ChainGen Bio Secures RMB 45 Million in Angel Funding to Advance Extrahepatic-Targeted Oligonucleotide Conjugate Therapeutics

ChainGen Biopharma Ltd. (“ChainGen Bio”), established in Zhangjiang, Shanghai, in January 2022, is among the first biotechnology companies in China to engage in the research and development of small nucleic acid oligonucleotide conjugates (X-oligo conjugate, XOC) in the public domain. The company focuses on achieving extrahepatic delivery of small nucleic acids through conjugation strategies, filling a gap in this niche sector within China.

Recently,ChainGen Bio Successfully Closes Tens of Millions of RMB in Angel Financing, Co-led by Matrix Partners China and FreeS FundThe funds obtained are allocated to pipeline R&D, patent portfolio strategy, and corporate operations, including the establishment of laboratory platforms.

The oligonucleotide therapeutics industry is experiencing rapid development, with 14 drugs approved to date, marking the third wave of innovative medicines following small molecules and antibody therapies. However, due to limitations in delivery methods and the endosomal trap, currently marketed oligonucleotide drugs can only target hepatic indications. Non-hepatic targeted delivery of oligonucleotides has attracted significant attention from numerous companies abroad. Avidity Biosciences’ antibody-oligonucleotide conjugate entered clinical studies for the first time in November 2021 and has since been administered to more than 30 patients. Dyne Therapeutics’ antibody fragment-oligonucleotide conjugate also initiated patient enrollment in clinical trials in September 2022.

ChainGen Bio centers its technological strategy on antibody-drug conjugates (ADCs) and has pioneered the development of non-hepatic targeted delivery systems for small nucleic acids in China. The founding team hails from industry leaders such as WuXi Biologics, Swibio, and Hengrui Medicine, bringing extensive industrial experience. Additionally, the company has attracted a cohort of professionals with specialized academic backgrounds and management expertise in nucleic acid chemistry, conjugation chemistry, biology, pharmaceutics, and business development.The company has established its own standardized R&D laboratory and possesses a leading conjugation technology platform both domestically and internationally. Its first product has currently completedPreclinical Candidate Compound (PCC) screening, with work related to the Investigational New Drug (IND) application for clinical trials expected to commence in 2023.. In addition, the company has established partnerships with multiple well-known enterprises and university laboratories.

In the future, ChainGen Bio will prioritize rare diseases, oncology, and central nervous system disorders as its core strategic areas, focusing on unmet clinical needs to provide effective solutions for physicians and patients in China.

Dr. Wu Hao, Founder and CEO of ChainGen BioHe earned his bachelor’s degree from Tsinghua University and his Ph.D. from the College of Pharmacy at the University of Tennessee. He has previously worked at NGM, Novo Nordisk, WuXi Biologics, Deerfield Management, and Tonghe Yucheng Capital, possessing extensive experience in drug R&D, investment, and industrialization.

“Oligonucleotide conjugate drugs combine the target specificity of oligonucleotides with the tissue specificity of macromolecular drugs such as antibodies, while avoiding the risks associated with accidental toxin release in traditional antibody-drug conjugates (ADCs), thus offering broad development prospects,” said Dr. Wu Hao. “ChainGen Bio’s first product will focus on monogenic genetic diseases, building its core technological capabilities in two areas: a differentiated delivery platform spanning antibodies and peptides, and best-in-class conjugation technology with independent intellectual property rights. The development of innovative drugs is a long and challenging journey. We appreciate the participation of Matrix Partners China and FreeS Fund, and we hope to benefit patients and deliver returns to our investors as soon as possible.”

Sun Linghao, Managing Director at Matrix Partners Chinastated: “We have consistently focused on technological innovations in platforms for novel drug modalities, particularly in the field of oligonucleotides. Establishing safe and effective delivery platforms to achieve non-hepatic targeting has remained a key focus within the industry. Despite being recently founded, ChainGen Bio has already built a robust delivery platform and a dedicated small nucleic acid drug R&D team, while actively exploring advancements in small nucleic acid conjugation processes and high-throughput screening of antibodies/peptides. We look forward to continuing our support for the company as it completes platform validation and advances multiple pipeline candidates into clinical stages in the future.”

Dr. Xie Da, Vice President of FreeS Fund“The evolution of novel drug modalities has always been a significant driving force behind the development of the biopharmaceutical industry. In recent years, the success and rapid advancement of antibody-drug conjugates (ADCs) and small nucleic acid therapeutics across various disease areas have created greater possibilities and room for growth for emerging conjugate-based drug platforms at the intersection of these fields. The founding team of ChainGen Bio possesses extensive experience in both the pharmaceutical industry and biopharmaceutical investment. We are optimistic about ChainGen Bio’s market insights, technical expertise, and R&D execution in the development of novel, high-efficacy conjugate therapeutics, which will provide new opportunities for tackling rare diseases and other challenging conditions.”

Matrix Partners China was founded in 2008 and is a leading venture capital firm in the industry, with a long-term focus on early-stage and early-growth investments. It specializes in investing in new technologies, hard tech, industrial digitalization, healthcare, frontier technologies, and new consumption. To date, it has invested in more than 700 companies, including XPeng Motors, Li Auto, XGIMI Technology, Ronbay Technology, Hithium Energy Storage, PingCAP, Beisen, SemiDrive Technology, Taimei Medical Technology, The Beast, Zihai Guo, Simple Love, and MegaRobots.

FREESFUND is a full-spectrum fund management company driven by early-stage investments, while actively positioning itself in growth-stage and late-stage opportunities. Focusing on three core sectors—consumer and TMT (Technology, Media, and Telecom), hard technology, and biomedicine—FREESFUND has invested in over 150 innovative enterprises. Its portfolio spans lifestyle, cultural entertainment, intelligent manufacturing, biotechnology and new drug R&D, new energy, and new materials. Notable investment cases include Three Squirrels, 360 DigiTech, Unity, QingTao Energy, Saturnbird Coffee, PatPat, XtalPi, Bluepha, Cayudi Biotech, UBrain Galaxy, Singleron, InnoX Therapeutics, Yifei Automation, and Chipwing Information Technology.

Driven by research, committed to innovation, and equipped with a proprietary investment strategy, FreeS Fund seeks unique opportunities at the intersection of disciplines. FreeS Fund believes that interdisciplinary fields represent the most promising directions and opportunities for technological innovation, as breakthrough innovations typically occur at the crossroads of scientific disciplines.