Engenex Biotech Secures Nearly RMB 100 Million Series A Financing to Accelerate Exosome-Based Drug Delivery Research

VCBeat (WeChat ID: vcbeat) recently learned that Beijing ECHO BIOTECH Co., Ltd. (“ECHO BIOTECH”) announced the completion of its Series A financing round, amounting to nearly RMB 100 million.Led by Longmen Capital, with participation from Taiyu Investment and Volcanic Stone Investment; Chana Capital served as the exclusive financial advisor.. The funds raised will be primarily used for the construction of a pilot-scale workshop for exosome therapies, research and development of preclinical product series, and the establishment of an engineered exosome technology platform.

Previously, ECHO BIOTECH completed its angel round and Pre-A round of financing in 2017 and 2018, respectively. Commenting on the completion of this current funding round, Kong Guanyi, CEO of ECHO BIOTECH, stated, “We are deeply grateful to both new and existing shareholders for their continued support. Since its inception, ECHO BIOTECH has been dedicated to the research and clinical translation of exosomes. In the field of translational medicine for exosomes, we have engaged in extensive collaborations with clinical experts and achieved a series of significant outcomes, including academic publications and patents. In terms of exosome-based therapeutics, we have made substantial breakthroughs in multiple areas, such as exosome engineering, large-scale production, purification processes, and quality characterization. We have established robust foundational capabilities and technical reserves for innovative exosome drug development and exosome CMC (Chemistry, Manufacturing, and Controls) development, and have advanced our corresponding clinical pipeline into the stage of animal efficacy studies.”

ECHO BIOTECH, established in 2017, is China’s first innovative high-tech enterprise dedicated to the development and clinical translation of exosome technologies. Its business segments are primarily divided into two areas: First, the research and development of exosome-based innovative drugs, mainly covering fields such as tumor immunology, rare diseases, and neurological disorders; Second, translational medicine research services based on exosomes, which involve scientific collaborations with clinical experts. Currently, its business coverage extends to major key cities across China, and it has established partnerships with more than 50 renowned Grade A tertiary hospitals and research institutions, as well as multiple precision medicine companies.

Exosomes are membrane-bound vesicles, with a particle size ranging from 30 to 150 nm, secreted by living cells. They are widely distributed throughout the human body and contain abundant bioactive components (such as proteins, RNA, and lipids), playing a crucial role in long-distance intercellular communication.

As an endogenous nanocarrier, exosomes possess advantages not found in other drug delivery systems, including: 1) low immunogenicity and minimal toxic side effects; 2) the capacity to carry a wider variety of active ingredients; 3) the ability to circulate throughout all body compartments; and 4) inherent tissue tropism, enabling targeted delivery. Therefore, exosomes are hailed as “naturally domesticated” drug carriers.

In the field of exosome therapy, dozens of companies internationally have already established their presence, including Codiak Biosciences, EVOX Therapeutics, Carmine Therapeutics, Capricor, Avalon, and Aegle Therapeutics. Among them, the representative company Codiak Biosciences went public on NASDAQ in October 2020. Currently, it has two pipeline candidates, Exo-IL12 and Exo-STING, in Phase I clinical trials, and has entered into pipeline collaborations with Jazz Pharmaceuticals and Sarepta Therapeutics, respectively. Another leading company in exosome therapy, EVOX Therapeutics, has established corresponding collaborations with Eli Lilly and Takeda Pharmaceutical.

As one of the earliest biotechnology companies in China to focus on the field of exosomes, ECHO BIOTECH has established a high-efficiency platform for engineered exosome modification, secured core platform intellectual property (IP), and developed mature capabilities for large-scale exosome production and high-purity isolation. Through engineering modifications, the company has significantly enhanced the loading capacity of exosomes with specific active ingredients—including peptides, proteins, and nucleic acid drugs—and achieved selective delivery to target organs. Currently, leveraging its independently developed exosome technology, ECHO BIOTECH has built a pipeline focused on two therapeutic areas: rare diseases and tumor immunotherapy. For rare diseases, the company employs exosome-based protein replacement therapy to supplement deficient intracellular proteins in patients (such as those with lysosomal storage disorders), thereby achieving therapeutic effects. In tumor immunotherapy, it utilizes exosomes to activate endogenous immune signaling pathways in immune cells, in combination with PD-1/PD-L1 monoclonal antibody treatments, to restore the body’s normal anti-tumor immune response.

