Zhongsheng Kangyuan Completes Series A Funding Round, Leading the Neoantigen-based Cancer Vaccine Sector

VCBeat (WeChat ID: vcbeat) recently learned that Zhongsheng Kangyuan, a pioneer in the industrialization of tumor neoantigen vaccines, has announced the completion of its Series A financing round, led byLed by the Healthcare & Biotech Fund under Hangzhou Hemeng Venture Capital, with co-investment from Sichuan Development Group’s Hongke Fund, Leimeiruisi Capital, and Gongqingcheng Pengbo Investment; Probe Capital served as the financial advisor.。

Dr. Cheng Xudong, founder of Zhongsheng Kangyuan, told VCBeat that since its establishment in 2018, the company has completed three rounds of equity financing, securing nearly RMB 100 million in investment from several well-known venture capital firms in China. The funds raised in this round will be primarily used to: upgrade and iterate the company’s existing technology platform to achieve precise, rapid, and fully automated identification of tumor neoantigens; support investigator-initiated trials (IITs) for multiple product pipelines; and continue to expand the team by recruiting high-end R&D and management talent.

Zhongsheng Kangyuan is a pioneer in the pharmaceutical development and regulatory filing of tumor immunotherapy cell products. The company boasts a leading core technology platform, a first-class team of technical and management experts, and a powerful scientific advisory board that includes Nobel laureates. Zhongsheng Kangyuan holds an industry-leading position in several key areas, including tumor neoantigen identification systems, automated GMP-compliant manufacturing processes for immune cells, Chemistry, Manufacturing, and Controls (CMC) quality management systems for immune cell production, and companion diagnostics for clinical research.

Zhongsheng Kangyuan possesses unique technological advantages in the field of next-generation cancer vaccines:

On the one hand, Zhongsheng Kangyuan is one of the few companies in the industry that possesses an independent intellectual property rights-based system for the precise prediction and identification of tumor neoantigens, and has independently developed a tumor neoantigen library at the million-sample level.

On the other hand, through collaboration with international giants, Zhongsheng Kangyuan has pioneered the fully automated preparation and quality control of dendritic cell (DC) therapies in China. Its production platform supports end-to-end automation—from raw material processing and cell culture to quality and functional testing, as well as final product release—eliminating reliance on manual operations. This advancement not only enhances the quality and batch-to-batch consistency of the final immune cell products but also enables seamless monitoring throughout the entire production lifecycle and full traceability of all processes, providing a robust technological foundation for regulatory filings of next-generation cell-based pharmaceutical products.

Finally, Zhongsheng Kangyuan has partnered with Peking University and the Chinese Academy of Sciences to establish a world-class clinical monitoring system for immunotherapy. By performing continuous, multi-time-point micro-sampling of peripheral blood before, during, and after immunotherapy, the system enables precise monitoring of dynamic changes in dozens of immune cell subsets and cytokines, thereby accurately assessing patients’ responses to immunotherapy.

Leveraging its core technology platforms, Zhongsheng Kangyuan is comprehensively advancing Investigator-Initiated Trials (IITs) of its flagship products in China and the United States. The company has accumulated a substantial body of clinical data, which preliminarily validates the safety and tolerability of its personalized dendritic cell (DC) vaccines and personalized T-cell therapeutics, as well as their capacity to break immune tolerance in solid tumors and precisely target and eliminate solid tumor lesions.

Zhongsheng Kangyuan is committed to becoming the leader in China’s therapeutic cancer vaccine industry. Leveraging its robust R&D and manufacturing capabilities, the company builds dual barriers in technology and industry, forms industrial alliances with upstream and downstream enterprises, leads the industry chain, and accelerates the regulatory approval and market launch of personalized immune cell therapy products in China.

Regarding the Series A funding, the founderDr. Cheng XudongThe company stated that this achievement is attributable to the favorable macro environment for immunotherapy in solid tumors, as well as Zhongsheng Kangyuan’s robust exploratory and R&D capabilities in tumor immunotherapy. “In recent years, immune cell therapies targeting solid tumors have gained significant momentum globally, attracting not only substantial interest from the investment community but also strong support from national policies. In terms of key indicators—such as the reliability and stability of our core platform, the progress and data quality of clinical studies, and the pace of innovative drug registration applications—Zhongsheng Kangyuan’s next-generation personalized tumor immune cell products are on par with any domestic competitor. This competitive edge has earned us recognition and sustained capital injection from renowned institutions such as Trinity Capital, Huachuang Capital, and Beijing Capital Development Group.”

