SinoCare Pharma Secures $120 Million in New Funding to Advance Global Phase III Trials of Supaglutide and Expand First-in-Class Pipeline

VCBeat has learned that Innogen recently completed a new round of financing worth $120 million.

This funding round was co-led by Ushans Capital and Huachuang Capital, with participation from CICC Qide Fund (under CICC Capital), V Star Capital, Longma Peak Venture Capital, Deyi Capital, China Everbright Limited, Xiaochi Capital, Guoke Jiahe, and Pudong Investment Holdings. Existing shareholders Lanting Investment and Cowin Capital continued to increase their stakes. Qingjie Capital and Rushi Consulting served as financial advisors for this round.

This round of financing will be used to advance the global Phase III clinical trials of Suparuglutide and multiple first-in-class pipeline products, as well as to construct cGMP manufacturing facilities.

Innogen, established in 2015, is a high-tech, innovation-driven international pharmaceutical R&D and manufacturing company dedicated to the research, development, and industrialization of biologics for diabetes and metabolic diseases. Its core management team features a comprehensive blend of leading Chinese and foreign experts in diabetes and endocrinology, seasoned specialists in new drug development, and multidisciplinary professionals in corporate operations.

The Company has established a technological platform for the development and manufacturing of biopharmaceuticals using recombinant protein technology via genetic engineering. It holds multiple global intellectual property rights for novel drugs and technologies in the treatment of diabetes and metabolic disorders, with its translational medicine capabilities in diabetes ranking at an internationally advanced level.

Professor Wang Qinghua, Chairman and CEO of Innogen, stated“Suparutide is China’s first human-derived long-acting GLP-1 receptor agonist with independent intellectual property rights, and its Phase III clinical trials are currently progressing smoothly. This financing will accelerate the clinical trials, facilitate the expansion of our team, and speed up the advancement of our innovative pipeline projects for diabetes and metabolic disorders. We look forward to welcoming more outstanding talents in R&D, production, and market operations to Innogen. Our goal is to provide diabetic patients with novel, innovative drugs for diabetes and metabolic disorders that are safer, more clinically effective, and cost-effective.”

Mr. Lin Xiao, Partner at Youshan Capital, stated“We are delighted to lead this round of financing for Innogen. Youshan Capital focuses on investing in outstanding companies in niche sectors such as healthcare and technology. In the healthcare sector, we place particular emphasis on technologies and products that address unmet clinical needs. With deep expertise in diabetes and metabolic diseases, Innogen is committed to independent innovation and has built a R&D pipeline with both First-in-Class and Best-in-Class potential, establishing itself as a leading platform company in China’s diabetes and metabolic disease landscape. We look forward to helping Innogen accelerate the clinical development and global expansion of its core products, thereby benefiting patients in China and around the world at an earlier stage.”

Xiong Weiming, Partner at Huachuang Capital, stated“We are thrilled to co-lead this financing round for Innogen. We hold a strong bullish outlook on suparutide, which represents a new generation of GLP-1 therapeutics for diabetes. We have already observed its superiority over existing products in the market, and we are confident it will become the best-in-class drug in this therapeutic area. We extend our warmest congratulations to Professor Wang and his team for successfully closing this oversubscribed financing round amidst today’s challenging capital market environment. We also look forward to the smooth progress of suparutide’s Phase III clinical trials, the timely achievement of clinical endpoints, and the ultimate benefit it will bring to diabetic patients in China.”

According to data released by the World Health Organization, there are approximately 415 million people with diabetes worldwide, while China has over 130 million patients, ranking first globally in terms of patient population and making it the country with the highest number of diabetes cases.

In recent years, the prevalence of diabetes in China has risen from an average of 0.67% to 12.8%. Due to changes in lifestyle and the accelerating aging process, the prevalence of diabetes in China is projected to remain at 11%–12% over the next decade.

Professor Wang Qinghua once stated: “Treatment regimens for diabetes include insulin injections and oral hypoglycemic agents, but these are palliative therapies that address symptoms rather than the root cause. In fact, the fundamental pathogenesis of diabetes lies in insufficient insulin secretion by pancreatic beta cells. Suparutide injection not only promotes insulin secretion but also stimulates beta-cell regeneration and enhances beta-cell mass, representing a therapeutic strategy that addresses both the manifestations and the underlying cause of diabetes. Furthermore, compared with mature markets in developed countries, domestic payment capacity is limited. The Chinese market for glucose-lowering therapies requires novel agents with superior clinical efficacy, differentiation, and high cost-effectiveness—high-quality medications that are affordable for the general public.”

As a hypoglycemic agent approved by China’s National Medical Products Administration (NMPA) and currently in clinical development with a once-every-one-to-two-weeks dosing regimen, Suparutide Injection demonstrates superior human homology and clinical applicability compared to similar imported formulations. It features a wide safety margin, favorable efficacy, and cost advantages derived from localized production.

It is understood that the "Guidelines for the Treatment of Type 2 Diabetes" issued by the American and European diabetes associations have listed GLP-1 receptor agonists as first-line injectable therapies, and the Chinese Diabetes Society has also reached an expert consensus. As a next-generation human-derived, long-acting GLP-1 receptor agonist, Suparaglutide injection possesses significant market potential. The company will deploy global sales strategies, positioning it to become China’s first domestically produced human-derived long-acting GLP-1 drug, thereby entering the blue ocean of next-generation diabetes medications with a sales scale reaching tens of billions.