Therorna Inc. Secures Over RMB 100 Million in Pre-A Financing to Advance Circular RNA-Based Vaccines and Novel Therapeutics

VCBeat (WeChat ID: vcbeat) has learned that on November 29, 2021, THERORNA, Inc. (Yuanyin (Beijing) Biotechnology Co., Ltd.) announced the completion of its Pre-A financing round, raising over RMB 100 million. The round was led by Quanchuang Capital, with Cenova Capital participating as a co-investor. Founded in April 2021 by Professor Wei Wensheng from Peking University, THERORNA focuses on leveraging circular RNA technology to develop vaccines and novel therapeutics. The company has established a robust pipeline of preventive and therapeutic drug candidates, dedicated to addressing unmet clinical needs. The proceeds from this financing round will be primarily used for preclinical and clinical studies of its new drug pipeline.

As the first research team globally to apply circular RNA technology to vaccine development, Professor Wei Wensheng’s laboratory reported in early 2021 on the results of a circular RNA vaccine targeting SARS-CoV-2 and its variants. Professor Wei stated, “The translational application of circular RNA technology in COVID-19 vaccines opens up possibilities for its use across a broad range of disease areas in the future. We are also exploring the use of this technology for the expression of therapeutic proteins or peptides, with the aim of benefiting the treatment of rare diseases and cancer. Currently, both research and industrialization of circular RNA remain in their early stages. We look forward to delivering more breakthrough solutions for epidemic control, disease prevention, and health protection in the near future.”

Dr. Tang Xiaodong, CEO of Yuanyin Biotechnology, expressed his gratitude to the investment partners in this round, Quanchuang Capital and Cenova Capital. He expressed strong confidence in the prospects of circular RNA in new drug development: “Compared with linear mRNA, circular RNA technology demonstrates exciting advantages in production, thermal stability, and therapeutic efficacy, as well as promising druggability. We believe this technology will make significant contributions across a range of disease areas.”

Dr. Xu Xiaoxing of Cenova Capital stated, “As an emerging technology platform, circular RNA has the potential to expand its applications across multiple therapeutic areas, promising to deliver more effective and accessible medicines to patients. The founder and senior management team of Yuanyin Biotechnology possess extensive experience in both scientific innovation and industrial R&D. As the lead investor in the Pre-A financing round, Cenova Capital is supporting the company in accelerating team building and pipeline development, further exploring the vast potential of this breakthrough technology platform, and striving to address unmet clinical needs for a broader patient population as soon as possible.”

Dr. Wu Hai of Cenova Capital stated, “Circular RNA can regulate the expression of various proteins at the mRNA level. Its high stability, prolonged protein expression duration, and streamlined production process offer new solutions for clinically undruggable targets. We are optimistic about Yuanyin’s rapid translation capabilities and strong scalability, which are built upon its proprietary intellectual property technology platform.”

Quanchuang Capital is a venture capital fund focused on early-stage and growth-stage life sciences companies. Driven by innovation and guided by unique scientific and commercial insights, we identify, build, and invest in leading life sciences enterprises with high-growth potential worldwide. Our portfolio includes pioneering innovative therapies, cutting-edge technology platforms, and industry leaders that fill critical gaps in the ecosystem. Quanchuang Capital currently maintains offices in Shanghai, San Francisco, and Boston.

Cenova Capital, founded by Dr. Wu Jun in 2010, is one of the earliest professional investment funds in China dedicated to the healthcare and life sciences sectors, committed to promoting the transformation, upgrading, and innovation of China’s medical industry.

Since its inception, Cenova Capital has garnered recognition and acclaim from enterprises, industry leaders, multinational industrial giants, and peers in the investment community within the healthcare sector. Cenova Capital currently manages five healthcare-focused funds and has invested in more than 50 companies in the healthcare and life sciences fields. The fund’s limited partners include renowned domestic and international institutional investors, such as Asian sovereign wealth funds, government agencies, domestic and foreign insurance and financial institutions, and multinational corporations.