Fabuxintian Secures Nearly RMB 100 Million in Pre-A Funding to Advance Radiopharmaceutical Development and Files IPO Prospectus

Recently, Beijing Faber New Sky Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "Faber New Sky") announced the completion of its Pre-A financing round, raising nearly RMB 100 million.This funding round was led by Genesis Capital, with participation from Shunwei Capital, Taiyu Ankang, and Beijing Xinghang. Chana Capital served as the exclusive financial advisor.. This funding round marks the first introduction of institutional investors, with the proceeds primarily allocated to the regulatory filing of in-house developed products and subsequent R&D investment in new products.

Wang Chun, founder of Fabre New Sky, stated: “The investors possess a profound understanding and unique insights into the development of the biopharmaceutical industry, while also giving full recognition to Fabre New Sky’s founding team, business model, and R&D direction. We deeply value this trust and will diligently uphold our corporate values, steadily advance our research and development efforts, achieve scientific and commercial success, and fulfill our role in alleviating human suffering and promoting public health at the earliest possible stage.”

As an emerging discipline in modern medicine, nuclear medicine utilizes radionuclides to diagnose, treat, and study diseases. It provides a comprehensive reflection of pathological states and is widely applied in tumor diagnosis and treatment, myocardial imaging, early detection of neurodegenerative diseases, and imaging diagnosis of inflammatory tissues. The “soul” of nuclear medicine lies in radiopharmaceuticals (nuclear drugs). Radiopharmaceuticals can be categorized into two major classes based on their intended use: diagnostic and therapeutic. Diagnostic radiopharmaceuticals, when combined with SPECT or PET, enable the study of drug function and metabolic processes in vivo at the molecular level. They achieve rapid, non-invasive, and real-time imaging of physiological and pathological processes, representing a qualitative leap over conventional imaging-based medical diagnostics and providing means for true early diagnosis and timely treatment. Therapeutic radiopharmaceuticals are agents used in radiotherapy; they destroy specific cells, such as tumor cells, through radiation emitted from the radiopharmaceuticals.

Currently, China's radiopharmaceutical research and development started relatively late. With the heating up of the nuclear medicine market and the continuous expansion of the domestic nuclear medicine equipment market, nuclear medicine, including radiopharmaceuticals, has huge development space and market prospects in the future.

Fabre New Sky is an innovative drug R&D company focused on the field of nuclear medicine, specializing in providing comprehensive solutions for the translation of scientists' independent innovations into tangible outcomes. Established on January 28, 2016, the company has developed a three-step strategic roadmap throughout its growth journey. In the first phase, Fabre New Sky established a relatively complete service chain, offering robust end-to-end solutions for new drug translation, thereby becoming a specialized CRO dedicated to nuclear medicine. In the second phase, the company gradually acquired product rights for certain service projects through various means, including reasonable profit-sharing arrangements. In the third phase, by engaging with scientists at early stages and fully leveraging domestic academic and R&D resources, the company built its proprietary R&D platform and accumulated a pipeline of new products. Fabre New Sky has thus evolved into a novel drug development enterprise specializing in molecular imaging and nuclear medicine.

As one of the leading enterprises in domestic radiopharmaceutical R&D, the founding team of Faber Xintian comprises members from prestigious universities and institutions both in China and abroad, including Peking University Health Science Center (formerly Beijing Medical University), the Academy of Military Medical Sciences, Nanjing University, and the University of California. Each member brings extensive experience in their respective fields. The company boasts excellent R&D capabilities and expert resources, has secured leading domestic intellectual property rights in radiopharmaceuticals, and established a highly differentiated product pipeline. It possesses rare professional expertise in China regarding radiopharmaceutical regulatory submissions and an in-depth understanding of the Chinese radiopharmaceutical industry chain. Faber Xintian’s radiopharmaceutical portfolio encompasses both diagnostic and therapeutic agents, characterized by a solid research foundation, low overall development risk, robust projects, and broad market prospects. Furthermore, building on its independent R&D efforts, Faber Xintian has established a leading joint R&D platform with university medical schools. Several top-tier clinical experts in nuclear medicine have joined as medical advisors to participate in full lifecycle product management, thereby forming a relatively comprehensive and innovative radiopharmaceutical R&D team.

