Transcenta Holding Formed by Merger of MabSpace and HJB to Accelerate Development as a Fully Integrated Global Biopharmaceutical Company
VCBeat (WeChat ID: vcbeat) has learned that on January 2, 2019, Hangzhou Just Biotherapeutics (HJB) and MabSpace announced their merger to establish Transcenta Holding (Transcenta). As an international biopharmaceutical company, Transcenta possesses integrated capabilities across the entire process of biologic drug research, development, regulatory affairs, and manufacturing. Following the merger, Dr. Qian Xueming, founder, chairman, and CEO of MabSpace, will serve as CEO of Transcenta, while Dr. Zhao Yining, co-founder and CEO of Hangzhou Just Biotherapeutics, will serve as Executive Chairman of Transcenta.
Mabwell Biosciences, founded in 2013, is a clinical-stage biotechnology company focused on the discovery, clinical research, and commercial development of innovative biologics, with an emphasis on antibody therapies for cancer and other diseases.
Headquartered in Hong Kong, Mabwell Bioscience operates a 5,000-square-meter integrated antibody discovery and development center at the Suzhou BioBay Industrial Park. Its team of over 60 professionals possesses expertise spanning drug discovery, translational research, process development, clinical research, commercial development, and regulatory affairs. Leveraging its proprietary antibody development platform technology based on immune tolerance breakthroughs, Mabwell Bioscience has established a robust product pipeline comprising innovative first-in-class or fast-follow antibody projects. Currently, more than ten drug candidates under development target oncology, ophthalmic diseases, and nephrology.
Founded in 2016, Just Biotherapeutics is dedicated to designing and applying innovative bioprocessing technologies to accelerate the research, development, and manufacturing of biologics. Leveraging its business centers in Shanghai, Hangzhou, and Boston, Just Biotherapeutics has established a global R&D and production network, bringing together more than 100 scientists, clinicians, and bioengineers from around the world. With a GMP manufacturing facility spanning over 13,000 square meters that utilizes flexible production modules, along with next-generation continuous manufacturing processes, Just Biotherapeutics can rapidly develop high-quality biotherapeutics, significantly reduce production costs, and provide cost-effective biologic medicines to more patients worldwide. Through in-licensing, Just Biotherapeutics has secured rights to several first-in-class next-generation immunotherapy antibody projects for the Chinese or global markets.
By combining the complementary strengths of Just Biotherapeutics and MabSpace Biosciences, Transcenta has achieved end-to-end integration in the discovery, development, and manufacturing of biotherapeutics internally, and boasts a senior team with extensive international industry experience in biologics discovery and R&D.
Furthermore, Transcenta has successfully established a global business footprint: it operates a drug discovery and translational research center in Suzhou; a process and product development center along with manufacturing facilities in Hangzhou; and clinical development centers in Shanghai, Beijing, and Boston, USA. Transcenta is committed to shortening the timeline from drug target identification to Biologics License Application (BLA) submission, leveraging high-quality next-generation GMP facilities to support the development and commercialization of both its internal pipeline and molecules from strategic partners.
Dr. Zhao Yining, Co-founder and Executive Chairman of Transcenta, stated, “We are delighted to announce the successful completion of the merger between the two companies. Transcenta will fully integrate the strengths of MabSpace Biosciences and Just Biotherapeutics in drug discovery, development, and manufacturing. MabSpace Biosciences has established a robust product pipeline comprising dozens of preclinical and clinical-stage drug candidates. By leveraging Just Biotherapeutics’ expertise in process and clinical development as well as highly integrated drug manufacturing, Transcenta will continue to create greater value for patients worldwide by delivering high-quality biologics at competitive prices.”
Dr. Qian Xueming, Co-founder and CEO of Transcenta, added, “We extend our sincere gratitude to the investors who have fully supported the strategic merger between Mabwell Bioscience and Just Biotherapeutics. Following the merger, we will be able to further expand our business scale and significantly accelerate the R&D and commercialization of our innovative drug pipeline, transforming Transcenta into an international biotechnology company focused on biologics development with true end-to-end integration capabilities. This will not only shorten R&D timelines but also make high-quality biologics accessible to patients at lower prices, while enabling the company to achieve sustainable profit returns and long-term growth. We aspire for Transcenta to become an enduring biotechnology company that delivers high-quality innovative medicines to patients and creates value for shareholders.”
To date, Just Biotherapeutics and Mabwell Biosciences have secured a total of approximately USD 160 million in funding from renowned investment institutions, including Lilly Asia Ventures, Temasek, Sequoia Capital China, ARCH Venture Partners, Taikang, and Tengyue Fund. Transcenta will actively expand strategic collaborations with global biotechnology companies to further enrich its product pipeline and enhance its technological capabilities.
About ARCH Venture Partners
ARCH Venture Partners is one of the largest early-stage technology venture capital firms in the United States. ARCH has invested in and co-founded more than 230 innovative companies focused on the life sciences and natural sciences, established by research universities, national laboratories, corporate research groups, and entrepreneurs.
About Lilly Asia Ventures
Lilly Asia Ventures (LAV), established in 2008, is a leading biopharmaceutical investment firm with offices in Shanghai and Hong Kong, China, as well as Palo Alto, California, USA. LAV is committed to being the partner of choice for exceptional entrepreneurs seeking smart capital, co-creating great companies that develop breakthrough products to combat diseases and improve human health.
About Sequoia Capital China
Sequoia Capital China is committed to helping entrepreneurs build enduring, great companies by bringing its member enterprises abundant global resources and valuable historical experience. Over the past 47 years, Sequoia Capital has invested in numerous innovative enterprises and leaders shaping industry trends. As “entrepreneurs behind entrepreneurs,” Sequoia Capital China focuses on investment opportunities in four key sectors: Technology/Media, Healthcare, Consumer Goods/Services, and Industrial Technology. Over the past fourteen years, Sequoia Capital China has invested in more than 500 companies distinguished by their technological expertise, innovative business models, high growth potential, and strong development prospects.
About Taikang
Taikang is a leading large-scale insurance and financial services group in China, with businesses spanning three major sectors: insurance, asset management, and healthcare and eldercare. The healthcare sector represents a key investment focus for Taikang, and its portfolio in this area includes companies such as WuXi AppTec, Mindray Medical, and Innovent Biologics.
About Temasek
Temasek was established in 1974 as an international investment company headquartered in Singapore. Our institutions are spread across the globe. As of March 31, 2018, Temasek’s portfolio value stood at S$308 billion (equivalent to US$235 billion or RMB 1.48 trillion), primarily distributed in Singapore and other parts of Asia.
About Tengyue
Tengyue Fund is a long-term investment fund based in New York, specializing in Chinese equity investments. Grounded in fundamental analysis, Tengyue employs a rigorous investment process, leveraging its global perspective and local expertise to invest in companies both within mainland China and overseas.
Refer to Mabwell Bioscience for details.