Yizun Biopharma Secures Hundreds of Millions RMB in Series A Financing Led by VMS Group and Shenzhen Capital Group, with SJ Capital as Exclusive Financial Advisor

VCBeat (WeChat: vcbeat) has learned that Yizun Biomedical (Zhejiang) Co., Ltd. (hereinafter referred to as “Yizun Biomedical”) has announced the completion of its Series A financing, amounting to hundreds of millions of RMB. This round was led by Dingpei Group and SCGC, with participation from TEDAVC, Panacea Venture, Kinghand Capital, and Tasly Capital. Sanjiang Capital served as the exclusive financial advisor.

This round of financing will be used for team building, R&D of products in the CNK-UT pipeline, clinical trials and regulatory submissions, as well as the optimization and upgrading of core technology platforms and international cooperation.

Yizun Biomedical is an emerging cell therapy company featuring multiple internationally leading, proprietary platform technologies, with a focus on solid tumor treatment and universal allogeneic cell technologies.

The company was co-founded by Dr. Liu Lingfeng, a distinguished expert in the field of immunotherapy, and Mr. Guo Xiaobin, who brings extensive experience in investment and innovation incubation.

Since its establishment in 2018, the company has adhered to its mission of “Encoding Cells, Reshaping Life,” focusing on unmet clinical needs. Driven by innovation, it has continuously achieved technological advancements and clinical breakthroughs, deploying R&D and clinical validation across multiple technology platforms. In June 2019, Yizun Biomedical secured tens of millions of RMB in Pre-A round financing from Livzon Pharmaceutical Group, a listed pharmaceutical company, and signed a strategic cooperation agreement. The company has successfully established three core technology platforms: CNK-T, VAC-T, and UT. Preliminary results from exploratory clinical trials have demonstrated the significant efficacy of CNK-UT in treating advanced liver cancer. Currently, the company operates a production base and R&D center spanning nearly 3,000 square meters that comply with international GMP standards, and has been selected as a key incubation project under the “5050 Plan” of the Hangzhou Binjiang High-Tech Zone.

During his tenure at the Fred Hutchinson Cancer Research Center in the United States, Dr. Liu Lingfeng, founder of Yizun Biomedical, was directly involved in the development and clinical research of CAR-T cell therapy technologies. He secured multiple international patents, which were licensed to Juno Therapeutics, the first NASDAQ-listed cell therapy company in the U.S. The company’s scientific advisory team comprises experts from leading global research institutions, including the Fred Hutchinson Cancer Research Center, Harvard University, the University of Washington, City of Hope, and the BloodWorks Northwest.

Currently, Yizun Biomedical has already partnered with ShanghaiEastern Hepatobiliary Hospital, Wuxi People's Hospital Affiliated to Nanjing Medical University, Zhongshan Hospital Affiliated to Fudan University, Union Hospital Affiliated to Fujian Medical University, former Nanjing MilitaryEstablished extensive preclinical and clinical collaborations with hospitals such as the Fuzhou General Hospital.

Mr. Wu Zhaowei, Managing Director of Dingpei Groupstated, “We are optimistic about the immense potential of cell therapy. Although cell therapy has achieved encouraging clinical efficacy in hematologic malignancies, breakthroughs in solid tumors remain urgently needed. Off-the-shelf immune cell therapy represents the current frontier of innovation and is an essential pathway for cell therapy to achieve widespread clinical application. As an emerging pioneer in the field of cell therapy, we believe that under the strong leadership of Dr. Liu Lingfeng, Yizun Biomedical will undoubtedly make groundbreaking contributions to the treatment of solid tumors and allogeneic off-the-shelf cell therapies, thereby benefiting patients worldwide.””

Dr. Zhou Yi, General Manager of the Healthcare Investment Department at SCGCstated: “Addressing the current pain points in cell therapy, Yizun Biomedical focuses on the development and application of universal cell therapy technologies for solid tumors. The company’s innovative technologies have established core competitive barriers. We look forward to Yizun becoming a leader in the field of cell therapy, bringing safe and efficient novel therapeutic options to more patients.”

