Shanghai Bowei Biotech Secures Hundreds of Millions in Series A Funding to Advance Inhaled COVID-19 Vaccine and Broad-Spectrum Coronavirus Vaccine Pipeline

VCBeat (WeChat: vcbeat) has learned that Shanghai Bowo Biotechnology Co., Ltd. (“Bowo Biotech”) recently secured hundreds of millions of yuan in Series A financing. Participants in this round included GF Venture Capital, Shifeng Xinhui, Yatai Pharmaceutical, Beizeng Assets, and Chengda Biology.

Hejun Capital served as the exclusive financial advisor to Shanghai Bowo in this transaction, while AllBright Law Offices acted as its legal counsel.

This round of financing will be primarily used to conduct clinical trials for the inhaled COVID-19 vaccine and PCV-13, as well as preclinical research on other pipeline candidates, including broad-spectrum vaccines against lineage B of beta-coronaviruses and broad-spectrum HPV vaccines. Shanghai Biowatt has completed the acquisition of controlling interest in Wuhan Biowatt.

Bowu Bio is primarily positioned in the research, development, and industrialization of innovative human vaccines. The company’s core team members hail from renowned biopharmaceutical enterprises and institutions both domestically and internationally, with an average industry experience of over 20 years. They possess extensive expertise in the R&D and commercialization of dozens of vaccines and command a diverse array of vaccine technology platforms—including bacterial polysaccharide, protein conjugation, cell/virus culture, genetic recombination, and viral vector technologies—representing a level of technical diversity rarely seen in China. Bowu Bio aims to address critical public immunization needs by focusing its pipeline on high-end vaccine products that are currently undersupplied in the market., with key pipeline candidates including: an inhaled COVID-19 vaccine, a broad-spectrum vaccine against Betacoronavirus lineage B, a broad-spectrum HPV vaccine, a pneumococcal conjugate vaccine, a VZV vaccine, a respiratory syncytial virus (RSV) vaccine, and a rotavirus vaccine.

The company's inhaled COVID-19 vaccine received clinical trial approval from the Brazilian Ministry of Health in November.Clinical trials for PCV-13 are also advancing rapidly, while multiple preclinical projects have already met the requirements for Investigational New Drug (IND) applications. Biovo Biologics’ pipeline takes an average of 1.5 years from project initiation to clinical trial application. Its products feature meticulous design and the application of breakthrough technologies, delivering disruptive efficacy and strong competitive advantages.

In early December 2021, the WHO rarely held a dedicated promotional meeting for Bowo Biotech’s COVID-19 vaccine, inviting representatives from nearly 30 countries. Bowo Biotech’s inhaled COVID-19 vaccine received high recognition from the WHO and national delegates due to its unique antigen design, rational route of administration, and outstanding animal experimental data. The inhaled vaccine, administered via the respiratory tract, activates potent mucosal immunity in the airways, generating secretory IgA (sIgA) as the first line of defense against viral invasion. This mechanism can block transmission routes of SARS-CoV-2 while simultaneously inducing high titers of IgG in the body, potentially reducing viral load by up to 5 log units.

Building on this foundation, Bowo Bio has taken it upon itself to help control the COVID-19 pandemic and recently signed an agreement with Nasdaq-listed Fulgent Genetics and Fudan University to jointly develop a broad-spectrum vaccine targeting lineage B betacoronaviruses (Sarbecoviruses). The vaccine is intended for the prevention of infectious diseases caused by SARS-CoV-2 and its variants, severe acute respiratory syndrome coronavirus (SARS-CoV) and its variants, and SARS-related coronaviruses (SARSr-CoV).

Dr. Wu Ke, CEO of Bovo BiotechIndicates:“We extend our gratitude to all investors for their recognition and support of Bovo Bio, and we also thank the Hejun Capital team for their contributions and the significant value created in this round of financing.”For a long time, humanity has faced the challenge of numerous infectious diseases, with vaccines serving as the most effective countermeasure. Nevertheless, significant immunity gaps remain to be addressed, and natural evolution will continue to present new challenges in the future. Bowo Bio boasts a seasoned team with expertise in both R&D and industrialization, leveraging multiple vaccine development platforms to rapidly design and develop safe, highly efficacious, and affordable vaccines against diverse pathogens.We will actively advance the clinical trials of our company’s inhaled COVID-19 vaccine and PCV-13, striving for early market approval and application. Meanwhile, several other blockbuster products are on the verge of submitting clinical trial applications. Creating high-quality vaccines for the public remains our unwavering driving force.“With the efforts of numerous scientists and R&D personnel, Bowo Bio will surely provide reliable safeguards for public health.”

