CentryMed Announces $Hundreds-of-Millions Financing Round Led by Taikun Capital with HaoYue Capital as Exclusive Financial Advisor

In January 2022, Zhejiang Shimai Pharmaceutical Co., Ltd. (hereinafter referred to as “Centrymed”), a company dedicated to source innovation and aiming for international excellence in the research and development of targeted antibody drugs for malignant tumors and autoimmune diseases, announced the completion of a new round of financing amounting to hundreds of millions of yuan. This round was led by Taikun Fund, an affiliate of Tigermed, with participation from Guangdong Yue Min Tou, Hongxin Capital, Anji Maisheng, Zhejiang Yongxi, and Hangzhou Chenghe as co-investors. The Binjiang District Government Fund, Hangangtou, also participated in the investment, while existing shareholders such as Beta Pharma and Cyborg continued to increase their stakes. Joywise Capital served as the exclusive financial advisor for this financing round.

The funds raised in this round will be primarily used to advance domestic and international clinical trials for core blockbuster products, including the Class I novel drug DNV3 (for solid tumors and lymphoma), the bispecific antibody SMET12 (for EGFR-high solid tumors), and CMD003 (for autoimmune diseases). The proceeds will also support clinical trial applications for CMD009 (solid tumors), CMD011 (liver cancer), and CMDE002 (solid tumors), as well as the development of other pipeline projects. This will accelerate drug commercialization and promote the industrialization of a series of source-innovative antibody products.

Centrymed established targeted antibody drug R&D bases in the United States and China in 2016 and 2017, respectively. By integrating the information technology advantages of both countries, with its U.S. R&D center as the lead and its Hangzhou facility as the support, the company has built a closed-loop system for source-innovative antibody drug development. This system encompasses core technologies such as an ultra-large-capacity antibody library and hybridoma antibody screening system, a uniquely designed bispecific antibody platform, and a comprehensive drug evaluation system. Meanwhile, Centrymed has assembled high-quality teams for CMC process development and clinical research. Currently, the company is on a fast track of development, having developed a series of source-innovative mono- and bispecific antibody products at various stages. Several of its most advanced candidates are global First-In-Class antibody drugs. These globally competitive products feature distinct functional differentiations that address existing clinical pain points and avoid homogeneous competition with other companies.

In the coming years, the Company will firmly seize the strategic window of opportunity, proactively address challenges in innovation, and remain committed to clinical value orientation. Leveraging its globally competitive innovative technology platforms, the Company will continue to explore new technologies and novel drugs, replacing homogenization with differentiated solutions. It will broaden its international perspective and accelerate its globalization efforts. Meanwhile, through diversified business models such as licensing of technology platforms and collaborative product development, the Company will work closely with pharmaceutical enterprises both domestically and internationally. While achieving self-sustainability and advancing its own product pipeline, the Company will also provide a rich portfolio of product outputs to other pharmaceutical companies, thereby fostering the robust growth of China’s biopharmaceutical industry.

A biomedical industry fund jointly established in 2021 by Tigermed, Hangzhou State-owned Capital Investment and Operation Co., Ltd., Hangzhou Hi-Tech Venture Capital Co., Ltd., and Hangzhou Tailong Venture Capital Partnership (Limited Partnership). Relying on Tigermed’s industrial layout as a clinical CRO and aligning with Hangzhou’s strategic development plan for the pharmaceutical industry, the Taikun Fund operates on a market-oriented basis. Focusing on the life and health industry, it prioritizes enterprises in innovative medical devices, biopharmaceuticals, healthcare services, healthcare informatization, digital therapeutics, intelligent manufacturing, and nutritional health, covering all stages of corporate development.

Guangdong Private Equity Investment Fund Management Co., Ltd. was established in 2017 as a professional equity investment management company controlled by Guangdong Private Investment Co., Ltd. With the mission of “identifying high-quality enterprises and accompanying their growth,” the firm is committed to providing long-term wealth management services for investors. Its key investment sectors include life sciences, mass consumption, frontier technologies, and high-end manufacturing.

