Enzyme Innovation Biotech Secures RMB 50 Million Series B1 Funding to Advance Directed Evolution Platform for Industrial Enzymes

VCBeat (WeChat ID: vcbeat) has learned that Ningbo Enzymaster Bioengineering Co., Ltd. (hereinafter referred to as “Enzymaster”) announced the completion of its RMB 50 million Series B1 financing round,Led by Zhongke Haichuang, with follow-on investments from Leimeris and the existing investor Saisheng Capital (investing through “Caozhixing Venture Capital” in this round), Probe Capital served as the exclusive financial advisor. The funds raised are primarily used to advance the industrialization of collaborative products, and BioEngine^®Enhancement of Platform R&D Capabilities.

It is reported that this marks Enzymaster’s third round of financing. The company previously completed its angel round and Series A financing, each amounting to tens of millions of yuan, in 2014 and 2017, respectively.

Enzymaster is a biosynthesis company that provides comprehensive solutions for enzyme protein engineering and enzymatic catalytic synthesis. The company’s international founding team comprises seasoned industry experts with extensive experience in enzyme R&D, enzymatic process development, and industrial-scale production. Dr. Huang Yongkai, the founder, together with his team, has participated in the development of nearly one hundred enzymatic projects for pharmaceutical giants such as Merck and Novartis, filed 14 international patents, and has been deeply engaged in the enzymatic catalysis industry for over a decade.

Regarding the securing of this round of financing, Dr. Huang Yongkai responded: “Enzymaster possesses its own independent core BioEngine.”^®Our directed evolution technology platform enables the continuous development of new products, and our flexibility and scalability are highly valued by investors.

“We are in a highly promising sector,” added Dr. Huang Yongkai. “We operate in the fields of biosynthesis and biomanufacturing, where innovative biosynthetic solutions are needed across industries ranging from pharmaceuticals, health supplements, and agrochemicals to fragrances. In contrast, traditional chemical synthesis lacks sustainability, whereas enzyme catalysis offers a greener and more sustainable alternative. Furthermore, as key components of biological metabolic pathways, enzymes can enable diverse functions in biosynthesis.” The listing this year of Cathay Biotech (SH: 688065), known as the first publicly traded company dedicated to synthetic biology, further underscores the growth potential of this sector.

Currently, 90% of industrial processes on the market require the use of catalysts, most of which are metal- or organic compound-based catalysts such as palladium, nickel, molybdenum, and chromium. These often necessitate harsh reaction conditions involving high pressure and extreme temperatures, leading to severe environmental pollution. Therefore, enzymes, as green, sustainable, and highly efficient catalysts, represent the ideal choice for compound production processes.

However, biocatalysts, particularly wild-type enzymes, often suffer from performance limitations such as poor stability and insufficient activity, and are relatively restricted to catalyzing the conversion of substrates with natural structures. Therefore, to enable production at scale, it is essential to overcome the bottlenecks in enhancing enzymatic catalytic performance, thereby realizing the high-efficiency and green value of enzyme catalysis.

Directed evolution of enzymes can fundamentally resolve this dilemma. Directed evolution refers to the design, construction, modification, and production of proteins (enzymes) tailored to human needs by leveraging techniques such as genetic engineering and high-throughput screening. It is currently one of the most promising approaches for improving protein performance. Notably, Frances Arnold, one of the pioneers of enzyme directed evolution, was awarded the 2018 Nobel Prize in Chemistry for this work.

Enzymaster has achieved AI-assisted design with BioNavigator based on the theory of directed evolution.^®With BioEngine^®Integration of Directed Evolution with High-Throughput Experimental Platforms: Achieving Independent Technological Innovation and Development in China. This platform enables proteins to evolve in desired ways by simulating natural selection, thereby enhancing enzyme stability, activity, and specificity, and facilitating mild, green, and safe reaction processes.

Enzymaster's BioEngine^®Directed Evolution Platform

Dr. Huang Yongkai told VCBeat: “BioEngine^®“The platform is entirely built from the ground up by Enzymaster. Compared with traditional protein engineering, it can shorten the development cycle by more than 50% and achieve a success rate exceeding 90%. The platform’s efficiency enables each round of directed evolution to be completed in four to five weeks, on par with the international state-of-the-art.”

It is reported that Enzymaster has established a diverse portfolio of enzyme libraries, including ketoreductase, transaminase, hydrolase, and oxidase libraries. The company will screen for suitable starting enzymes by optimizing analytical methods and employ directed evolution techniques to improve their activity, selectivity, and stability as needed.

