Shenxin Bio Secures Hundreds of Millions RMB in Series A Funding to Advance Best-in-Class LNP Platform for mRNA Therapeutics

VCBeat (WeChat: vcbeat) has learned that Shenzhen Shenxin Biotechnology Co., Ltd. (“Shenxin Bio”), a company focused on the research and development of mRNA drugs and delivery vector technologies, completed a Series A financing round worth hundreds of millions of yuan in the first quarter of this year, leading its peers in funding amount for the same track and round.

This round of financing was led by CPE Yuanfeng, with Junlian Capital participating as a co-investor. Existing shareholders Zhifei Biological Products, Dongpingheng Capital, CAS Star, and Qianhai Fund of Funds continued to increase their investments.

According to insiders, the funds raised in this round will be used for the construction of R&D centers and pilot-scale production workshops, as well as to advance the development of pipeline candidates in areas such as infectious disease vaccines and rare diseases.

Shenxin Biologics was established in November 2019. The company primarily leverages mRNA technology and related delivery technologies to develop novel preventive and therapeutic vaccines and drugs.

Li Linxian, the founder, once studied under Professor Robert Langer of MIT, a pioneer in global biomaterials, a leading global scholar in the mRNA field, and a technical founder of Moderna. In 2017, Li Linxian was named to MIT Technology Review’s “35 Innovators Under 35” in China for developing next-generation LNP technology for mRNA delivery.

In September 2019, Li Linxian, as the first author and the sole designer of the lipid chemical structures involved in the study, published a paper in Nature Biotechnology. The research team developed a novel platform technology capable of synthesizing large libraries of lipid nanoparticles (LNPs) via parallel synthesis within a short timeframe. By integrating high-throughput screening techniques, they rapidly identified optimal LNPs to serve as carriers for mRNA vaccines.

Currently, the biggest challenge for mRNA vaccines is how to effectively deliver mRNA into cells to complete the translation and production of antigenic proteins and elicit a sufficient antigen-specific response. However, due to the slow progress in the development of traditional lipid nanoparticles, the number of effective delivery vectors currently available is very limited. It can be said that the delivery issue is the key bottleneck in unlocking the potential of mRNA vaccines.

Shenxin Bio’s LNP technology platform enables the design and construction of libraries comprising tens of thousands of ionizable lipid-like compounds, allowing for screening across diverse scenarios to identify LNPs tailored to specific requirements for mRNA delivery. The company’s AI platform analyzes and optimizes data on the structure and activity of synthesized LNPs to identify best-in-class LNP structures.

It is reported that Shenshen Bio has built a library of nearly 5,000 lipid nanoparticles (LNPs), which can be used to screen LNP vectors suitable for different therapeutic scenarios, creating excellent conditions for the continuous development of subsequent mRNA product pipelines. Leveraging its leading LNP delivery technology platform, Shenshen Bio has established R&D pipelines in four major areas: infectious disease vaccines, rare diseases, cancer therapeutic vaccines, and cancer immunotherapy enhancers.

Currently, Sinobiologics boasts an R&D and CMC team of nearly 100 members, including several senior executives with extensive experience at major international pharmaceutical companies such as GSK and Pfizer. The company operates a 3,500-square-meter R&D laboratory and a 2,500-square-meter pilot-scale production facility. Multiple experimental programs are being conducted simultaneously, with some having advanced to preclinical studies.

Cao Xia, Executive General Manager of CPE Yuanfeng, a new shareholder in this round, stated“mRNA technology, recognized as one of the top ten breakthrough technologies worldwide in 2021, has stepped onto the historical stage amid the COVID-19 pandemic. While it originated with vaccines, its significance extends far beyond them, serving as a paradigm for the third wave of pharmaceutical innovation and demonstrating substantial potential in other fields such as tumor immunology and protein therapy. Globally, very few teams have mastered lipid nanoparticle (LNP) delivery technology and applied it to the field of mRNA therapeutics. Dr. Li Linxian, founder of Shenxin Biologics, is a world-leading scientist in this domain, possessing core underlying technologies in lipid design, as well as key technical expertise in critical steps including mRNA synthesis and formulation. ‘By not claiming greatness, one achieves true greatness.’ We are deeply honored to collaborate with such an outstanding and professional team and to become a significant shareholder of the company, supporting the development of this Chinese mRNA technology platform that represents the pride of domestic innovation.”

Hong Tan, Managing Director at Legend Capital, stated“In the past five years, nucleic acid drugs within the framework of the ‘central dogma’ have witnessed significant growth. While their mechanisms of action are well-defined, achieving efficient and safe delivery remains the primary challenge. Dr. Li Linxian, founder of Shenxin, brings over a decade of R&D experience in the field of Nucleic Acid Drug Delivery Systems (NDDS), with comprehensive and systematic expertise in nucleic acid biology, mRNA modification, phospholipid synthesis, and pharmaceutics. Dr. Li has demonstrated a remarkable transition from scientist to scientific entrepreneur, leading the Shenxin team to patiently accumulate knowledge, achieve efficient implementation, and integrate diverse resources to accelerate project advancement. We are optimistic about Shenxin’s profound insights into mRNA and delivery systems, as well as the team’s rapid iteration capabilities and execution efficiency.”