NeoImmune Secures RMB 30 Million Pre-A Strategic Financing with WinX Capital as Financial Advisor
VCBeat has learned at the earliest opportunity that,On November 25, 2021, Shenzhen FanYin Medical Co., Ltd. (hereinafter referred to as “FanYin Medical”), a clinical immunology diagnostics and treatment company, announced the completion of its RMB 30 million Pre-A series strategic financing round, with WinX Capital serving as the financial advisor. The investment round was initiated by Kindstar Globalgene (09960.HK), led by Ruijiang Kangsheng Fund managed by Ruijiang Investment, and participated by Spark Venture Capital and Changjiang Yuantong Fund as co-investors.Previously, the company received angel-round investment from Yuanhe Origin.
Earlier this year, PanGene Medicine obtained China’s first EU CE certification for a blood cancer MRD (Minimal Residual Disease) test. This round of funding will be primarily used to promote its blood cancer MRD products and to develop new clinical products.
MRD refers to the presence of minimal residual tumor cells remaining in the body after treatment for malignant tumors, serving as the root cause of tumor recurrence. Accurate MRD detection forms the foundation of personalized precision medicine for patients, enabling the prediction of clinical outcomes and risk stratification to guide treatment decisions, facilitate early prediction of tumor recurrence, and determine the optimal timing for bone marrow or stem cell transplantation.
In March 2021, NEO-MRD®, the first domestically developed minimal residual disease (MRD) testing product for hematologic malignancies by PanGene Medicine, obtained CE marking in the European Union. Built on a next-generation sequencing (NGS) platform, NEO-MRD® features high detection sensitivity, high accuracy, and automation. It can also monitor the emergence of new high-frequency clones and assess immune system reconstitution, thereby significantly advancing the global development of MRD testing for hematologic malignancies.
PanGen Medicine is a leading domestic platform company specializing in immunomics technology. Its founding team published China’s first paper on next-generation sequencing (NGS)-based minimal residual disease (MRD) detection in leukemia. The company has published more than 20 high-impact papers in immunomics, filed over 20 patents, and delivered multiple presentations at international and Chinese academic conferences on immunology as well as at meetings of the Adaptive Immune Receptor Repertoire (AIRR) Community.Professor Liu Xiao, Founder of FanYin MedicineIt stated that there is substantial unmet patient demand in clinical immunodiagnostics and therapy. PanGene Medicine has established a comprehensive platform spanning wet-lab and dry-lab workflows to functional validation, built upon high-throughput immunomics. The company is dedicated to developing clinical products for the screening, diagnosis, treatment, and prognosis of immune-related diseases, and has strategically positioned itself across multiple sectors, including scientific services, clinical testing, immunotherapy, and immune health.
Xu Guowei, CEO of FanYin MedicineThe company announced that its Pre-A financing round received strong support from KingMed Diagnostics. It expressed sincere gratitude to Ruijiang Kangsheng Fund, UK Spark Capital, and Changjiang Yuantong Fund for their recognition of and support for the company’s innovation capabilities and vision. Through this collaboration, the parties will jointly explore and develop advanced diagnostic technologies and immunotherapeutic drugs to serve a broad patient population and bring hope to lives.
Huang Shiang, Chairman of the Board of Directors of Kindstar GlobalIntroduction: The company will continue to actively build cutting-edge technology platforms through various forms, exploring the future technological development direction of the clinical special testing industry. Through its strategic investment in PanGene Medicine, the company will fully leverage the complementary advantages of both parties in product R&D, data accumulation, and sales channels. This will not only accelerate the commercialization of PanGene Medicine’s products but also further optimize Kindstar Global’s product pipeline layout. Furthermore, Huang Shi’ang specifically pointed out that immune repertoire testing has extensive clinical applications. Beyond tumor minimal residual disease (MRD) detection, it can be applied to autoimmune diseases, infectious diseases, transplantation and immune reconstitution, antibody development, as well as the evaluation of medications and vaccines. This represents a substantial market, and many outstanding companies are expected to emerge in this field in the future. In addition to investing in PanGene Medicine, Kindstar Global is also actively incubating internal immune repertoire projects targeting different application areas, pursuing new technological and business explorations.