Lead investor in ECHO BIOTECHWang Haining, Founding Partner of Longmen CapitalIt is indicated that in the field of gene therapy, current delivery technologies—including liposomes, lentiviruses, and adeno-associated viruses (AAV)—each have their own advantages and limitations. As a novel drug delivery system, engineered exosomes have gradually demonstrated their unique advantages. In recent years, engineered exosome delivery platforms have achieved significant breakthroughs in translational medicine. ECHO BIOTECH has established its competitive barriers in exosome engineering, vesicle production, and target discovery. We remain optimistic about the future development of engineered exosomes and the pragmatic, efficient team at ECHO BIOTECH; we look forward to the company achieving rapid breakthroughs in new drug R&D in the coming years, thereby addressing more unmet clinical needs in oncology and other serious diseases.

Dr. Ji Tianrong, Founder & General Manager of Taiyu InvestmentExosomes, as a novel drug delivery vehicle, exhibit excellent biocompatibility, low immunogenicity, and the ability to cross biological barriers such as the blood-brain barrier and placental barrier, indicating significant potential for future development. As a leading enterprise in exosome R&D in China, ECHO BIOTECH boasts a core team with in-depth expertise in bioinformatics and biochemistry, maintains close collaboration with exosome industry associations, and holds a prominent position in the industry. Its exosome engineering platform, leveraging proprietary scaffold proteins, enables both surface display and encapsulation of target proteins. This platform can efficiently carry target protein fragments and in vitro-synthesized siRNA sequences. Furthermore, the company possesses a domestically leading platform for large-scale exosome production and quality control. We hope that ECHO BIOTECH will achieve breakthroughs in exosome-based therapies in China and abroad at an early date.

Zhang Suyang, Founding Partner of Volcanic Stone InvestmentHe stated, “Exosomes are naturally present in the human body. From the perspective of drug delivery, as natural endogenous carriers, they theoretically offer advantages such as minimal toxic side effects, low immunogenicity, and superior permeability. With the increasing computational nature of drug molecule discovery and the modular assembly capabilities of structural engineering, drug delivery and absorption are becoming increasingly critical. We believe exosomes represent a significant and promising delivery pathway. Over the past few years, ECHO BIOTECH has accumulated extensive experience in exosome engineering and has currently established small-batch production capabilities. We look forward to our platform contributing to enhanced drug efficacy in the human body and playing a more substantial role in the emerging landscape of ‘digitalization of life’ and ‘biologization of digital technology.’”

Longmen Capital is a specialized venture capital firm in the pharmaceutical industry, focusing on early-stage and growth-stage investments in innovative pharmaceuticals and biotechnology. The team members all have backgrounds in pharmaceuticals or finance, with many years of investment and management experience in the pharmaceutical industry. Since its establishment in 2017, Longmen Capital has invested in more than 30 innovative pharmaceutical companies, with an asset under management scale of nearly RMB 3 billion.

Taiyu Investment, established in 2014, is an independent professional venture capital firm under Tigermed, a publicly listed company. Taiyu Investment focuses on equity investments in early-stage and growth-stage companies within the healthcare sector. Its management team boasts extensive background in the pharmaceutical and healthcare industries, broad industry resources, and rich investment experience. To date, it has completed early-stage equity investments totaling over RMB 1 billion across more than 70 projects, primarily serving as a lead investor in Seed or Pre-A rounds. Its investment portfolio covers medical devices, biopharmaceuticals, health supplements, and CRO enterprises. By empowering its portfolio companies, Taiyu Investment creates value for the development of the healthcare industry in China and globally, contributing to public health.

Volcanic Stone Investment, established in 2017, is dedicated to identifying, investing in, and serving high-growth-potential startups in China’s pan-intelligent technology and healthcare sectors. We provide sustained value-added services and grow alongside our portfolio companies. Currently, Volcanic Stone Investment manages assets exceeding RMB 3 billion through dual-currency funds (RMB and USD). Our fund managers have collaborated closely for many years, accumulating over 60 years of combined experience in investment and corporate management, along with deep industry resources. Volcanic Stone Investment aims to harness explosive growth energy and serve as the cornerstone of entrepreneurial success.