Dr. Qiu Jun, Head of Equity Investment at GF Venture Capitalstated: “Bowo Bio is the fifth company in GF Venture Capital’s vaccine industry chain portfolio. We remain firmly optimistic about the long-term growth prospects of China’s vaccine industry.”“Bovo Bio’s core team has been deeply engaged in the vaccine industry for many years, accumulating extensive experience in vaccine technology platforms, pipeline strategy, manufacturing systems, and commercialization. Currently, multiple promising vaccine candidates are progressing smoothly through clinical trials. We are delighted to establish a collaborative partnership with Bovo Bio.”

Liu Xiaofeng, Chairman of Yatai Pharmaceutical Groupstated: “Biological products are a key segment of Yatai Pharmaceutical Group. With over two decades of exploration in the vaccine industry, our subsidiary, Yatai Biologics, fully recognizes the critical importance of high-quality vaccines to public health. No defects are permissible in any single vaccine dose.”Bowu Bio is a mature and creative R&D and industrialization team.“We look forward to Yatai Pharma and Bovogen working together to make greater contributions to public health.”

Cheng Siyi, Partner at Beizeng Asset Managementstated, “Our pursuit in the vaccine sector is to empower leading vaccine enterprises to contribute vaccines with a higher cost-effectiveness ratio to the world. We are deeply impressed by the international vision of BioWovo’s core team, led by Dr. Wu Ke, in vaccine development.”We are optimistic about Bovo’s R&D platform and its innovative product pipeline with comparative advantages, and we look forward to Bovo making outstanding contributions to human disease prevention in the future.。”

Zhang Shumin, General Manager of Chengda Biologicsstated: “As the largest domestic supplier of rabies vaccines, Chengda Bio has adhered to its core values of ‘integrity, honesty, benevolence, and harmony’ for two decades, upheld the philosophy that ‘in the face of life, there is only responsibility,’ and remained committed to the research, development, production, and promotion of biologics that are leading in China and competitive at the international level.”“Dr. Wu Ke’s innovative vaccine team at Bowo Bio boasts robust technical platforms and unique product designs. We look forward to partnering with Chengda Biologics to inject new vitality into the technological innovation and development of domestically produced vaccines.”

Lou Yining, Partner at Hejun Capital“The vaccine industry serves the health of healthy individuals, requiring vaccine companies to demonstrate not only bold innovation but also a rigorous approach to research, development, and production.”“BoWo Biologics’ core team has been deeply engaged in the industry for nearly 30 years. While witnessing the development of traditional vaccines in China, they have actively injected new inspiration into the research and development of domestically produced vaccines. Dr. Wu Ke’s accumulation and creativity in the field of vaccine immunology make me highly anticipate that BoWo Biologics’ many blockbuster products will make outstanding contributions to public health.”

Bowo Biologics is positioned as a developer and industrializer of innovative human vaccines. The company has sequentially introduced exclusive rights to mature vaccine projects from overseas that feature clear intellectual property, significant market potential, and high technical barriers. Simultaneously, it is building its own independent intellectual property portfolio and rapidly establishing industrialization capabilities in accordance with the current Chinese Good Manufacturing Practice (GMP) standards, the World Health Organization’s cGMP quality standards, and ICH guidelines. By progressively launching its products onto the market, Bowo Biologics aims to meet domestic and global demand and contribute to societal well-being. Currently, Bowo Biologics’ core operations are concentrated at Wuhan Bowo, which employs over 100 staff and houses an office and R&D pilot-scale base spanning more than 6,300 square meters. Shanghai Bowo has relocated to the North Shanghai Biomedical Industrial Base; the new Bowo Park, integrating headquarters, R&D, and manufacturing facilities with a total floor area of 31,000 square meters, is scheduled to commence operations in 2022. The company has established strategic partnerships with international corporations such as Cytiva, IQVIA, Merck, PALL, Applikon, and Rockwell, and has built robust dialogue mechanisms with institutions including the NIH, WHO, UNICEF, BMGF, and PATH.

GF Venture Capital Co., Ltd. was established in 2004, with its headquarters in Guangzhou and branch offices in Beijing, Shanghai, and Jinan. The firm focuses on investing in emerging industries such as biopharmaceuticals, next-generation information technology, high-end equipment, and new energy and new materials. It has invested in nearly 100 companies, with total assets under management exceeding RMB 15 billion. Leveraging its substantial proprietary capital, GF Venture Capital has initiated, established, and managed multiple sub-funds of government industrial guidance funds in Shandong, Anhui, Guangdong, Jiangsu, and other regions. It serves as a vice-presidential member unit of the Guangdong Venture Capital Association. The company has been honored with the “Best IPO Case Award 2020” by China Securities Journal and ranked among the “Top 100 Venture Capital Firms in China 2021” by Zero2IPO Research.