Zhao Jinqiang, Chairman of Ruijiang InvestmentIt stated that the fund managed by Ruijiang Investment’s exclusive lead investment in Fanin Medicine demonstrates trust in Fanin Medicine’s outstanding team and recognition of its future development in immunomics. Special thanks are extended to KingMed Diagnostics, a leading enterprise in China’s specialized clinical testing industry, for its support of the Ruijiang-KingMed Fund and Fanin Medicine. We believe that through the joint efforts of the three parties, Fanin Medicine will become one of the leaders in China in the construction of immunology platforms and in the field of genetic testing and therapy. Discovering value, creating value, and partnering with exceptional entrepreneurs to unlock infinite possibilities have always been the core mission of Ruijiang Investment.
Dr. Lu Xiaosheng, Managing Partner of Spark CapitalIt is pointed out that high-precision diagnosis of tumor minimal residual disease (MRD) is crucial for evaluating treatment efficacy and guiding subsequent rehabilitation. Fanyin Medicine has strategically positioned itself in the niche market of high-precision MRD diagnosis for hematologic malignancies. By leveraging four core technologies, the company has established significant industry barriers. Benchmarking against Adaptive Biotechnologies, Fanyin Medicine aims to build a leading clinical immunodiagnostic platform enterprise in China, thereby benefiting a vast number of cancer patients and their families.
Ruijiang Investment was established in 2012, with its headquarters in Wuhan and branches and teams in Beijing, Shanghai, Chengdu, and Hong Kong. The company’s vision is to meet people’s needs for a better life through high-quality financial services and products. Its core business covers equity investment funds and industrial investment funds. Discovering value and creating value, while partnering with outstanding entrepreneurs, has always been our consistent philosophy.
The company’s founder is a graduate of the University of Chicago. Its management and investment teams are composed of seasoned investment professionals with a global perspective. The growth-stage equity investment fund focuses on the healthcare, hard technology, environmental protection, and education sectors. The firm currently manages eight equity investment funds, with past limited partners (LPs) including publicly listed companies, funds of funds, and family offices.
The core management team of Spark Venture Capital originates from UK Spark, a leading European venture capital firm specializing in investments in early-stage and growth-stage technology companies. It manages funds from institutional investors including the Magdalen College Fund at the University of Oxford, Prudential Insurance, European government investment funds, and GE Capital.
Shenzhen FanYin Medical Co., Ltd. is a preferred provider of data and technology in the field of precision immunology medicine. Leveraging immune repertoire NGS technology, the company offers product solutions covering the entire process of disease discovery, detection, monitoring, and treatment. Committed to preventing major diseases, enabling precise diagnostics during clinical management, and ensuring accurate medication during therapy, Shenzhen FanYin Medical aims to achieve comprehensive coverage of the precision treatment continuum and extend life expectancy.
Kindstar Global Gene Technology Co., Ltd. was established in 2007 and is China’s first and leading independent provider of specialized clinical testing services. Currently, Kindstar Global has established a dominant position in the independent hematology specialized clinical testing industry in China, offering one of the most comprehensive hematology testing portfolios globally. It provides extensive testing services to hospitals, contract research organizations (CROs), and pharmaceutical companies, delivering a wide range of test items and customized, high-quality specialized tests in a highly cost-effective manner. This supports physicians in optimizing diagnoses, thereby facilitating the selection of personalized treatment plans for patients.
WinX Capital is a leading investment bank in China’s healthcare sector. Five members of its founding team hold Ph.D.s in Global Finance from the PBC School of Finance at Tsinghua University, while its frontline team boasts an average of over 10 years of experience in management, investment, and M&A, with cumulative transaction values exceeding RMB 30 billion. Headquartered in Beijing and Shanghai, WinX Capital serves more than 3,000 active institutional investors and industrial groups. In 2020, it was ranked among the “Top 5 Most Promising New-Type Investment Banks in China” by 36Kr’s WISE Awards, and named one of the “Top 4 Best Financial Advisory Firms in Healthcare” by Qiming Technology & Xinsheng Chuangfu.