Enitiate Bio Secures RMB 100 Million Series A Financing to Advance Innovative Therapies for Dermatological and Autoimmune Diseases

VCBeat News learned that on August 31, 2022, in Hangzhou, China, Enitiatebio (Hangzhou) Co., Ltd. (“Enitiatebio”) announced the completion of its RMB 100 million Series A financing round. The round was led by Shijie Investment, with participation from Taikun Fund, Linping State-owned Capital Investment, and Hangzhou Jintou Industry Fund. The proceeds will be used to advance the clinical development of multiple pipeline candidates, including QY201 and QY101, and to further expand the company’s R&D pipeline. Start Point Advisors served as the exclusive financial advisor for this transaction.

In late 2020, Enitiatebio was co-founded by Weimou Biopharma and the Beta Pharma Bio-Industrial Fund. Dedicated to the development of innovative drugs for dermatology and autoimmune diseases, the company develops breakthrough new therapies through independent R&D, technology licensing, and strategic collaborations, aiming to address unmet patient needs and improve quality of life.

As a key project introduced by the Hangzhou Linping National-Level Development Zone, Enitiatebio secured tens of millions of yuan in angel investment from Beta Fund and established a strategic partnership with Betta Pharmaceuticals. This financing round marks Enitiatebio’s first public external fundraising since its inception, demonstrating recognition from professional market-oriented healthcare funds and representing a significant milestone in the company’s development journey.

Driven by market dynamics and unmet clinical needs, Enitiatebio has made forward-looking strategic investments in skin-related autoimmune diseases such as atopic dermatitis and psoriasis. The company independently develops highly differentiated molecules with global patent protection, achieving R&D progress that leads the industry. Within less than two years of its establishment, Enitiatebio has assembled an outstanding team of senior scientists with extensive cross-functional experience in preclinical development of innovative drugs, clinical management, and business collaboration. Leveraging the team’s high execution efficiency, the company has advanced two products, QY201 and QY101, into clinical stages, with multiple additional pipeline candidates poised for Investigational New Drug (IND) applications.

Enitiatebio CEO Ding ShizheHe stated, “Taking this step amid the capital winter has been an unforgettable and valuable experience for both the Enitiate Bio team and myself. The pandemic and market sentiment significantly increased the challenges of communication and progress during our fundraising process. While this brought pressure, it also drove us to continuously refine our self-assessment and optimize our resources. Although the Enitiate Bio team is young, we are highly diverse, with unquestionable execution capabilities and self-motivation. I am deeply gratified to witness the team’s continuous growth and progress. Here, I would like to express my sincere gratitude to Dr. Shen Wang for his unwavering support and contributions to Enitiate Bio. Dr. Shen is a top-tier scientist in the industry and the pioneer behind the company’s strategic pipeline layout. Under his assistance and guidance, our pipeline has been developed and advanced, and I feel truly fortunate to have worked with him. Finally, I extend my heartfelt thanks to the investing institutions for their trust and understanding. I believe that with our joint efforts, ‘This is only the beginning for E-nitiate Bio.’”

Dr. Shi Jun, Chief Medical Officer of EnitiatebioHe stated, “Against the harsh realities of 2022, we remained steadfast in our innovation-driven approach, attracting and nurturing numerous industry elites, strengthening our innovation capabilities, and efficiently developing robust, patient-centric products with genuine clinical value. Within less than two years, two projects have entered clinical development with smooth progress, while multiple other projects are ready to enter clinical trials or advance to the next clinical stage. Enitiatebio’s strategy is to focus on the blue-ocean field of dermatology, maintaining a low-profile and pragmatic approach. Our first step is to penetrate the domestic market for autoimmune skin diseases through efficiency and quality; our second step is to address unmet clinical needs through differentiated drug development, ultimately becoming a market leader in dermatology with global first-in-class (FIC) products. We thank the investors in this round for their recognition of Enitiatebio. We will continue to build corporate innovation, enhance the efficiency and quality of clinical development, and ensure that our products and technologies better serve clinical practice by addressing unmet clinical needs. We firmly believe that this is the fundamental cornerstone of sustainable corporate development.”

Zhang Nan, Managing Partner at Shijie Venture Capitalstating: “Enitiatebio leverages its competitive advantages to strategically target the high-growth dermatology and pediatrics sectors, rapidly advancing clinical development. The company demonstrates significant investment value, and its future prospects are promising.” Guo Sizhou, Investment Director at Shijie Venture Capital, commented: “Enitiatebio has assembled a top-tier team spanning drug discovery, clinical development, and market expansion. Securing two Investigational New Drug (IND) approvals within 18 months underscores the team’s exceptional execution capabilities. As a venture capital firm focused on early-stage life and health innovations, Shijie Venture Capital will continue to support Enitiatebio in advancing its pipeline, addressing more unmet clinical needs, and benefiting a broader patient population.”

