Banko Bio Completes Over Ten Million Yuan Angel Financing to Accelerate Development of Novel Antiviral Nanobody Therapeutics

VCBeat has learned that, recently, a company engaged in the research and development of novel nanobody drugsWuhan Banke Biotechnology Co., Ltd.(hereinafter referred to as “Banko Bio”) has completed an angel financing round exceeding RMB 10 million. This round was led by Wuhan East Lake High-Tech Equity Investment Management Co., Ltd. (hereinafter referred to as “East Lake Investment”), with participation from Wuhan Baiying Bio-Industry Investment Management Co., Ltd. (hereinafter referred to as “Baiying Investment”), a subsidiary of Wuhan Institute of Biotechnology.

This round of financing will be used for Banko BioPreclinical Studies of Antiviral Nanobody Drugs, andAdvancement of other R&D pipelines and team building.

The outbreaks and epidemics of viral infectious diseases pose a severe threat to socioeconomic activities and human life and health, with an accelerating trend. Currently, the novel coronavirus (SARS-CoV-2) has caused hundreds of millions of confirmed COVID-19 cases worldwide, resulting in millions of deaths, and continues to rage globally.

Influenza viruses, which have been known for a long time, have caused multiple pandemics worldwide. For example, the Spanish flu caused by the H1N1 subtype of influenza A virus in 1918 resulted in approximately 50 million deaths. In addition, human respiratory syncytial virus (RSV) exhibits seasonal prevalence globally, with infants and young children, the elderly, and immunocompromised individuals being at high risk. RSV causes approximately 33 million cases of acute lower respiratory tract infections annually, leading to more than 3 million hospitalizations and tens of thousands of deaths. Overall, preventive and therapeutic measures for viral infectious diseases remain limited, underscoring an urgent need to develop next-generation drugs.

Antibody drugs have been widely used in the treatment of tumors and immune diseases. In the context of viral infectious diseases, neutralizing antibodies have played a significant role. Currently, antibody drugs officially approved by the U.S. FDA for viral infections include: palivizumab (brand name: Synagis) for respiratory syncytial virus (RSV); ibalizumab (brand name: Trogarzo) for human immunodeficiency virus (HIV-1) infection; and the monoclonal antibody cocktail Inmazeb as well as ansuvimab (brand name: Ebanga) for Ebola virus (EBOV) infection.

With the prevalence of COVID-19, several monoclonal antibody drugs against SARS-CoV-2 have been rapidly developed and granted emergency use authorization. The critical role of antibody therapeutics in antiviral therapy has garnered increasing attention, making the development of antiviral antibodies a prominent focus in the field of antibody drug research and development.

Banko Bio has long been committed to the development of innovative antibody drugs, and hasEstablished a Comprehensive Multi-Dimensional Antibody Drug R&D Platform. After earning his Ph.D. from Wuhan University, the company’s founder, Dr. Gong Rui, conducted antibody research at the U.S. National Institutes of Health (NIH), where he accumulated extensive experience in antibody engineering. Upon returning to China, Dr. Gong served as a Principal Investigator and Doctoral Supervisor at the Wuhan Institute of Virology, Chinese Academy of Sciences, where he established an antibody engineering research group. Dr. Gong has been selected for several prestigious talent programs, and his team has secured funding from multiple grants.

Currently, Banko Bio has established and is further strengthening its nanobody drug translation and operations team. Technologically, the company possesses uniqueNovel Nanobody Technology Platform, including nanobody structure design, engineering, high-throughput screening, and drug development. By leveraging its proprietary technologies, the company has effectively enhanced the stability and anti-aggregation properties of nanobodies, significantly extended their plasma half-life, and substantially improved the druggability of nanobody-based therapeutics. Currently,Banko Biotech has obtainedMultiple Candidate Nanobody Drugs Targeting Viral Infectious Diseases.

Regarding this round of financing, Dr. Gong Rui, Chairman of Banko Biologics, discussed the company’s future development plans. The company’s recent R&D focus is on developing innovative antiviral drugs based on its proprietary novel nanobody technology. It aims to obtain clinical trial approvals for two to three innovative drugs within the next two to three years. Meanwhile, by leveraging multiple antibody development technology platforms, the company will expand its pipeline layout to develop more candidate drugs with clinical value, thereby addressing diverse clinical needs.