Originating from Silicon Valley, Sai Zhi Bo Le Fund pioneered a hybrid “RMB + USD fund” model that blends Eastern and Western approaches. The firm is dedicated to serving early- to mid-stage technology innovation enterprises, with a strategic focus on emerging industries such as semiconductors, biopharmaceuticals, artificial intelligence, big data, high-end equipment, and new materials. It has successfully invested in and nurtured dozens of listed companies and unicorns. With assets under management exceeding RMB 15 billion, the fund has been repeatedly recognized by Forbes and Zero2IPO as one of China’s Best Venture Capital Firms.

Beta Pharma is a high-tech pharmaceutical enterprise founded by a team of highly skilled returnees, with the R&D of innovative drugs based on independent intellectual property rights at its core, integrating research and development, production, and marketing. The company independently developed China’s first small-molecule targeted anti-cancer drug, Icotinib Hydrochloride (brand name: Conmana), which has benefited over 300,000 lung cancer patients and won the First Prize of the National Science and Technology Progress Award—the first such honor in China’s chemical pharmaceutical industry and among enterprises in Zhejiang Province. It has also successfully developed Beimeina, China’s first innovative drug targeting the ALK pathway for lung cancer, and Bei’anting, Zhejiang Province’s first biosimilar of bevacizumab, filling multiple gaps at both the national and provincial levels. Focusing on major diseases such as malignant tumors and diabetes, the company continues to increase its investment in new drug R&D, with more than 40 innovative drugs under development and 18 in clinical trials, striving to develop more affordable, high-quality medicines for the public.

Shanghai Hongxin Equity Investment Fund Management Co., Ltd. was established in 2009 as a professional investment institution specializing in private equity investment. Its core team possesses extensive practical experience in investment and investment banking, with a primary focus on three key sectors: electronic information, high-end equipment, and healthcare. Notable investment portfolio companies include ASR Microelectronics (688220), New Capec (300248), AMEC (688012), XinQiangLian (300850), Xinbang Intelligence (approved by the ChiNext Listing Committee), Xinba Intelligence, So-Young International (NASDAQ), TianGuangShi (HKEX application accepted), Tianjiang Pharmaceutical (acquired by a listed company), Yihua Pharmaceutical (688176), and Aumo Pharma.

Anji Maisheng, established in 2021, is a venture capital firm rooted in the Yangtze River Delta. Upholding its original aspiration of “matching precise services to non-standardized needs,” it founded the “Wenyuan Biology” industry acceleration platform in Hangzhou, with a focus on clinical applications and technological development. The platform incubates and invests in dozens of early- to mid-stage innovative life and health enterprises annually. Its investment scope covers pharmaceuticals and biotechnology, innovative medical devices, digital health and digital therapeutics, and healthcare services, spanning all stages of corporate development.

Yongxi Investment was established in 2015 as an asset management company holding licenses for both securities and equity investments. Since its inception, the firm has launched a total of 36 products, with cumulative assets under management (AUM) reaching RMB 2 billion. Among these, ten are private equity funds, managing approximately RMB 600 million. The company’s core business activities include equity investment, securities investment, and fund of funds (FOF) strategies. Adhering to the operational philosophy of “integrity, professionalism, prudence, and mutual success,” Yongxi focuses on equity investments in key sectors such as advanced manufacturing, healthcare and pharmaceuticals, and the internet industry.

Chenghe Venture Capital, established in 2006, is a private equity fund management institution primarily engaged in venture capital and investment management. The firm has managed cumulative funds exceeding RMB 3 billion, including six government-guided funds and one fund sponsored by a subsidiary of a listed company. It has invested in more than 50 companies either directly or indirectly, with investment sectors covering innovative technology, scarce resources, consumption upgrades, healthcare, and biotechnology. Thirteen portfolio companies led by the managing partners have successfully listed on China’s Main Board or SME Board, one has listed on the New York Stock Exchange in the United States, two have exited through acquisitions by domestic listed companies, and four have been listed on the National Equities Exchange and Quotations (NEEQ).

Hanggao Sci-Tech Innovation is the operational management institution for the Industrial Fund of Hangzhou High-Tech Zone (Binjiang). It is positioned to invest in high-tech industries, incubate startups, and develop and operate platforms for innovation and entrepreneurship. The organization aims to help the High-Tech Zone incubate a cohort of high-quality tech-based startups, expand a group of rapidly growing “gazelle” enterprises, and cultivate a number of industry-leading companies. By striving to build a tiered industrial development ecosystem, it provides strong support for the High-Tech Zone’s goal of becoming a world-class high-tech park.