PTM BIO Secures RMB 530 Million Series B Funding to Advance Proteomics-Driven Precision Medicine
VCBeat (WeChat ID: vcbeat) has learned that on November 12, 2020, Hangzhou Jingjie Biotechnology Co., Ltd., a leader in the development and application of proteomics technologies, announced the completion of its Series B financing round amounting to RMB 530 million.
This marks Jingjie Bio’s second round of financing, following its initial funding round earlier this year, which was led by SDIC Venture Capital with participation from Boyuan Capital. The current round was led by IDG Capital, with participation from prominent investors including Dachen Capital, Honghui Capital, and Suzhou Longmen Venture Capital. SDIC Venture Capital, the lead investor in the previous round, also participated in this round, demonstrating its continued support for the company’s growth. Backed by both large-tier-one funds and renowned biopharmaceutical-focused specialized funds, this financing will further accelerate Jingjie Bio’s development of new business lines, market expansion, and team optimization.
Yang Fei, Partner at IDG Capital, the lead investor in this Series B round, stated, “Proteins are core molecules in life processes. The analysis of protein molecules in biological samples is central to understanding, diagnosing, and treating diseases, representing the true ‘precision’ of precision medicine. Jingjie Bio possesses world-class R&D platforms and teams, positioning itself at the forefront internationally in areas such as high-performance mass spectrometry-based proteomics analysis and high-quality antibody development. Furthermore, by integrating massive proteomics datasets with artificial intelligence analytics, Jingjie Bio has pioneered a novel pathway for precise disease diagnosis and treatment. As the lead investor in this financing round, IDG Capital will support Jingjie Bio in maintaining its leadership in proteomics-driven precision medicine.”
Wan Jin, Investment Director at SDIC Innovation Investment, stated, “Proteomics is a core technology in the life sciences, with extensive applications across various fields. It holds strong promise for clinical diagnosis of major diseases such as cancer and for new drug development. Leveraging its world-class scientific team and R&D capabilities, Jingjie Bio is the only proteomics company selected for the key R&D programs supported by the National Health and Family Planning Commission and the Ministry of Science and Technology. As the lead investor in Jingjie Bio’s Series A round, SDIC Innovation Investment has continued to increase its support in this round, enabling Jingjie to sustain its R&D investments and expand into new business lines, thereby establishing itself as a platform-driven leader in precision medicine. We are delighted to witness Jingjie’s rapid growth and look forward to its promising future.”
Dr. Cheng Zhongyi, CEO of Jingjie Bio, stated, “2020 was an extraordinary year. The COVID-19 pandemic raged globally, severely impacting economies worldwide. Despite this challenging environment, Jingjie Bio achieved counter-trend growth and successfully completed two rounds of financing totaling RMB 660 million within less than a year, fully demonstrating investors’ strong recognition of Jingjie’s value. The completion of this financing will strongly support our continued investment in the field of proteomics-driven precision medicine. We look forward to working with all our investors to provide higher-quality services and create greater value for our customers, thereby better realizing Jingjie’s vision as a leader in the development and application of proteomics technologies and advancing proteomics-driven precision medicine into its next exciting phase.”
PTM BIO is China’s leading and most innovative pioneer in the application and development of proteomics technologies. Grounded in the cutting-edge scientific field of “proteomics for precision medicine,” the company has established an integrated business model encompassing R&D, manufacturing, and services. It has built China’s largest “Integrated Proteomics Platform,” which includes a proteomics technology platform, an epigenetics technology platform, a biomarker discovery platform, a high-quality antibody development platform, a diagnostic kit platform, and a big data analytics platform. Founded in December 2010, PTM BIO is headquartered in Hangzhou, with a subsidiary in Chicago, USA.
IDG Capital pioneered venture capital investment in China in 1993. Over nearly three decades of development, IDG Capital has remained committed to long-term value investing, with total assets under management amounting to approximately RMB 150 billion. The firm has invested in more than 1,000 outstanding companies worldwide, over 200 of which have successfully exited. IDG Capital focuses on leading enterprises in sectors such as Technology, Media, and Telecom (TMT), new consumption and services, culture and entertainment, healthcare, advanced manufacturing, and clean energy. Its investment scope covers all stages, including early-stage, growth-stage, mature-stage, as well as mergers, acquisitions, and restructurings. Notable portfolio companies in China include Tencent, Baidu, Pinduoduo, iQIYI, Meituan, Meitu, Xiaomi, SenseTime, Bilibili, Trip.com, MGI Tech, Andon Health, Ping An Good Doctor, GenEdits, HighChrom Biotech, BioMap, ZhenGe Biotechnology, Kunlun MedCloud, and AccutarBio.