Dr. Gong Rui, Chairman of Banko BioIt was also stated that the company’s development has been inseparable from the long-standing strong support of the leadership at the Wuhan National Bio-industry Base Construction and Management Office and the Wuhan Institute of Biotechnology, as well as the appreciation and assistance provided by the leadership of Wuhan East Lake Investment. This round of financing will help Banko Biology achieve a breakthrough from zero to one, accelerating the clinical development and industrialization of its novel nanobody drugs. The company will seize this opportunity to embark on a fast track for growth.

Liao Tong, General Manager of Donghu InvestmentStatement: It is a great honor to lead this round of investment in Banko Bio. One of the key areas of focus for Donghu High-Tech Group’s industrial parks and investment strategy is the big health industry. The Banko Bio team hails from the Wuhan Institute of Virology, Chinese Academy of Sciences, and has been deeply engaged in research on antiviral monoclonal antibodies and nanobodies. The company has achieved innovations in foundational technologies, established a robust intellectual property portfolio, and accumulated substantial technical expertise. We hope that this round of investment will help Banko Bio accelerate the development of its pipeline.

Relevant Official from the Wuhan Institute of BiotechnologyIt was stated that Banko Bio, a biopharmaceutical innovator incubated by the Wuhan Institute of Biotechnology, has cultivated deep expertise in the field of single-domain antibodies for many years. The company has assembled a team of highly talented professionals and has a clear path toward industrialization. Its developed single-domain antibodies targeting key viruses to which children are susceptible can effectively meet current clinical medication needs for pediatric patients, demonstrating strong market application prospects.

Wuhan Banke Biotechnology Co., Ltd. is located in the Optics Valley Bio-city within the East Lake High-Tech Development Zone of Wuhan. Dedicated to the development of antibody-based therapeutics and related novel technologies, Banke Biotechnology is a technology-driven innovative enterprise. The company’s team possesses extensive expertise in virology and has established a novel nanobody research and development platform, as well as a technical support and service platform for the evaluation of antiviral drugs. Banke Biotechnology has received support from the “3551 Talent Program” of the Wuhan East Lake High-Tech Development Zone and has been certified as a High-Tech Enterprise. Currently, the company is prioritizing the preclinical development of antiviral drugs with the aim of serving patients at the earliest possible time.

East Lake High-Tech Group, established in 1993, is a company listed on the Main Board of the Shanghai Stock Exchange. The Group’s three core business segments are technology parks, environmental protection technology, and engineering construction. Its technology park operations are primarily concentrated in high-tech industry clusters within first- and second-tier core cities, with a nationwide portfolio of 33 parks.

As the industrial investment platform of East Lake High-Tech Group, Donghu Investment boasts a professional investment management team and stable access to high-quality high-tech projects at reasonable valuations. It has established close strategic partnerships with numerous leading domestic research institutions, including Huazhong University of Science and Technology, the Precision Measurement Institute of the Chinese Academy of Sciences, and the Wuhan Institute of Virology.

Wuhan Institute of Biotechnology was established in 2009 as a strategic decision by the Hubei Provincial Party Committee and Provincial People’s Government, as well as the Wuhan Municipal Party Committee and Municipal People’s Government, to integrate the advantageous resources of research institutes in Wuhan, including Wuhan University, Huazhong University of Science and Technology, Huazhong Agricultural University, and the Wuhan Branch of the Chinese Academy of Sciences. Currently, the institute has attracted more than 160 resident teams and over 150 high-level talents from home and abroad, including academicians, with these teams demonstrating strong momentum in their development.

Wuhan Baiying Bio-Industry Investment Management Co., Ltd., established in 2016, is a wholly-owned fund operation and management platform under the Wuhan Institute of Biotechnology. Leveraging the platform’s resource advantages, Baiying Investment utilizes private equity funds as its vehicle to provide angel investment, venture capital, and industrial investment for early- to mid-stage startups, striving to become a specialized investment institution in the biological health sector characterized by “benevolent capital.”