Jiayue Pharmaceuticals Secures Over RMB 300 Million in Series B Financing to Advance Mid- to Late-Stage Clinical Pipeline

VCBeat (WeChat ID: vcbeat) has learned that Jiayue Pharma, an innovative drug R&D company, recently completed a Series B financing round of over RMB 300 million. The round was co-led by SDIC Venture Capital and Sequoia Capital China, with participation from Lingcheng Venture Capital and Xiangrong Capital. Hycapital served as the exclusive financial advisor for this financing round. The proceeds will be used to advance multiple late-stage and mid-stage clinical projects in the company’s innovative drug pipeline.

“Jiayue: Pioneering the Future, Eradicating Disease with Precision Medicines; Transcending Dreams for a World Without Physicians.” Driven by translational medicine and clinical medicine, Jiayue Pharmaceuticals is dedicated to developing innovative drugs, creating clinical value, meeting unmet clinical needs, and empowering patient health. Leveraging the strategic geographic advantages and rich talent pools of the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, the company has established R&D centers in Guangzhou, Shanghai, and Hangzhou. It boasts a dynamic and experienced team of innovative drug researchers who have previously contributed to the development of multiple First-in-Class (FIC) and Best-in-Class (BIC) therapies.

Jiayue Pharmaceuticals has always adhered to the philosophy of “In China, for Global,” focusing on the development of therapeutics in oncology, autoimmune diseases, metabolic disorders, and infectious diseases. Leveraging its excellent translational medicine platform, the company delves deeply into targets, mechanisms, and the scientific foundations of diseases, continuously advancing preclinical candidates (PCC) with clinical development value into clinical drugs validated for efficacy and safety in Phase II clinical trials (Proof-of-Concept, PoC). Ultimately, Jiayue Pharmaceuticals aims to provide patients with truly clinically valuable products that are more effective, safer, and more cost-effective, addressing unmet medical needs rather than following trends in crowded therapeutic areas.

Currently, the company has multiple innovative drug projects, including First-in-Class (FIC) and First-in-Disease (FID) candidates, with more than ten clinical trials underway simultaneously, establishing a robust and diversified R&D pipeline.

Jiayue Pharma is honored to welcome new institutional shareholders, including SDIC Venture Capital, Sequoia Capital China, Lingcheng Ventures, and Xiangrong Capital. With the joint support of these new investors and existing shareholders—WuXi AppTec, Shanghai Lianhe Investment, Yuexiu Industrial Fund, and Guangzhou Emerging Fund—Jiayue Pharma is confident in fulfilling its mission of medical translation and creating innovative clinical value. The company aims to become a platform enterprise for the clinical translation of innovative drugs, contributing expertise to the transformation of scientific and technological achievements in China, developing innovative products to benefit patients, and empowering global health initiatives.

Dr. Chen Zhuxi, Vice President of SDIC Venture Capitalstated: “Over the more than two years of tracking Jiayue, we have observed that the Jiayue team has demonstrated strong capabilities in medical translation, execution, and cohesion. Multiple projects under development have reached milestone nodes on schedule or ahead of schedule, and its pipeline also shows a good balance of risk. At the same time, the attempts and efforts made by the Jiayue team in early exploration and clinical translation are impressive.”

“We are optimistic about its business model and talent pool, and we believe that Jiayue will continue to efficiently drive its R&D pipeline toward deeper innovation, providing better solutions for multiple therapeutic areas with unmet clinical needs. SDIC Venture Capital, through the SDIC Guangdong Fund under its management, has completed its investment in Jiayue Pharma. We will work closely with the Jiayue team to further establish the company as an influential hub for pharmaceutical innovation in the Greater Bay Area, thereby supporting the optimization of regional industrial layout and facilitating industrial transformation and upgrading.”

Dr. Gu Cuiping, Managing Director of Sequoia Capital Chinastated: “Jiayue Pharmaceuticals has conducted in-depth, differentiated research in key therapeutic areas of long-standing interest to us, including oncology and immunology, metabolic disorders, and major infectious diseases. Leveraging a profound understanding of translational medicine and a comprehensive clinical development strategy, the company delivers superior solutions to address unmet clinical needs. We are deeply impressed by the R&D team’s insightful approach to innovation and their extensive practical experience. We are delighted to partner with Jiayue Pharmaceuticals, a team characterized by sustained innovative capacity and high operational efficiency, and look forward to its emergence as a world-class innovative pharmaceutical enterprise.”

