Zhongsheng Suyuan Completes Series A Financing and Receives IND Approval for China's First iPSC-Derived iMSC Therapy NCR100 Injection

Recently, Anhui Zhongsheng Traceability Biotechnology Co., Ltd. (hereinafter referred to as “Zhongsheng Traceability” or the “Company”) announced the completion of its Series A financing round, totaling hundreds of millions of yuan. The round was co-led by China Merchants Health and Legend Capital, with participation from institutions such as GF Xinde. The funds raised will be used to support the construction of the Company’s R&D platform, accelerate the development of its cell therapy pipeline, and further expand its business segment focused on the production of upstream raw materials for human induced pluripotent stem cells (iPSCs).

Zhongsheng Traceability, established in 2016, focuses on the R&D, manufacturing, and clinical translation of iPSC-derived cell therapy products. The company has systematically built a patent portfolio centered on iPSC technology applications, covering areas such as iPSC reprogramming, directed differentiation into various functional cell types, manufacturing processes, and key raw materials. It is a leading domestic supplier of iPSC technology-related cellular products.

The company has established internationally leading R&D and manufacturing facilities for iPSC-derived cell products, possesses China’s foremost industrial development capability for iPSC-derived cell therapy products, and maintains the largest iPSC super-donor bank for the Chinese population in the country.Recently, the Center for Drug Evaluation of the National Medical Products Administration of China approved the clinical trial application (Acceptance No.: CXSL2200291) for the Company’s first iPSC-derived mesenchymal-like cell (iMSC) therapeutic product, “NCR100 Injection.”This product is the first iPSC-derived iMSC therapeutic product approved for clinical trials in China, further demonstrating the company’s ability to gain initial recognition from regulatory authorities for its clinical product platform and paving the way for expanded clinical application of iPSC-derived cell therapy products.

Dr. Junying Yu, Anhui Zhongsheng Traceability Biotechnology Co., Ltd.He stated, “iPSC technology can make cell-based therapies accessible to the general public, addressing the prohibitive treatment costs associated with existing cell products. Anhui Zhongsheng Traceability Biotechnology Co., Ltd. has been deeply engaged in the iPSC field for many years, laying a solid foundation for the development of iPSC-derived cell therapies. As our company enters the clinical trial phase, we are honored to have received support from China Merchants Health, Legend Capital, and GF Xinde. We will accelerate the advancement of our product pipeline to bring iPSC-derived cell therapies to market at an early date, thereby realizing their social value.”

Li Yadong, Chairman of China Merchants Health“It stated: ‘As a universal cell technology once honored with the Nobel Prize, iPSCs have opened a new door for regenerative medicine and disease treatment. Dr. Junying Yu and Dr. Ying Zhang, founders of Anhui Zhongsheng Traceability Biotechnology Co., Ltd., have been engaged in R&D in this field for many years, possessing profound R&D experience and deep industry insights. China Merchants Health will regard Anhui Zhongsheng Traceability as a cornerstone project in the cell therapy sector, providing long-term support and working together to facilitate its growth and development.’”

Hong Tan, Managing Director at Legend Capitalstated: “iPSC-derived cell therapy products represent a disruptive innovation in biomedical technology, with their development prospects widely recognized and anticipated both domestically and internationally. Legend Capital holds strong confidence in the founding team’s profound scientific expertise and their consistent commitment to dedicated R&D. We are highly confident that, by working closely with the team, we can accelerate the advancement of more product candidates into clinical trials and facilitate the rapid market launch of clinically driven cell therapies at lower costs.”

Xiao Xuesheng, Chairman of GF Xinde“It stated: ‘The emergence of induced pluripotent stem cells (iPSCs) has provided new possibilities and disruptive solutions for the fields of cell therapy and regenerative medicine, holding immense clinical value. Since the initial discovery of iPSCs and the awarding of the Nobel Prize in 2012, numerous breakthroughs have been achieved in iPSC technology. As among the first scientists worldwide to engage in iPSC research, founders Dr. Junying Yu and Dr. Ying Zhang possess profound expertise and insight. GF Xinde is highly optimistic about the accumulation of expertise by the founding team of Anhui Zhongsheng Traceability Biotechnology Co., Ltd. in the iPSC field and their contributions to China’s iPSC sector. GF Xinde will work closely with the team, providing long-term support to accelerate the development and clinical application of this disruptive iPSC technology, thereby benefiting society.’”

China Merchants Health Industry Holdings Co., Ltd. (hereinafter referred to as “CM Health”) serves as the platform company for the health industry of China Merchants Group. With the vision of being a “value health enabler in the digital era” and the mission of “technology-led, value-driven health,” CM Health is committed to becoming a core force driving transformation in China’s healthcare industry. Adhering to the strategic direction of “hard technology and new business formats,” CM Health practices investment and operations through industrial mergers and acquisitions and fund investments, striving to build an elevated industry ecosystem.

Legend Capital was established in April 2001 as a fund management company under Legend Holdings, specializing in early-stage venture capital and growth-stage private equity investments. Over the past two decades, Legend Capital has adhered to international standards, creating best practices in fund operations and management. Through its proactive value-added service system, Legend Capital drives innovative corporate growth, consistently delivering strong investment returns across multiple sectors while promoting industrial advancement and social development in China. With the vision of "becoming an investment firm with global influence," Legend Capital upholds the core value of "Wealth with Integrity" and actively fulfills its social responsibilities.

GF Xinde Investment Management Co., Ltd., established in 2008, is a wholly-owned private equity fund subsidiary of GF Securities Co., Ltd. (Stock Code: 000776). Leveraging its superior fund management capabilities, excellent investment research expertise, comprehensive project management skills, and rigorous and pragmatic compliance and risk control measures, GF Xinde has become a trusted asset allocation choice for numerous high-quality capital providers.

Guided by the values of vision, integrity, and collaboration, the company leverages in-depth industry research to identify high-quality investment opportunities. By capitalizing on the comprehensive strengths of the GF Securities Financial Group and its own strategic management capabilities, the company delivers full-spectrum value-added services to portfolio companies. This approach enhances their investment value, generates superior returns for investors, and fosters a win-win outcome for the company, its investors, and portfolio companies. GF Xinde has consistently ranked among the top three in Zero2IPO’s rankings of private equity fund managers affiliated with securities firms. Currently, the funds raised and managed by the company span multiple sectors, including healthcare, consumption upgrades, industrial innovation and upgrading, and TMT, covering various investment strategies such as private equity (PE), venture capital (VC), and mergers and acquisitions (M&A).