BioInnovate Announces Tens of Millions in New Funding to Accelerate Antibody Drug Discovery Engine

Beijing, Boston/June 22 – Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”), an international biotechnology company driving new drug development with its innovative gene-edited model animal technology, today announced the successful completion of a new round of financing amounting to tens of millions of US dollars. This round of financing was jointly completed by Lake Bleu Capital, CPE Yuanfeng, Octagon Capital, and OrbiMed.

Biocytogen, founded in 2009, adheres to the philosophy of driving new drug development with innovative technologies. It has continuously increased its investment in the research and development of foundational antibody drug technologies. After more than a decade of accumulation and growth, Biocytogen has evolved from a contract research organization (CRO) solely providing customized gene-editing services into an international biotechnology company covering the entire chain of new drug R&D, including antibody drug target validation, antibody drug discovery, in vivo efficacy evaluation, and clinical drug development.

Biocytogen, with its independently developed and wholly owned fully human antibody platform RenMab^®、RenLite^®Leveraging its mouse platform, the company integrates efficient mouse target gene knockout technology, high-throughput single B-cell antibody discovery technology, and a rapid in vivo efficacy evaluation platform to establish a unique large-scale R&D program for innovative target antibodies, known as the “Thousand Mice, Ten Thousand Antibodies” Initiative.

Leveraging the “Thousand Mice, Ten Thousand Antibodies” initiative, the company is committed to completing large-scale, high-efficiency antibody discovery and in vivo efficacy screening for over 1,000 potential antibody drug targets in the coming years. It focuses on identifying drug targets and lead antibody molecules with First-in-class and Best-in-class potential, thereby driving source innovation for Chinese biopharmaceutical enterprises. By providing lead antibody molecules validated through in vivo efficacy studies in animals, the company establishes deep collaborative R&D partnerships with innovative drug development firms both domestically and internationally. Since 2020, the company has entered into cooperative development agreements with more than ten pharmaceutical R&D enterprises, aiming to become a global source of novel drugs in the future.

Dr. Shen Yuelei, Founder of Biocytogen“During the two-month period from the launch to the completion of this funding round, the company received extensive attention and recognition from top-tier biomedical funds and long-term investment institutions. We warmly welcome our new shareholders, who boast outstanding reputations, to join the Biocytogen family.”

Emphasizing the research and development of foundational technologies and innovation serves as the cornerstone of our growth. After more than a decade of substantial R&D investment, we have achieved significant progress in areas such as ultra-large fragment gene editing technology, the development of fully human antibody transgenic mouse models, and bispecific antibody development. Breakthroughs in these core technologies have laid a solid technical foundation for the implementation of the company’s “Thousands of Mice, Tens of Thousands of Antibodies” initiative, empowering us to continuously explore fields including monoclonal antibodies, bispecific antibodies, bispecific antibody-drug conjugates (BsADCs), and nanobodies, with the commitment to becoming one of the most innovative biopharmaceutical companies globally.

YH003 (anti-CD40) and YH001 (anti-CTLA-4), antibody drug candidates independently developed by Biocytogen and its wholly-owned subsidiary Youhe Pharma, have demonstrated excellent safety profiles and favorable efficacy in Phase I clinical trials conducted in Australia in combination with Junshi Biosciences’ PD-1 antibody. The preclinical in vivo animal data have been well validated in the clinical phase, fully substantiating the high reliability of Biocytogen’s distinctive drug development approach, which uses in vivo efficacy data in animals as the “gold standard” for preclinical drug screening. “We are confident that YH003 and YH001 will achieve outstanding results in global Phase II clinical trials.”

Dr. Li Bin, Founder of Lake Bleu Capitalstated, “We have long been following Biocytogen. As a pioneer in the gene-edited model animal industry, Biocytogen leverages its robust gene-editing technology to globally lead the development of hundreds of humanized mouse models for various targets, thereby accelerating the global new drug R&D process. The company’s independently developed, globally leading fully human antibody mouse platform has laid a solid foundation for its growth.”

Launched in 2020, the “Thousands of Mice, Ten Thousands of Antibodies” initiative leverages the company’s proprietary fully human antibody mouse models and integrates its various technology platforms developed over many years. This initiative enables targeted, large-scale, and high-throughput evaluation of innovative drug targets and screening of antibody molecules, facilitating independent clinical development or collaborative efforts with pharmaceutical companies both domestically and internationally. This strategic upgrade will undoubtedly significantly enhance the utility and value of the company’s technology platforms, reminiscent of the successful trajectory of Regeneron, a global leader in biotechnology R&D.

“Lake Bleu Capital is honored to have become a shareholder of Biocytogen during this pivotal phase of the company’s strategic upgrade. We look forward to providing sustained support for Biocytogen’s medium- to long-term strategy, helping the company build its unique engine for antibody-based novel drug development.”

CPE Yuanfeng Executive General Manager Cao Xiastated, “Genetically edited animal models form the foundation for innovative biopharmaceutical R&D. With over a decade of technical expertise, Biocytogen has achieved breakthroughs in large-fragment gene editing and the development of fully human antibody mice, laying a solid technological foundation for the company’s antibody drug R&D system centered on its ‘Thousands of Mice, Ten Thousands of Antibodies’ initiative. We are delighted to partner with such visionary entrepreneurs and look forward to supporting Biocytogen’s growth into a significant force in innovative biopharmaceuticals in China and worldwide.”

Dr. Jia Ting, Partner at Octagon Capitalstated, “Biocytogen has established a distinctive antibody drug development platform. We highly recognize the excellent safety profile and favorable therapeutic efficacy demonstrated by YH003 and YH001 in clinical trials, which fully validates the effectiveness of Biocytogen’s proprietary ‘Evidence-based’ drug development system.”

Wang Ting, Partner at OrbiMedstated, “Biocytogen’s ‘Thousand Mice, Ten Thousand Antibodies’ program is a large-scale, high-efficiency antibody discovery and screening platform, focusing on the identification of drug targets and antibody molecules with First-in-class and Best-in-class potential. This is a highly exciting innovative drug development initiative. We strongly endorse it and look forward to Biocytogen driving source innovation for Chinese biopharmaceutical companies.”