Mr. Sun Hangcheng, Partner at Lingcheng Venture Capitalstated, “We are delighted to participate in this pivotal phase of the company’s development. We have strong confidence in Jiayue Pharmaceutical’s differentiated product strategy, which will bring new opportunities and hope to the fields of major diseases such as solid tumors and infectious diseases. The founding team has long been deeply engaged in innovative drug development, accumulating extensive experience and achieving remarkable results. The core team covers all stages of clinical development, boasting unparalleled capabilities in medical translation and clinical advancement within China. We look forward to deepening our collaboration with the company and fully supporting the R&D of its innovative pipeline, thereby continuing to create value for society.”

Mr. Zeng Yu, Executive Director and General Manager of Xiangrong Capitalstated: “We are a team dedicated to investing in breakthrough technologies and innovative spirit within the life sciences sector. Jiayue Pharma’s current pipeline consists entirely of products addressing unmet clinical needs, holding substantial market potential. The company’s team demonstrates strong execution capabilities and medical translation expertise. To date, the company has achieved multiple significant milestones, with several products having entered clinical stages, and trial data validating product safety and efficacy. We are confident in the team’s ability to rapidly advance a sustainable pipeline of innovative drug products and are pleased to support Jiayue Pharma’s continued development to benefit patients.”

Dr. Shen Siyu, Lead Investor of Series A from Shanghai United InvestmentIt stated: “Jiayue Pharmaceuticals is dedicated to the research and development of innovative drugs, with a focus on clinical translational medicine. Its key therapeutic areas include oncology, autoimmune diseases, and metabolic disorders, with all product candidates being innovative new chemical entities (NCEs). These innovative drug programs are designed to address current unmet clinical needs and possess differentiated competitive advantages, aligning closely with Lianhe Investment’s strategic direction in pharmaceutical innovation.”

“We are delighted to have the opportunity to collaborate with the team at Jiayue Pharmaceuticals in the research and development of innovative drugs. Since our investment, we have been deeply impressed by the team’s efficient execution capabilities and the rapid advancement of their clinical projects. This progress is inseparable from the meticulous and robust translational medicine research and clinical development efforts led by Dr. Li Yongguo, Chief Scientific Officer (CSO). With the introduction of strategic investors such as SDIC Innovation Investment and Sequoia Capital in this financing round, Jiayue Pharmaceuticals will benefit from stronger financial and resource support. We have every reason to expect that the Jiayue Pharmaceuticals team will accelerate its efforts to deliver innovative therapies with genuine clinical value to patients.”

Mr. Lu Rong, Managing Partner and President of Yuexiu Industrial Fund, the lead investor in the angel roundIt stated: “Jiayue Pharmaceuticals is an innovative drug R&D company founded by a team with extensive practical experience in the development of novel therapeutics, focusing on malignant tumors, metabolic diseases, and major infectious diseases. The founding team possesses rich experience in drug development and operational management, and the company’s product pipeline holds significant market potential. We remain bullish on Jiayue Pharmaceuticals and will continue to practice empowering investment to help it address substantial unmet clinical needs both domestically and internationally, while accelerating the R&D of global innovative drugs.”

Mr. Yang Zhenjun, Partner at Haoyue Capitalstated, “We are honored to assist Jiayue Pharma in completing its Series B financing. Dr. Li Yongguo, Chief Scientific Officer (CSO) of Jiayue Pharma, brings many years of experience in innovative drug R&D and leads a seasoned team specializing in innovative drug development and clinical translation. The company has developed a highly competitive, innovative, and differentiated product pipeline targeting disease areas with unmet clinical needs, including oncology, immunology, metabolism, and infectious diseases. Haoyue Capital is committed to serving the most outstanding innovative pharmaceutical companies. We believe that, with capital support, Jiayue Pharma’s innovative drug products will create substantial social and commercial value.”

SDIC Venture Capital was established in 2016 as a private equity fund management company specially set up by State Development & Investment Corp. (SDIC) to implement the national innovation-driven development strategy, deepen comprehensive strategic cooperation with the Ministry of Science and Technology, and accelerate the transfer and commercialization of national scientific and technological achievements, operating on a market-oriented basis.

