Sorbon Biopharma Secures Nearly RMB 300 Million in Series D Financing, Backed by Top-Tier Investors Ahead of IPO Filing

On December 8, 2020, following the completion of its nearly RMB 600 million Series C financing in the first half of the year, Suoyuan Biomedicine, a leader in precision medicine, announced that it had just completed a Series D financing round of nearly RMB 300 million. The round was co-led by CICC Qide Fund and Yinke Capital, with new investors including China Resources Pharmaceutical Industry Investment Fund, Paradise Silicon Valley, Heda Biopharmaceutical Fund, and Hangzhou Industrial Asset Management joining the shareholder base. Existing shareholders, including Xiantong Capital, Houxin Jian tou, and Zheshang Industry-Finance Integration, also participated.

Suoyuan Biomedicine is an international enterprise dedicated to developing first-in-class novel drugs through a rapid and efficient, unique model. The company currently has seven products (DB102–DB108) in late-stage clinical development for oncology and psychiatric disorders, all of which are first-in-class or Class 1 new drugs. Among them, the international multicenter Phase III clinical trial of DB102 (enzastaurin) as first-line treatment for diffuse large B-cell lymphoma (DLBCL), known as the ENGINE study, has completed enrollment of all patients. The international multicenter Phase III clinical trial of DB102 for newly diagnosed glioblastoma multiforme (GBM), known as the ENGAGE study, has also received approval from the U.S. Food and Drug Administration (FDA) and China’s National Medical Products Administration (NMPA), and has been fully launched in both the United States and China. In July this year, based on promising efficacy observed in early clinical data among DGM1-positive patients receiving high-dose DB102, the FDA granted Fast Track designation to DB102 for the first-line treatment of GBM.

Dr. Luo Wen, Chairman of Suoyuan Biomedicine, stated, “After years of accumulation since its establishment, Suoyuan Biomedicine has entered a phase of explosive growth. In the field of oncology, the company has two international Phase III clinical trials underway and has implemented a hierarchical layout for first- and second-line treatments in glioblastoma multiforme (GBM). In the field of mental disorders, DB103, targeting the novel glutamate 2/3 receptor, has three clinical trials ongoing in China and the United States. Additionally, early this year, a biomarker was identified for DB104 in the treatment of refractory depression. Currently, Suoyuan Biomedicine’s rich product pipeline and platform applications have expanded from small molecules to gene therapy and large-molecule biologics. This round of financing will strengthen core platform technology upgrades, advance clinical projects, expand the overall team, and facilitate the introduction of new pipeline assets, thereby providing additional momentum for Suoyuan’s development.”

Chen Jizheng, Chief Financial Officer of Suoyuan Biomedicine, stated, “We are delighted to have completed our Series C and Series D financing rounds successively this year. This financing represents a significant milestone for Suoyuan Biomedicine. In addition to securing continued support from top-tier industry investors, we have successfully introduced China Resources Pharmaceutical Group as a strategic investor. This achievement reflects the industry’s strong recognition of our cutting-edge core technologies, first-in-class drug pipeline, global market orientation, and highly mature unique business model, and it lays a solid foundation for our future business development in China. We deeply appreciate the trust and expectations of our shareholders, and we believe that subsequent capital initiatives will accelerate the R&D of our pipeline and facilitate the timely launch of new products to benefit patients worldwide.”

Suoyuan Biomedicine is a leading precision medicine company that develops novel Class 1 drugs through a rapid and efficient model. The company licenses new drug candidates from major international pharmaceutical companies—candidates that have demonstrated safety in late-stage clinical trials and shown efficacy in subsets of patients. Leveraging its proprietary biomarker platform technology, Suoyuan Biomedicine identifies predictive biomarkers from residual clinical samples. By using these newly discovered biomarkers as companion diagnostics to screen patients, the company can re-initiate clinical trials in sensitive patient populations, thereby optimizing efficacy, safety, and tolerability. This approach increases the success rate of new drug development, achieving the goal of developing innovative drugs at lower costs and in shorter timeframes.Suoyuan Biomedicine currently has six products developed to late-stage clinical trials: DB102, DB103, DB104, DB105, DB106, DB107, and DB108. All are either global First-in-Class drugs or novel Class 1 drugs. Specifically:- DB102 (enzastaurin), originally developed by Eli Lilly and Company, is indicated for the treatment of previously untreated high-risk diffuse large B-cell lymphoma (DLBCL) and glioblastoma multiforme (GBM).- DB103 (pomaglumetad), originally developed by Eli Lilly and Company, is indicated for the treatment of schizophrenia.- DB104 (liafensine), originally developed by ARMI/Bristol Myers Squibb (BMS), is indicated for the treatment of depression.- DB105, originally developed by Orion Corporation of Finland, is indicated for the treatment of Alzheimer’s disease.- DB106, originally developed by Sunesis Pharmaceuticals of the United States, is indicated for the treatment of acute myeloid leukemia (AML).- DB107, originally developed by Tocagen Inc. of the United States, is indicated for the treatment of recurrent high-grade gliomas.- DB108, originally developed by WuZhong Pharmaceutical of China, is indicated for the treatment of non-small cell lung cancer (NSCLC).