Bainian Yihao Secures RMB 150 Million Series A Funding to Advance Industrialization of University-Originated Drug Development Programs via Seven Technology Platforms

VCBeat (WeChat ID: biobeat1) has learned that Chengdu Bainian Yihao Pharmaceutical Technology Co., Ltd. has secured RMB 150 million in its Series A financing round, led by DT Capital Partners, Vcap Capital, Chengdu Biological Town, and Guangzhou Science & Technology Finance Group. The proceeds from this round will be primarily used to establish production facilities. It is reported that several well-known institutions have already committed to participating in the company’s next funding round.

Bainian Yihao, established in 2017, is positioned as an institution dedicated to the translation of innovative biomedical achievements and new drug R&D. It primarily focuses on the development of Class I new drugs, including immunotherapies such as CAR-T cell therapy and tumor vaccines, gene therapy, stem cell therapy, and small-molecule targeted drugs. Its production center, the Bainian Yihao Research Institute, was officially established in Chengdu Tianfu International Bio-town, Chengdu High-tech Zone, in January 2019.

Regarding the background of the project’s establishment, Yue Shuikai, Dean and General Manager of Bainian Yihao, stated that while universities possess numerous high-quality research projects, many may “die in the womb” due to the prohibitive time and financial costs associated with R&D, as well as a lack of experience in regulatory filings for innovative biologics. Bainian Yihao aims to create a model that facilitates the industrial translation of promising R&D projects, thereby reducing individual project development costs and maximizing resource utilization. In this process, the R&D team will contribute their scientific and technological achievements as intangible assets for equity valuation and serve as Chief Technology Officers (CTOs) of the technology pipeline companies, overseeing the entire R&D process.

To this end, Bainian Yihao has established an exclusive partnership with the State Key Laboratory of Biotherapy at Sichuan University, building seven technical pipelines. These include a CAR-T R&D Center (equipped with a complete CAR-T cell development chain from design to clinical application), a DC Vaccine R&D Center, a Stem Cell R&D Center, a Gene Vaccine R&D Center, a Bacterial Vaccine R&D Center, and an mRNA Vaccine R&D Center, providing a technological platform for project translation. Currently, more than 90 projects are involved.

Organizational Chart of the National Key Laboratory (Implemented)

According to Yue Shuikai, the national key laboratory has previously achieved the successful translation of 93 Class I new drugs, demonstrating its capability in industrial translation. Additionally, Bainian Yihao has constructed GMP-compliant facilities in Chengdu Tianfu International Bio-town and Wenjiang Bio-city in accordance with the latest domestic standards. These facilities cover a total area of approximately 8,000 square meters and are capable of supporting the mass production of final project outcomes.

It is reported that the production center is expected to become operational on August 30 this year, with 20 projects anticipated to enter pilot-scale trials. Additionally, clinical trial approvals are expected for approximately seven Class 1 new drugs this year and around 15 next year.

Yue Shuikai stated that, given the maturation of monoclonal antibody biologics in China and the significant lead held by foreign enterprises over Chinese companies, Bainian Yihao will not pursue monoclonal antibody drugs. Instead, it will focus on biologics and novel therapies such as gene and cell therapy, stem cell therapy, immunotherapy, and bacterial therapy.

He believes that in the field of biomedicine, China and developed countries in Europe and America are still in the early stages with a small gap between them. Through independent research and development, China can catch up with international trends, and now is the golden period for overtaking on a bend. In addition, policies are also promoting and guiding the biomedical industry, including the implementation of the policy allowing unprofitable biotech companies to list on the Hong Kong Stock Exchange, and the launch of the Science and Technology Innovation Board (STAR Market) serving technological innovation, all of which are igniting capital enthusiasm for biomedicine.

However, unlike typical new drug development projects—which require lengthy R&D cycles and substantial capital investment before yielding economic returns—Yue Shuakai stated that Baonian Yihao generates revenue at every stage of its R&D process. According to him, throughout the project’s development, high-quality assets are sold under varying circumstances, but only 80% of the equity is transferred, maintaining a close tie with the project. It is reported that orders for CAR-T and other projects under Baonian Yihao have reached RMB 180 million, with these interests transferred to two large listed pharmaceutical companies.

Meanwhile, Bainian Yihao is also exploring international expansion. Recently, the company appointed Zhou Pingshan, former President of Roche Pharmaceuticals Asia-Pacific, to its team as an Industrialization Consultant and Co-General Manager. On one hand, his insights into the development of the pharmaceutical industry both domestically and globally will help Bainian Yihao’s R&D projects better align with market demands; on the other hand, leveraging his global channels and network will assist the company in introducing high-quality overseas projects. It is reported that several mature foreign projects are currently undergoing multi-center R&D at Bainian Yihao.

Of course, undertaking such an extensive R&D pipeline inevitably entails significant financial risk. Yue Shuikai stated that although the current number of projects is larger than that of typical new drug development companies, all new drug projects are submitted to the Ethics Committee of West China Hospital for approval to conduct in-hospital studies. This approach allows for data accumulation to support future formal applications for clinical trial approvals, thereby predicting the likelihood of subsequent success and significantly reducing risks when the company applies for clinical trial approvals. Additionally, the company has established a sales team of 1,000 members to monitor CRO progress and mitigate risks through close coordination with clinical operations.

Finally, an introduction to the core team: Yue Wei, Founder and Chairman of Bainian Yihao, was one of the founding members of the listed company Yibai Pharmaceutical and later served as President of Tibet Rhodiola Pharmaceutical Holding Co., Ltd. Yue Shuikai, Dean/General Manager of Bainian Yihao, successively established the “Bainian Ju” brand series, including Bainian Rehabilitation, Bainian Jutou, Bainian Jushang, and Bainian Gaozhi. He has extensive experience in the sales and operations of OTC and prescription drugs and previously managed a £100 million fund invested in the R&D of new medical drugs. Dr. Wei Yuquan, Chief Scientific Advisor, is an Academician of the Chinese Academy of Sciences, former Vice President of Sichuan University, Director of the Clinical Oncology Center at West China Hospital, Director of the State Key Laboratory of Biotherapy at Sichuan University, Chairman of the Chinese Association of Biopharmaceutical Technology, and Head of the National Collaborative Innovation Center for Biotherapy. Dr. Wang Zhengpin, Chief Scientist, is the former Chief Scientist at North China Pharmaceutical Group and Shenwei Pharmaceutical, and the developer of the Huabei Brand Ganoderma Lucidum Green Tea Capsules.

It is understood that the company’s current industrialization team previously spearheaded the R&D and market launch of “Keke” and “Aidi Injection” at Yibai Pharmaceutical.

Reprinted from: 36Kr