Xueji Biotech Secures Tens of Millions in Seed Funding to Advance Hematopoietic Lineage Platform in Cancer Immunotherapy and Regenerative Medicine

VCBeat has learned that HemaCell Therapeutics, a novel cell therapy company based in Suzhou, has officially announced its establishment. Founded in June 2021 at the BioBAY (Suzhou Industrial Park Biomedical Industry Park), the company will formally open its laboratory and office facilities on October 13. HemaCell is a biopharmaceutical enterprise specializing in novel cell therapies and stem cell medicines, founded by returning overseas experts. Several months prior, HemaCell completed a tens-of-millions-yuan angel financing round, co-led by Weidu Investment and Yuanhe Holdings, with Zhongli Fund participating as a follow-on investor. This funding will support HemaCell in building its team, establishing an R&D platform, implementing key technologies, and developing a distinctive product pipeline.

According to official information, HemaCell’s lead product is in vitro-generated platelets, aimed at addressing the urgent shortage of platelets in the treatment of cancer, liver disease, acute and critical conditions, and hematologic disorders, with the goal of sparking a second transfusion revolution. The company will also develop innovative therapeutics for various diseases associated with platelet abnormalities. Leveraging globally leading directed differentiation systems for pluripotent stem cells (including embryonic stem cells and iPSCs) and adult stem cells, HemaCell focuses on the in vitro regeneration of diverse cell types within the hematopoietic and immune systems derived from hematopoietic stem cell differentiation, including platelets, red blood cells, macrophages, and NK cells. These cell types are currently prominent candidates for cell therapy and serve as key vehicles for drug delivery. Furthermore, the company’s proprietary non-viral, site-specific gene-editing technology is not only applied to the establishment and editing of iPSC lines but also enables efficient insertion of chimeric antigens into the genome. HemaCell aims to forge strong alliances and close collaborations with cancer immunotherapy companies to secure a leading position in the field of engineered immune cell therapies derived from stem cell differentiation.

The company’s team is a top-tier R&D group in the field of stem cells and cell therapy, with multiple members having returned from the United States specifically for this project. The company’s founder, Dr. Zhu Fangfang, boasts an impressive pedigree, combining academic, investment, and entrepreneurial experience. Dr. Zhu holds a Ph.D. in Cell Biology from Peking University, completed her postdoctoral fellowship at Stanford University, serves as a tenured-track Associate Professor at Shanghai Jiao Tong University, and is recognized as a High-Level Overseas Talent in Shanghai. She studied under Professor Irving Weissman, Director of the Institute for Stem Cell Biology and Regenerative Medicine at Stanford University and known as the “father of stem cell research,” as well as Professor Deng Hongkui from the School of Life Sciences at Peking University. She has published numerous high-impact academic papers and holds multiple patents. Dr. Zhu previously worked at the established venture capital firm WI Harper Group, where she was responsible for healthcare investments in the United States and received the SVIEF “Sand Hill” Investment Award. Additionally, Dr. Zhu served as President and Chair of the Peking University Northern California Alumni Association, and as Founding Secretary-General and Director of the Zhejiang Chamber of Commerce in the USA.

The Company’s R&D Director, Deputy R&D Director, Business Development Director, and Scientific Advisors all hold Ph.D. degrees in Cell Biology from Peking University, where they were supervised by Professor Hongkui Deng. The Administrative Director also worked in Professor Deng’s laboratory for many years. After leaving Peking University, team members pursued further training at prestigious institutions such as Harvard University, Stanford University, and the Roswell Park Comprehensive Cancer Center, and gained professional experience at renowned domestic and international companies including UCB, Merck, BD, and WuXi AppTec. In addition, other senior executives, such as the Production Director, possess extensive experience with ISO 9001, AABB, and CAP certifications, and have collectively overseen the construction of GMP-compliant laboratory facilities exceeding 40,000 square meters. Leveraging their shared academic background and diverse domestic and international professional experiences, the team members bring complementary expertise and work together with seamless coordination.

The founder of HemaCell stated, “We are deeply grateful to our investors and friends from all sectors for their recognition and support. This round of financing will significantly accelerate the company’s rapid growth. Our investors have fully demonstrated the principles of professional and value-based investment in this round, providing utmost support for the development of HemaCell’s various initiatives. We look forward to collaborating and growing together with them. HemaCell also extends special thanks to all team members who believed in our ideals and vision even during our ‘stealth mode’ phase. Meanwhile, we have witnessed the team’s exceptional execution capabilities; even before formal operations commenced, they made comprehensive preparations in areas such as filing intellectual property portfolios, building R&D platforms, establishing multiple pipelines, and collaborating with affiliate companies. Each member is a valuable asset to HemaCell! We will remain committed to HemaCell’s mission of ‘Coagulating Care, Hemostasis for Health,’ and we are confident that HemaCell will ultimately achieve the second transfusion revolution and seize the era-defining opportunities in cell therapy.”

WeiDu Capital’s Assessment: “HemaCell is dedicated to the innovative clinical application of next-generation stem cell technologies, poised to fill a gap in the global market and unlock significant market potential. Dr. Zhu Fangfang, who studied under Professor Deng Hongkui at Peking University and Professor Irving Weissman, the ‘father of stem cells’ at Stanford University, is a highly skilled professional with interdisciplinary expertise. We believe that under her leadership, the HemaCell team will make major pioneering contributions to this field.”

A project leader at Yuanhe Holdings stated, “Yuanhe Holdings is pleased to participate in the angel round investment in HemaCell. The large-scale in vitro production of platelets, which addresses the urgent shortage of platelets needed for treating cancer, liver disease, acute and critical conditions, and blood disorders, holds significant clinical importance. Dr. Fangfang Zhu, the founder, has extensive experience in stem cell-based regeneration of hematopoietic lineages and has rapidly assembled a high-caliber team for R&D, production, and business development. We look forward to the HemaCell team’s success in achieving large-scale, stable, efficient, and safe in vitro manufacturing of platelet cells, helping transfusion medicine break its dependence on blood donations and ultimately benefiting a broad patient population.”

Weidu Capital, a dynamic and youthful venture capital firm, specializes in early-stage investments in the healthcare sector. Weidu Capital focuses on cross-disciplinary applications of cutting-edge technologies—such as biotechnology and artificial intelligence—in healthcare, pursuing more precise, efficient, and intelligent diagnostic and therapeutic solutions enabled by new technologies, as well as technology-driven business model innovations. Leveraging extensive industry experience and medical resources, the Weidu team is dedicated to accompanying its portfolio companies throughout their growth journey, providing comprehensive support at every stage to empower enterprises and help entrepreneurs “bridge the gap from vision to realization.”

Since its establishment in 2001, Yuanhe Holdings has focused on the field of equity investment, managing funds exceeding RMB 100 billion, making it one of the leading equity investment institutions in China. Since its inception, the company has prioritized investment opportunities in emerging industries such as integrated circuits, biopharmaceuticals, artificial intelligence, nanotechnology applications, cloud computing, and big data, while remaining committed to supporting the real economy and promoting industrial transformation and upgrading. To date, it has directly invested in over 1,000 projects, and its fund-of-funds platform has invested in 129 sub-funds.