SDIC Venture Capital, leveraging platforms such as the National Science and Technology Major Project Achievement Transformation Fund, SDIC (Guangdong) Scientific and Technological Achievement Transformation Venture Investment Fund, SDIC Beijing-Tianjin-Hebei Scientific and Technological Achievement Transformation Fund, SDIC High-Tech (Shenzhen) Venture Capital Fund, and SDIC (Ningbo) Scientific and Technological Achievement Transformation Fund, has consistently adhered to its investment objectives for the commercialization of scientific and technological achievements. It focuses on key sectors including advanced manufacturing, electronic information, materials and energy, and biopharmaceuticals. Aligning with national regional development strategies in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area, SDIC Venture Capital continuously promotes breakthroughs in independent innovation of core critical technologies and fosters a robust investment ecosystem for the transformation of scientific and technological achievements.

Sequoia Capital has always been committed to helping entrepreneurs build enduring, great companies by providing its portfolio companies with abundant global resources and valuable historical experience. Over the past 49 years, Sequoia Capital has invested in numerous innovative enterprises and leaders shaping industry trends. As “entrepreneurs behind entrepreneurs,” Sequoia Capital China focuses on investment opportunities in three key sectors: TMT (Technology, Media, and Telecom), healthcare, and consumer goods/services. Over the past 16 years, Sequoia Capital China has invested in nearly 600 companies characterized by distinct technological advantages, innovative business models, and high growth potential.

Lingcheng Venture Capital is a specialized investment fund focused on innovative oncology therapeutics, dedicated to investing in biopharmaceutical companies with genuine innovative value and exceptional management capabilities. Leveraging our deep understanding of China’s biopharmaceutical industry and extensive resources within the clinical research ecosystem, we work closely with our portfolio companies to achieve mutual growth. Beyond financial support, we connect Chinese innovative drug developers with strategic partners, top-tier talent, CRO services, and other key ecosystem resources. Guided by our vision, “Pioneering Innovation, Upholding Medical Ethics,” we are committed to joining hands with our portfolio companies to contribute to the advancement of innovative drug development in China.

Xiangrong Capital was established in 2018. Its core team possesses extensive experience in managing government-guided funds, having managed the Guangzhou Rural Revitalization Industry Fund and the Guangzhou Municipal Industry and Information Technology Sub-fund, adopting a “fund of funds + direct investment” model. Since its inception, Xiangrong Capital has received honors such as “Top 50 Best Government-Guided Funds in China” and “Top 20 Emerging Investment Institutions in China.”

Meanwhile, Xiangrong Capital is a limited partner in renowned funds such as Meituan Longzhu, Xinli Capital, Danlu Capital, and Emerging Fund. With distinctive investment capabilities in the life sciences sector, Xiangrong Capital focuses on clinically urgent needs and cutting-edge life science technologies through market-oriented direct-investment funds. It has invested in multiple industry leaders across key sectors, including cell therapy, bispecific antibodies for oncology, and regenerative medical aesthetics, striving to become a respected professional investment institution.

Guangzhou Yuexiu Industrial Investment Fund Management Co., Ltd. (hereinafter referred to as “Yuexiu Industrial Fund”) was established in 2011 and serves as the private equity investment management platform under Yuexiu Financial Holdings Group. As of December 2020, the company’s cumulative assets under management exceeded RMB 80 billion. Through years of market-oriented and professional development, the company has formed a business layout centered on fund-of-funds investments, with two supporting pillars: equity investments and mezzanine investments, growing into a leading industrial capital operator in the Guangdong-Hong Kong-Macao Greater Bay Area.

The company has successively received awards including “Top 3 China’s Best State-Owned Market-Oriented Fund of Funds,” “Top 10 China’s Market-Oriented Fund of Funds for Best Returns,” “Top 10 Best Private Equity Investment Firms in the Guangdong-Hong Kong-Macao Greater Bay Area,” “Top 10 Most Influential Real Estate Funds in China,” and “Top 20 China’s Best Chinese-Sponsored Private Equity Investment Firms.”

Haoyue Capital, established in January 2014, is committed to serving as a bridge connecting China’s healthcare industry with capital. Its research and transaction coverage spans multiple sub-sectors, including innovative medical devices, biopharmaceuticals, IVD and precision medicine, healthcare services, and smart healthcare. The Haoyue Capital team comprises senior investment bankers with extensive experience in China’s healthcare sector. By closely monitoring market dynamics and investment trends in healthcare over the long term, the firm releases weekly healthcare investment updates and thematic research reports, offering Haoyue’s perspectives on new policies and emerging frontiers.