Mr. Ding Xusheng, Managing Director of TEDAVC“Yizun Biomedical has developed a distinctive technological platform and a robust pipeline in the field of immune cell therapy. The company’s universal T-cell products are poised to enable an ‘off-the-shelf’ cell therapy strategy, significantly reducing production costs and achieving breakthroughs in the commercialization of immune cell therapies. TEDAVC is honored to support Dr. Liu and his team. We look forward to the company’s vigorous growth and the early market launch of its products to save more lives.”

Mr. Huang Ruijin, Managing Partner of Panacea Venture“The founder possesses extensive experience in the research and development of cell therapies and technological translation. Yizun’s proprietary technology platform has achieved breakthrough progress in the field of solid tumors. With team expansion and a robust patent portfolio, we look forward to accelerating the advancement of our pipeline while establishing international collaborations.”

Mr. Zhang Dafeng, Founding Partner of Kinghand Capitalstated: “The success of personalized cell therapies in hematologic malignancies has raised high expectations for the treatment of solid tumors. While solid tumors represent a larger market opportunity, developing effective treatments—particularly universal off-the-shelf therapies for solid tumors—remains an enormous challenge. Dr. Liu Lingfeng has been deeply engaged in the field of cell therapy for many years, establishing a unique cell modification technical route and a universal technology platform. We are pleased with the efficacy demonstrated by this therapy to date and hope that Yizun Biomedical can rapidly develop clinically affordable and more effective solutions to benefit a broader patient population.”

Mr. Yang Jiyun, Partner at Tasly Capitalstated: “We are delighted to support global innovative cell therapy companies like Yizun Biomedical. Yizun Biomedical boasts a leading, proprietary non-gene-edited universal cell therapy technology platform. The company is deeply committed to the field of solid tumor treatment, with the potential to achieve multi-target recognition and precise killing of tumor cells by T cells. We believe that, through the relentless efforts and continuous innovation of its founding and scientific teams, Yizun Biomedical is poised to become a leader in the cell therapy industry. We aim to leverage Tasly’s industrial resources to facilitate the company’s continuous innovation and rapid commercialization, thereby providing better treatments for patients with solid tumors and benefiting a broad patient population.”

Mr. Jin Yilun, Managing Partner of Sanjiang CapitalSanjiang Capital stated: “We are honored to have supported and facilitated Yizun Biomedical in completing this milestone transaction. The company’s core team possesses profound industry experience and a global perspective, while its robust R&D capabilities and efficient execution have left a deep impression on us. Yizun Biomedical holds multiple proprietary platform technologies targeting solid tumors and is steadily strengthening its unique advantages in the field of immune cell therapy. We look forward to this round of financing helping the company achieve early breakthroughs in solid tumor treatment, thereby meeting substantial clinical and market demands and benefiting a broad population of cancer patients.”

Dingpei Group, established in 2006, is a leading diversified financial group that provides professional and diverse investment solutions and advisory services through its subsidiaries. Its business scope covers securities trading, corporate finance, structured financing, real estate investment, and private equity investment. In the realm of private equity, the group focuses on innovation and growth opportunities in key sectors such as healthcare, technology, media and telecommunications (including new retail and new services), and frontier technologies. The Dingpei Healthcare team is dedicated to identifying outstanding global innovative healthcare companies that address unmet clinical needs, with investment areas spanning therapeutics, diagnostics, and comprehensive health management services. To date, Dingpei Group has successfully completed over 150 investments both within and outside China.

Shenzhen Capital Group Co., Ltd. (SCGC) was established in 1999. With the mission of discovering and empowering great enterprises, the company is committed to being a discoverer and cultivator of innovative value, and has developed into a comprehensive investment group centered on venture capital. It currently has a registered capital of RMB 5.42 billion and manages funds with a total scale of approximately RMB 421.3 billion. As of the end of July 2021, SCGC ranked first in China’s venture capital industry in terms of both the number of portfolio companies and the number of listed portfolio companies. The Shenzhen Hongtu Healthcare Industry Fund, established in 2018, is the first healthcare industry fund launched by SCGC as part of its “specialization” strategy. It focuses on identifying high-quality targets with strong innovation capabilities and significant growth potential to promote industrial development. The fund has invested in numerous outstanding enterprises, including Akeso, YHLO, RemeGen, Laekna Therapeutics, GenFleet Therapeutics, Zymonix Pharmaceuticals, Qiyu Biologics, and WeLiZhiBo.