In 2014, Farber Xintian collaborated with leading Chinese experts in nuclear medicine to develop a Class 1 novel injectable drug for tumor imaging diagnosis, taking the lead in completing the project’s preclinical studies and Investigational New Drug (IND) application. On May 18, 2018, it obtained China’s first clinical trial approval for a Class 1 radiopharmaceutical. The company completed Phase I and Phase III clinical trials, with a waiver granted for Phase II. On January 7, 2022, the project team held a press conference to announce the completion of the Phase III registration clinical trial, having met both primary and secondary clinical endpoints. The marketing authorization application for this Class 1 novel drug was expected to be submitted in the second quarter of 2022, thereby completing the entire R&D and regulatory submission process for China’s first Class 1 novel radioactive diagnostic drug. Meanwhile, Farber Xintian has transitioned from providing pure services to engaging in collaborative development, such as the joint development of ultrasound contrast agents. This product is expected to launch in 2023. Through this innovative model, Farber Xintian will secure product rights in advance.

Currently, Farber Xintian has established three leading technical platforms in China: a high-efficiency target molecule screening platform, a site-specific radionuclide labeling platform, and a platform for combined physical targeted radiotherapy and immunotherapy for solid tumors. Its high-quality translational nuclear medicine research and efficient clinical-scientific interaction model ensure that addressing clinical needs remains the core purpose and original intention of its R&D efforts. The company’s products are strategically focused on three areas: diagnosis and differential diagnosis, radiopharmaceutical targeted therapy, and molecular imaging-guided targeted or immunotherapy. Leveraging the advantages of nuclear medicine, Farber Xintian rapidly evaluates products using in vivo data, ensuring drug developability and maximizing the optimization of other pharmaceutical properties. Its clear first-mover advantage, established early-stage service foundation, and rich product pipeline create diverse collaboration opportunities with industry partners, thereby enhancing the company’s risk resilience. Farber Xintian will continue to focus on the fields of molecular imaging and nuclear medicine, leveraging its prior service experience to provide strong support for independent R&D processes, ensure high success rates in regulatory submissions, and bring new hope for the diagnosis and treatment of clinical diseases.

“We believe that radiopharmaceuticals will inevitably become foundational agents in oncology treatment. China’s nuclear medicine sector, encompassing both diagnostic and therapeutic markets, exhibits substantial growth potential. Given the high druggability and clear innovative nature of these agents, all indicators suggest that this field will enter a phase of rapid expansion over the next five to ten years. Therefore, within the innovative drug landscape, which is fraught with uncertainty, Faber Xintian aims to contribute some compelling certainty,” stated Wang Chun, CEO of Faber Xintian.

Li Kechun, Partner at Yuansheng Venture Capitalstated, “We are honored to lead the investment in Faber Xintian. We are not only bullish on the nuclear medicine sector but also place great value on the core founding team led by Mr. Wang Chun, which possesses profound capabilities in R&D, manufacturing, marketing, and sales. Their years of experience in nuclear medicine—spanning from CRO services to project translation and new drug development; from new product initiation to project planning; and from the accumulation of intrinsic corporate value to the extension of ecosystem value—have demonstrated robust execution through steady, step-by-step progress. We look forward to the rapid market launch of the company’s products to address unmet clinical needs, thereby benefiting patients, families, and society.”

Wu Wentao, Vice President of Shunwei Capital“It is stated that, as one of the few teams in China with extensive practical experience in translational research and regulatory submissions in nuclear medicine, Faber New Sky has established a technically advanced and distinctive nuclear medicine research platform through efficient industry-academia-research collaboration with leading domestic nuclear medicine research institutions and experts. Guided by actual clinical needs, the company has built a diversified and differentiated product pipeline, achieving rapid progress within a short timeframe. Shunwei Capital is optimistic about the future of China’s nuclear medicine market and is pleased to support Faber New Sky’s rapid development. We look forward to the early market launch of the company’s products, which will benefit patients and contribute to society.”