Linping State-owned InvestmentHe stated, “In recent years, the biopharmaceutical industry has been a key sector prioritized for development by the state. Aligning with local industrial characteristics and following industry trends, Linping District has consistently supported high-quality enterprises and projects in the biopharmaceutical field to achieve better and faster growth. Backed by Betta Pharmaceuticals, a listed company in the district, Enitiatebio focuses on the research of innovative small-molecule drugs for autoimmune diseases. We hope to strengthen, expand, and deepen Enitiatebio’s capabilities, thereby contributing to the aggregation of the pharmaceutical industry ecosystem within the district.”

Wang Huaping, Chairman of Hangzhou Jintou Industry Fund“It is stated that ‘the domestic market for autoimmune disease drugs holds significant growth potential. Enitiatebio is a pioneer in the R&D of innovative drugs for autoimmune diseases, with its product development progress ranking among the forefront in China. The company boasts a rich clinical pipeline and preclinical reserves, which are expected to drive the robust development of Hangzhou’s biomedical industry chain in the future.’”

As the exclusive financial advisor for this transaction, Start Point Advisorsstated: “China’s innovative drug industry is entering a new generation and cycle. Enitiatebio is the product of innovative collaboration between BioPharma and Biotech in this era, demonstrating significant exemplary impact and pioneering significance, and representing the entry of industrial integration into a new phase. We are honored to participate as a party to the transaction and wish Enitiatebio success in ushering in a new epoch for the industry.”

Shijie Ventures is a venture capital fund focused on early-stage innovative companies in the life and health sectors, dedicated to identifying and nurturing revolutionary and disruptive technologies. By collaborating closely with industry partners, the fund connects its portfolio companies with essential resources to accelerate their growth and promote the industrialization of their technologies. Its primary investment areas include biopharmaceuticals, CXO (CRO/CDMO), reagents and consumables, instruments and equipment, advanced cell and gene therapies, and pharmaceutical digitalization.

Taikun Fund is a biomedical industry fund jointly established by Tigermed, Hangzhou Capital, and Hangzhou Gaoxin Sci-Tech Innovation. Leveraging Tigermed’s industrial layout in clinical CRO services and aligning with the strategic development of Hangzhou’s pharmaceutical industry, Taikun Fund operates on a market-oriented basis. Focusing on the life and health industry, it prioritizes investments in innovative medical devices, biopharmaceuticals, healthcare services, healthcare informatics, digital therapeutics, intelligent manufacturing, and nutrition and wellness enterprises.

Hangzhou Linping State-owned Capital Investment and Operation Co., Ltd. is a wholly state-owned enterprise approved by the Linping District People’s Government of Hangzhou. It is primarily responsible for the investment and operation of the district government’s industrial guidance fund. Adhering to the investment principles of “government guidance, market-oriented operation, classified management, scientific decision-making, controllable risk, and rolling development,” and positioned with the functions of “supporting leading industries, facilitating investment attraction, introducing and nurturing listed companies, and cultivating industrial ecosystems,” the company supports projects in Linping District’s key sectors, including high-end equipment manufacturing, life and health, fashion industry, and industrial internet. It guides financial capital to better support the real economy, technological and industrial innovation, thereby enhancing the level of innovation and entrepreneurship and promoting industrial transformation and upgrading in Linping District.

Hangzhou Jintou Industry Fund Management Co., Ltd. was established in February 2015 with a registered capital of RMB 50 million. It serves as the specialized management platform for industrial investment and financing operations under Hangzhou Financial Investment Group. Adhering to its corporate positioning of “being rooted in the real economy and serving real-sector entities,” Jintou Industry has built dual engines of equity investment and capital market services. The company focuses on sectors such as advanced manufacturing, hard technology, and healthcare, actively participating in the transformation and upgrading of traditional industries and accelerating the layout of strategic emerging industries. Through various instruments—including fund-of-funds, equity funds, special-purpose funds, mezzanine investment, M&A funds, securities investment, and investment advisory services—it provides comprehensive financial services to leading enterprises and listed companies across various segments of the real economy. These services include, but are not limited to, stock pledging, private placements, block trades, industrial M&A funds, convertible bonds, and exchangeable bonds.

Start Point Advisors is a financial advisory firm specializing in the healthcare and medical industry. Established in 2020, its team members hail from renowned institutions within the sector and possess extensive professional experience. The company currently maintains offices in Beijing, Suzhou, Hangzhou, and Guangzhou. Since its inception, Start Point Advisors has achieved comprehensive coverage across the healthcare and medical landscape, earning a strong professional reputation and acclaim within the industry. It stands as one of the most representative emerging investment banks in China’s healthcare and medical sector.