Lead Investor of This Funding RoundDr. Yi, Partner at Hemeng Venture CapitalStatement: The Company’s dendritic cell (DC) therapeutic cancer vaccines and T-cell products feature well-understood mechanisms of action, have demonstrated favorable safety profiles and preliminary efficacy, and are highly likely to represent one of the disruptive approaches in immune cell therapy for solid tumors. When used in combination with other cancer therapies, DC cancer vaccines can effectively overcome immunosuppression within the tumor microenvironment, enhance antigen presentation, and improve overall therapeutic outcomes, holding promise as a foundational treatment modality. Zhongsheng Kangyuan possesses core technologies in several areas, including neoantigen prediction and identification, as well as the efficient, cost-effective, pharmaceutical-grade manufacturing of autologous DCs and T cells. This round of investment aims to help the Company reach a new level of development and achieve its expected outcomes.

Investors in This RoundMr. Liu Jun, Chairman of Hongke Fund under Sichuan Development GroupZhongsheng Kangyuan possesses industry-leading core technologies in various areas, including the precise prediction and identification of tumor neoantigens, as well as pharmaceutical-grade manufacturing processes for high-quality, cost-effective autologous immune cells. The personalized cancer vaccine products developed by Zhongsheng Kangyuan have initially demonstrated favorable safety profiles and clinical efficacy. When used in combination with the PD-1 antibody therapy, these vaccines can effectively overcome immunosuppression within the tumor microenvironment, supported by a clearly defined mechanism of action. We aim to accelerate the company’s clinical research progress and support its ongoing Investigational New Drug (IND) applications for personalized cancer vaccines through additional capital and resource infusion, thereby facilitating the timely market entry of this innovative cellular therapy to benefit a broad population of patients with malignant solid tumors. Hongke Fund will accompany Zhongsheng Kangyuan throughout its growth journey, providing continuous empowerment to drive the company’s rapid development.

Investors in This RoundZhang Lei, Chairman of Hillhouse CapitalStatement: Predicting tumor neoantigens is currently a relatively ideal approach to addressing the heterogeneity of MHC-non-deficient tumor mutations. We have also observed significant clinical progress in this area, which is why we are actively positioning ourselves in this sector. Zhongsheng Kangyuan boasts a robust neoantigen prediction algorithm system, flexible CMC processes for scalable production, abundant clinical resources, and a highly executive core team. Based on Zhongsheng Kangyuan’s existing data and project milestones, we are confident in its future prospects and are honored to participate in this round of financing.

Financial Advisor for This Round of FinancingZhang Fang, Executive Director of Tan Zhen CapitalIntroduction: Owing to its favorable safety profile and significant therapeutic efficacy, cancer immunotherapy has gradually emerged as a key direction for future oncology treatment. In contrast to popular approaches such as immune checkpoint inhibitors and cellular immunotherapies, the tumor vaccine sector in China has seen limited participation from domestic enterprises. As a leading company in China’s tumor vaccine landscape, Zhongsheng Kangyuan leverages its technological strengths to maintain a competitive edge in the field of next-generation dendritic cell (DC) vaccines based on tumor neoantigens. The company not only holds core technologies for neoantigen prediction and identification but also actively develops an integrated industry chain. By collaborating with major domestic and international industry players, Zhongsheng Kangyuan has established pathways for automated and miniaturized cell production and has taken the lead in initiating Investigational New Drug (IND) applications for next-generation personalized cancer vaccines in China. Throughout its development, the company has attracted significant interest from numerous investment institutions within the industry. With the successful completion of this financing round, Zhongsheng Kangyuan is poised to further solidify its leading position in the sector.

As the venture capital platform under Zhejiang Hemeng Investment Group, with its headquarters in Hangzhou, it boasts 18 years of experience in venture capital. Its funds are primarily engaged in investments in biomedicine, mobile internet, and private equity (PE).

Sichuan Development (Holdings) Co., Ltd. is the only state-owned capital operating company in Sichuan Province that integrates three core functions: financial holding, industrial investment leadership, and enterprise reform and development. Its consolidated total assets exceed RMB 1 trillion. The Group’s Hongke Fund focuses on venture capital investments in technology sectors such as biopharmaceuticals and electronic information, with assets under management exceeding RMB 2 billion. It has successfully invested in dozens of high-tech startups, including Haichuang Pharmaceutical, Kaiyue Life, Xinglian Xintong, and Huishi Optoelectronics.

Leimeris Capital was established in 2016, focusing on value investment in the fields of biomedicine, semiconductors, and consumer sectors. The company is dedicated to identifying small and medium-sized enterprises with potential commercial value and high growth prospects, as well as growth-oriented companies with clear expectations for going public. Leimeris Capital aims to be a long-term partner for businesses, continuously providing assistance and support to accompany their growth.

As a venture capital and private equity fund manager, Gongqingcheng Pengbo Investment focuses on equity investments in the big health, informatization, and intelligent manufacturing sectors, with successful investments in multiple projects including Joinn Laboratories, Tinavi Medical Technologies, and Shanghai Gaoxian.