Primis Bio Announces Completion of Series C Financing Led by Lianxin Capital

Recently, Biotheus Inc., a portfolio company of Hehong Capital, announced the completion of its Series C financing round. The round was led by Shanghai New Alliance Investment Management Ltd., with participation from new investor Hanyi Capital and existing investors Hehong Capital, Shiyu Capital, and Huajin (Tianjin) Investment Management Co., Ltd.

Biotheus, established in 2018, has built a product pipeline comprising more than 10 Class I novel biologics approved by China’s National Medical Products Administration (NMPA), including monoclonal and bispecific antibodies, with therapeutic areas covering oncology and metabolic diseases. According to its pipeline development plan, Biotheus is expected to have five innovative drugs enter clinical trials by the end of 2021. Meanwhile, as it advances its pipeline, Biotheus will actively pursue strategic collaborations across multiple fronts to accelerate the development of its novel therapeutics.

“Over the past two years, with the support of investors and local governments, and through the concerted efforts of our team, Biotheus has made smooth progress in product development, enhancement of R&D facilities, and team building, successfully achieving all established targets,” said Mr. Liu Xiaolin, President of Biotheus. “We are delighted that the company’s achievements and growth potential have been recognized by new investors such as New Alliance Capital. We have completed three rounds of financing to date, with this round being the largest in amount. All funds raised will be used to support the development of our novel drug products and corporate operations.”

Ms. Jiang Yanye, spokesperson for Honghui Capital, stated, “We have been closely monitoring and supporting Biotheus since its early startup phase. We are delighted and gratified by the achievements Biotheus has made over the past two years. Moving forward, we will continue to spare no effort in providing support and assistance, growing together with Biotheus.”