Akeso Inc. Completes RMB 300 Million Series B Financing with China Renaissance as Exclusive Financial Advisor

VCBeat (WeChat ID: vcbeat) has learned that on August 28, 2017, Akeso, Inc. (hereinafter referred to as “Akeso”), an innovative drug R&D enterprise, announced the completion of its Series B financing round amounting to RMB 300 million. The round was led by GTJA Investment Group, with participation from Shenzhen Capital Group Co., Ltd. (the lead investor in Akeso’s Series A round), existing shareholder Qianhai Fund of Funds, and Qianhai Qinzi Capital. China Renaissance served as the exclusive financial advisor. The proceeds from this financing will support Akeso in conducting international and domestic clinical trials for several innovative antibody products, advancing preclinical research on its pipeline projects, and initiating the construction of its new drug production facility.

Akeso was founded in 2012 by a team of returning overseas entrepreneurs led by Dr. Xia Yu, focusing on the development of innovative antibody-based novel drugs with independent intellectual property rights. The company possesses world-class capabilities and innovation strength in the full-process research and development of new antibody drugs. It has currently established a pipeline of 25 antibody drug candidates, covering major disease areas such as oncology, autoimmune diseases, cardiovascular diseases, inflammation, metabolic disorders, and pain management. Among these, seven products have completed clinical trial applications, and two have entered clinical studies.

Akeso is an innovative biopharmaceutical company in China and the first to license a fully self-developed novel monoclonal antibody drug to a top global pharmaceutical giant, with a transaction value of $200 million. This novel antibody drug has entered international clinical trials. Akeso possesses leading core capabilities in antibody research and development, particularly its unique Tetrabody bispecific antibody development technology. Furthermore, the company operates a comprehensive end-to-end antibody development platform spanning early-stage R&D, pilot-scale manufacturing, and commercial production.

Dr. Xia Yu, Founder, Chairman, and CEO of Akeso, stated, “We are honored that this financing round has attracted significant attention from investors. We thank them for their strong recognition of Akeso’s technology platform, product pipeline, and management team. We are also pleased to see the enthusiasm and confidence of China’s capital markets in antibody-based innovative drug companies with independent intellectual property rights. As a pioneer in this industry, Akeso will remain true to its original aspiration, consistently driving R&D innovation to develop high-quality, affordable novel antibody therapies for patients worldwide, thereby contributing to human health.”

Cai Dajian, Chairman of GTJA Investment Group, stated: “Akeso is one of the most innovative antibody-based pharmaceutical companies in China. Its R&D capabilities have been endorsed by top-five global pharmaceutical giants. The company also boasts a robust product pipeline, featuring first-in-class broad-spectrum anti-cancer antibodies developed worldwide. A steady stream of candidate drugs underscores Akeso’s strong potential for sustainable growth. Akeso’s attributes of innovation, leadership, and sustainability align closely with GTJA’s investment philosophy, and we believe that Akeso will exert a profound influence on China’s antibody industry.”

Yu Rui, Director of the Healthcare and Life Sciences Group at China Renaissance, stated, “Akeso boasts a top-tier, experienced management team in China and possesses genuine innovative R&D capabilities, positioning it as a leading enterprise among the new generation of Chinese antibody developers. We firmly believe that Akeso will become one of the most outstanding innovative antibody drug companies in China. It is our great honor to have assisted the company in successfully completing this round of financing.”