SynRx Therapeutics Secures Over RMB 100 Million in Pre-A Financing to Advance Innovative DDR-Targeted Drug Pipeline

VCBeat has learned that Hangzhou SynRx Therapeutics, LLC (SynRx Therapeutics, hereinafter referred to as “SynRx”) recently completedOver RMB 100 Million in Pre-A Series Financing, with investors including Longpan Investment, Haibang Fenghua, West Lake Innovation Investment, Liyi Pharmaceutical, and other well-known investment institutions. The funds from this round of financing will be used forExpand the Company’s R&D Capabilities in Its Innovative Drug Pipeline for DNA Damage Repair (DDR), Continuously Empowering the Discovery of Novel Mechanism-Based Innovative Drugs。

Professor Yu Xiaochun, Chairman of SynRxTherapeuticsexpressed deep gratitude to all investors for their recognition and support of SynRx Therapeutics. The company has currently established a robust R&D pipeline with first-in-class potential, among which representative projects are approaching the Preclinical Candidate (PCC) selection stage. Since settling in Hangzhou Future Sci-Tech City in 2021, SynRx Therapeutics has rapidly established and operationalized two R&D centers in Hangzhou and Shanghai, assembled a professional R&D team with extensive experience, and successfully advanced the construction of its technology platforms and project implementation. With the support of capital, SynRx Therapeutics is confident in accelerating its innovative product pipeline into clinical trials, thereby providing better treatment options for cancer patients.

SynRx Therapeutics focuses onDNA Damage Repair Field, with the pipeline focused onDrug Development Targeting Next-Generation Synthetic Lethality, dedicated to the research and development of original, innovative anti-tumor drugs with independent intellectual property rights. Building on Professor Yu Xiaochun’s academic research, the company has established China’s only specialized technology platform in this niche sector, which has been successfully applied to the development of drugs targeting multiple novel synthetic lethality targets.

Professor Yu Xiaochun, the founder, is a recognized expert in the field of DNA damage response (DDR), with over two decades of deep engagement in the area and a profound understanding of drug development. The company has assembled a world-class R&D team with extensive industrial experience in drug discovery and development; its core members hail from multinational pharmaceutical companies and leading organizations such as Novartis, Hengrui Medicine, Qilu Regor, and WuXi AppTec. Furthermore, the company has established collaborations with prestigious institutions including Westlake University and Zhejiang University, and has independently developed a robust suite of specialized bioassay methods and evaluation systems, laying a solid foundation for the advancement of its project pipeline.

In 2022, SynRxTherapeutics achieved key breakthroughs in multiple important R&D pipelines in the DDR field, while continuing to expand the development of synthetic lethality pipelines based on novel mechanisms. It is expected to advance representative projects into IND filing in 2023, growing into a globally leading innovative drug R&D company with distinct characteristics.

This round of financing has garnered support from several renowned investment institutions. Among them, Longpan Investment is a leading professional investment firm in China’s biopharmaceutical sector, with a strategic focus on innovative drugs and novel medical devices. Haibang Fenghua is a specialized investment institution dedicated to equity investment and management, co-founded by prominent Zhejiang-native overseas-returnee entrepreneurs and seasoned investment professionals. West Lake Innovation Investment is an investment firm rooted in innovation and committed to the commercialization of scientific achievements, prioritizing sectors such as biopharmaceuticals and advanced manufacturing. Liyi Medicine is an early-stage investment institution focused on source innovation in the biopharmaceutical industry, jointly established by veterans from both the investment community and the biopharmaceutical sector.

Mr. Yu Zhihua, Chairman of Longpan InvestmentLongpan Investment expressed: Longpan Investment is highly optimistic about the development potential of DNA damage repair and synthetic lethality drugs in the field of cancer treatment. The company has organically integrated Professor Yu’s over 20 years of biological expertise in DNA damage repair with an industrial team, and combined its profound innovation foundation with excellent project execution capabilities, demonstrating outstanding development potential. The company holds a world-leading position in terms of product pipeline and development progress, and is expected to successfully launch its drugs in international markets in the future, fully reflecting the value of innovative pharmaceuticals made in China. We look forward to SynRxTherapeutics achieving success in the fields of DNA damage repair and synthetic lethality.

