XW Biotechnology Secures RMB 450 Million Series C Financing to Advance Global Clinical Development of Metabolic Disease Therapies

On October 12, 2021, Hangzhou Sciwind Biosciences Co., Ltd. (“Sciwind”), a clinical-stage biotechnology company dedicated to the research and development of innovative therapies for chronic metabolic diseases, announced today the completion of its RMB 450 million Series C financing round. The round was jointly invested by Lyfe Capital, IDG Capital, and existing investor LYFE Capital, with DianShi Capital serving as the exclusive financial advisor. The proceeds will be primarily used to support international clinical studies of existing projects and the subsequent research and development of its product pipeline.

“We are delighted to have secured support from numerous renowned professional investment institutions, which will significantly bolster our ongoing and upcoming clinical trials for new drugs in China, the United States, Australia, South America, and other regions, thereby accelerating our global expansion,” said Dr. Pan Hai, Founder and Chairman of Sciwind. “In 2021, we welcomed Dr. Wu Xinle as Chief Scientific Officer, Dr. Zhong Weidong as Chief Strategy Officer and President of our U.S. subsidiary, and Dr. Martijn Fenaux as Senior Vice President of Translational Medicine at our U.S. subsidiary. These appointments have substantially strengthened our management and R&D capabilities. The successful completion of this new round of financing has further enhanced our confidence and capacity to collaborate with our investors over the long term. Together, we are committed to delivering innovative medicines with greater clinical value to benefit patients while generating sustainable returns for our investors.”

Mr. Xie Ronggang, Partner at Zhenxin Valley Capital, stated, “We are delighted to participate in Sciwind’s current round of financing. Zhenxin Valley Capital is dedicated to supporting entrepreneurs who strive for excellence, building world-class enterprises through long-term and sustained efforts. Rooted in independent innovation, Sciwind has established a highly competitive R&D pipeline with both First-in-Class and Best-in-Class potential. We look forward to sharing our experience and resources with Sciwind to accelerate its project development and global R&D layout.”

Dr. Huang Tao, Vice President of IDG Capital, stated, “Sciwind boasts an outstanding management team, a strong product portfolio, and a clear strategic plan, all of which signal significant growth potential for the company and align closely with our investment strategy. We look forward to supporting Sciwind in realizing its vision of becoming a leading enterprise in the field of metabolic diseases in China and globally, jointly improving patients’ quality of life, benefiting the people, and contributing to the world.”

Mr. Chen Gang, Managing Partner at LYFE Capital (Zhouling Capital), stated: “LYFE Capital is dedicated to creating value for high-quality healthcare enterprises. Since our previous investment round, LYFE has established a close partnership with the Sciwind team, leveraging extensive domestic and international resources. Over the past year, we have witnessed Sciwind’s rapid progress and its gradual evolution into an international biotechnology platform. We are honored to continue supporting Sciwind and look forward to working with the team to build a globally leading biotechnology platform in the field of metabolic diseases.”

Sciwind focuses on chronic metabolic diseases and is committed to developing first-in-class or best-in-class innovative large-molecule drugs. Leveraging multiple core platforms, Sciwind has established a pipeline of first-in-class or best-in-class drug candidates at various stages of development. The company has obtained four clinical trial approvals, two of which have been rapidly advanced to Phase II clinical trials.

Zhengxin Valley Capital, established in 2015, has consistently adhered to the investment philosophy of “long-term orientation, focus, and altruism.” It is committed to building China’s premier investment research and post-investment management teams. By conducting in-depth industry research and providing proactive post-investment value-added services, the firm partners with outstanding entrepreneurs to co-create great enterprises that represent the future growth trajectory of China’s economy and generate social value. Since its inception, Zhengxin Valley Capital has invested in a portfolio of high-quality companies that exemplify the future direction of China’s economic development, including Bilibili, ByteDance, POP MART, Junshi Biosciences, InnoCare Pharma, Akeso, CARsgen Therapeutics, Supcon Technology, CALB, Unisoc, Bayi Space, and Avary Holding.

IDG Capital is a globally leading private equity investment firm. With nearly 30 years of development, the firm has accumulated over RMB 150 billion in assets under management and invested in more than 1,000 outstanding companies worldwide, with over 300 successful exits. IDG Capital focuses on leading enterprises in sectors such as internet and high technology, healthcare, advanced manufacturing and clean energy, new consumption and services, and culture and entertainment. Its investments span all stages, including start-up, growth, maturity, and mergers and acquisitions/restructuring, with deal sizes ranging from millions to hundreds of millions of US dollars. In the healthcare sector, notable portfolio companies include MGI Tech, Suzhou Caili Technology, Yuanxin Technology, ZhenGuang DeXin, ZhiBen Medical, Taolue Biotech, EdGene Therapeutics, Gaocheng Biotechnology, BioAim Technologies, ZenGrid Biologics, Shengsi Biopharma, MicroTech Medical, Keya Medical, NoxGroup, Kelun-Biotech Biopharmaceutical, HEC Pharm, IceStone Bioscience, LiJin Biopharma, and Promab Biotechnologies.

LYFE Capital is a healthcare-focused investment fund established in 2015. Committed to investing in healthcare enterprises with exceptional management teams and visionary goals in both the Chinese and U.S. markets, LYFE Capital maintains offices in Shanghai, China, and Menlo Park, California, USA. Its investment portfolio spans innovative biopharmaceuticals, medical devices, and medical diagnostics. LYFE Capital works closely with its portfolio companies, providing not only financial support but also assistance in business development, identification of overseas partners, and strategic and team enhancement, as well as facilitating product approval and market access. For LYFE Capital, portfolio companies are not merely investment targets, but long-term partners.