Xinkanghe Biopharma Completes Tens of Millions of USD Series B Financing to Advance Global First-in-Class Drug Development

Suzhou Kanova Biopharmaceutical Co., Ltd. (“Kanova Biopharma”) announced that it has recently completed a Series B financing round amounting to tens of millions of U.S. dollars.This round of financing was led by Chende Capital, with participation from Sanzheng Health Investment, Zhongxin Industrial Investment, and others. Existing shareholder Hetang Venture Capital continued to increase its stake.The funds raised in this round will be primarily used to accelerate the development and advancement of the Company’s clinical projects and multiple preclinical programs.

Wang Yaning, CEO of Kanova Biopharmastated: “We are deeply honored to have earned the strong trust and robust support of numerous prestigious investment institutions in this financing round. This round of funding will play a pivotal role in accelerating our clinical trial programs and further enhancing the overall quality of our product pipeline. We will work hand in hand with our investors to advance the development of original innovative drugs for the global market, striving to build a leading new drug R&D company rooted in China with a global perspective.”

Kanova Biopharma was founded in 2015 by Academician Dong Chen, a renowned international immunologist, who serves as the Founding Director of the Shanghai Institute for Immunotherapy Innovation and is a Professor at the School of Medicine, Tsinghua University. Grounded in cutting-edge international immunology research, the company focuses on the development of large-molecule therapeutics for autoimmune diseases and immuno-oncology. Committed to creating innovative drugs with independent intellectual property rights that originate in China and target the global market, Kanova Biopharma strives to provide patients with first-in-class or best-in-class treatment solutions.

Over the past six years since its establishment, Kanova Biopharma has assembled a core team with extensive expertise in R&D, process development, and clinical affairs. Adhering to the R&D philosophy of “Innovation, Precision, Quality, and Focus,” and integrating solid basic science with translational medicine, the company has developed multiple proprietary R&D projects and a robust product pipeline.Broad Indication Coverage in Autoimmunity and Oncology. The innovative anti-IL17A/F antibody project has entered the clinical stage for multiple indications. Meanwhile,First-in-class innovative drug projects have sequentially submitted IND applications in China and the United States., looking forward to entering the clinical trial phase soon.

Lead Investor in This Funding RoundChende Capitalstated: “We highly recognize Academician Dong Chen and the Kanova Biopharma R&D team for their profound academic expertise in immunology and extensive experience in antibody drug development. Kanova Biopharma boasts a unique product pipeline and innovative technology platforms, with multiple candidate molecules poised to become first-in-class or best-in-class therapies globally. We look forward to collaborating with Kanova Biopharma to rapidly bring these highly promising products to market, thereby benefiting patients worldwide.”

Chende Capital is an investment firm focused on innovative medical technologies and frontier biotechnology sectors, managed and operated by a professional team with extensive experience in the healthcare industry. It manages multiple RMB and USD-denominated funds.

Leveraging extensive industrial resources in the global healthcare sector and years of deep engagement, we are positioned to promptly identify the latest international technological trends, seize global investment opportunities, and shape the future trajectory of China’s healthcare market. Adhering to the investment philosophy of “focus, excellence, and reputation,” Chende Capital is committed to cultivating top-tier enterprises in the healthcare industry and delivering optimal returns to its investors.

San Zheng Health Investment is a private equity fund dedicated to the healthcare industry. We focus on unmet clinical needs, investing in innovative healthcare technologies to drive their clinical translation and industrialization, thereby saving more lives while improving patients’ quality of life. Leveraging deep resources in clinical practice, industry, and policy, San Zheng Health Investment collaborates with partners to build great health technology enterprises.

CSSD Industrial Investment, fully named China-Singapore Suzhou Industrial Park Industrial Investment Co., Ltd., is a wholly-owned subsidiary of China-Singapore Suzhou Industrial Park Development Group Co., Ltd. (abbreviated as “CSSD Group”) and the parent company of China-Singapore Suzhou Industrial Park Private Equity Fund Management Co., Ltd. (abbreviated as “CSSD Capital”). Aligning with CSSD Group’s development strategy and grounded in its development zones, CSSD Industrial Investment focuses on fields such as life sciences, artificial intelligence, and nanotechnology applications. It deeply explores investment opportunities, empowers portfolio companies through multi-dimensional support, and drives their leapfrog growth.

Hutang Venture Capital Management (Beijing) Co., Ltd. was founded in 2001. It has long adhered to the goal of investing in technology-driven innovative enterprises, with a focus on high-tech, high-growth companies possessing core competitiveness during their start-up and growth stages. The firm specializes in incubating and investing in the commercialization of scientific and technological achievements from Tsinghua University. Hutang Venture Capital currently manages a series of funds, including the Hutang Exploration Fund, Hutang Innovation Fund, Hutang International Health Fund, and Hutang Life Sciences Original Innovation Fund, among others. These funds focus on industries such as new drug development, medical devices, new materials, semiconductors, and high-end manufacturing. Throughout its development, Hutang Venture Capital has gained recognition from domestic and international professional investors. Its fund investors include national and local provincial/municipal government guidance funds, financial institutions such as insurance companies and banks, state-owned enterprises, listed companies, and multinational corporations.