SynVida Bio Secures Nearly RMB 200 Million Series A Financing to Advance Innovative Drug Development in Hemostasis and Fibrosis

VCBeat has learned that Shanghai Xunyao Biotechnology Co., Ltd. (hereinafter referred to as “Xunyao Biotech”), which is deeply engaged in the R&D of innovative drugs in the fields of hemostasis, thrombosis, and fibrosis,Announced the completion of its nearly RMB 200 million Series A financing round, led by LapamCapital, with additional investment from existing shareholder SHC; LEAP CAPITAL served as the exclusive financial advisor.

As a model example of industry-academia-research-capital collaboration, Xunyao Biotechnology was established in May 2021. With strong support from the Shanghai Jiao Tong University School of Medicine, it was jointly incubated and founded by Professor Liu Junling’s team at the School of Medicine, together with Shanghai Pharmaceuticals Group, Shanghai Healthcare Capital (SHC), and other partners. The company focuses on the research and development of innovative drugs in the fields of hemostasis/thrombosis and fibrosis. Since its establishment, leveraging the founding team’s years of technical expertise, the company has developed original targets and novel molecular pipelines for pulmonary fibrosis and hemostatic disorders such as thrombocytopenia, hemophilia, and thrombotic diseases. It has also built a next-generation antibody and protein drug discovery and engineering platform based on synthetic biology. The funds from this financing round will help advance the clinical and preclinical studies of the company’s existing pipeline.

Professor Liu Junling, Founder of Xunyao Biotechnology, is a recipient of the National Science Fund for Distinguished Young Scholars, Professor at Shanghai Jiao Tong University School of Medicine, Distinguished Professor at Shanghai Jiao Tong University, Distinguished Professor of Shanghai Universities (Oriental Scholar), Shuguang Scholar of the Shanghai Municipal Education Commission, Vice Chairman of the Vascular Medicine Committee of the Chinese Society of Pathophysiology, Vice Chairman of the Thrombosis and Hemostasis Committee of the Chinese Physiological Society, Member of the Shanghai Municipal Committee of the Chinese People's Political Consultative Conference, and former Deputy Dean of the School of Basic Medical Sciences, Shanghai Jiao Tong University School of Medicine.

For over two decades, Professor Liu Junling has been deeply engaged in basic research and translational studies in the field of hemostasis and thrombosis, achieving numerous breakthroughs. He has currently presided over eight major national key projects, published nearly 100 research papers in leading international journals, and received the First Prize of the Ministry of Education’s Award for Scientific and Technological Progress as well as the Second Prize of the National Award for Scientific and Technological Progress.

At Shanghai Xunyao Biotechnology Co., Ltd., Professor Liu Junling leads a core R&D team composed of highly educated and accomplished scientific and industrial experts. More than 80% of the team members hold master’s or doctoral degrees. The team includes recipients of prestigious honors such as the Shanghai May 1st Labor Medal, the National Excellent Young Scientists Fund, the Shanghai Oriental Talent Program (Youth Project), the Shanghai Science and Technology Rising Star Award, the International Society on Thrombosis and Haemostasis (ISTH) “Early Career Travel Grant,” and the ISTH “Young Investigator” Award.

Under the leadership of Professor Liu, the team completed the Investigational New Drug (IND) application and obtained clinical trial approval for the world’s first nebulized inhaled antibody drug targeting a novel mechanism. This achievement not only addressed unprecedented biological and pharmaceutical challenges associated with innovative target drugs but also established a non-clinical research pathway for fully developed antibody drugs administered via nebulized inhalation within the industry. Furthermore, as the only start-up biopharmaceutical enterprise from Shanghai to advance to the national finals of the 11th China Innovation and Entrepreneurship Competition, the team won the Excellence Award, the Growth Potential Award at the “Create in Shanghai” International Innovation and Entrepreneurship Competition, and the “Star of Hope” award from the Lingang New Area, among other honors. Several preclinical research projects have also secured support from two Shanghai Municipal Science and Technology Commission scientific and technological support programs and one National Natural Science Foundation project, owing to their innovativeness and high technical barriers.

Over the past two years, the team has published 11 highly influential research papers in core journals such as *Immunity*, *Blood*, *Nature Communications*, *Circulation Research* (*Circ Res.*), and *Journal of Thrombosis and Haemostasis* (*J Thromb Haemost.*). The cumulative Impact Factor (IF) of these publications exceeds 150.

