Zelgen Biopharmaceuticals Secures RMB 400 Million Series B Financing Led by Minsheng Insurance, Shenzhen Capital Group, and Share Investment

VCBeat (WeChat ID: vcbeat) has learned that on January 15, 2018, Suzhou Zelgen Biopharmaceuticals Co., Ltd. (“Zelgen Biopharmaceuticals”) announced the completion of its Series B financing round, raising RMB 400 million. The round was led by Minsheng Insurance, Shenzhen Capital Group, and Fenxiang Investment, with participation from Northern Light Venture Capital, China Youth State-owned Capital Management Corporation, and others. The funds raised will be primarily used to support more than ten clinical trials for multiple chemical and biological new drug candidates at Zelgen Biopharmaceuticals, including three Phase III clinical trials of donafenib tosylate and preparations for commercial-scale manufacturing prior to market approval, as well as other investigational new drug projects and general corporate operations.

Zelgen Biopharmaceuticals, established in 2009, is dedicated to the independent research and development, manufacturing, and sales of innovative drugs. Donafenib, a Class 1 novel chemical multi-target kinase inhibitor, is currently undergoing clinical trials for multiple indications, including first-line treatment of advanced hepatocellular carcinoma, as well as advanced colorectal cancer, advanced thyroid cancer, advanced nasopharyngeal carcinoma, and advanced gastric cancer. In addition, several other novel chemical and biological drugs from Zelgen Biopharmaceuticals are at various stages of clinical trials. The company has completed the construction of GMP-compliant production facilities for solid dosage forms and recombinant protein drugs. It obtained the Drug Manufacturing License for oral solid dosage forms in 2017 and is scheduled to obtain the Drug Manufacturing License for recombinant protein drugs in the first half of 2018, thereby meeting the requirements for commercial-scale production of its new drugs.

Dr. Sheng Zelin, Chairman and General Manager of Zeltex Pharmaceuticals, stated, “Zeltex Pharmaceuticals aims to become one of the leading enterprises in China in the research, development, and production of novel drugs for oncology, hemorrhagic disorders, and hematological diseases. The investment and support from institutions such as Minsheng Insurance, Shenzhen Capital Group, Fenxiang Investment, Northern Light Venture Capital, and CYGC Fund will strongly advance Zeltex’s new drug R&D and commercialization efforts. This will enable Zeltex Pharmaceuticals to provide safe, effective, and affordable high-quality novel drugs to patients at an earlier stage, thereby realizing its vision of improving patients’ quality of life and extending human lifespan.”

“Zelgen Biopharmaceuticals has established a robust pipeline of novel chemical and biological drugs, advancing multiple candidates, including donafenib, into late-stage clinical trials, where they have demonstrated the potential for best-in-class efficacy.” Huang Fanzhi, Partner at Sharing Investment, told reporters: “Our collaboration with Zelgen Biopharmaceuticals is grounded in the efficiency, humility, and pragmatism of the Zelgen team led by Dr. Sheng; the company’s focus and technical talent advantages in novel anti-tumor drugs and coagulation-related protein therapeutics; and our shared vision of providing patients with affordable innovative medicines.”