EOC Pharma Completes Nearly RMB 500 Million Series C Financing to Advance Oncology Pipeline; Life Capital Serves as Exclusive Financial Advisor

VCBeat (WeChat ID: vcbeat) has learned that Taizhou Yiteng Jingang Pharmaceutical Co., Ltd. (hereinafter referred to as “Yiteng Jingang” or the “Company”) announced that it recently completed a Series C financing round of nearly RMB 500 million. This round of financing was led byTigermed, along with its affiliated funds Taifu Capital and Yingke Capital, jointly led the investment，Hanyi Capital, Langma Peak Venture Capital, and others participated as co-investors. Life Capital served as the exclusive financial advisor for this round.

The funds from this round of financing will be primarily used forAccelerate the Clinical Development of Existing Pipeline Products. Yiteng Jingang is a company dedicated to the research and development of novel anti-tumor drugs, particularlyBreast Cancer and Gastric Cancer FieldsThe company. While independently developing products targeting novel targets, it also actively introduces clinical-stage oncology products from overseas and operates its own small-molecule oncology drug manufacturing facility.

Yiteng Pharmaceutical is currently building an integrated platform for the Chinese market, encompassing development, manufacturing, and commercialization, with the aim of bringing potential “first-in-class” and “best-in-class” new drugs to patients in China.

Yiteng Jingang has multiple products in clinical development: EOC103, a selective HDAC1 inhibitor, is undergoing Phase III clinical trials for breast cancer both domestically and internationally in collaboration with partners, and has been granted Breakthrough Therapy Designation by the U.S. FDA; EOC315 is a highly selective VEGFR inhibitor for which the company holds global rights. It is clinically positioned as a first-line treatment for advanced gastric cancer in combination with oxaliplatin and capecitabine, offering significant market potential; EOC202 is a recombinant LAG3 protein biologic intended for use in combination with chemotherapy for the treatment of breast cancer. LAG3 is hailed as the next generation of tumor immunotherapy following PD-1/PD-L1; EOC317 is a highly potent FGFR inhibitor indicated for various tumors, including gastric cancer and urothelial carcinoma, harboring FGFR mutations or gene amplifications.

Wen Baoying, Head of the Healthcare Sector at Life Capital, stated, “Congratulations to Yiteng Pharmaceutical (Thaizhou) Co., Ltd. on the completion of its Series C financing round, and congratulations to new shareholders such as Tigermed, Taifu, Yingke, and Hanying, as well as existing shareholders including Sequoia and Yuansheng. For innovative drug R&D companies operating under the license-in model, three capabilities are critical: 1) business development (BD) capabilities; 2) clinical development capabilities; and 3) commercialization capabilities. Yiteng possesses distinct advantages in all three areas and is a potential industry leader. We are honored to have participated in and facilitated this financing round throughout the entire process.”

Dr. Zou Xiaoming, CEO of Yiteng Jingang, stated, “Our strategy is to develop differentiated oncology products globally to transform the lives of patients worldwide. Leveraging our team’s unique background in R&D and commercialization in China, along with our localized manufacturing and development capabilities, we are able to deepen our presence amid China’s continuously optimizing clinical and regulatory environment and rapidly growing healthcare demands, thereby advancing innovation and local manufacturing capabilities. We extend our gratitude to top-tier funds such as Taifu Capital, Yingke Capital, Hanyi Capital, and Longma Peak Ventures, as well as to Life Capital for their support, which enables Yiteng Jingang to continue strengthening its efforts in the field of oncology treatment and benefit more patients.”

Qin Biao, General Manager of the Biopharmaceutical Division at Yingke Capital, stated, “We are honored to have the opportunity to participate in this round of investment in Yiteng Jingang. After several in-depth discussions with Dr. Zou, I was impressed by his forward-thinking insights into the Chinese pharmaceutical market, as well as his experience in project introduction and deep-development management. These qualities highlight Yiteng Jingang’s potential for future excellence. Yingke Capital has made significant investments in the pharmaceutical sector, and this investment in Yiteng Jingang represents a crucial step in our deeper engagement across the biopharmaceutical industry chain. We have always adhered to a ‘industry + capital’ dual-drive model. Empowering portfolio companies to accelerate their growth is Yingke’s consistent mission and reflects our commitment to supporting national industrial upgrading.”

