APRINOIA Therapeutics Secures $40 Million Series C Financing to Advance Development and Commercialization of Neurodegenerative Disease Diagnostics and Therapeutics

VCBeat has learned that APRINOIA Therapeutics Inc. (hereinafter referred to as “APRINOIA,” the parent company of Suzhou APRINOIA Therapeutics) announced on the 28th that it had completed a Series C financing round totaling USD 40 million this year. The funds raised by APRINOIA will be primarily used to advance the Phase III clinical trials and commercialization in China of its tau protein positron emission tomography (PET) tracer for Alzheimer’s disease, as well as to continue the development of therapeutics for neurodegenerative diseases. In addition, the company will continue to expand its drug discovery and development platform and pipeline, and collaborate with domestic and international partners to build a leading, internationally competitive brain PET clinical imaging alliance.

In addition to continued support from existing shareholders, including KTB Network, IMM Private Equity, and TaiAn Biotechnology, this financing round has welcomed the participation of prominent domestic pharmaceutical companies and investment institutions such as Yantai Dongcheng Pharmaceutical Group and Suzhou Yuanfeng Capital Management Co., Ltd. (affiliated with Suzhou Industrial Park), further deepening APRINOIA’s strategic presence in China. Dongcheng Pharmaceutical, the lead investor in this Series C round, operates across biochemical active pharmaceutical ingredients (APIs), chemical drugs, traditional Chinese medicine (TCM) proprietary formulas, and radiopharmaceuticals. With a comprehensive industry chain spanning diagnostic to therapeutic radiopharmaceuticals and advantages in logistics and distribution, Dongcheng is well-positioned to meet the growing demand for disease diagnosis and treatment driven by the rapid expansion of PET-CT and other imaging equipment nationwide.

The 2020 National Survey on the Current Status of Nuclear Medicine in China indicated that, although the number of positron emission tomography (PET) imaging devices nationwide increased by 39% compared with 2017¹, but in terms of the number of PET/CT scanners per million population, China stands at 2.14, still significantly lower than the United States’ 4.39 and South Korea’s 4.18²Therefore, although the number of nuclear medicine devices in China has grown significantly, there is still considerable room for improvement compared to other countries. Meanwhile, China faces a shortage of novel nuclear medicine drugs. This underscores APRINOIA Therapeutics Inc.’s original intention, in collaboration with its partners, to accelerate the popularization of nuclear medicine in China and thereby fulfill its mission of practicing precise diagnosis and active treatment for neurodegenerative diseases.

Luo Zhigang, General Manager of Dongcheng Pharmaceuticalstated: “Dongcheng Pharmaceutical’s strategic layout in the field of nuclear medicine complements APRINOIA’s investigational diagnostic agents for neurodegenerative diseases. Dongcheng’s lead investment in APRINOIA will facilitate resource sharing between the two parties and accelerate APRINOIA’s development of diagnostic and therapeutic drugs for neurodegenerative diseases, aligning with the global pharmaceutical industry’s momentum in targeting Alzheimer’s disease diagnostics and therapeutics. Dongcheng looks forward to collaborating with APRINOIA to further build a domestic nuclear medicine imaging diagnosis platform, setting a benchmark for establishing leading, internationally standardized diagnostic and treatment protocols.”

Sheng Gang, General Manager of Suzhou Yuanfeng CapitalIt stated: “Alzheimer's disease is a severe age-related neurodegenerative disorder that significantly impairs the quality of life for patients and their families. There are nearly 10 million patients in China alone, and currently, there is no effective treatment available worldwide. Therefore, early diagnosis and intervention are effective measures to delay disease onset. However, current clinical practices primarily rely on questionnaire-based assessments, which are highly susceptible to subjective bias. APRINOIA's tau protein-targeting¹⁸“The F-APN-1607 tracer can effectively differentiate between disease stages in patients and enable early diagnosis, thereby further addressing the critical pain points currently faced in clinical practice. As the Suzhou Industrial Park Industry Investment Fund, we are honored to join forces with both new and existing shareholders to support the company’s development in Suzhou Industrial Park and provide more reliable diagnostic and therapeutic options for Alzheimer’s disease patients worldwide.”

Neurodegenerative diseases, such as Alzheimer’s disease and Parkinson’s disease, have become one of the most critical public health issues worldwide. They impose a heavy social burden on patients, their families, and even national healthcare systems. A study indicated that in 2019, the number of people in China living with Alzheimer’s disease and other dementias was 13,143,950, accounting for 25.5% of the global total.³. In addition, regarding Parkinson's disease, there are approximately 3.1 million patients in China. With the aging population becoming an increasingly serious issue, the number of Parkinson's disease patients in China is projected to surge to around 5 million by 2030.⁴From the perspective of social costs, research indicates that in 2015, the annual cost per Alzheimer’s disease patient was nearly RMB 130,000, resulting in a total annual social cost of RMB 1.085 trillion. This cost is projected to rise to approximately RMB 3.3 trillion by 2030 and approach RMB 12 trillion by 2050.5 It is imperative to raise public awareness of early diagnosis to facilitate better disease control and management, thereby slowing the rate of disease progression and alleviating burdens on all fronts.

