Jinghe Biopharma Secures Over RMB 100 Million in Two Rounds Within a Year to Advance Theranostic Radiopharmaceutical Pipeline

Bivision Pharmaceuticals (Nanjing) Co., Ltd. (hereinafter referred to as “Bivision Pharmaceuticals”) announced the completion of an angel financing round totaling nearly RMB 100 million. The lead investor in this round was Gaorong Capital, with participating investors including VI Ventures, Lichen Capital, and existing shareholder Caitai Capital. Previously, the company had completed a seed financing round worth tens of millions of RMB, led by Caitai Capital and Yijing Capital.

The proceeds from this financing round will be primarily used to accelerate the clinical development of Bivision Pharmaceuticals’ multiple innovative targeted radiopharmaceuticals in its pipeline, upgrade its radiopharmaceutical R&D platform, and further solidify its leading position in the field of targeted radiopharmaceuticals.

Bivision Pharmaceuticals is a biopharmaceutical company dedicated to the development of theranostic targeted radionuclide therapy (TRT). Leveraging its three core technology platforms—targeted ligand screening, radiopharmaceutical conjugation, and clinical translation—the company is committed to benefiting cancer patients and those suffering from other severe diseases worldwide.

Bivision Pharmaceuticals was co-founded in 2021 by four founders, including Dr. Yu Haihua and Dr. Wang Yu. Dr. Yu Haihua previously worked at GSK, where he engaged in new drug research and development for over a decade, and later joined Huayi Technology to lead the Molecular Imaging and Drug Research Institute. Dr. Wang Yu has over 20 years of experience in the research and development of various targeted conjugate drugs, such as small-molecule radiopharmaceuticals, at internationally renowned pharmaceutical companies including Endocyte (acquired by Novartis) and Eli Lilly. He possesses extensive experience in new drug development, having supported multiple New Drug Applications (NDAs) and Investigational New Drug applications (INDs) in the United States.

Dr. Haihua Yu, Co-founder of Bivision Pharmaceuticals“The new round of investment from internationally renowned venture capital firms such as Gaorong Capital and VI Ventures, along with the continued trust and support from existing shareholders, not only demonstrates recognition and affirmation of Bivision Pharmaceuticals’ team and projects amid the current ‘capital winter,’ but also reflects optimism about the field of theranostic targeted radiopharmaceuticals. Theranostic targeted radiopharmaceuticals leverage equipment such as PET/CT to enable non-invasive, whole-body dynamic early visualization for diagnosis and staging, as well as evaluation of treatment efficacy. Meanwhile, Targeted Radionuclide Therapy (TRT) fully integrates the advantages of targeted drugs and physical radiation, addressing current clinical pain points in terms of dosage, safety, and overcoming drug resistance, thereby providing a novel therapeutic option for patients both domestically and internationally.”

Dr. Jingyi Liu, Gaorong CapitalHe stated, “As a novel, differentiated therapeutic modality worldwide, targeted radiopharmaceuticals hold vast market potential. As an emerging field, the development strategy and screening evaluation of targeted radiopharmaceuticals differ significantly from those of traditional drugs, presenting more challenges and higher technical barriers. The founding team of Bivision Pharmaceuticals comes from industry-leading companies such as Endocyte/Novartis, Siemens, GSK, and Huayi, and possesses R&D experience with internationally marketed radiopharmaceuticals. We are confident that the team will fully leverage its technological platform advantages to accelerate the development of its product pipeline, bringing new hope to patients worldwide at an early stage.”

Yu Guangwei, Executive President of Kaitai Capital“It was stated that ‘the co-founding team of Bivision Pharmaceuticals possesses world-class expertise in the development of targeted radionuclide drugs, with comprehensive experience spanning the entire development process—from preclinical targeting ligand screening and conjugation technology application to radiopharmaceutical optimization and thermochemical CMC. Furthermore, leveraging its proprietary multifunctional conjugation technology platform (J-Linker), the company has established a robust source of innovative momentum and competitive advantage for its future R&D endeavors.’”

