Houd Biological Raises Nearly RMB 100 Million in Series A++ Financing to Expand iPSC Cell Therapy Platform and Advance Stroke Clinical Programs

VCBeat (WeChat: vcbeat) has learned that Hopstem Biotechnology, a high-tech innovative enterprise focused on the R&D of clinical cell products derived from directed differentiation of pluripotent stem cells, has announced the completion of its A++ round financing, amounting to nearly RMB 100 million. The round was led by YuanBio Venture Capital, with existing shareholders Longmen Capital and Huacheng Venture Capital participating as follow-on investors.

It is understood that this round of financing will be primarily used to support Hopstem Biotechnology in completing the US and Chinese Investigational New Drug (IND) applications for its hNPC01 forebrain neural progenitor cell therapy product for the treatment of hemiplegia sequelae following ischemic stroke, constructing cell product manufacturing workshops and QC laboratories compliant with FDA GMP requirements, and accelerating the research and development of other innovative products and pipeline candidates.

Hopstem Biotechnology previously secured angel funding from Hangjing KaiChuang Venture Capital, Heli Investment, and Cybernaut; Series A funding led by Data Capital and followed by Ruisheng Investment of Zhongguancun Dongsheng Science Park; and a tens-of-millions-yuan Series A+ round invested by Longmen Capital and Huacheng Venture Capital.

Hopstem Biotechnology, founded in Hangzhou, China in 2017, has been dedicated to developing state-of-the-art iPSC-derived cell therapy products for patients. In accordance with FDA communications and relevant guidelines, the company has leveraged its proprietary iPSC reprogramming technology to establish iPSC cell lines and cell banks suitable for global commercialization. Currently, hNPC01, the first human neural progenitor cell product derived from these cell lines, is a Class 1.1 innovative cell therapeutic agent targeting hemiplegia in the stable phase following stroke and traumatic brain injury. The product has completed batch production testing as well as key stability and quality studies, and formal efficacy and GLP-compliant safety evaluation studies have been initiated. As planned, Hopstem expects to submit Investigational New Drug (IND) applications to China’s NMPA and the U.S. FDA between late 2021 and early 2022, with clinical trials scheduled to commence in mid-2022 upon approval.

Hopstem Biotechnology possesses robust independent R&D capabilities. A series of core patents, including methods for iPSC reprogramming and the induced differentiation of cortical neural precursor cells, have been granted in China and have entered the United States, the European Union, Japan, and other regions via the Patent Cooperation Treaty (PCT). Meanwhile, the company has established a high-standard iPSC platform featuring GMP-compliant manufacturing processes, quality systems, and enterprise quality standards for iPSC cell lines, cell banks, and derived cell products. Currently, Hopstem is engaged in negotiations with several renowned pharmaceutical and biotechnology companies for collaborative development and commercial licensing. Through these partnerships and the expansion of its current iPSC-derived product R&D platform, Hopstem aims to accelerate the development of diverse innovative cell therapy products that are safe, consistent, and effective, thereby enabling patients to benefit from these advancements at an earlier stage.

iPSC-based cell therapy is one of the most promising biotherapeutic technologies for the next decade, holding great potential to address the current lack of effective treatments for nerve injuries and neurodegenerative diseases. Led by Dr. Fan Jing, the founding team of Hopstem Biotechnology possesses a multidisciplinary background in iPSCs and neurological disease research. Drawing on prior experience in neural stem cell therapy, they have developed an iPSC-based cell therapy technology that adheres to ethical and GMP standards and enables large-scale, stable industrial production. This technology is at the forefront of international standards. We are pleased to support such an outstanding venture and look forward to Hopstem Biotechnology’s continued success in R&D, ultimately bringing hope to patients worldwide.

As the lead investor in the previous round, we are pleased to increase our investment in Hopstem Biotechnology’s new financing round. As one of the few innovative cell therapy companies in China focused on neurological diseases, Hopstem has established comprehensive and prominent advantages in neural differentiation of human iPSCs/ESCs and cell engineering. The founding team has demonstrated exceptional execution and strategic capabilities, which are fully reflected in the company’s product pipeline and technological reserves. With very limited treatment options for neurological diseases and significant unmet clinical needs, we look forward to the company continuing to bring hope and benefits to patients and society.

Hopstem Biotechnology boasts robust R&D capabilities and a broad international perspective. The company is making steady progress in the development of cell therapies for neurodegenerative conditions such as stroke. Leveraging its comprehensive technical reserves and patent portfolio in iPSC reprogramming and induced differentiation technologies, Hopstem has established a proprietary iPSC technology platform. This platform holds promise for achieving synergistic breakthroughs in major therapeutic areas, including oncology and ophthalmology, thereby creating greater value for society. We are delighted to have the opportunity to collaborate with such an outstanding team and remain committed to supporting the company’s continued growth.

• Further Reading

Securing Tens of Millions in Series A Funding, “Hopstem Biotechnology” Aims to “Crack” Neurological Diseases with Stem Cell Therapy

To “Conquer” Neurological Diseases with Cell Therapy, Hopstem Biotechnology Secures Tens of Millions in Series A+ Funding