Kaiyue Life Sciences Completes Tens of Millions RMB Angel Funding Round with Riemann Hypothesis as Exclusive Financial Advisor

Shenzhen Kaiyue Life Technology Co., Ltd. (hereinafter referred to as “Kaiyue Life”) recently announced the completion of its angel financing round, raising tens of millions of RMB. The round was co-led by ASB Ventures and Yongzhi Capital. Shenzhen Riemann Hypothesis served as the exclusive financial advisor for this round.

This round of funding will be used for GLP studies and IND filings for the current pipeline, R&D of the subsequent pipeline, team expansion and development, and other related areas.

Shenzhen Kaiyue Life Technology Co., Ltd., established in 2016, is the world’s first R&D platform dedicated to small-molecule inhibitors targeting RNA helicases. One of its key pipelines is designed for the treatment of human RAS-mutant solid tumors. Given the historical difficulty in developing drugs against the Ras target, Kaiyue Life has adopted a novel molecular mechanism of action for RAS-mutant cancers, shifting its R&D focus to a new target protein. This approach inhibits cancer cell proliferation and migration while inducing apoptosis, resulting in a broad-spectrum anticancer agent.

According to the 2020 Global Cancer Report released by the International Agency for Research on Cancer (IARC) of the World Health Organization, there were 19.29 million new cancer cases and 9.96 million cancer deaths worldwide in 2020. In China, there were 4.569 million new cancer cases and 3.003 million cancer deaths. Among cancer patients, RAS-associated tumors account for 15% of all tumors. RAS gene mutations have been identified in high-incidence cancers such as small cell lung cancer, colorectal cancer, pancreatic cancer, liver cancer, and acute leukemia.

In the past, R&D efforts targeting Ras oncogenes focused primarily on Ras itself—specifically, preventing its activation. However, attempts to develop drugs against mutant RAS proteins have consistently failed due to the high relative cellular abundance of GTP and the extremely high affinity of Ras for GTP binding. Additionally, there is a notable lack of suitable surfaces in key regions of the Ras protein necessary for small-molecule binding. These factors have made tumors harboring these mutations among the most difficult to treat, earning Ras the reputation as the most potent “undruggable” oncogene. The absence of effective therapeutic agents has turned the development of drugs for RAS-mutant tumors into a promising blue-ocean market. In contrast, Shenzhen Kaiyue Life Technology Co., Ltd. has adopted an indirect therapeutic strategy targeting RAS by focusing on its downstream signaling pathways.

Kaiyue Life’s technological breakthrough stems from the development of a novel mechanism of action that inhibits the efficient expression of downstream genes by the target protein, thereby suppressing cancer cell proliferation and migration while inducing apoptosis. Given that Ras itself lacks druggable targets, Kaiyue has shifted its R&D focus to a downstream effector of Ras—a target protein involved in promoting cell cycle progression and cell growth. Like many members of the RNA helicase family, this target protein is multifunctional: it actively participates in mRNA translation, plays a role in gene transcription by binding to gene promoters, and is also involved in regulating a subset of genes associated with cell cycle progression and cell migration. Notably, this target protein is highly expressed in cancer patients but is virtually undetectable in healthy individuals. The PCC small molecule developed by Kaiyue Life has passed safety studies in mice, preliminarily demonstrating significant inhibitory effects on advanced tumors with Ras mutations, without evident toxic side effects.

Dr. Zhang Yandong, Chairman and Chief Scientist of Kaiyue Life, stated, “We sincerely thank all investors and existing shareholders for their support and trust in Kaiyue Life. The success of this financing round reflects the industry’s full recognition of Kaiyue Life and marks a significant new milestone in the company’s development. Moving forward, we will further strengthen our R&D team, accelerate preclinical studies and patent applications, enrich our product pipeline, and accumulate core data. These efforts will support Kaiyue Life’s ambition to become the world’s first pharmaceutical company focused on RNA helicase targets, laying a more solid foundation for the company’s future growth.”

