BioMice Genomics Completes RMB 410 Million Series C Financing to Advance as a Leading Global CRO in Gene-Edited Animal Models and Biopharmaceutical R&D Services
On April 10, Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (“Biocytogen”) announced the completion of its Series C financing round, raising a total of RMB 410 million. The round was led by CMB International Capital, with participation from SDIC Venture Capital (the lead investor in the Series B round), Bencao Capital, Cowin Capital, and Yuanhe Origin. The funds raised will be primarily used for market expansion both domestically and internationally, technology and product development, construction of new facilities, and talent team building.
Leveraging the superior resources of both China and the United States, the company has established an internationally leading platform for the development of gene knockout/knockin model animals. It operates animal facilities spanning tens of thousands of square meters in Beijing and Haimen, Jiangsu Province, and plans to expand its total facility area to over 50,000 square meters within two years, thereby becoming a premier domestic supplier of model animals. Relying on its self-developed immune checkpoint humanized mice and immunodeficient animals with human immune system reconstitution, the company has established pharmacological and efficacy evaluation platforms for tumor immunotherapies in Boston (USA), Beijing, and Haimen (Jiangsu), providing R&D services to pharmaceutical enterprises both domestically and internationally. Building on this foundation, the company has optimized and enhanced the entire traditional antibody discovery workflow, offering efficient, rapid, and high-success-rate outsourced services for antibody discovery and screening.
BioCyto was founded in 2008 by Dr. Shen Yuele, an expert with over 20 years of experience in the research and development of animal models. It is a comprehensive biopharmaceutical contract research organization (CRO) that leverages gene-editing technologies to integrate customized model animal development, large-scale breeding and supply of specialized disease animal models, in vivo pharmacological and efficacy evaluation services, and outsourced antibody drug R&D services.
Leveraging its independently developed humanized immune checkpoint mouse models and immunodeficient animals with human immune system reconstitution, the company has established pharmacological and efficacy evaluation platforms for tumor immunotherapies in Beijing and Haimen (Jiangsu Province), China, as well as in Boston, USA, providing R&D services to pharmaceutical companies both domestically and internationally. Building on this foundation, the company has optimized and enhanced the entire traditional antibody discovery workflow, offering efficient, rapid, and high-success-rate outsourced antibody discovery and screening services.
Currently, Biocytogen has grown into a leading provider of gene-edited animal models in China, as well as a leading supplier of immunodeficient mice and humanized immune checkpoint mice.
Leveraging its independently developed humanized animal models for tumor immune checkpoints and severely immunodeficient B-NDG mouse models reconstituted with the human immune system, the company provides clients with in vivo pharmacological and efficacy evaluation services for tumor immunotherapy drugs. Furthermore, based on its unique in vivo efficacy evaluation system using model animals, the platform significantly accelerates and optimizes the antibody discovery process, delivering efficient, rapid, and high-success-rate outsourced services for antibody drug discovery and screening to pharmaceutical companies both in China and abroad.
As of the end of 2017, Biocytogen provided model animal supply, pharmacological and efficacy evaluation, and antibody development outsourcing services to nearly 100 pharmaceutical R&D enterprises both domestically and internationally, including multinational pharmaceutical companies such as Amgen, Sanofi, Eli Lilly, Merck, and Roche; it also delivered customized gene-editing services to nearly 500 domestic research institutions, universities, and pharmaceutical companies, as well as more than 150 overseas research institutions and universities.
The modern biopharmaceutical industry requires standardized model animals and reliable animal models of specific diseases as R&D tools. Model animals and disease-specific animal models are indispensable for in vivo drug testing, permeating every stage of the pharmaceutical R&D value chain and serving as a cornerstone of translational medicine. Globally, three to four industry giants dominate the model animal sector, thereby influencing the pace of innovative drug development worldwide.
BioCyto initially started with the custom development of gene-edited model animals, later expanding into the preparation, large-scale breeding, and supply of specialized disease animal models. Building on this foundation, the company entered the fields of pharmacological and efficacy evaluation services as well as contract research organization (CRO) services for antibody drug development.
Dr. Shen Yuelei, Founder and Chairman of Biocytogen, stated, “In recent years, the vigorous development of gene-editing technologies and the rapid rise of tumor immunotherapy have presented Biocytogen with rare opportunities for growth. Leveraging model animals as a foundation, Biocytogen has rapidly entered the field of early-stage antibody drug development services. We aspire to grow into a world-class, comprehensive biopharmaceutical R&D service CRO company, contributing to human health.”
Since its establishment in the United States in 2008, Biocytogen has completed several rounds of financing, with investors including Bio-Wealth Fund, F&G Venture Capital, CMB International, Bencao Capital, Cowin Capital, and Yuanhe Origin. To date, the company has grown from a startup into a comprehensive multinational CRO with a workforce of nearly 600 employees.
Zhou Kexiang, Managing Director of CMB International Capital, believes that global drug R&D spending will continue to increase over the next five years, with the pharmaceutical CRO industry being a direct beneficiary. The participation of Chinese pharmaceutical CRO companies will not only foster the vigorous development of domestic innovative drug R&D enterprises but also drive the rapid rise of China’s pharmaceutical CRO industry.
Zhou Kexiang stated, “As a comprehensive biomedical CRO company in China, Biocytogen has a solid foundation, and we are very pleased to support its further development.”
Gao Aimin, General Manager of SDIC Venture Capital, the lead investor in Biocytogen’s Series B financing, stated regarding the firm’s continued participation in the Series C round: “Over the past three years, Biocytogen has made tremendous progress. As the lead investor in its Series B round, we are honored to have participated in and witnessed the company’s rapid development.”
He believes that the model animal industry serves as the foundation for new drug development and has long been a bottleneck constraining China’s innovative drug R&D. “As the manager of the Technology Transfer Fund under the Ministry of Science and Technology’s Major Special Projects, we aim to cultivate and support domestic enterprises in becoming global leaders in the field of model animals, thereby driving the development of China’s entire biopharmaceutical industry,” added Gao Aimin.
Dr. Liu Qianye, Founding Partner of Bencao Capital, stated, “Tumor immune checkpoints are currently a major focus of international research in cancer immunotherapy. The market sales of monoclonal antibody drugs targeting immune checkpoints are projected to reach nearly $13 billion by 2020, representing a compound annual growth rate (CAGR) of 27% over five years. Biocytogen holds global advantages in the supply of humanized animal models for immune checkpoints and in pharmacological and efficacy evaluation, indicating strong development prospects.”
Xi Yanbin, Investment Director at Cowin Capital, expressed his agreement, stating, “Compared with its foreign counterparts, Biocytogen has carved out a distinct development path, which is the right course aligned with the growth of China’s biopharmaceutical industry.”
Zhao Qun, Partner at Yuanhe Yuandian, stated: “We are highly optimistic about the significant platform value of Biocytogen and are committed to supporting its rapid growth. Through diverse forms of strategic collaboration, we aim to jointly advance the development of antibody drug R&D in China.”