Xinji Pharmaceuticals Secures Nearly RMB 100 Million Series A Funding to Advance Innovative Microneedle Drug Delivery Platforms

Recently,Guangzhou Novaken Pharmaceutical Technology Co., Ltd. (hereinafter referred to as “Novaken”) announced the completion of its Series A financing round, raising nearly RMB 100 million. This round was exclusively invested by Danlu Capital.The proceeds from this round of financing will be used to develop the company’s proprietary pipeline of innovative drugs, expand CRO services for high-end complex formulations, and build production lines for soluble microneedle-based pharmaceuticals and medical aesthetics products.

Guangzhou Novaken Pharmaceutical Co., Ltd. is a high-tech enterprise with a global focus, dedicated to the research of advanced complex formulations and the development of modified new drugs, leveragingSoluble Microneedles, Gel Patches, Inhalation Administration...and other specialized formulation technology platforms, focusing on building a portfolio of drugs with high technical barriers. It has deeply cultivated the field of patented innovative formulation R&D and successfully collaborated in the development of multiple new drugs, achieving remarkable results.

CompanyFounderDr. Chuanbin WuDr. Wu is a renowned expert in the field of pharmaceutical formulations in China. He has served as a member of the National Pharmacopoeia Committee for three consecutive terms and was elected as a Fellow of the American Association of Pharmaceutical Scientists (AAPS), becoming the first Chinese scientist to receive this honor. Dr. Wu has published over 300 academic papers and was recently included in Stanford University’s list of the World’s Top 2% Scientists (2020). With extensive experience in industrialization, he has held senior R&D management positions at internationally renowned pharmaceutical companies, including Johnson & Johnson, Novartis, Watson, and Actavis, offering unique insights into project commercialization. More than ten innovative and generic drugs developed under his leadership have been launched in both the United States and China.

In recent years, Novaken has entered a phase of rapid development, establishing a pharmaceutical formulation R&D center spanning nearly 10,000 square meters. The company’s independently developed novel microneedle chip production system, which holds international patents and reaches globally advanced standards, employs Automatic Quick Micro-perfusion Printing Technology (AQMS). This technology enables the rapid, efficient, and stable fabrication of dissolvable microneedle chips from materials with varying specifications and parameters, making Novaken the first in China to achieve mass production of dissolvable microneedle chips. The stepwise molding process used in this technology effectively prevents drug diffusion into the base layer during production, ensuring effective drug delivery to the target site. Furthermore, novel formulation technologies have resolved technical challenges associated with dissolvable microneedles, such as difficulty in penetrating the stratum corneum and slow dissolution for drug release. By utilizing a positive-negative pressure micro-perfusion molding technique that differs fundamentally from conventional positive-pressure and centrifugal methods, the system achieves precise control over the fabrication process, enabling continuous, large-scale production of dissolvable microneedle patches.

Novaken currently has multiple microneedle drug projects under development, including peptides and biologic macromolecular proteins, vaccine drugs, and small molecules. The greatest advantage of this novel drug delivery method is that it improves patient compliance by reducing the pain associated with injectable administration.

Furthermore, microneedle formulations also possess unique advantages in terms of safety and efficacy:

(1) Safety: Local drug delivery via microneedles can reduce systemic exposure. Systemic administration of immunotherapeutic agents often leads to a series of toxic side effects due to off-target effects. By leveraging the characteristics of local microneedle delivery, systemic exposure is minimized, allowing the desired therapeutic effect to be achieved with relatively lower drug doses, while also reducing the risk of autoimmune dysfunction.

(2) Efficacy: Microneedle drug delivery can efficiently activate the subcutaneous immune system. A large number of antigen-presenting cells in the epidermis can activate the immune system upon contact with antigens, thereby exerting immune effects. By combining microneedles with immune checkpoint inhibitors to breach the stratum corneum barrier, a rapid immune response is achieved, yielding high-titer antibodies at lower doses.

Furthermore, microneedles facilitate the transport, storage, and delivery of active macromolecular drugs, such as albumin, PD-L1, GLP-1, mRNA, DNA, and inactivated vaccines. Novaken designs various microneedle structures, including bilayer microneedles, core-shell microneedles, and photothermal combination therapies, to control vaccine release kinetics or enhance immune responses; it has also demonstrated the potential of combination therapies with other treatment modalities.

“We are developing microneedle-based transdermal drug delivery systems not merely as a high-tech formulation technology, but to meet the needs of numerous patients. With the global progression of the COVID-19 pandemic, self-administration via microneedle patches for various vaccines, including mRNA vaccines, will become the preferred choice for an increasing number of individuals seeking protection,” said Dr. Wu Chuanbin. Regarding the company’s future product portfolio, Dr. Wu stated, “We will focus on the sectors of high-end complex formulations and improved new drugs, leveraging our strengths in transdermal drug delivery, particularly microneedle-based transdermal technologies. We will make full use of the financial support provided by our investors to develop products that align with market demands and address patients’ unmet needs.”

Dr. Li Jie, Managing Director of Danlu Capital“He stated, ‘Formulation innovation is also a critical pathway for pharmaceutical innovation. We highly recognize Novaken’s vision and expertise in drug formulation innovation, particularly in transdermal drug delivery. We look forward to the imminent market launch of its soluble microneedle products, which will significantly improve patient adherence to macromolecular drugs, enhance therapeutic efficacy, and provide a superior medication experience. We are delighted to collaborate with this outstanding team and support Novaken in achieving a new round of growth.’”

Danlu Capital focuses on early-stage investments in innovative medical technology companies. Its core management and investment team hail from renowned domestic venture capital fund management firms. Founding partners Lu Qinchao and Su Zhenbo each bring nearly two decades of experience in the healthcare industry and investment. Danlu Capital currently manages multiple RMB-denominated funds and one USD-denominated fund, with investors including prominent market-oriented funds of funds, asset management companies, government guidance funds, industrial capital, family offices, and well-known listed companies.