BioInnovate Completes RMB 970 Million Series D+ Financing to Accelerate 'Thousand Mice, Ten Thousand Antibodies' Initiative

VCBeat (WeChat ID: vcbeat) has learned that Biocytogen (Beijing) Gene Biotechnology Co., Ltd. (“Biocytogen”) has announced the completion of a RMB 970 million Series D+ financing round. This marks another milestone following Biocytogen’s merger with YouHe Pharma in August this year.

Dr. Shen Yuelei, Chairman and CEO of Biocytogen, stated, “The funds raised in this round will strongly support the rapid implementation of the ‘Thousand Mice, Ten Thousand Antibodies’ initiative. As the initiative advances, Biocytogen will collaborate with numerous pharmaceutical R&D enterprises both domestically and internationally to accelerate the development and market launch of innovative drugs, thereby benefiting a broad patient population.”

“We extend our sincere gratitude to China Merchants Bank International, the lead investor in this round, as well as the participating investors SDIC Venture Capital, China Life Equity Investment, Bencao Capital, Cowin Capital, and Baifu Capital, for their continued trust in Biocytogen. Together, we are committed to establishing Biocytogen as a globally influential source of innovative drug discovery.”

Biocytogen is an international biotechnology company driven by innovative technologies for new drug development, committed to becoming a global source of novel therapeutics and dedicated to benefiting patients worldwide.

Leveraging its fully human antibody mouse platforms—RenMab, RenLite, and RenNano—which are independently developed and owned by Biocytogen with complete intellectual property rights, the company has organically integrated its single-cell antibody discovery technology platform, efficient gene-edited model development platform, large-scale animal model supply platform, rapid in vivo and in vitro pharmacodynamic evaluation platform, and robust clinical development capabilities. This integration has established a distinctive new drug R&D system that covers the entire drug development process. As the company strategically transforms into a biotech enterprise, it will focus more intensively on the research and development of innovative antibody drugs. With the implementation of its large-scale antibody drug R&D initiative, the “Thousand Mice, Ten Thousand Antibodies” program, Biocytogen will collaborate with global partners to jointly accelerate new drug development.

Biocytogen is headquartered in Beijing, with branches in Haimen (Jiangsu), Boston (USA), Shanghai, and other locations. Its wholly-owned subsidiary, Youhe Pharma, specializes in clinical development.