TruChain Bio Completes Angel+ Financing to Accelerate Pipeline Development and LNP Manufacturing Platform
VCBeat has learned at the earliest opportunity,Truskin Biopharmaceuticals (Suzhou) Co., Ltd. (“Truskin Biopharma”) announced today the completion of its Angel+ round of financing. This round was co-led by CCB Medical Growth Fund and existing shareholder YuanSheng Venture Capital (USD Fund II), with participation from Hongtai Fund and existing shareholder Huagai Capital.The funds raised will be primarily used to accelerate pipeline development and the construction of an LNP production platform.
In early 2021, Chuanxin Biosciences became the first company in the Asia-Pacific region to enter into a collaborative development and licensing agreement with Canada’s Acuitas Therapeutics regarding mRNA lipid nanoparticle (LNP) delivery technology. By leveraging clinically validated, mature LNP delivery technology, the company aims to accelerate the commercial development of mRNA vaccines. Currently, Chuanxin Biosciences has established a relatively comprehensive R&D team and built a robust pipeline in the fields of preventive vaccines and novel oncology therapies. Animal studies assessing the immunogenicity of its COVID-19 vaccine candidate have demonstrated results comparable to those of the commercially available BioNTech/Pfizer vaccine. Meanwhile, research and development efforts for a COVID-19 vaccine targeting the Omicron variant have also been initiated.
Dr. Chen Jianxin, Founder of Chuanxin Biologicsstated: “We extend our sincere gratitude to both new and existing investors for their recognition and support of Chuanxin Biologics. The Chuanxin team will continue to be value-driven, upholding pragmatic, steady, and efficient execution to accelerate the development of our mRNA pipeline therapeutics. All members of Chuanxin are confident in the company’s rapid growth and future development.”
Relevant Person in Charge of CCB Medical Growth FundIt stated: “The LNP delivery technology used in the Pfizer/BioNTech COVID-19 vaccine originates from Acuitas Therapeutics of Canada. SteRNA Biosciences has licensed this LNP delivery technology from Acuitas, employing the same delivery vector as approved COVID-19 mRNA vaccines. With billions of doses administered worldwide, the platform demonstrates a high level of maturity and strong certainty in product development.”
Chen Jie, Founding Partner of YuanSheng Venture CapitalIt stated: “With the recurrent COVID-19 outbreaks both domestically and internationally, vaccination remains the most effective measure for preventing the epidemic in the face of continuously mutating SARS-CoV-2 variants. As an emerging player, Chuanxin Bio is developing COVID-19 vaccines with broader spectrum efficacy, including against the new Omicron variant, thereby enriching the diversity of COVID-19 vaccine types available in China. Following the completion of its angel financing round, Chuanxin Bio has strengthened its R&D team, which will also help accelerate the development progress of its mRNA products.”
Li Tong, Managing Partner of Hongtai Fund's Healthcare Fund“The delivery vehicle represents a major core technological bottleneck in the development of nucleic acid therapeutics. Chuanxin has accumulated profound expertise in the field of drug delivery, and on this basis, has established a comprehensive technical platform system for nucleic acid drug development. Dr. Chen Jianxin, the founder, is a well-known serial entrepreneur with a track record of success in the industry. The entire Chuanxin team has demonstrated strong execution capabilities within less than a year since its establishment. We look forward to deepening our collaboration with Chuanxin in the future and will continue to support its growth.”
Chuanxin Bio was established in April 2021, dedicated to the commercial development of RNA therapeutics. By introducing globally leading LNP delivery technology, the company has established a comprehensive system for mRNA drug R&D and large-scale manufacturing, enabling the rapid development of novel mRNA vaccines for infectious diseases and cancer. The company has currently assembled a robust R&D team, with core members covering target biology, RNA structural biology, mRNA synthesis, and LNP manufacturing, ensuring the swift advancement of its pipeline products.
CCB Medical Growth Fund is a market-oriented venture capital fund. The fund was jointly initiated and established by CCB International, Kun Gaoxin Group, and other high-quality institutions, focusing on equity investments in growth-stage healthcare companies.
YuanSheng Venture Capital is an investment firm focused on the early and growth stages of the healthcare sector, headquartered in Suzhou BioBAY with a global reach. To date, it has invested in over 140 outstanding companies in the life and health sciences, spanning four key areas: novel drug development, medical devices, in vitro diagnostics and precision medicine, as well as healthcare services. The firm has achieved substantial investment returns, with 12 of its portfolio companies having listed on capital markets such as the Hong Kong Stock Exchange and the STAR Market. YuanSheng Venture Capital has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. By bringing together seasoned professional investors and a world-class team of scientific advisors, YuanSheng Venture Capital possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging its professionalism, focus, and abundant industry resources, the firm is committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.