Luzhu Bio Completes B+ Financing Round to Accelerate Clinical Development of Innovative Vaccines and Bispecific Antibodies

VCBeat (WeChat: vcbeat) learned at the earliest opportunity that on January 2, 20228Recently, Beijing Luzhu Biotechnology Co., Ltd. (hereinafter referred to as “Luzhu Biotech”) announced the completion of1.2100 million yuanSeries B+ Financing. This round of financing was jointly invested by institutions and strategic partners including Xuanhong Fund, Mingfeng Capital, Shaanxi Financial Holdings / New Era Capital, and Mingsheng Capital. WinX Capital continued to serve as the financial advisor.

This round of financing followsFollowing the RMB 350 million Series B financing round in August 2021, which was led by CCB International and strategically co-invested by two A+H listed companies, Tigermed and Livzon Pharmaceutical, a new round of financing was rapidly completed.This will significantly accelerate the clinical trials of the company’s independently developed recombinant zoster vaccine, LZ901, in China and the United States, as well as the Phase I/II clinical studies of the bispecific antibody CD19-CD3 for the treatment of relapsed/refractory B-cell acute lymphoblastic leukemia (ALL) and relapsed/refractory B-cell non-Hodgkin lymphoma (NHL).

Mr. Kong Jian, Founder, Chief Executive Officer, and Chief Scientist of LUZHU BIOTECHHe stated, “We are deeply grateful to our Series B+ investors for their strong recognition of the company’s innovative products and sustained R&D capabilities, as well as for completing their investment decision within a short timeframe. The R&D team at LUZHU BIOTECH has been engaged in the development of innovative vaccines and antibody-based therapeutics for over two decades. We remain committed to addressing critical unmet needs in disease prevention and treatment by developing innovative vaccines and medicines that fulfill societal demands. We hope that, after undergoing rigorous clinical trials, our drugs and vaccines will become high-quality products that benefit both patients and the general public.”

Ms. Jiang Xianmin, Co-founder and Chief Medical Officer of LUZHU BIOTECHstated: “The Company’s core product, the recombinant zoster vaccine, has initiated clinical trials and is progressing rapidly. We hope this vaccine will provide elderly individuals with an effective preventive experience against herpes zoster. Currently, clinical studies of multiple drug and vaccine candidates are advancing steadily. We are confident that our company will bring more products to benefit a broader population and patients in the future.”

Investors in this round stated“The team led by Mr. Kong Jian and Mr. Jiang Xianmin is highly pragmatic and demonstrates exceptional execution capabilities, which we greatly appreciate. The core team at LUZHU BIOTECH possesses solid technical expertise and extensive proven success in the vaccine industry. Notably, LUZHU BIOTECH’s recombinant zoster vaccine has been submitted to the U.S. FDA for clinical trial approval, making LUZHU BIOTECH the first Chinese enterprise to file an investigational new drug application for a vaccine with the United States. We deeply admire LUZHU BIOTECH’s pioneering spirit. We are delighted to co-invest and support the company’s robust growth.”

Financial Advisor: Kaicheng Capitalstated, “We extend our sincere gratitude to Professor Kong and both new and existing shareholders for their trust. Kaicheng Capital has served as the financial advisor for two consecutive financing rounds. Through our collaboration with Professor Kong and the senior management team, we have been deeply impressed by LUZHU BIOTECH’s focused, scientifically rigorous, and pragmatic approach, as well as its patient-centric strategy in initiating innovative vaccine development projects. The team’s proven track record in successfully bringing multiple innovative vaccines to market fully demonstrates its capability for continuous product innovation. We look forward to working alongside Professor Kong and all shareholders to support LUZHU BIOTECH in becoming a globally leading innovative vaccine brand.”

Following this round of financing, the company will accelerate the construction of its industrialization base in Zhuhai and initiate operations at an appropriate time.IPO Plan; WinX Capital Continues to Serve as the Company’s Financial Advisor.

LUZHU BIOTECH was established in November 2001. The company’s co-founders are Mr. Kong Jian, former researcher at the Beijing Institute of Biological Products; Ms. Jiang Xianmin, former associate researcher; and Ms. Zhang Yanping. In response to the lack of vaccines available both domestically and internationally for preventing meningococcal meningitis infection in children under two years of age, and leveraging their mastered polysaccharide-protein conjugation technology,Successfully developed multiple bacterial polysaccharide-protein conjugate vaccines and high-purity, low-pyrogen polysaccharide vaccines (all have been transferred to the listed company Zhifei Biological Products, stock code:300122.SZ), LUZHU BIOTECH is the world’s first company to develop a Group A and Group C meningococcal polysaccharide conjugate vaccine.The company has cumulatively filed 12 invention patents for innovative drugs (including 2 PCT applications) and has been granted 5 invention patents. Over the past five years, it has obtained two clinical trial approvals for monoclonal antibody biosimilars, one for a bispecific antibody, one for an inactivated viral vaccine, and one for a recombinant viral protein vaccine.

In November 2018, LUZHU BIOTECH established its wholly-owned subsidiary, Luzhu Biopharmaceuticals (Zhuhai) Co., Ltd., in Jinwan District, Zhuhai City. Covering an area of 105 mu, the company focuses on the research, development, and manufacturing of high-end human vaccines and biological products, striving to build a world-class industrial base for biopharmaceuticals that meets international high standards.

LUZHU BIOTECH has always adhered to the principle of “people-oriented, striving for excellence,” focusing on human vaccines and therapeutic monoclonal antibody drugs as its main research directions. The company insists on independent research and development while actively introducing internationally leading technologies to develop and produce vaccine products and biological products that meet market demands.

WinX Capital is a leading investment bank in China’s healthcare sector. Five members of its founding team hold Ph.D. degrees in Global Finance from the PBC School of Finance at Tsinghua University, while its frontline team boasts an average of over 10 years of experience in management, investment, and mergers and acquisitions (M&A), with cumulative transaction values exceeding RMB 30 billion. Headquartered in Beijing and Shanghai, WinX Capital maintains coverage of more than 3,000 active institutional investors and industrial conglomerates. In 2020 and 2021, it was consecutively ranked among the “Top 5 Most Promising Emerging Investment Banks in China” by 36Kr under its WISE initiative, and recognized as one of the “Top 4 Best Financial Advisory Firms in Healthcare” for 2020 and “Top 2 Best Financial Advisory Firms in Healthcare” for 2021 by Qiming Technology & Xinsheng Chuangfu.