SinoMab BioScience Secures Hundreds of Millions RMB in Pre-IPO Financing Led by CICC Capital and Apricot Forest Capital, with China Renaissance as Exclusive Financial Advisor

VCBeat’s New Medicine (WeChat ID: biobeat1) has learned that SINOMAB BIOSCIENCE LIMITED (“SINOMAB”), a leading Chinese enterprise in the development of novel antibody-based drugs, has recently completed a Pre-IPO financing round amounting to hundreds of millions of RMB. The round was co-led by funds managed by CICC Zhide Platform (“CICC Zhide”), an affiliate of CICC Capital, and Apricot Capital. Meanwhile, SINOMAB announced that it will initiate its IPO process in the near future. CEC CAPITAL served as the exclusive financial advisor for SINOMAB in this financing round.

SINOMAB BIOSCIENCE LIMITED is a Hong Kong-registered antibody novel drug R&D company targeting the global market. It was founded in Hong Kong in 2001 by Dr. Raymond Leung, Adjunct Professor at The Chinese University of Hong Kong and The Hong Kong University of Science and Technology, former Director of the Hong Kong Biotechnology Research Institute, and Advisor to the HKEX Biotech Advisory Panel. In the field of antibodies, Dr. Leung is the first scientist globally to propose the concept of “functional humanization” and the first to successfully develop a humanized monoclonal antibody targeting CD22. In 2018, he was specially appointed by the Hong Kong Stock Exchange as an advisor to its inaugural Biotech Advisory Panel.

Leveraging Dr. Liang Ruian’s over two decades of experience in the development and industrialization of monoclonal antibodies, SINOMAB BIOSCIENCE LIMITED has, through more than ten years of growth, established an innovative drug platform centered on its globally leading CD22 target. The company has developed multiple first-in-class monoclonal antibody therapeutics for autoimmune diseases (such as rheumatoid arthritis and systemic lupus erythematosus) and oncology (specifically non-Hodgkin lymphoma), and has initiated numerous clinical trials. As the fastest-growing innovative pharmaceutical enterprise in this field, its core candidates are currently undergoing Phase III clinical trials at renowned hospitals across China. Furthermore, the company has received recognition and support from the National 863 Program and major special funds. At present, SINOMAB BIOSCIENCE LIMITED has established research centers and production bases in Shenzhen, Haikou, and Suzhou, respectively.

Dr. Liang Ruian, founder of SINOMAB BIOSCIENCE LIMITED, stated: “SINOMAB is an innovative antibody company rooted in China with a global outlook, dedicated to developing monoclonal antibodies that target hard-to-treat diseases, striving to bring hope to patients suffering from these conditions. We appreciate the recognition from CICC Capital and Apricot Capital. We will continue to foster innovation, enrich our product pipeline, accelerate global clinical development and industrialization, and contribute to the health of patients with autoimmune and other hard-to-treat diseases in China and around the world.”

Liu Senlin, Head of Healthcare Investment at CICC Zhide, stated, “We have long focused on platform enterprises with portfolios of products demonstrating significant clinical value in the field of new drugs. We are delighted to partner with SINOMAB BIOSCIENCE LIMITED, a leading company in China’s innovative biologics sector for autoimmune diseases, whose portfolio holds substantial clinical value and addresses a remarkably large market opportunity. We highly recognize the extensive experience and advanced technologies of the team led by Dr. Liang Ruian in monoclonal antibody drug development. We look forward to the company bringing therapies with better efficacy and higher safety profiles to the market in the near future, thereby benefiting patients. We will fully leverage the high-quality resources of CICC to provide long-term support for the future development of SINOMAB BIOSCIENCE.”

Commenting on the transaction, Ms. Liu Wenyi, Founding Partner of Apricot Capital, stated, “Adhering to our philosophy of being the ‘best startup partner,’ Apricot Capital will continue to make additional investments in outstanding innovative enterprises to support their long-term development. SINOMAB BIOSCIENCE LIMITED boasts unparalleled capabilities in innovation, clinical execution, and antibody production. Its lead product is progressing smoothly through Phase III clinical trials, its subsequent product pipeline is advancing steadily, and the construction of its production base is proceeding in an orderly manner. Apricot Capital is optimistic about SINOMAB’s potential to become a leading innovative antibody R&D platform in China and will continue to increase its investment as the company’s startup partner.”

As the financial advisor for this transaction, Ms. Irene Hong, Partner at CEC CAPITAL, stated, “SINOMAB BIOSCIENCE LIMITED is the undisputed leader among innovative pharmaceutical companies in Hong Kong, representing the highest standard of the region’s biotechnology industry. It is one of the few companies in Greater China with first-in-class biological drug products and has achieved global leadership in the research and development progress targeting CD22. Against the backdrop of stringent national policies regulating generic drugs and adjuvant medications, companies with genuine innovation capabilities and proprietary products are more likely to stand out in future industry competition. We are highly optimistic about SINOMAB BIOSCIENCE LIMITED becoming a leading enterprise in China’s innovative biopharmaceutical sector.”

CICC Capital is a wholly-owned private equity investment management subsidiary of China International Capital Corporation Limited (“CICC”). As CICC’s sole platform for private equity fund business, it centrally manages CICC’s domestic and overseas private equity fund operations, undertaking functions such as formulating private equity investment development strategies, promoting business growth, allocating resources, and managing risk control. With total assets under management of approximately RMB 300 billion and a professional investment management team of over 200 members, CICC Capital—together with its subsidiary platforms including CICC Qiyuan, CICC Jiacheng, CICC Zhide, the Overseas Fund of Funds, and CICC Jiazi—manages numerous funds, establishing itself as one of China’s leading private equity investment management platforms.

Apricot Capital was established in 2015. Its management team comprises more than 20 professionals and consultants with extensive investment experience in the healthcare sector, boasting professional backgrounds in life sciences, pharmaceuticals, finance, and law. The firm currently manages assets totaling over RMB 2 billion. Since its inception, Apricot Capital has focused on investing in outstanding early-stage and growth-stage enterprises in the healthcare industry, with its portfolio spanning biopharmaceuticals, life technologies, medical devices, healthcare services, and diagnostics. Committed to fostering innovation and growth among Chinese enterprises and driving industrial progress and social development, Apricot Capital leverages its investment team’s rich industry expertise, global resource network, and esteemed reputation to diligently support entrepreneurs in realizing their startup aspirations.

CEC Capital is China’s largest private investment bank focused on the new economy and the restructuring of traditional industries. Over the past two decades since its inception, CEC Capital has remained dedicated to the TMT, consumer, and healthcare sectors, consistently positioning itself at the forefront of China’s new economic development. The firm operates through two core business segments: investment banking and asset management. Within its investment banking division, CEC Capital’s primary services include private placement financing and mergers and acquisitions advisory. In the past three years, the total value of transactions completed by CEC Capital has exceeded RMB 100 billion. In its investment division, the firm manages one U.S. dollar fund and one RMB fund, with total assets under management surpassing RMB 3 billion. CEC Capital maintains offices in Beijing, Shanghai, Los Angeles, and San Francisco, and holds licenses to operate in the U.S. securities market. The healthcare sector is a key focus area where CEC Capital possesses significant competitive advantages. Its diverse team, comprising professionals from R&D, funds, medical institutions, and corporate groups, enables the firm to demonstrate profound understanding and insight into the healthcare industry and its investment logic.