Jingdan Bio Completes Nearly RMB 100 Million Pre-A Financing Round with Riemann Hypothesis as Exclusive Financial Advisor

VCBeat (WeChat ID: vcbeat) has learned that Shenzhen Jingdan Biopharmaceutical Technology Co., Ltd. (“Jingdan Bio” or the “Company”), a globally leading pharmaceutical R&D technology platform specializing in membrane proteins, recently announced the completion of its Pre-A financing round, raising nearly RMB 100 million. The round was led by Longmen Capital, with participation from Hongzhao Group, Goldport Capital, HitGen, TECHNOLOGY FINANCIAL GROUP, Zhongcheng New Industry, and Riemann-Hypothesis. Tiantu Capital, the lead investor in the previous round, continued to increase its investment. Riemann-Hypothesis served as the exclusive financial advisor for this financing round. Notably, Riemann-Hypothesis also participated in the investment.

Jingdan Biotech, established in 2019, is dedicated to the research and development of innovative drugs targeting membrane proteins (including ion channels and GPCRs) for major diseases such as chronic kidney disease and psychiatric disorders. The company’s core team hails from Harvard University and the Shanghai Institute of Materia Medica. Leveraging globally leading technologies in membrane protein stabilization antigens and Structure-Based Drug Design (SBDD), Jingdan Biotech develops small-molecule chemical drugs and biologics. The company has amassed a library of over one hundred ion channel and GPCR antigens and has received numerous prestigious industry awards, including the First Prize in the Biopharmaceutical Sector of the China Shenzhen Innovation and Entrepreneurship Competition, the “KeChuang ZhongGuo” Pioneer Technology Award, the National Excellence Award at the 9th China Innovation and Entrepreneurship Competition, a Top 10 ranking in the KeChuang ZhongGuo Science and Technology Innovation and Entrepreneurship Competition, and recognition as one of the Top 50 Biotechnology Innovation Enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area. The funds from this financing round will be primarily used to build a world-class drug screening platform for ion channels and GPCRs; advance chronic kidney disease therapeutics (for diabetic nephropathy and FSGS) into Phase I clinical trials; conduct new membrane protein structure elucidation and drug screening to expand the drug pipeline; recruit key core personnel; and support daily corporate operations.

As China’s population ages at an accelerating pace, chronic diseases have become the leading threat to the health of the Chinese people. Survey results indicate that in 2017, 1.2 million people worldwide died from chronic kidney disease (CKD). Between 1990 and 2017, the global all-age mortality rate from CKD increased by 41.5%. In China, the prevalence of CKD among adults is 10.8%, corresponding to approximately 120 million affected individuals. However, there are currently no specific drugs capable of significantly slowing the progression of CKD. Given the large patient population, any successfully developed pharmaceutical intervention would undoubtedly become a blockbuster drug.

Dr. Jin Zhang, Founder of Jingdan Bio“The company stated: ‘We extend our sincere gratitude to the investors in this round and our existing shareholders for their support and trust in Jingdan Biologics. This represents strong recognition of Jingdan Biologics’ innovative drug platform focused on membrane proteins, as well as its pipeline portfolio. Membrane proteins include ion channels and G protein-coupled receptors (GPCRs), with over 50% of drugs on the market targeting membrane proteins. The development of therapeutics targeting membrane proteins, particularly ion channels, has always been among the most challenging areas. To date, no antibody drugs targeting ion channels have been approved for marketing, and approved antibody drugs targeting GPCRs are limited to just two targets: the CGRP receptor and the CCR4 receptor. Jingdan Biologics aims to leverage its proprietary membrane protein antigens and antibodies, along with structure-based drug screening technologies, to strengthen source innovation capabilities and realize our vision of “making high-quality medicines accessible and affordable for the general public.”’”

Wang Haining, Founder of Longmen Capitalstated, “We are deeply honored to have participated as a lead investor in this financing round for Jingdan Bio. Jingdan Bio has developed leading membrane protein antigen technology and structure-based drug screening technologies, breaking through the bottleneck of ‘undruggable’ membrane proteins, continuously advancing its innovative drug development pipeline, and building a platform for novel membrane protein therapeutics. We eagerly anticipate that the historical lack of specific treatments for chronic kidney disease will be brought to an end through Jingdan’s efforts.”

Wang Jun, General Manager of Hongzhao FundIt stated: “The company’s core technologies and advantageous niche segments are protected by high barriers to entry, while the chosen therapeutic tracks are relatively less crowded, and its pipeline covers application markets that remain a blue ocean. However, the company’s focused areas and markets are showing early signs of heating up, with a high probability of becoming new hotspots for R&D in the future; there is an expectation of gradually increasing attention from the capital market and rising valuations. The company is a novel drug originator with distinct platform characteristics. Its current core technology platforms and sub-platforms cover all stages of preclinical candidate (PCC) development, forming a relatively complete, integrated system with seamless segment integration, thereby enabling the continuous launch of new pipelines and new product candidates in the future.”

