthcare has seen the firm invest in over 140 companies, helping 22 of them achieve domestic and overseas listings.
About Sunland Capital
Sunland Capital is a professional fund specializing in early-stage investments in the healthcare industry. It focuses on high-growth niche sectors, including innovative medical devices (in vitro diagnostics and gene technologies, minimally invasive interventional devices, implantable devices, minimally invasive surgical instruments, and medical robots), innovative biopharmaceuticals, life sciences, and healthcare services. The firm has invested in more than 50 star enterprises in the medical and pharmaceutical fields. Sunland Capital’s core team comprises founders of listed healthcare companies, as well as professionals with expertise in the medical and pharmaceutical industries, finance, and strategic investment. The firm provides value-added services to its portfolio companies in strategy formulation, talent acquisition, R&D, marketing, legal and regulatory compliance, mergers and acquisitions, IPOs, and access to industry association resources. It also assists portfolio companies in integrating advanced international technologies and establishing global operational concepts and standards, thereby driving their continuous innovation and development.
About Weidu Capital
Weidu Capital specializes in investment banking services and equity investments within the healthcare and medical industry. Grounded in industrial research and investment logic, it gains deep insights into industry development trends and corporate strategic directions. Acting as “entrepreneurs behind entrepreneurs,” Weidu Capital bridges the gap between enterprises and capital, providing comprehensive, one-stop financial services to entrepreneurs and investors, thereby driving robust growth in the healthcare and medical sector.