Sciwind Biosciences Secures Nearly RMB 200 Million Series A Funding to Advance Innovative Therapeutics for Severe Metabolic Diseases

VCBeat has learned that at the beginning of the new year, Sciwind, a company focused on developing new drugs for severe metabolic diseases, completed a Series A financing round of nearly RMB 200 million. The round was led by Legend Capital, with existing shareholders Shiyu Capital and Kaiyin Technology participating as co-investors.

“We are committed to developing safe and effective novel protein and peptide therapeutics for the treatment of critical metabolic disorders, particularly non-alcoholic steatohepatitis (NASH) induced by diabetes or obesity. In 2019, Sciwind will submit Investigational New Drug (IND) applications for two Class 1 innovative drugs with international intellectual property rights,” stated Dr. Pan Hai, Chairman and General Manager of the company. “This financing round will provide robust financial support for the company’s long-term strategic development. We extend our sincere gratitude to both existing and new shareholders for their strong trust and steadfast support in Sciwind.”

In China alone, the NASH patient population has reached at least 20 million, with 30% of these patients at risk of progressing to cirrhosis or liver cancer, indicating a substantial unmet medical need. Furthermore, obesity and type 2 diabetes, which can induce NASH, are spreading globally. Hepatologists are observing an increasing number of younger NASH patients, further exacerbating the potential demand for medical interventions. Sciwind’s new drug project for NASH may bring about a breakthrough, benefiting NASH patients in China and worldwide.

Dr. Pan Hai stated, “The NASH therapeutic area holds substantial market potential. Although many pharmaceutical companies are currently engaged in the development of new drugs for NASH, Sciwind focuses on biologic agents, developing novel biologics for NASH treatment through combination therapies that target metabolism, inflammation, and fibrosis from three distinct perspectives.”

Sciwind boasts a highly internationalized R&D and management team. Many of its senior executives hail from top European and American biopharmaceutical companies such as Amgen Inc., Novo Nordisk, and Pfizer, bringing extensive experience in the global development and industrialization of novel biologics. The R&D team is fully equipped with the technical capability to independently develop new biological drugs. Since its inception, Sciwind has adhered to the philosophy of “Science First, Action-Oriented, Integrity-Driven.” Positioning itself as an international company dedicated to innovative drug development, Sciwind maintains a global perspective while serving China. It continuously explores new therapeutic approaches for metabolic critical diseases, with a strategic focus on steatohepatitis, liver fibrosis, and liver cirrhosis.

Dr. Pan Hai, Chairman of the Board and General Manager of the Company, has long been engaged in new drug research in the field of liver disease. He possesses extensive experience across the entire R&D chain for novel therapeutics, including recombinant protein drugs, peptide drugs, and small-molecule drugs. As an industry expert in the industrialization of macromolecular biologics and the liver disease sector, he has achieved outstanding results in new drug development for liver disease treatment. Among returnee experts, he is a leading figure who has successfully brought multiple new drugs to market and submitted them for regulatory approval.

Dr. Pan Hai, Chairman and General Manager of Sciwind

Over the past year since its establishment, the company has built a high-quality, diversified R&D pipeline with independent intellectual property rights, efficiently advancing preclinical studies for various projects. Meanwhile, it has adopted a combination therapy research strategy to actively explore optimal drug combination regimens for the treatment of NASH.

As the lead investor in this financing round, Wang Junfeng, Managing Director of Legend Capital, commented on leading the investment in Sciwind: “China’s biopharmaceutical industry is in a golden period of rapid development. NASH (non-alcoholic steatohepatitis) represents a significant unmet clinical need, underpinned by opportunities that cannot be missed. Prior to making the investment decision, Legend Capital conducted comprehensive and in-depth due diligence on Sciwind’s drug pipeline, development capabilities, and patent portfolio. We believe Sciwind possesses immense growth potential, and we have full confidence in its team and novel drugs!”

From leading the Pre-A round to making additional investments in the A round, Shiyu Capital has been a steadfast partner throughout. Commenting on this, Yang Hongbing, Founding Partner of Shiyu Capital, stated, “Sciwind is a key portfolio company incubated by Shiyu Capital, focusing on the treatment of metabolic diseases. For investments in innovative drugs, the founding team is crucial. Sciwind’s founding team possesses strong capabilities in new drug R&D and extensive clinical research experience, demonstrating excellent collaborative spirit and exceptional execution skills. They have comprehensive experience spanning the entire process from preclinical development to market launch. We are highly optimistic about Sciwind’s development prospects.”

Legend Capital is an independent professional venture capital firm under Legend Holdings, established in April 2001. Its core business focuses on early-stage venture capital and growth-stage expansion investment, with a strategic emphasis on TMT and innovative consumption, professional services and intelligent manufacturing, healthcare, and culture and sports sectors. The total assets under management in USD and RMB funds exceed RMB 40 billion, with a primary focus on innovation and growth opportunities in China. As of 2018, Legend Capital had invested in nearly 400 companies, among which approximately 70 have successfully listed or been quoted on domestic or overseas stock exchanges, and nearly 50 have exited through mergers and acquisitions. Representative portfolio companies include iFlytek, Spreadtrum Communications, CAR Inc., Contemporary Amperex Technology Co., Limited (CATL), BitAuto, Vantone Innovation, KingMed Diagnostics, Berry Genomics, and Bilibili. The team is deeply rooted in the local market, possesses profound insights into China, and brings extensive experience in corporate operations.

Legend Capital has cumulatively invested in more than 80 companies in the healthcare sector, with total investments exceeding US$1 billion. In 2018, several portfolio companies of Legend Capital went public on major global capital markets, including outstanding enterprises such as Innovent Biologics, Mingde Biology, WuXi AppTec, and Axonics.

Shiyu Capital is a private equity firm dedicated to the pharmaceutical and healthcare sectors. Guided by its investment philosophy of “industry-rooted, innovative, professional, and focused,” Shiyu empowers traditional pharmaceutical companies to achieve product upgrades and helps innovative pharmaceutical enterprises enhance their industrialization and commercialization capabilities. Adopting the strategy of “strategic positioning across therapeutic areas, seizing product innovation, and tapping into consumption upgrades,” Shiyu actively invests in biopharmaceuticals, healthcare services, contract research organizations (CROs), and pharmaceutical retail. The firm currently boasts a professional team of over 30 investment and operational management professionals, with assets under management exceeding RMB 5 billion.

Source: PharmaEra