Andicon Bio Completes RMB 100 Million Pre-A Financing to Advance Oral Anti-COVID-19 Drug CN-2021 and Respiratory Antiviral Pipeline

VCBeat (WeChat: vcbeat) has learned that in April 2022, Jiaxing Andikang Biotechnology Co., Ltd. (“Andikang Biotech”), an emerging innovator in the development of novel anti-infective drugs for respiratory diseases, officially announced the completion of its RMB 100 million Pre-A financing round.This round of financing was led by CO-WIN Ventures, with participation from Langmafeng Venture Capital, Shulan Junjie Capital, and Jiaxing Science and Technology City High-Tech Investment. Qingjie Capital served as the exclusive financial advisor for this round. The funds will be primarily used to advance and expand the clinical pipeline of new anti-infective drugs for respiratory diseases, accelerating the clinical development and global commercial expansion of CN-2021, a domestically produced oral specific anti-COVID-19 drug.

Andikang Biopharma has established a pipeline of innovative antiviral drugs targeting respiratory viruses, including a novel “one-pill” cure for influenza, an oral specific therapeutic for COVID-19, and agents against respiratory syncytial virus (RSV), as well as an innovative therapy capable of curing endometriosis. Among these, the oral specific anti-COVID-19 drug CN-2021 is scheduled to initiate clinical trials within the year. CN-2021 is a Class 1 new drug with independent intellectual property rights, optimized based on the structure of Pfizer’s nirmatrelvir. It features high druggability and low clinical risk. Preclinical data indicate that CN-2021 has the potential to become a best-in-class agent among drugs with the same mechanism of action, demonstrating advantages over nirmatrelvir in terms of higher exposure, longer half-life, and a wider therapeutic index. Additionally, ADC189, a cap-dependent endonuclease inhibitor developed by the company, is currently undergoing clinical studies for the one-dose cure and prevention of influenza A and B.

Academician Li Lanjuan, Chinese Infectious Disease SpecialistIt is pointed out that domestically produced oral specific anti-COVID-19 drugs are a crucial component in building an integrated “prevention-detection-treatment” system for COVID-19 control. The recent resurgence of local outbreaks in Hong Kong, Shanghai, and other areas, driven by the Omicron variant, has once again demonstrated the importance and urgency of accelerating the clinical application of these domestically produced oral specific anti-COVID-19 drugs as a key scientific and technological breakthrough.

Academician Wang Guangji, Expert in Pharmacokinetics in ChinaIt is pointed out that Andikang Biologics’ product pipeline is strategically positioned in the fields of public health and infectious disease prevention and control. Its innovative drug candidates under development against SARS-CoV-2, influenza virus, and respiratory syncytial virus (RSV) fill the gap in China’s independently developed innovative drugs in this sector.

Dr. Jiang Weiping, Chairman of Andikang BiopharmaThe company expressed its sincere gratitude to both new and existing shareholders for their support. Focused on the research and development of innovative anti-infective drugs for respiratory diseases, the company has cultivated a pragmatic and efficient scientific innovation team, established a world-class platform for anti-infective drug discovery and screening, and developed a pipeline of products with international competitiveness, earning recognition from numerous renowned investment institutions. The team will continue to work diligently and strive for excellence, accelerating the R&D progress of domestically produced oral specific therapeutics for COVID-19, so as to provide Chinese and global patients with novel solutions that are both curative and accessible.

Huang Li, Founding Partner of CO-WINIt was pointed out that over the past 21 years of growth, CO-WIN has invested in more than 500 projects, primarily in the healthcare and hard-tech sectors. In the healthcare field, particular emphasis is placed on technologies and products that address unmet clinical needs. The COVID-19 pandemic severely constrained economic development and even daily life. CO-WIN has closely monitored the evolution of the epidemic, with its investment portfolio covering COVID-19 testing and mRNA vaccines. However, relying solely on preventive vaccines and costly city-wide mass testing is far from sufficient for epidemic control. The availability of ample, highly effective, and affordable domestically produced specific antiviral drugs has become a top priority for controlling the outbreak, ultimately enabling a comprehensive prevention and control closed loop integrating testing, vaccination, management mechanisms, and specific therapeutics. Unlike general "therapeutic drugs," "specific antiviral drugs" can directly and effectively inhibit and clear the virus, thereby reducing viral shedding, post-infection sequelae, and social panic. CN-2021 is an orally administered domestic specific antiviral drug for COVID-19 in which CO-WIN has placed significant hope. Andikang possesses profound expertise and abundant resources in the fields of public health and infectious disease prevention and control. Always grounded in independent innovation, we are also confident in growing alongside the enterprise.

Heng Lei, Deputy Director of Investment at CO-WIN VenturesStatement: In the context of the long-term presence of the COVID-19 pandemic, small-molecule oral anti-COVID drugs serve as a critical preventive and therapeutic measure following COVID-19 vaccines, and are classified as national strategic reserve materials. As an original Chinese 3CL protease inhibitor with global intellectual property rights, CN-2021 demonstrates strong potential for future accessibility and curability. Additionally, Andikang’s product pipeline includes urgently needed clinical therapies for curable endometriosis, novel anti-influenza agents, and anti-RSV drugs. These candidates offer clear clinical value in niche areas with limited treatment options. Commercial viability stands as one of the most important criteria for evaluating the value of innovative drug projects.

Tan Wenlong, Partner at Langma Feng VenturesIt indicates that the domestically produced oral anti-COVID-19 specific drug CN-2021 possesses “robust technological prowess” comparable to that of nirmatrelvir, and is poised to provide a superior therapeutic option for COVID-19 treatment in the future, thereby holding promise for contributing Chinese strength to the global fight against the pandemic.

Xu Dilong, Partner at Shulan Junjie CapitalStatement: Andikang Biopharma is one of the few innovative biotech high-tech companies in China with a full product portfolio of innovative drugs for respiratory anti-infective treatments. While Shulan Junjie Capital provides financial support for Andikang Biopharma’s product pipeline, it also aims to offer superior clinical support for the market launch of CN-2021, a domestically produced oral specific therapeutic agent for COVID-19.

Anticon Biopharma was established in June 2018. It built a 1,200-square-meter platform for the discovery and screening of novel anti-infective drugs targeting respiratory diseases in Jiaxing Science and Technology City, and subsequently established its administrative center, Department of Clinical Medicine, and Business Development Department at the Shanghai Hongqiao Business Center. Led by several top Chinese scientists and academicians, Anticon Biopharma boasts an efficient and pragmatic project team with a global vision, dedicated to improving the accessibility of innovative drugs for respiratory infections in China.