VISEN Pharmaceuticals Secures $150 Million Series B Financing to Accelerate Innovative Endocrine Therapies in Greater China

VISEN, a biopharmaceutical company focused on the development and commercialization of innovative drugs in the field of endocrinology and committed to enabling patients in China (including the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan) to benefit earlier from advanced global endocrine treatment solutions, announced on January 9 this year the completion of a $150 million Series B financing round.

This round of financing was led by HongShan, with participation from OrbiMed, Sherpa Healthcare Partners, Cormorant, HBM Healthcare Investments, Dingsheng Life Science Capital, Logos Capital, and Total Ample Limited. Existing shareholders Ascendis Pharma A/S, Vivo Capital, and Sofinnova Investments continued to increase their investments in this round. The proceeds from the Series B financing will be used to accelerate the clinical development of VISEN’s best-in-class product pipeline in Greater China and to establish a strong commercial foundation for the next stage of growth.

“We are grateful to our existing shareholders and new investors for their confidence in and support of our innovative product pipeline and our team with specialized expertise in endocrinology research. The field of endocrine therapy holds broad prospects in China, where there remains a significant unmet clinical need. Standard treatment protocols in China still lag behind those in the United States or Europe,” said Mr. Lu Anbang, CEO and Director of VISEN Pharmaceuticals. “We remain committed to introducing novel mechanisms of action and best-in-class innovative therapies to China to meet the clinical needs of more patients. Since its establishment in late 2018, the VISEN team has achieved multiple clinical development milestones for our three leading endocrine drug candidates: TransCon human growth hormone (lonapegsomatropin), TransCon parathyroid hormone, and TransCon C-type natriuretic peptide. The Series B financing will accelerate the clinical development, manufacturing, and commercialization of our current drugs, while also helping the company expand international collaborations and continuously enrich its innovative product pipeline.”

“Our collaboration with VISEN is a key component of our ‘3x3 Vision’ strategy, aimed at expanding the global reach of TransCon technology platform-based endocrine disease candidates and improving the lives of patients worldwide,” said Jan Mikkelsen, President and Chief Executive Officer of Ascendis Pharma and Director of VISEN. “Since VISEN’s establishment in 2018, the company has made significant progress in its clinical activities in Greater China. We believe this will accelerate the delivery of our globally innovative endocrine therapies to patients.”

Mr. Fu Shan, Managing Partner at Vivo Capital and Director of VISEN, stated, “VISEN presents significant opportunities and commercial potential. We believe that, in today’s evolving pharmaceutical market, VISEN will deliver breakthrough therapies to the Greater China market through its highly effective leadership team, continuously creating value for shareholders. Vivo Capital remains firmly committed to supporting the company’s mission and development.”Dr. Dong Dandan, Managing Director at Vivo Capital and Director of VISEN, remarked, “As a leading endocrinology specialist in China, VISEN has achieved remarkable results over the past two years by building an innovative drug pipeline capable of addressing substantial unmet medical needs. The participation of new investors in this Series B financing round marks an important milestone, reflecting the confidence of well-capitalized investors in VISEN’s growth into a regionally leading endocrinology platform company.”

Cao Yibo, Managing Director at HongShan China Fund, stated: “VISEN has introduced outstanding and differentiated endocrine therapies for patients in the Greater China region, and we are pleased to support the clinical development of these candidates. We believe that by combining Ascendis Pharma’s leading platform technology with a commercial mechanism designed to create mutual benefits for all strategic shareholders, more Chinese patients will gain earlier access to advanced global treatment options, thereby promoting the rapid and healthy development of the industry.”

Upholding the patient-first business philosophy, VISEN is developing its leading clinical-stage drug candidates in the Greater China market: TransCon human growth hormone (lonapegsomatropin), TransCon parathyroid hormone, and TransCon C-type natriuretic peptide. Currently, the Phase III study of TransCon human growth hormone (lonapegsomatropin) is underway in China. The ACcomplisH China Phase II clinical trial for TransCon C-type natriuretic peptide received clinical trial approval from the China National Medical Products Administration on January 7, 2021, and is set to launch in parallel with Ascendis Pharma’s global ACcomplisH trial.

VISEN Pharmaceuticals is committed to becoming an expert in the field of endocrine-related therapies, introducing globally leading treatments and medications to China, with the aim of enabling more Chinese patients to benefit earlier from advanced and reliable global treatment solutions.

VISEN was established in 2018, co-founded by a consortium of investors led by Ascendis Pharma A/S (Nasdaq: ASND) and Vivo Capital, with Sofinnova Investments participating in the initial round of financing. VISEN obtained an exclusive license from Ascendis to develop and commercialize its endocrinology treatment portfolio in the Greater China region, covering mainland China as well as Hong Kong, Macao, and Taiwan.

Ascendis Pharma (Ascendis Pharma A/S, Nasdaq: ASND) leverages its globally unique and innovative TransCon long-acting technology platform to build a leading, fully integrated biopharmaceutical company dedicated to delivering truly transformative benefits to patients’ lives.

Guided by its core values of “Patients First, Science Leading, All In,” Ascendis Pharma leverages its proprietary TransCon technology to develop novel and effective best-in-class therapies. Ascendis Pharma currently has three independent endocrinology candidates in clinical development and is advancing oncology as its second key therapeutic area. The company will continue to expand into additional therapeutic areas to address unmet patient needs.

Ascendis Pharma is headquartered in Copenhagen, Denmark, with offices in Heidelberg and Berlin, Germany; Palo Alto and Redwood City, California; and Princeton, New Jersey.