In the field of neurodegenerative diseases, APRINOIA’s R&D team has established a unique platform for screening compounds and antibodies. Leveraging this platform, the company designs diagnostic or therapeutic agents, including small-molecule compounds, protein degraders, and antibodies that specifically target pathological proteins. Notably, APRINOIA’s antibody-based therapeutic candidate, APN-mAb005, has made concrete progress in preclinical studies. APN-mAb005 can precisely recognize pathological tau proteins accumulated at neuronal synapses without interacting with normal tau proteins, thereby blocking the transmission of pathological tau between nerve cells. APRINOIA plans to advance clinical trials of this therapeutic agent in China and overseas next year.Zhang Mingkui, Chairman and CEO of APRINOIA Group“It marks the beginning of a new phase for APRINOIA following the completion of this Series C financing round, which is expected to accelerate the realization of APRINOIA’s vision in precision medicine for neurodegenerative diseases. We extend our gratitude to both existing and new shareholders for supporting us in establishing a strong foothold in Asia and expanding globally, thereby benefiting the vast number of patients and their families suffering from neurodegenerative diseases.”

Yantai Dongcheng Pharmaceutical Group Co., Ltd. was established in 1998 and listed on the Shenzhen Stock Exchange in May 2012 (Stock Code: 002675). After more than 20 years of development, Dongcheng Pharmaceutical has grown into a large-scale pharmaceutical enterprise group integrating drug R&D, production, and sales, with business spanning four major sectors: biochemical active pharmaceutical ingredients (APIs), chemical drugs, traditional Chinese medicine (TCM) proprietary medicines, and radiopharmaceuticals. The company continues to strengthen its formulation business, with products covering therapeutic areas such as cardiovascular diseases, oncology, urology, and orthopedics. In recent years, Dongcheng Pharmaceutical has entered the radiopharmaceutical industry, which is characterized by high technical barriers and strong growth potential. Through the successive acquisition of multiple domestic radiopharmaceutical companies, the company has achieved full industrial chain coverage from diagnostic to therapeutic radiopharmaceuticals, solidifying its leading position in China’s radiopharmaceutical sector.

Suzhou Yuanfeng Capital Management Co., Ltd. (hereinafter referred to as “Yuanfeng Capital”) was established in March 2020. It is a fund management company approved by the Working Committee and Administrative Committee of Suzhou Industrial Park, with a registered capital of RMB 50 million. The team members are all from well-known domestic institutions, possessing strong industrial backgrounds and extensive investment experience. Currently, the total assets under management (AUM) of Yuanfeng Capital amount to RMB 12 billion, including RMB 10 billion in government industrial guidance funds and RMB 2 billion in angel fund-of-funds. Its industrial investment funds are strategically allocated around the strategic emerging industries that the park has prioritized for planning and development in recent years, such as biopharmaceuticals, nanotechnology applications, artificial intelligence, and advanced manufacturing. By focusing on introducing major domestic industrial projects or overseas technology-leading projects, supporting leading enterprises within the park to become industry leaders through mergers and acquisitions, and collaborating to establish funds with industrial leadership positions, Yuanfeng Capital aims to help Suzhou build “landmark industries” and achieve new heights in industrial development.

APRINOIA Therapeutics, founded in 2015, specializes in the field of neurodegenerative diseases. Leveraging its leading drug screening platforms and technologies, the company develops large-molecule and small-molecule therapeutics, as well as related imaging diagnostic tracers, targeting abnormal protein accumulation in the brain. APRINOIA brings together global medical and scientific research talent, with operational subsidiaries and offices established in Hong Kong, Suzhou, Shanghai, Tokyo, and Boston, working collectively to advance precise diagnosis and treatment of brain disorders.

[1] Data source: Brief Report on the 2020 National Census of Nuclear Medicine Status, Chinese Journal of Nuclear Medicine and Molecular Imaging, 2020, 40(12):747-749. DOI:10.3760/cma.j.cn321828-20201109-00403

[2] Data source: Analysis of the Current Status and Development Trends of Nuclear Medicine in China, International Journal of Radiation Medicine and Nuclear Medicine, Vol. 44, No. 2, February 2020

[3] Ruijin Hospital, Shanghai Jiao Tong University School of Medicine, et al., “China Alzheimer’s Disease Report 2021,” Theory and Practice of Diagnostics, Vol. 20, No. 4, 2021.

[4] Data cited from the Global Times report on April 19, 2021: “Launch of Survey on the Current Status of Quality of Life among Parkinson’s Disease Patients in China” https://3w.huanqiu.com/a/c36dc8/42mnnc7vDbj?p=1&agt=46

[5] According to the study published by Jia Jianping’s team at Xuanwu Hospital: The cost of Alzheimer’s disease in China and re-estimation of costs worldwide, J. Jia et al./Alzheimer’s & Dementia 14 (2018) 483-491