Primis Bio Announces Over RMB 100 Million Pre-A Financing to Accelerate Novel Drug Development

June 26 News: Biotheus Inc. (hereinafter referred to as “Biotheus”) announced that it has recently completed a Pre-A financing round of over RMB 100 million. The round was led by Shiyu Capital, with Huaying Fund participating as a co-investor. This marks Biotheus’s second round of financing, following its angel round in 2018, which was jointly invested by Huaying Fund, Zhuhai High-Tech Innovation Venture Capital, and Honghui Capital.

Biotheus Inc., founded in 2018, is a pharmaceutical company dedicated to the development of novel biologic drugs. It focuses on treating oncology and metabolic diseases with complex mechanisms, developing “me-better” biologics targeting known pathways and “first-in-class” innovative biologics targeting entirely new pathways. Led by Mr. Liu Xiaolin, the founding team possesses extensive experience in new drug R&D and industrialization within the biopharmaceutical sector. Team members have previously held R&D and management positions at renowned domestic and international biopharmaceutical companies, including Abbott, Bristol-Myers Squibb, Novartis, WuXi AppTec, Yangtze River Pharmaceutical Group, and Innovent Biologics. They have collectively participated in over 40 new drug development projects, multiple of which have received marketing approval from the U.S. Food and Drug Administration (FDA) and the China Food and Drug Administration (CFDA).

Biotheus possesses a proprietary antibody discovery platform along with bispecific and multispecific antibody engineering platforms, enabling the modulation of the tumor microenvironment while blocking immunosuppression. Compared with existing cancer immunotherapies, its candidates are expected to achieve enhanced distribution at tumor sites and superior penetration in solid tumors. The company is currently advancing more than 10 Class 1 novel biologic drug projects in China, including monoclonal antibodies and multispecific antibodies.

Regarding the successful completion of this financing round, Mr. Liu Xiaolin, President of Biotheus Inc., stated, “In just one year since its establishment, Biotheus has built multiple R&D platforms and developed a robust pipeline of novel drug candidates, assembled an experienced R&D team, secured substantial policy support from local governments, and established collaborations with numerous renowned domestic and international enterprises and research institutions. We sincerely appreciate the investors’ recognition of our achievements and future growth potential. The funds raised will be primarily allocated to the R&D of our novel drug projects and further enhancement of our product pipeline, accelerating the development progress of our new drug candidates and driving the company’s rapid growth.”

Yang Hongbing, Founding Partner and Chairman of Shiyu Capital, stated: “Biotheus focuses on the development of next-generation biologics centered on bispecific antibodies, with a flexible strategic layout and a robust pipeline. The core team possesses comprehensive capabilities in early-stage development, process optimization, biologic manufacturing, and commercial partnerships, bringing extensive experience in advancing multiple large-molecule drugs from early R&D to successful industrialization. In light of the history of antibody drug development in China and recent technological breakthroughs in the biologics sector, we are highly optimistic about the future of bispecific antibodies and continue to closely monitor leading global innovative technologies and outstanding teams.”

A representative from Huaying Fund stated, “We are delighted to witness the rapid development of Biotheus Inc. and remain fully committed to providing ongoing support to our outstanding portfolio companies. Since the beginning of this year, Biotheus has made smooth progress in advancing its R&D pipeline and building its team, which has further strengthened our confidence in its future. We believe that with the continued attention and investment in the health industry, particularly the biopharmaceutical sector, by core cities in the Greater Bay Area such as Hong Kong, Macao, and Zhuhai, more Chinese star enterprises with international competitiveness like Biotheus will emerge.”