Vivo Capital, established in 1996, is a global investment firm focused on the healthcare sector. The firm manages approximately $4.3 billion in assets and has invested in 280 public and private companies worldwide. Headquartered in Palo Alto, California, Vivo Capital also maintains offices in Asia. Its team comprises more than 50 multidisciplinary professionals, including physicians, scientists, entrepreneurs, operating executives, and industry experts.

Vivo Capital operates multiple fund investment platforms, covering growth equity, private equity (including buyouts), venture capital, and public equity. Across all fund strategies, it maintains broad investments in the healthcare sector—including biotechnology, pharmaceuticals, medical devices, and healthcare services—with a focus on the largest segments of healthcare investment.

Since its founding in 1974, Sofinnova has been an active investor in the life sciences sector. As a clinical-stage biopharmaceutical investment firm, Sofinnova manages approximately $2.3 billion in assets. The firm invests in companies focused on therapeutic research and is committed to actively collaborating with entrepreneurs at every stage of company development. From drug development and regulatory processes to corporate formation and public listings, Sofinnova strives to serve as an empowering board member and a strong partner at all levels. Dedicated to building world-class companies, Sofinnova aims to significantly improve current healthcare standards and, ultimately, enhance patients’ lives.

Sequoia Capital has always been committed to helping entrepreneurs build enduring, great companies by bringing abundant global resources and valuable historical experience to its portfolio companies. Over the past 49 years, Sequoia Capital has invested in numerous innovative enterprises and leaders shaping industry trends. As “entrepreneurs behind entrepreneurs,” Sequoia China focuses on investment opportunities in three key sectors: technology/media, healthcare, and consumer goods/services. Over the past 16 years, Sequoia China has invested in nearly 600 companies characterized by distinct technological advantages, innovative business models, and high growth potential.

OrbiMed is dedicated to identifying and supporting biopharmaceutical and life sciences companies that advance human health. With over $16 billion in assets under management, OrbiMed has specialized in global healthcare investments for more than two decades. Its investment portfolio spans biopharmaceuticals, life sciences technologies, medical devices, healthcare services, and diagnostics, covering stages from early-stage startups and growth-phase companies to mature enterprises and post-IPO entities. The investment team comprises more than 80 distinguished professionals worldwide, with expertise in life sciences, medicine, finance, and law.

Sherpa was founded in 2018. Its founders previously worked together at a leading Chinese venture capital firm, where they established and led the healthcare investment team in 2011, overseeing healthcare investments and managing healthcare funds. United in purpose and resilient through challenges, the Sherpa team has emerged as an influential venture capital institution in China’s healthcare sector, investing in numerous industry leaders across key segments such as life sciences, pharmaceuticals, medical devices and diagnostics, and healthcare services. Honing our craft over a decade—from 2011 to 2020—we navigated four fund vintages and evaluated more than 100 healthcare projects, privileged to partner with and grow alongside many outstanding entrepreneurs.

Cormorant Asset Management (“Cormorant”) is a biotechnology-focused investment firm established in 2013 and headquartered in Boston, Massachusetts. Since its inception, Cormorant has established itself as a leading crossover investor for companies pursuing initial public offerings (IPOs) and as a long-term investor in early-stage enterprises. The firm’s investment activities are led by its founder, Bihua Chen, who brought 15 years of successful investment experience in the healthcare sector to the establishment of Cormorant.

HBM Healthcare Investments, established in 2001, is dedicated to investments in the healthcare sector. The company’s international portfolio comprises promising global companies in human medicine, biotechnology, medical technology, diagnostics, and related fields. Many of its portfolio companies have their core products already on the market or in late-stage development, with their strategic directions being closely monitored and actively guided. This makes HBM Healthcare Investments an alternative investment option for large pharmaceutical and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on the SIX Swiss Exchange (ticker symbol: HBMN).

Dingfeng Life Sciences Capital is a subsidiary of Nantong Life Science Group Limited (“Nantong Life Science”), the global life sciences investment arm under Hong Kong’s Nan Fung Group. Dedicated to sourcing innovative products and technologies worldwide, Dingfeng Life Sciences Capital aims to establish a portfolio of leading biopharmaceutical companies in Greater China to meet the growing healthcare demands of the global market, particularly in China. Its investment scope spans multiple related sectors, including biopharmaceuticals, medical devices, and healthcare services. The team at Dingfeng Life Sciences Capital comprises experienced life sciences investors and entrepreneurs with extensive industry expertise in company creation and venture capital.

Logos Capital is a foundational investment partnership focused on biotechnology, combining scientific and financial expertise with in-house clinical trial analysis to identify transformative therapies in healthcare. Headquartered in San Francisco, it leverages specialized knowledge in medicine, science, and statistics to uncover significant investment themes and opportunities.

TOTAL AMPLE LIMITED manages the Guoxin Guoxin Dongwu Overseas Fund, focusing on investments in healthcare, high-end equipment manufacturing, and TMT. Key portfolio companies in TOTAL AMPLE LIMITED’s healthcare sector include Innovent Biologics, Akeso, Tigermed, RemeGen, MicroPort CardioFlow Medtech, Antengene, and Grail.

Forward-Looking Statements

This press release contains forward-looking statements regarding the Company’s future developments, which involve expected outcomes subject to risks and uncertainties. These statements are based on VISEN’s assumptions and estimates and are subject to risks and uncertainties. All information in this press release is current only as of the date of its release. VISEN hereby declares that it has no obligation to publicly update or revise any forward-looking statements in this press release due to new information, future events, or other circumstances.