Chen Jun, Chairman of Goldport Capital“Jingdan Bio boasts profound accumulation of foundational technologies, with its basic research and applied technologies in multiple specialized niches ranking among the world’s leading positions. It demonstrates clear competitive advantages compared to both domestic and international peers. The fields encompassed by its core technologies, as well as the clinical application areas it has entered, represent not only R&D bottlenecks but also vast markets with significant unmet needs, making its future growth prospects highly promising. It is a great honor to collaborate with an outstanding enterprise like Jingdan.”

Dr. Li Jin, Chairman and Chief Executive Officer of HitGen“Membrane proteins play a crucial role in biological systems and serve as targets for many important drugs. With advances in science and technology, the application of such targets in new drug development has garnered significant attention. The Jingdan team possesses profound technical expertise and R&D capabilities in this field, having established a core technology platform and an efficient R&D ecosystem for innovative small-molecule and biologic drugs targeting key molecules. Its pipeline of new drug candidates is beginning to emerge, demonstrating clear differentiated advantages. HitGen has always been committed to empowering innovative drug discovery with cutting-edge scientific technologies. We are delighted to invest in Jingdan Bio, a highly innovative startup platform company, and look forward to empowering new drug development through our long-term collaboration.”

Wei Guoxing, Partner at TIANTU CAPITAL“TIANTU CAPITAL’s decision to increase its investment in Jingdan Bio during this financing round stems from the strong execution capabilities and sustained growth potential we have observed in the team since our initial investment. The company has demonstrated the ability to consolidate and further amplify its existing advantages in the field of membrane proteins throughout its development. We are delighted to continue supporting Jingdan Bio’s top-tier team in further building its pharmaceutical R&D technology platform for membrane proteins, thereby consistently delivering an exciting pipeline of new candidates. TIANTU CAPITAL will remain fully committed to providing support and empowerment to facilitate Jingdan Bio’s rapid growth.”

Zhuang Kemin, Partner at TECHNOLOGY FINANCIAL GROUPstated: “We believe that Jingdan possesses significant core competitiveness and unique comprehensive platform advantages, with high-quality fundamentals. Driven by capital infusion, it has the potential for rapid expansion and is a high-quality enterprise with genes for high growth, aligning well with Yueke Xintai’s consistent investment style.”

Jin Zhigang, Executive Vice President of China City New Industrystated: “Jingdan Bio has accumulated years of R&D expertise and technical know-how in the field of innovative membrane protein therapeutics, boasting an industry-leading technology R&D platform. It holds an international leading position particularly in membrane protein structural stabilization and antigen expression. The Jingdan Bio team demonstrates excellent execution capabilities and a rigorous, pragmatic scientific approach. We were immediately impressed by Dr. Zhang Jin’s team, with a clear and firm intention to invest. We hope the team will proceed steadily and achieve success.””

As the financial advisor and co-investor in this round of financing,Dr. Li Chaoxing, Chairman of Riemann-HypothesisIt stated: “Jingdan Bio is a rare, high-quality membrane protein platform company in China in recent years. The company boasts a first-class team, cutting-edge technology, and outstanding achievements, with a relatively low valuation and significant growth potential. Its three core platforms—the small-molecule drug screening platform based on target structure, the antibody and nanobody candidate drug screening platform, and the macromolecule blood-brain barrier penetration platform for treating brain diseases—offer excellent scalability and safety margins, enabling the continuous discovery and production of original and first-in-class innovative drugs. Furthermore, the company’s team demonstrates strong execution capabilities, and its internal management is standardized and rigorous, effectively balancing research, production, and management. This further strengthens our confidence in the Jingdan project.”

Longmen Capital is a specialized venture capital firm in the pharmaceutical industry, focusing on early-stage and growth-stage investments in pharmaceutical and biological innovations. All team members have medical or biological backgrounds and possess years of experience in pharmaceutical investment and industry operations. Since its establishment in 2017, Longmen Capital has invested in more than 30 pharmaceutical companies, including Changfeng Pharma, Stmicrobe, Sirnaomics, Kyee Technology, Huada Bio, and Zhongji Zhiyao, with assets under management reaching RMB 2 billion. Adhering to the principles of independent research and value discovery, Longmen Capital serves as an early investor for many innovative enterprises, aiming to promote the industrialization of scientific and technological achievements through capital support.

