Shanghai Biomedical Fund Solely Leads Angel Round in BioTroy Therapeutics to Advance Novel Immune Checkpoint Inhibitors
Shanghai Baiquan Biotechnology Co., Ltd. (hereinafter referred to as “Baiquan Bio”) recently announced the completion of its angel round financing, amounting to tens of millions of yuan. This round of financing was led byLed by Shanghai Bio-medicine Fund, with follow-on investment from ATLATL Accelerator。
Founded in December 2020 in Shanghai Lingang, Baitro Bio has built an integrated platform for discovering novel targets in tumor immunology—BioTroy Engine—based on the founding team’s unique and profound insights in the field. Through systematic studies including clinical proteomics and receptoromics, the company has fully validated the function of these new targets in independently mediating tumor immune escape, as well as their corresponding value in translational medicine development.
Meanwhile, the company has established a robust patent barrier, securing protection for novel targets across multiple dimensions, and has completed the development of platforms for target biology, antibody discovery, and upstream process development, thereby ensuring its comprehensive competitive advantage.
Based on the BioTroy Engine, Baiquan has discovered a series of first-in-class immuno-oncology (IO) targets, including BT1 and BT2. The BT1 and BT2 targets are involved in previously uncharacterized novel pathways of immune escape. They exhibit high expression in various high-incidence solid tumors, such as lung cancer, breast cancer, colorectal cancer, gastric cancer, and esophageal cancer. Under normal physiological conditions, they respectively mediate immune privilege during sexual reproduction and in the testes, thereby achieving potent immune suppression.
Boquan has identified four receptors that bind to the BT1 target. By developing monoclonal antibodies against BT1, Boquan effectively blocks the interaction between BT1 and its downstream receptors, thereby relieving BT1-mediated inhibition of T cells while simultaneously suppressing the generation of regulatory T cells (Tregs) and myeloid-derived suppressor cells (MDSCs). BT2 is a newly discovered inhibitory ligand for T-cell receptors, which exerts significant functional inhibition and pro-apoptotic effects on both CD8+ and CD4+ T cells. The elucidation of its critical functions holds promise for breakthrough advances in the field of immuno-oncology (IO). The monoclonal antibody developed by Boquan Biologics effectively blocks BT2 function and mediates antibody-dependent cellular cytotoxicity (ADCC), demonstrating potent anti-tumor efficacy in both in vitro and in vivo pharmacodynamic models. Furthermore, the distinct clinicopathological features associated with the BT1 and BT2 targets indicate that these two pipeline candidates can provide therapeutic solutions for patients who are non-responsive or resistant to current clinical PD-(L)1 therapies.
Dr. Jie Xu, Founder and Chief Scientist of Baiquan BioStatement: BioTroy Therapeutics, true to the meaning embodied in its name “Troy,” is committed to driving innovative drug development by gaining deep insights into the underlying mechanisms of disease. Through robust translational medicine research, BioTroy has achieved key progress in multiple areas, including intellectual property portfolio strategy and R&D advancement. The science behind the BT1 and BT2 antibody pipelines represents breakthroughs in understanding the T-cell “brake” mechanism, the immune privilege mechanism of the testis, and the key mechanisms of tumor immune evasion. We have also established patent barriers at various levels globally, covering targets, epitopes, antibody screening methods, and biomarkers, which will support BioTroy in achieving its goal of developing “First-in-Class & Sole-in-Class” therapies. We are honored to have received support from the Shanghai Biomedical Innovation and Translation Fund since the incubation stage. This round of financing will be used for the preclinical development of the BT1 and BT2 pipelines.
Guo Qiushan, President of the Shanghai Biomedical Innovation and Translation FundStatement: In recent years, the industry has continuously focused on and reflected upon the next breakthrough in cancer immunotherapy. Immune checkpoint inhibitors, as the earliest developed and most mature class of cancer immunotherapies, are now encountering numerous bottlenecks. There is a phenomenon of crowded R&D efforts around popular targets, and many combination therapy regimens lack robust mechanistic studies. Boquan Bio has accumulated profound research expertise in the field of immuno-oncology (IO) and has engaged in long-term exploration and practice in novel target discovery. By integrating biological validation with comprehensive protein-protein interaction studies, the company has identified entirely new tumor immune target genes with high potential clinical value and efficacy as monotherapies. The Shanghai Biopharmaceutical Industry Fund takes pride in Boquan Bio’s world-class original innovations and translational potential, exemplified by its BT1 and BT2 targets. Combining these disruptive discoveries in IO understanding with the company’s comprehensive patent portfolio around its targets, we anticipate that Boquan will emerge as an innovative drug company headquartered in Shanghai, possessing international influence and representativeness.
Shanghai Bio-Medicine Fund is a municipal-level industrial fund approved by the Shanghai Municipal People’s Government and initiated by Shanghai Industrial (Group) Corporation, with a total target assets under management of RMB 50 billion. Leveraging Shanghai’s comprehensive advantages in developing the bio-medicine sector and relying on industrial resources, the Fund aims to build an innovative investment platform for the bio-medicine field that is “based in Shanghai and Hong Kong, linked with the Yangtze River Delta, and oriented toward the global market.” The Fund will seize the unique opportunities arising from the combination of “market-oriented operations, industrial empowerment, and policy guidance,” integrating financial capital with industrial resources and combining domestic and overseas operations. It will focus on key areas aligned with Shanghai’s bio-medicine industry development strategy, including biologics, innovative chemical drugs, research and development outsourcing and services, medical devices and diagnostics, as well as innovative business models in the healthcare sector.
Shanghai Biopharmaceutical Innovation and Commercialization Fund is an early-stage fund under the Shanghai Biopharmaceutical Fund, focusing on investment opportunities in the “0 to 1” phase of the biopharmaceutical industry. It was jointly established by Shanghai Industrial Holdings (Group) Corporation, Shanghai Pharmaceuticals, Guofang Capital, and the Shanghai Angel Investment Guidance Fund. The fund prioritizes the successful translation and application of original scientific research achievements and cutting-edge innovative technologies. Aiming to build an innovation and commercialization platform that is “focused on Shanghai, linked with the Yangtze River Delta and the Greater Bay Area, and oriented toward the global market,” it invests in and supports original technologies with international leading standards. By connecting various innovation entities and service providers within the innovation ecosystem, the fund seeks to create a “Innovation + Industry + Capital” platform with distinct Shanghai characteristics.