VI Ventures Vice President Zhou Wenzhe“He stated: ‘Therapeutic targeted radiopharmaceuticals represent a high-barrier, highly regulated field. As a relatively new sector, it remains a blue ocean market with substantial growth potential, as evidenced by the limited number of approved drugs both domestically and internationally. New frontiers bring new challenges, but we are confident that Bivision Pharmaceuticals has the capability to stand out and become a global leader in this field.’”

Bivision Pharmaceuticals, established in 2021, was founded by a team with backgrounds from renowned international pharmaceutical companies such as Endocyte, Siemens, Lilly, Roche, and GSK, bringing extensive experience in innovative radiopharmaceutical development. The company is dedicated to leading and advancing the development of innovative radiopharmaceuticals in China. Adhering to the principles of “patient-centricity” and “pursuing excellence,” Bivision leverages its expertise and technological platforms to strive to deliver safer and more effective innovative therapies to patients worldwide.

Gaorong Capital focuses on early-stage and growth-stage investments, with a strategic emphasis on innovative ventures in new consumption, new technologies, and healthcare. In the healthcare sector, it invests in leading companies engaged in digital health, medical services, novel drug R&D, medical devices, and diagnostics. In the realm of new technologies, Gaorong has deeply cultivated areas such as artificial intelligence, smart hardware, robotics, semiconductors, enterprise services, and industrial upgrading. In the new consumption sector, it continuously seeks opportunities in “new e-commerce,” “new retail,” “new brands,” “new entertainment,” and “new infrastructure.” To date, Gaorong has invested in over 200 companies domestically and internationally, with more than 20 portfolio companies having gone public and over 30 unicorns valued at more than $1 billion.

Kaitai Capital is an innovative capital management firm focused on investments in biopharmaceuticals and life sciences, artificial intelligence and digital technology, as well as data intelligence and tech-driven consumer sectors. With a global perspective, forward-looking industry research, and an investment philosophy centered on industrial ecosystem development, Kaitai Capital has invested in more than 100 biopharmaceutical and life science companies both domestically and internationally, initially establishing a collaborative industrial ecosystem. The firm has built an ecosystem-oriented investment portfolio spanning oncology, autoimmune diseases, metabolic disorders, anti-infectives, respiratory diseases, cardiovascular diseases, neuroscience, nephrology, ophthalmology, dermatology, gene therapy and cell-based therapeutics, pharmaceutical manufacturing, innovative biotechnologies, and the broader health and wellness industry.

Yijing Capital, established in 2015 and headquartered in Shanghai, is a professional investment institution focused on healthcare, frontier technologies, and new consumption sectors globally, while also managing fund-of-funds investments in these areas. Adhering to the philosophy of “helping enterprises innovate and grow, promoting industrial optimization and upgrading, and driving social development and progress,” the firm has grown to manage assets totaling RMB 8 billion, with eight portfolio companies recognized as industry unicorns. Many of Yijing Capital’s portfolio companies have developed into influential leaders in their respective niches. In healthcare, these include Hanyu Medical, Taiyi Group, OPM Biotech, MedSci, and Weier’nuo Pediatrics; in frontier technologies, Biren Technology, Leapmotor, Lightelligence, Qianxun SI, Silan Microelectronics, and Xin Yuan Semiconductor; and in new consumption, Tasogare Coffee and Zhiketong.

Hongli Venture Capital focuses on companies with entrepreneurial passion and leading technologies both domestically and internationally, providing funding from the seed and startup stages through to the growth stage. It primarily invests in biopharmaceuticals, medical devices, biotechnology, and TMT sectors, with its investment portfolio spanning China, the United States, and Israel. The firm aims to help overseas companies in its portfolio enter the rapidly developing Chinese market, while also bridging domestic companies’ expansion into international markets. Its angel-stage incubation or early-stage investment portfolio includes: Hifibio, Viracta Therapeutics, Rani Therapeutics, Aadi Biosciences, Tangji Medical, Huiyun Biotech, Jinfeng Biotech, Platelet Biogenesis, Houkai Medical, Apexigen, Taili Biotech, TriArm, and Ausu Liquid Core.