Hongzhao Fund holds a private equity fund management license in China. Overseas, in addition to operating independent fund management companies, it has established specialized fund management companies through joint ventures with multiple renowned institutions, collaborating on investment and M&A activities for projects both domestically and internationally. Its key focus areas include frontier and innovative sectors such as healthcare and wellness, TMT (Technology, Media, and Telecom), and intelligent manufacturing. Hongzhao Fund adopts an asset allocation strategy that balances security and returns, supported by top-tier industry execution teams, partners, and investment advisory teams. It implements professional, rigorous, and transparent investment decision-making and management mechanisms, strategically positioning itself in high-quality global industry tracks to seize domestic and overseas investment opportunities while deeply integrating resources from various industrial groups and investment institutions.

Goldport Capital, established in 2014, is an investment-enabling management firm whose primary sponsors possess an average of approximately 20 years of experience in investment and corporate management, along with substantial backgrounds in engineering and technology. The Goldport team advocates for a global perspective and currently focuses on international hard-tech investments through its Hong Kong-based fund. With assets under management totaling RMB 4 billion, the company has successfully invested in numerous high-quality enterprises, including JPT (SH688025), Aite Network Energy (SH600510), Xinrui Technology (SZ300745), Harbour BioMed (02142.HK), MicroPort NeuroTech (02235.HK), Nurotron, Taiyan Semiconductor, Qier Electromechanical, Elephas Acoustics, Muwang Technology, Linhuiba, Beiteli, Huasixu, Burui Biotechnology, Ruihua Pharmaceutical, Rouling Technology, Bohua New Energy, and Yonglian Technology. Its investment portfolio spans integrated circuits, intelligent manufacturing, healthcare, new materials, TMT, and artificial intelligence.

Chengdu HitGen Co., Ltd. is a rapidly growing biotechnology company engaged in new drug research and development. Headquartered in Chengdu, China, the company has subsidiaries in Cambridge, UK, and Houston, USA, and was listed on the STAR Market of the Shanghai Stock Exchange in April 2020 (Stock Name: Chengdu HitGen; Stock Code: 688222.SH). HitGen has established an internationally leading technology platform for small-molecule new drug discovery and optimization, centered on DNA-encoded library (DEL) design, synthesis, and screening, as well as fragment-based and structure-based drug design (FBDD/SBDD). To date, the company has synthesized 100 trillion novel, diverse, and drug-like DNA-encoded compounds based on hundreds of different scaffold structures. Multiple cases have demonstrated its capability to screen for hit compounds against both known and emerging biological targets.

Tiantu Capital, founded in 2002, is one of the earliest professional institutions engaged in equity investment in China. It has offices in Shenzhen, Beijing, Shanghai, and Hong Kong, with a professional investment team of over 50 members. The Tiantu VC team was established in 2016 and currently manages three VC funds, one angel fund, and one US dollar fund, with a total assets under management exceeding RMB 4 billion. After five years of practice, it has formed a relatively mature investment decision-making system and has invested in more than 100 early-stage projects.

TECHNOLOGY FINANCIAL GROUP specializes in venture capital investment management, project investment management, and the planning and consulting of investment projects. The company’s investment team comprises nearly 50 professionals and has completed over 100 investment cases. Its portfolio of companies that have gone public includes Huafeng Micro, Hongqiang Group, Jiacheng International, Saifutian, Keshun Waterproofing, and Guangdong Hongtu.

Zhongcheng New Industry Holding Group, established in 2015, is a leading industrial park developer and operator in China. Based on the critical needs of enterprises, Zhongcheng New Industry has built the Zhongcheng comp@ss Industrial Ecosystem Service Platform, focusing on six key thematic industries, including intelligent manufacturing and life sciences. The company conducts business activities such as park development, investment promotion, operational management, and customer services centered around these thematic industries. Zhongcheng Financial Services, established in March 2019, serves as the technology investment arm of Zhongcheng New Industry, with its business scope covering equity investment and financing services for park-based enterprises. Since its inception, it has invested in multiple technology-driven companies, including Lewei Pharmaceutical and Zhihan Equipment, thereby supporting the industrial ecosystem within its parks.

Riemann-Hypothesis, founded by Dr. Li Chaoxing upon his return from the United States in 2018, is an integrated platform for institutionalized industrial innovation focused on the early stages of the life sciences sector. It is dedicated to providing early-stage investment and operational incubation for original and pioneering biomedical projects worldwide, further developing a fully managed, institutionalized, empowerment-oriented incubation model that breaks through the limitations of traditional technology transfer, venture capital investment, and boutique investment banking.