SDIC Venture Capital, established in 2016, is a private equity fund management company specially set up by China Development & Investment Corporation (SDIC) in accordance with market-oriented principles. It was founded to implement the national innovation-driven development strategy, deepen comprehensive strategic cooperation with the Ministry of Science and Technology, and accelerate the transfer and commercialization of national scientific and technological achievements. Through platforms such as the National Science and Technology Major Project Achievement Transformation Fund, the SDIC Beijing-Tianjin-Hebei Scientific and Technological Achievement Transformation Fund, the SDIC High-Tech (Shenzhen) Venture Capital Fund, and the SDIC (Ningbo) Scientific and Technological Achievement Transformation Fund, SDIC Venture Capital consistently focuses on investment goals related to the commercialization of scientific and technological achievements. It targets key sectors including advanced manufacturing, electronic information, biopharmaceuticals, and materials and energy, while aligning with national regional development strategies in the Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area. The firm continuously promotes breakthroughs in independent innovation of core key technologies and strives to build a robust investment ecosystem for the transformation of scientific and technological achievements.
Boyuan Capital, established in 2017, is a specialized investment firm dedicated to investing in and incubating outstanding Chinese healthcare startups. Its founders and team members hail from healthcare startups, leading domestic biotechnology companies, multinational pharmaceutical corporations, and renowned professional service firms in the healthcare sector. They possess extensive experience in entrepreneurship, R&D, operations, and investment within the healthcare industry, backed by deep industrial resources and rich sector expertise.
Fortune Capital was established on April 19, 2000, with its headquarters in Shenzhen. It is one of the first domestic venture capital firms in China to operate under market-oriented mechanisms. Since its inception, alongside China’s rapid economic growth and the continuous improvement of its multi-tiered capital market, and with the care and support from all sectors of society, Fortune Capital has focused on fields such as information technology, intelligent manufacturing, healthcare, mass consumption and enterprise services, and defense industry. It has grown into one of the largest, most capable, and most influential venture capital institutions in China today. The firm has been elected as a vice-chairman unit of several professional associations, including the Equity and Venture Capital Professional Committee of the Investment Association of China, the Asset Management Association of China (AMAC) – Private Equity Fund Branch, Shenzhen Private Equity Industry Association, Shenzhen Venture Capital Association, Shenzhen Investment Fund Association, and Shenzhen Entrepreneurs Confederation.From 2001 to 2020, the company was consecutively ranked among the “Top 50 Best Venture Capital Firms in China” by Zero2IPO Group, an authoritative industry ranking institution, for 20 consecutive years. It ranked first nationwide in 2012 and 2015, and has consistently remained among the top three domestic venture capital firms over the past decade. To date, Fortune Capital manages funds with a total scale of approximately RMB 30 billion, has invested in more than 550 companies, successfully exited from over 180 investments, among which 104 companies have gone public.
Honghui Capital (HLC) is an investment firm focused on the “Healthy Living” sector, dedicated to serving leading enterprises that provide technological products and differentiated services for human disease diagnosis and treatment as well as healthy living. HLC has conducted in-depth research and practice in the fields of bioengineering, medical devices, diagnostic equipment, personal care, and healthcare. The firm manages dual-currency funds in RMB and USD, with total assets under management exceeding RMB 10 billion. Its portfolio includes high-quality companies such as Mindray Medical, WuXi AppTec, Tigermed Pharmaron, Porton Pharma, Yuwell Medical, United Imaging Healthcare, BrightGene Biosciences, ZENTALIS, Genetron Health, Kintor Pharmaceutical, Sansure Biotech, Joinn Laboratories, Keming Diagnostics, SMOLTECH, Xingyunhui, BEABA, Nayuki’s Tea, and Soocas.
Suzhou Longmen Venture Capital is an emerging investment fund focused on “innovative drugs and innovative medical devices,” with the vision of “helping Chinese pharmaceutical innovation enterprises go global and give back to society.” The core team members possess over 25 years of industry experience and have led investments totaling tens of billions of yuan. Suzhou Longmen Venture Capital has invested in multiple high-quality companies, including Borui Medicine (688166), Changfeng Pharmaceutical, Haichuang Pharmaceutical, Yusen New Drug, and Bonokangyuan.