Oncolytic Virus Leader Binhui Biopharmaceutical Secures Nearly RMB 300 Million in Series B+ Financing Led by Yangtze River Pharmaceutical Group, Files for Hong Kong IPO

VCBeat (WeChat: vcbeat) learned at the earliest opportunity that,Wuhan Binhui Biopharmaceutical Co., Ltd. Recently Completed Its Series B+ Financing Round, after completing a Series B financing round of RMB 600 million in early 2021, it has once again secured investment fromYangtze River Pharmaceutical Group led the nearly RMB 300 million financing round, with co-investment from Denovo Capital, Xiaoming Investment, Jointown Pharmaceutical Group, and Hubei High-Tech Investment Group.。

Public information shows that BINHUI BIOPHARM is a leading enterprise in the niche field of oncolytic virus-based tumor immunotherapy, and its developedThe first candidate drug, BS001 (OH2) injection, has successively received approvals from China's NMPA and the U.S. FDA, conducting clinical trials for various solid tumors.OH2 Injection is the world’s first oncolytic virus therapy to select herpes simplex virus type 2 (HSV-2) as its vector., and entered clinical trials, this oncolytic virus candidate drug is also the first novel oncolytic virus candidate drug with independent intellectual property rights, independently developed in China, to make its debut on the global stage of oncolytic virus immunotherapy.

Adhering to original innovation and developing innovative drugs in accordance with international standards has always been the core philosophy of BINHUI BIOPHARM. In 2021, building upon its oncolytic virus immunotherapy platform, BINHUI BIOPHARM established new platforms for nucleic acid drugs and protein therapeutics. These newly developed R&D platforms are grounded in proprietary innovative technologies, including a lipid nanoparticle (LNP) delivery system, diverse RNA structures, trimeric protein structures, and molecular clamp antibody preparation and protein purification systems. The candidate drugs developed through these platforms offer advantages such as short development cycles, high specificity, a broad range of targets, sustained efficacy, and high clinical development success rates. These three platforms can independently develop anti-tumor agents, chronic disease medications, and therapeutic and preventive vaccines, while also leveraging synergistic effects to accelerate new drug development and enhance therapeutic efficacy.

Lead Investor of This Funding RoundXu Haoyu, Chairman and General Manager of Yangtze River Pharmaceutical GroupHe spoke highly of the strategic cooperation between the two parties and expressed high expectations for its future. He stated that this partnership has laid a solid foundation for jointly exploring new models in the development of biological drugs, and expressed his hope that both sides will leverage their respective strengths to accelerate product R&D, leading Chinese-made innovative biologics onto the global stage.

Lin Yunfeng, Founding Partner of Denovo Capital“Oncolytic viruses combine multiple tumor-killing mechanisms into one, representing a significant class of tumor therapeutics engineered through genetic technology. Denovo Capital highly recognizes the team at BINHUI BIOPHARM. The dedicated team led by Dr. Liu Binlei has demonstrated their technical expertise through a track record of past successes, with their products showing promising data across various solid tumors. With the successful establishment of its protein drug and nucleic acid drug platforms, BINHUI BIOPHARM will develop more innovative products for anti-tumor therapies, chronic diseases, and vaccines, further consolidating its leading position in the industry. Denovo Capital will leverage its resource advantages to support BINHUI BIOPHARM’s path to success, benefiting more patients.”

DNV Capital, established in 2011, is an international asset management firm specializing in the healthcare and intelligent technology sectors, with a deep focus on precision medicine and innovative technologies. The firm has managed five USD-denominated funds and eight RMB-denominated funds, with total assets under management exceeding RMB 5 billion. Adhering to the investment philosophy of “Focus, Professionalism, Diversification, and Globalization,” DNV Capital has led investments in dozens of renowned domestic and overseas projects, including Venus Medtech (02500.HK), Vessix, Human Extension (TASE: HUMX), Sorrento Therapeutics (NASDAQ: SRNE), Broncus Medical (02216.HK), Sonendo (NYSE: SONX), CanSino Biologics’ affiliate Beihai Kangcheng (01228.HK), Haisco Pharmaceutical Group’s subsidiary Haichuang Pharma (688302.SH), Geneseeq Technology, and Xuanzhu Biopharma.

Ming Capital, founded in Shenzhen, China in 2015, focuses on global venture capital investment in the healthcare sector, promoting global medical innovation and application to improve human health. Adhering to the value of creating value through integrity and collective wisdom, Ming Capital’s management team possesses extensive experience in VC/PE investment, corporate management, investment banking M&A, and deep medical professional backgrounds, enabling it to provide comprehensive value-added services to portfolio companies. To date, it has cumulatively invested in more than ten domestic and overseas innovative drug and medical device companies. Its portfolio includes Kingwell Bio, BINHUI BIOPHARM, BestDose, Shenyen Bio, CareTaker Medical, Miracor Medical, Human Xtensions, and others. Ming Capital participated in this round of financing for BINHUI BIOPHARM and provided advisory value-added services by introducing strategic investors to the company.

The Jiuzhou Zhiyi Equity Investment Fund, which participated in this round of financing, is an equity investment fund primarily focused on the broader health sector, initiated and established by Jointown Pharmaceutical Group Co., Ltd. (Stock Code: 600998). Rooted in the pharmaceutical distribution, logistics services, and medical healthcare industries, Jointown Group has evolved into a technology-driven enterprise providing full-chain pharmaceutical supply chain services. Leveraging the substantial resources of Jointown Group’s hundred-billion-yuan industrial output, the Jiuzhou Zhiyi Fund is committed to building a sustainable growth ecosystem and delivering value-added services to its portfolio companies, thereby maximizing their development potential.

Hubei Gaotou ChanKong Investment Co., Ltd. is a highly specialized and market-oriented state-controlled investment platform jointly established by Changjiang Industrial Investment Group Co., Ltd., Hubei Hongtai State-owned Capital Investment and Operation Group Co., Ltd., Hubei Dinglong Holding Co., Ltd., and other partners. Changjiang Industrial Investment Group was formed through the strategic restructuring of Hubei Changtou Group, Hubei Gaotou Group, Hubei Changjiang Industrial Fund Management Company, and Xingchu State-owned Assets Company. It is a first-class national industrial investment group dedicated to supporting the development of modern industrial clusters in Hubei Province and leading the growth of forward-looking, high-end, and strategic industries.