Huang Li, Partner at Haibang Fenghua MedicalHaibang Capital is honored to participate in the early-stage financing of SynRx Therapeutics. Leveraging Professor Yu’s extensive expertise in DNA damage repair, the company has established a platform for developing small-molecule oncology drugs focused on novel targets and mechanisms. Since its inception, SynRx Therapeutics has rapidly assembled a professional team with support from various sectors. Several first-in-class pipeline candidates have achieved promising results, demonstrating the team’s strong execution capabilities. We look forward to SynRx Therapeutics delivering world-class innovative therapies in the future.

Zhang Fan, General Manager of West Lake Innovation InvestmentStatement: The field of DNA damage repair has witnessed rapid development in recent years and is on the verge of an explosive breakthrough. As one of the leading experts in this field, Professor Yu Xiaochun’s extensive experience will continue to yield innovative drug discoveries. The company’s flagship projects are dedicated to addressing the challenges of resistance and limited response rates associated with PARP inhibitors. We believe that the future application prospects for next-generation DNA damage repair therapeutics are exceptionally promising.

Wang Jing, Founding Partner of Liyi PharmaStatement: Liyi Pharma is honored to participate in the early-stage financing of SynRxTherapeutics. Professor Yu is a recognized expert in the field of DNA damage repair. Leveraging Professor Yu’s extensive expertise in this area and combining it with an outstanding industry team, the company has achieved key breakthroughs across multiple important R&D pipelines since its inception, demonstrating a solid scientific foundation and exceptional team execution capabilities. We look forward to SynRxTherapeutics developing world-class innovative anti-tumor drugs soon, bringing hope to more patients.

LongPan Investment, headquartered in Beijing, is a leading biomedical venture capital firm in China. It currently manages five RMB-denominated funds and one USD-denominated fund, with total assets under management exceeding RMB 10 billion. LongPan Investment is the only biomedical investment institution to date that has received capital commitments from both of China’s top two RMB limited partners: the National Social Security Fund and the National Small and Medium Enterprises Development Fund. Focusing on innovative drugs and innovative medical devices, LongPan Investment primarily invests in start-up and early-to-mid-stage companies. To date, it has invested in more than 70 innovative drug companies and over 10 innovative medical device companies, including numerous star portfolio companies such as Beta Pharma (SZ.300558), RemeGen (SH.688331), Yihua Pharmaceuticals (SH.688176), Swibio, BinHui Biotech, ImmuneOnco, Huahao Zhongtian, and Aier Eye Hospital Group’s subsidiary Aibo Medical (SH.688050). Many partners in LongPan Investment’s management team bring over 20 years of R&D and managerial experience in the global and domestic biomedical industries, enabling the firm to provide comprehensive value-added services to its portfolio companies.

Haibang Fenghua is a professional investment institution specializing in equity investment and management. It was jointly established by several well-known Zhejiang-born overseas-returnee entrepreneurs and seasoned investment professionals. The management team boasts successful entrepreneurial track records and extensive investment experience. The company is committed to aggregating domestic and international resources across government, capital, industry, technology, and talent sectors, aiming to provide promising startups with the necessary capital and mature management expertise to accelerate their growth and establish competitive advantages.

Westlake Innovation Investment was established in August 2020. As an investment institution rooted in innovation and focused on the commercialization of scientific research achievements, it strategically focuses on innovative and entrepreneurial sectors such as biomedicine and advanced manufacturing. Westlake Innovation Investment is committed to identifying enterprises with source innovation capabilities, vigorously supporting top scientists in their entrepreneurial ventures and the application of their research outcomes, and leveraging synergistic resources to facilitate corporate growth, thereby building a bridge between scientific progress and technology serving humanity.

Liyi Medicine is an early-stage investment firm co-founded by seasoned professionals from the investment and biopharmaceutical industries, with a focus on source innovation. The company specializes in investing in clinically oriented biopharmaceutical enterprises at their early stages, leveraging its extensive domestic and international industry resources accumulated over many years to provide specialized and segmented industry resources and management expertise. Liyi Medicine is committed to becoming a long-term value investor that accompanies and supports biopharmaceutical companies driven by source innovation.