Dr. Ji Tianrong, Founder & General Manager of Taiyu InvestmentIt stated: “The nuclear medicine sector is characterized by high technological barriers and offers unique advantages in precision medicine and integrated diagnosis and therapy, particularly in the diagnosis and treatment of tumors. There is a certain gap between China and Western countries in the application of radiopharmaceuticals, indicating substantial room for future growth. Faber Xintian is one of the earliest companies in China to provide clinical services for radionuclide drugs. With extensive experience in the R&D process of radionuclide drugs, the company is also building its own product pipeline, aiming to bring its products to market as soon as possible to benefit cancer patients in China.”

Su Hongwei, Executive Director of Xinhangcheng Fund and Administrator of Beijing XinghangHe stated, “As the industrial investment platform for the Beijing Daxing International Airport Economic Zone, we are committed to identifying high-quality emerging enterprises and growing alongside them. We are honored to partner with Faber New Sky, a company brimming with creativity. The research and development of radiopharmaceuticals is a process filled with both imagination and challenges. The company’s product portfolio covers both the diagnosis and treatment of tumors, and it will play a significant role in enhancing the accessibility of diagnostic radiopharmaceuticals and expanding the diversity of therapeutic agents for oncology. We firmly believe that, leveraging its outstanding team and robust technical platform, Faber New Sky is poised to shine brightly in the field of radiopharmaceutical development. We look forward to witnessing the mutual growth of the company and the Airport Economic Zone together with all stakeholders!”

YuanSheng Venture Capital is an investment firm focused on the early and growth stages of the healthcare sector, headquartered in Suzhou BioBAY with a global reach. To date, it has invested in over 140 outstanding companies in the life and health sectors, covering four key areas: novel drug development, medical devices, in vitro diagnostics and precision medicine, as well as healthcare services. The firm has achieved substantial investment returns, with 13 of its portfolio companies listed on capital markets such as the Hong Kong Stock Exchange and the STAR Market. YuanSheng Venture Capital has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. By bringing together seasoned professional investors and a team of world-class scientific advisors, YuanSheng Venture Capital possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging our professionalism, focus, and abundant industry resources, we are committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.

Shunwei Capital focuses on mobile internet, intelligent manufacturing, deep tech, and enterprise services. Its representative domestic and international investments include over 400 outstanding companies such as Xiaomi Corporation, Ninebot, Agora, iQIYI, NIO, ShareChat, and Meesho. By investing in visionary enterprises from the early to growth stages, Shunwei Capital aims to make our lives better.

Taiyu Investment, established in 2014, is an independent venture capital firm under Tigermed. Taiyu Investment focuses on equity investments in early-stage and growth-stage companies within the healthcare sector. Its management team boasts profound industry expertise, extensive sector resources, and rich investment experience. To date, it has completed investments totaling RMB 1.5 billion across nearly 100 projects, with a portfolio spanning medical devices, biopharmaceuticals, contract research organizations (CROs), and health supplements. By empowering its portfolio companies, Taiyu Investment creates value for the development of the healthcare industry in China and globally, contributing to public health.

Beijing Xinghang Phase I Industrial Equity Investment Fund (Limited Partnership) is a fund under the management of Beijing New Airport City Fund Management Co., Ltd., with a total fund size of RMB 1 billion. Established on February 25, 2015, Beijing New Airport City Fund Management Co., Ltd. is a professional investment institution under Beijing New Airport City Holdings Co., Ltd., dedicated to serving the Beijing Daxing International Airport Economic Zone. The company adopts a “sub-fund + direct investment” model, committed to identifying and attracting high-quality projects to settle in the airport economic zone, thereby providing preferential policies and conveniences to enterprises, supporting their growth, and promoting regional industrial development. Currently, the company manages funds totaling approximately RMB 2.6 billion, with investments spanning industries such as life and health, logistics and supply chain, aviation support services, intelligent manufacturing, and next-generation information technology.