Dr. Jin Fenyu of Hanyi Capital stated, “It is a great honor to participate in this round of investment in Yiteng Jingang. I have had the opportunity to communicate and collaborate with Dr. Zou during his tenure at Amgen and Yiteng Pharma, and I highly recognize his expertise and forward-looking insights in project introduction, as well as his thorough understanding of the Chinese oncology market. As a healthcare fund focused on resource-driven innovative drug investments, Hanyi Capital hopes to leverage its channel resources in business development and licensing through this investment to bring more high-quality asset options to Yiteng Jingang. This is also a key value-added post-investment service that Hanyi Capital is committed to providing.”

Mr. Xiao Jiancong, Founder of Longmaofeng Venture Capital, stated, “We are honored to participate in this round of investment in Yiteng Jingang. After multiple in-depth discussions with Dr. Zou, we strongly align with Yiteng Jingang’s business model and highly recognize Dr. Zou’s profound understanding of the Chinese oncology market as well as his experience in licensing-in and developing projects. As an investment fund focused on high-tech sectors, Longmaofeng Venture Capital will prioritize biopharmaceuticals as a key investment area in the future. Beyond providing financial support, Longmaofeng Venture Capital has established Longmaofeng University to help entrepreneurs achieve excellence in their management philosophy and practices—the ‘Way’ of business operations. We firmly believe that adhering to this ‘Way’ of management will ultimately lead to corporate greatness.”

Taifu Capital, established in November 2013, focuses on venture capital investments in the life sciences sector, primarily targeting high-potential early-stage and growth-stage companies. Through diversified and strategic positioning and by selecting high-quality partners, Taifu Capital aims to seize opportunities amidst the rapid development of China’s life sciences industry. The investment team brings years of experience and extensive industry resources in these fields, with the goal of achieving rapid growth alongside its portfolio companies.

Yingke Capital, established in 2010, is an equity investment firm specializing in Pre-IPO stage investments. In 2014, it became one of the first institutions to be registered with the Asset Management Association of China (AMAC). Since 2015, Yingke Capital has allocated one-third of its projects and over RMB 5 billion in capital to the biopharmaceutical sector. It has invested in nearly 60 biopharmaceutical companies, including Haihe Biopharma, Genor Biopharma, Kanghua Biological, Zeltex Pharmaceuticals, Sanyou Medical, and Hanyu Medical. Its investment portfolio spans multiple fields, such as innovative drugs, disease diagnosis and treatment, medical devices, and healthcare services.

Hanyi Capital, founded in early 2017, is a professional private equity investment fund focused on growth-stage investments in the healthcare industry within Greater China. Historically, the partner team has invested in more than ten companies in China’s healthcare sector, with cumulative investments exceeding USD 330 million, playing a pivotal role in their growth. Multiple portfolio companies have successfully listed in mainland China, the United States, Hong Kong, and Taiwan, with a combined market capitalization surpassing USD 6.2 billion. Notable successful cases from the partner team include Haili Bio (SH: 603718), HEC Pharm (HK: 1558), Zai Lab (NASDAQ: ZLAB), Sino Medical Sciences Technology (688108), MicroPort Endovascular MedTech (688016), and Shulan Healthcare.

Langma Peak Ventures focuses on venture capital investment in high-tech sectors, having cumulatively invested in over 140 companies. In 2018, Langma Peak Ventures was honored as one of the “Top 10 Most Active Private Equity Investment Firms of the Year” and one of the “Top 50 Best Venture Capital Firms in China.” Past investment cases in the pharmaceutical and healthcare sector include Vazyme, Jinkui Medical, Huamai Taico, Purui Eye Hospital, LinkCare, Baichen Medical, and Pintai Technology.

Life Capital is a leading boutique investment bank in China, specializing in the life sciences and healthcare sectors. Its team members hail from renowned investment banks, academic institutions, and healthcare enterprises, bringing decades of accumulated expertise in healthcare and investment financing. Over the past three years, the team has completed dozens of financing and M&A transactions in the healthcare industry, with a cumulative value reaching billions of RMB. These deals span various healthcare subsectors, including new drug R&D, medical devices, diagnostics, healthcare services, and smart healthcare.

In the field of new drug development, the team has completed several industry-benchmark cases with a cumulative transaction value exceeding RMB 2 billion, including Sinocelltech’s nearly RMB 600 million Pre-IPO financing, Antengene’s USD 120 million Series B financing, and IASO Biotherapeutics’ Series C financing of over RMB 100 million.