Shanghai Shifeng Xinhui Venture Capital Management Co., Ltd. is a healthcare venture capital firm dedicated to investing in innovative drugs that address unmet clinical needs and globally leading technology platforms through private equity. Backed by industrial shareholders, the company leverages its core competencies—including insight into frontier trends, precise valuation and pricing, post-investment resource synergy, and capital market support—to empower portfolio companies, enhance their value, create returns for investors, and achieve win-win outcomes for all stakeholders.

Yatai Pharmaceutical Group, recognized as one of the “Top 100 Enterprises in China’s Pharmaceutical Manufacturing Industry,” was established in 1999. As a strategically developed emerging pillar industry of Yatai Group (SH 600881), it has built an integrated health industry chain that encompasses Changbai Mountain forest resources; R&D of Class I new drugs, innovative vaccines, and medical devices; production of vaccines, chemical pharmaceuticals, traditional Chinese medicines, and medical devices; three distribution terminals comprising hospitals, chain pharmacies, and primary healthcare institutions; and health management services. The group comprises 12 subsidiaries, including resource development enterprises, R&D institutions, manufacturing companies, distribution enterprises, and an international e-commerce trading platform, along with over 1,000 chain pharmacies. It operates one drug R&D center and five high-tech enterprises, holds more than 110 domestic and international patents, and currently has four national Class I new drugs in its portfolio. The group has been awarded the Second Prize for National Technological Invention and the Second Prize for National Scientific and Technological Progress. In recent years, through the implementation of the Yatai management model, adherence to R&D-driven innovation, and the integration and restructuring of advantageous resources, the group has achieved sustained and rapid development.

Shenzhen Qianhai Beizeng Asset Management Co., Ltd. specializes in investments within the broader healthcare sector. Its founder boasts over 30 years of experience in research and development as well as operational management in the biopharmaceutical industry. Since its establishment in 2016, the company has set up and managed seven funds. Adhering to the philosophy of “focusing on innovation, discovering value, and providing post-investment empowerment,” it combines industry-derived investment principles with market-oriented value assessments to identify and nurture China’s most outstanding and high-growth innovative enterprises. By leveraging its own resources and capabilities, the company delivers value-added services to portfolio companies, thereby accelerating their development and enhancing their value.

Chengda Biologics (688739), established in June 2002, was listed on the STAR Market of the Shanghai Stock Exchange on October 28, 2021. Adhering to the philosophy of “Facing Life, We Bear Only Responsibility,” the company is dedicated to the research and development, production, and promotion of biological products that are “internationally competitive and domestically leading.” Its core products include human rabies vaccines and inactivated Japanese encephalitis vaccines for human use. Chengda Biologics has consistently maintained a leading market share in the domestic human rabies vaccine sector while holding a strong position in the international market, with its products exported to more than 30 countries and regions.Focusing exclusively on the vaccine industry, the company upholds the core values of “Integrity, Benevolence, and Harmony.” Looking ahead, Chengda Biologics will continue to pursue an innovative and sustainable development strategy driven by innovation, guided by product excellence, supported by specialization, and committed to efficiency. Prioritizing public health, the company will strictly control product quality, further enhance its social responsibility management, focus on the field of human vaccines, build intelligent manufacturing workshops, improve production efficiency, and continuously develop innovative products. Through these efforts, Chengda Biologics strives to contribute to the development of China’s biological products industry and implement the national strategies of innovation and high-quality development.

Hejun Capital, established in 2009 with headquarters in Beijing, Shanghai, and Shenzhen, focuses on the healthcare, consumer, and technology sectors. It advocates and practices value-added investment, managing over RMB 10 billion in equity investment funds.

The healthcare investment banking team boasts exceptional professionals covering the entire healthcare industry chain. Founding team members hail from top-tier institutions and large pharmaceutical companies, including CITIC Securities, Huatai United Securities, Tianfeng Securities, AllBright Law Offices, BDO China Shu Lun Pan CPAs, and PE/VC firms. With an average of over 10 years of experience in investment banking and deep industry expertise, the team has facilitated cumulative investment and M&A transactions exceeding RMB 30 billion, covering more than 2,000 active investment institutions and industrial groups.

The team is dedicated to optimizing asset allocation for investment institutions and industrial groups, specializing in the structuring and negotiation of complex transactions such as acquisitions and equity transfers to identify and create core value. It provides comprehensive capital operation solutions for pharmaceutical and healthcare enterprises, covering equity financing, mergers and acquisitions, industrial implementation, strategy, and market value management, thereby fostering exceptional healthcare companies.