TEDAVC (Tianjin TEDA Technology Investment Co., Ltd.) was founded in 2000 in the Tianjin Economic-Technological Development Area (commonly known as TEDA). It completed mixed-ownership reform in 2013 and is among the first batch of venture capital firms in China. Its investment focus spans semiconductors, digital health, TMT (Technology, Media, and Telecommunications), new materials, and advanced manufacturing. The firm’s investment stages cover angel investing, venture capital (VC), private equity (PE), and mergers and acquisitions (M&A). Portfolio companies include: Lianshengde Microelectronics, Haiguang Xinchuang, Jingcheng Machine Tool, Atom Robotics, Nenghua Microelectronics, Booksi, Yipu Optoelectronics, MetaX Integrated Circuits, Zhidao Technology, iSmartWare, Reyun Data, Boxiaotong Technology, Youmu Technology, Jinlian Huitong, Meidi Cloud, Ruihe Cloud Map, Yunyi Medical, Jiuzhou Cloud, StarMap Data, Kangrun Biotechnology, Shixin Medical, Repu Database, Biwin Storage, Yongsi Electronics, and Shize Biology.

Panacea Venture focuses on investing in and incubating early-stage, R&D-driven innovative companies in the global life sciences sector, leveraging breakthrough technologies to address unmet medical needs and improve patients’ quality of life. Its investment team comprises the distinguished life sciences investment team from KPCB China and seasoned industry experts.

Kinghand Capital manages 12 RMB funds and 2 USD funds, with its portfolio covering 73 high-quality projects. From 2019 to 2021, a total of 11 portfolio companies were listed on major stock exchanges, including Jinxin Fertility (01951.HK), Viva Biotech (01873.HK), Sino Medical Sciences Technology (688108.SH), LabPalm (688393.SH), and Clover Biopharmaceuticals (02197.HK). To date, two companies have passed the listing committee review of the ChiNext board, one has passed the Hong Kong Stock Exchange’s listing hearing, and two others are in the IPO process. Kinghand Capital expects that more than 10 of its portfolio companies will be listed on major domestic and international stock exchanges within the next two years.

Tasly Capital adheres to an industry-focused investment philosophy and implements its 4D investment strategy. It focuses on building an ecosystem spanning pharmaceuticals, medical devices, diagnostics, and digital health, with particular emphasis on therapeutic areas including cardiovascular and cerebrovascular diseases, oncology, metabolic disorders, and digestive diseases. The firm is committed to supporting the development of start-up and growth-stage enterprises. Since its establishment in 2007, Tasly Capital has managed assets exceeding RMB 13.5 billion, overseeing eight RMB-denominated funds and three USD-denominated funds. It has invested in over 100 projects and achieved exits from more than 30. Its portfolio includes numerous well-known industry players such as Innovent Biologics, I-Mab Biopharma, Leading BioSciences, CARsgen Therapeutics, Yantai Biotech, Neovasc Medical, and Aim Vaccine. Tasly Capital will continue to leverage the synergy between industry and capital, enhance industrial innovation and upgrading, and serve as a entrepreneurial partner to entrepreneurs and scientists in the pharmaceutical and healthcare sectors.

Sanjiang Capital is China’s earliest new-type investment bank dedicated to the biotechnology and healthcare sectors, with business coverage spanning sub-sectors such as biotechnology, pharmaceuticals, medical devices, healthcare services, and digital health. Founded in early 2008 by several senior bankers from top-tier international investment banks, the firm is headquartered in Shanghai. Sanjiang Capital’s financial advisory services include equity financing advisory and mergers and acquisitions (M&A) advisory. Since its inception, the firm has served over one hundred clients, earning a strong reputation and positive market recognition. Unlike most investment banks that prioritize deal volume, Sanjiang Capital places paramount importance on achieving high completion rates for client mandates. It emphasizes long-term partnerships with clients, accompanying enterprises through their growth journey and safeguarding their robust development.