Jeselink Announces Completion of Series B Financing to Advance Clinical Development of ERK and Aurora A Kinase Inhibitors into Phase 1/2 Trials

On November 15, 2021, JSI Medicine Technology (Shanghai) Co., Ltd. (“JSI”) announced the completion of its Series B financing round. The round was co-led by Tigermed and Baidu Ventures, with participation from Qianhai Beizeng and Jiuyou Capital. Existing shareholders Juming Venture Capital and Yifeng Capital continued to increase their investments in this round. BFC served as the exclusive financial advisor for this financing round.

JSI is a clinical-stage innovative drug development company focused on the research and development of novel therapeutics targeting the RAS/MAPK signaling pathway. This round of financing will be primarily used to fully advance the Phase 1/2 clinical studies of its two core products:

(1) JSI-1187 is an orally administered, highly selective ERK1/2 kinase inhibitor independently developed by JSI. The Phase 1a clinical trial is scheduled to be completed in the near future, followed by Phase 1/2 clinical studies for indications including melanoma, lung cancer, colorectal cancer, and pancreatic cancer. As a key kinase in downstream cellular signal transduction of receptor tyrosine kinases, ERK represents a therapeutic target for tumors harboring mutations in genes such as KRAS, NRAS, and BRAF within the MAPK signaling pathway. Furthermore, targeted inhibition of ERK kinase has the potential to address drug resistance caused by ERK reactivation following other targeted therapies.

(2) VIC-1911 is a next-generation, highly selective Aurora A kinase inhibitor with first-in-class (FIC) potential. It has completed Phase I single-agent dose-escalation studies in the United States, and the recommended Phase 2 dose (RP2D) has been established. Vitrac Therapeutics, a subsidiary of JSI, will soon initiate a Phase I/II clinical study for KRAS-mutant lung cancer, as well as an investigator-initiated clinical trial for an undisclosed indication. Aurora A kinase is a serine/threonine kinase involved in mitosis and holds significant clinical application potential in inhibiting the development of resistance to targeted therapies and in synthetic lethality related to DNA damage repair.

Dr. Zhang Jintao, Founder and CEO of JSI, expressed his sincere gratitude for the trust placed in the company by investors in this funding round, as well as for the strong support provided by previous investment partners across all aspects of the company’s development.

JSI is a clinical-stage novel drug development company driven by clinical needs and the latest translational medicine research, dedicated to the R&D of original anti-cancer drugs. Dr. Zhang Jintao, the CEO of JSI, was formerly the co-founder and CEO of Medicilon. Dr. Li Qun, Executive Vice President, is a senior expert in medicinal chemistry and new drug design, and the principal inventor of 12 clinical candidates, including the ERK inhibitor JSI-1187. The company’s clinical team consists of industry veterans with experience as executives at major pharmaceutical companies and a track record of successfully developing multiple innovative drugs in the United States.

JSI focuses on the research and development of original anti-cancer drugs targeting the RAS/MAPK signaling pathway. Currently, three of its product candidates are in Phase 1/2 clinical trials, with multiple preclinical candidates under development. The company collaborates with leading international clinicians and research institutions to conduct translational medicine and clinical studies at the forefront of global science.

Tigermed (Stock Code: 300347) is a CRO company specializing in providing comprehensive professional services for clinical trials throughout the pharmaceutical product development process. Committed to helping clients reduce R&D risks, cut R&D costs, and accelerate product commercialization, Tigermed operates 33 subsidiaries with a global service network spanning 60 major cities across mainland China and multiple countries. With an international professional team of over 2,500 members, the company has successfully conducted more than 600 clinical trial projects for over 600 clients worldwide and participated in clinical trials for more than 80 domestic innovative drugs.

Baidu Ventures is an independent venture capital firm initiated by Baidu Group, with a total scale of $700 million across its three USD/RMB-denominated funds. Baidu Ventures primarily focuses on early-stage pioneer companies in emerging technologies, dedicating itself to key sectors such as commercial consumption, healthcare and livelihoods, and technology extension. Leveraging the strong support and resource sharing from Baidu Group, Baidu Ventures has strategically deployed its investments in the field of artificial intelligence. Its current investment portfolio spans new energy vehicles, life sciences, enterprise services, smart cities, semiconductors, smart manufacturing, and IoT-enabled living.

Shenzhen Qianhai Beizeng Asset Management Co., Ltd. focuses on investments in the broader healthcare sector. Since its establishment in 2016, the firm has established and managed seven funds. Adhering to the philosophy of “focusing on innovation, discovering value, and providing post-investment empowerment,” it combines industry-derived investment insights with market-oriented value judgments to identify and nurture China’s most outstanding and high-growth innovative enterprises. By leveraging its own resources and capabilities, the firm provides value-added services to portfolio companies, accelerating their development and enhancing their value.

Founded in 2015 by an elite team with extensive investment experience, Jiuyou Capital maintains a global perspective and focuses on life sciences and technological innovation as its core investment sectors. Leveraging rich platform resources, professional due diligence capabilities, and comprehensive post-investment services, Jiuyou Capital supports equity investments across multiple stages, from angel rounds to Pre-IPO. The firm has received numerous prestigious awards, including being named one of the “Top 20 Investment Institutions in China’s Healthcare Sector in 2021” by 36Kr and the “Best Biopharmaceutical Investment Institution of 2020” by Zhuoyue Bang.

Juming Ventures focuses on early-stage investments in innovative drugs, emerging biotechnologies, and medical devices (including diagnostics), partnering with entrepreneurs to support their growth and address significant unmet clinical needs. Since its establishment in October 2018, Juming Ventures has invested in more than 40 companies.

Yifeng Capital focuses on global venture capital and private equity investments in biomedicine, successfully facilitating the public listings of numerous companies. Recognized for its outstanding investment performance and exceptional investment research capabilities, it has received accolades such as “China’s Most Dynamic Drug Innovation Investment Institution” and “China’s Best Emerging VC Manager,” and has been consecutively named one of the “Top Ten Venture Capital Firms in Shenzhen” for multiple years. Yifeng Capital maintains a strong focus on original innovative drugs and high-end medical devices, deeply identifying high-potential enterprises, driving the industrialization of scientific and technological achievements through capital, and striving for the advancement of life sciences.