The establishment of the enzyme directed evolution platform is merely the first step; Enzymaster has also built an industrialized enzymatic platform to achieve scaled-up production of enzymes and the industrial application of enzyme-catalyzed processes. Currently, Enzymaster boasts a robust pipeline of collaborative products, with projects at various stages including proof-of-concept, R&D, pilot-scale testing, and full-scale production. The capacity of its partnered manufacturing network ranges from ten-ton to thousand-ton scales, demonstrating significant industrial value.

Dr. Huang Yongkai told VCBeat that during the two years between completing its Series A financing and closing its Series B1 round, Enzymaster had undergone multiple internal adjustments and upgrades.FirstIn terms of technological upgrades, the company has strengthened its capabilities in computational bioinformatics;II.The company has further enhanced its production and quality system capabilities for collaborator interfacing;ThirdThe company has gradually improved the development of its collaborative product pipeline;Furthermore,, the company has established a new subsidiary in Germany to help Enzymaster connect with international customers.

For the investment in Enzymaster, the lead investor of this roundZhongke Haichuang“Industrial upgrading will inevitably evolve from chemical catalysis to biocatalysis; this is an inevitable trend. Enzymaster has great potential.”

Co-investors in this roundZhang Lei, Chairman of LemaisIt stated: “From a macro perspective, the green development of the fine chemical industry is an inevitable future trend that aligns with national industrial policies. From a meso perspective, enzymatic processes offer distinct specificity advantages and significant cost benefits in the synthesis of chiral compounds; we believe that an increasing number of downstream customers will adopt this approach in the future. From a micro perspective, Enzymaster’s core team boasts extensive experience in internationally advanced R&D, features a well-rounded composition, and possesses rich expertise in product development and commercialization, positioning its product pipeline for substantial scale-up. Based on these factors, the company is optimistic about Enzymaster’s future prospects and stands firmly alongside Enzymaster.”

Existing InvestorsYang Lei, Investment Director at Saisheng Capital (Caozhixing Venture Capital)stated: “We began investing in the company during its angel round, as we were highly impressed by the team’s expertise in enzyme-catalyzed synthesis. We also believe that China will inevitably produce enterprises surpassing Codexis (NASDAQ: CDXS) in the United States, thereby empowering the Chinese biopharmaceutical industry and enabling domestic pharmaceutical manufacturers to achieve greener, more energy-efficient, and higher-efficiency production. This co-investment further reflects our confidence in the company’s future growth, as well as our support for and recognition of the founding team.”

Feng Lihui, Head of the Capital Markets Department at Tan Zhen CapitalEnzymaster stated: “Enzymaster possesses a world-class platform for the directed evolution of enzymes. Compared with traditional chemical synthesis, this approach significantly reduces costs, enhances efficiency, and meets environmental protection requirements, thereby advancing green industrialization. We are confident that Enzymaster will emerge as a leading enterprise in the field of synthetic biology.”

Zhongke Haichuang Fund is a venture capital sub-fund under the National Guide Fund for the Transformation of Scientific and Technological Achievements. With a scale of RMB 2 billion, it focuses on equity investments in high-tech fields, primarily targeting next-generation information technology, environmental protection and new energy, advanced manufacturing, healthcare, and new materials industries.

Leimeris Capital was established in 2016, focusing on value investment in the semiconductor, biopharmaceutical, and consumer sectors. The company is dedicated to identifying small and medium-sized enterprises with high growth potential and clear IPO prospects, as well as uncovering their latent commercial value. Committed to being a long-term partner, Leimeris Capital continuously provides support and assistance to accompany these enterprises throughout their growth journey.

Caozhixing was established in 2013, focusing on investments in early-to-mid-stage technological innovation fields such as intelligent manufacturing, artificial intelligence, environmental protection technology, bioengineering, and new materials. Its core team possesses years of venture capital experience, extensive industry resources and networks, as well as distinctive advantages and core competencies. Leveraging its professional ability to identify promising early-to-mid-stage tech enterprises and its persistent exploration and pursuit of technological innovation, Caozhixing Venture Capital has earned high recognition from partners and entrepreneurs. Adhering to the mission of “Focusing on Technological Innovation and Facilitating Enterprise Growth,” Caozhixing Venture Capital is committed to collaborating with more outstanding Chinese entrepreneurs, leveraging its rich professional expertise and industry resources to jointly drive the transformation and upgrading of the new economy.

Probe Capital, established in late 2017, is a boutique investment bank focused on the global healthcare and life sciences industries. It completes double-digit private equity financing and M&A transactions annually, consistently supporting scientists and entrepreneurs in the field as they grow. Leveraging extensive experience in the medical industry and diverse professional expertise, the Probe Capital team provides clients with efficient, comprehensive, full-cycle investment banking and advisory services. As of October 2020, Probe Capital had facilitated transactions totaling billions of RMB.