Xue Pengcheng, Head of Kaiyue Life at ASB Ventures, stated, “Ras has long been considered an undruggable target. Professor Zhang Yandong, founder of Kaiyue Life, and his team have dedicated over a decade to the study of RNA helicases, becoming the first in the world to elucidate the function of RNA helicase target proteins and conduct in-depth research on their mechanisms. Leveraging RNA helicase target proteins as a novel therapeutic target, Kaiyue Life has developed an innovative drug that inhibits Ras-mutant tumors. Currently, the preclinical development of the entire project is essentially complete. The team boasts a solid scientific foundation, a spirit of bold innovation, and a rich pipeline. We are honored to join other outstanding investment institutions in supporting the Kaiyue Life team, and we look forward to seeing them translate their years of scientific achievements into tangible benefits for patients.”

Zhuang Yongjian, Chairman of Shenzhen Yongzhi Capital, stated: “We are deeply grateful for Kaiyue Life’s trust in Yongzhi Capital, which has given us the opportunity to lead this round of financing. Currently, a significant unmet clinical need persists due to substantial gaps in treatment options for many malignant tumors, and the exploration of novel targets and mechanisms is garnering increasing attention. The founding team of Kaiyue Life has been diligently dedicated to the discovery of new targets involving RNA helicases for many years. The company has established a comprehensive technology platform and a novel development pathway centered around newly discovered targets and mechanisms of action that are first-in-class globally. The company’s product candidates boast significant advantages, including low molecular weight, high potency, favorable metabolic stability, excellent bioavailability and plasma stability, as well as a broad range of indications. We are committed to collaborating with the outstanding core team led by Dr. Zhang Yandong to accelerate the commercial translation of core technologies and innovative products, thereby helping Kaiyue Life become a global leader in the field of RNA helicases.”

As the exclusive financial advisor for this round of financing, Dr. Li Chaoxing, Chairman of Riemann Hypothesis, stated: “Innovative drugs targeting RNA helicases are currently a niche field. The emergence of Kaiyue Life is expected to spark widespread attention from both the industry and investment communities globally in the near future, further expanding the landscape of cancer therapeutics. As a pioneer and leader in this sector, Kaiyue Life has leveraged its years of scientific research and clinical experience in discovering new RNA helicase targets to develop first-in-class cancer therapies with novel targets and mechanisms against Ras mutations. We are deeply impressed by the company’s strong technical and process R&D capabilities, as well as its unwavering dedication to scientific research. We sincerely wish that Kaiyue Life’s novel-target drug will successfully reach the market, providing tumor patients with more and more effective treatment options.”

ASB Ventures is a comprehensive venture capital firm jointly established by renowned professional institutions active in the venture capital sectors of the Asia-Pacific region and mainland China, along with a group of seasoned venture capitalists. These prominent institutions include ASB Ventures (China) Holdings Ltd. and China Venture Capital Co., Ltd. The management team at ASB Ventures combines senior investment professionals with exceptional decision-making and post-investment intervention capabilities, alongside young, emerging investors with outstanding deal-sourcing abilities. The firm focuses on venture capital investments in mainland China within the fields of biomedicine and health, TMT (Technology, Media, and Telecom), and hard technology. Additionally, it provides high-quality management consulting and M&A services to its portfolio companies.

Shenzhen Yongzhi Asset Management Co., Ltd. was established in 2011. As an asset management firm specializing in venture capital, the company primarily engages in investments in emerging technologies, emerging industries, new business models, and new consumption patterns, as well as corporate restructuring and mergers and acquisitions. After nearly a decade of development and accumulation, the company has amassed extensive experience in equity investment, fund management, capital operations, and management consulting, and has established deep strategic partnerships with a number of domestically listed companies and industry leaders. Currently, the company or its managed funds are the second-largest shareholder of Chipscreen Biosciences (Stock Code: 688321), a company listed on the STAR Market, and the fourth-largest shareholder of Furi Electronics (Stock Code: 600203), a company listed on the A-share market.

Shenzhen Riemann Hypothesis, founded in 2018 by Dr. Li Chaoxing upon his return from the United States, is an integrated platform dedicated to institutionalized industrial innovation in the early-stage life sciences sector. The company is committed to providing seed investment and industrial incubation for original and pioneering early-stage biomedical projects in China. Distinct from traditional boutique investment banks, Riemann Hypothesis strives to create a “one-stop,” “institutionalized” empowerment-focused incubation model, thereby breaking through the limitations of conventional investment and boutique banking practices.