According to the pipeline disclosed by Xunyao Biotechnology, it includes a global first-in-class therapeutic nebulized antibody targeting a novel target in pulmonary fibrosis derived from the hematopoietic system, as well as a novel specific bispecific antibody molecule for hemophilia A and a long-acting, reversible anticoagulant antibody targeting a new mechanism.

Among them, the therapeutic nebulized inhaled antibody drug for pulmonary fibrosis, which has just received domestic IND approval, targets Platelet Endothelial Aggregation Receptor 1 (PECAM-1) expressed in fibroblasts, a target first identified by Xunyao Biotechnology.Pear1) and its role as a novel molecular target for the treatment of pulmonary fibrosis (Nat Commun. 2022 Nov 19;13(1):7114.). The research team at Xunyao Biotechnology found that deletion of this gene leads to spontaneous decline in respiratory function and accumulation of alveolar collagen in aged mice, exacerbates the severity of pulmonary fibrosis in drug-induced models, and increases mortality. Furthermore, specific knockout of this gene in lung fibroblasts significantly worsened bleomycin-induced pulmonary fibrosis, suggesting that PEAR1 may regulate the progression of pulmonary fibrosis by modulating fibroblast function. According to the molecular mechanism published by Shanghai Xunyao Biotechnology Co., Ltd. in Nature Communications, PEAR1 can inhibit the activation of lung fibroblasts induced by profibrotic factors such as TGF-β, FGF, or PDGF. This characteristic positions PEAR1 as an upstream target for drugs like pirfenidone and nintedanib. Moreover, as part of an endogenous feedback inhibition pathway, it offers potential advantages of broader and milder therapeutic effects.

Shanghai Xunyao Biotechnology’s independently developed monoclonal antibody targeting PEAR1, administered via nebulized inhalation to activate PEAR1, significantly improves lung function and alleviates fibrosis in bleomycin-induced PEAR1-humanized mice. It markedly reverses weight loss and increases survival rates in these animals, demonstrating superior efficacy compared to pirfenidone, and holds promise for restoring the balance between collagen deposition and degradation in the pulmonary interstitium. No related toxic or adverse effects were observed in local and systemic administration studies in non-human primates, indicating a favorable safety profile. With its convenient once-weekly nebulized inhalation dosing regimen, this antibody therapy is poised to pioneer a new frontier in the use of inhaled macromolecular drugs for the treatment of pulmonary diseases.

Disease Background: Pulmonary fibrosis is a chronic, progressive, fibrosing interstitial lung disease. In some patients, the etiology remains unknown, a condition referred to as idiopathic pulmonary fibrosis (IPF). Patients with IPF experience an irreversible and continuous decline in lung function, ultimately leading to death from respiratory failure. IPF carries a poor prognosis, with a median survival of 2–3 years and a 5-year survival rate of less than 30%. According to incomplete statistics, there are nearly 300,000 IPF patients in China.。

As coagulation and bleeding disorders represent a traditional strength of Xunyao, the company has also established a robust pipeline featuring highly innovative assets with high barriers to entry, which are expected to provide patients with new therapeutic options.

SV003, a therapeutic antibody for hemophilia A, is a novel FVIII-mimetic subcutaneous bispecific antibody. Compared with emicizumab, the first marketed drug targeting this pathway, SV003 demonstrates higher procoagulant activity, lower dosing requirements, a longer half-life, and lower manufacturing costs, positioning it as a more effective and cost-effective alternative therapy for patients with hemophilia A.

Disease Background: Hemophilia A is a hereditary disorder characterized by congenital deficiency of coagulation factor VIII (FVIII), predominantly affecting males. According to incomplete statistics, there are approximately 140,000 patients with hemophilia A in China. Treatment primarily relies on FVIII replacement therapy, including prophylactic or on-demand infusions of FVIII and injections of bispecific antibodies, necessitating lifelong medication. Currently, about 30% of patients develop anti-FVIII inhibitors following FVIII infusion, requiring a switch to bispecific antibodies or bypassing agents. Patients who do not receive adequate prophylactic treatment often suffer from lifelong disabilities due to bleeding into deep muscles and joints, resulting in poor quality of life and significant burdens on families and society. At present, approximately 30,000–40,000 patients with hemophilia A in China are confirmed to be receiving treatment, mainly relying on exogenous FVIII. The average per-capita dosage falls far short of the prophylactic treatment standards set by the World Federation of Hemophilia (WFH). To achieve the goal of prophylactic treatment (≤1 bleeding episode per year), the annual per-patient medication cost would range from RMB 500,000 to RMB 1.2 million.

Furthermore, according to further disclosures by Xunyao Biotechnology, its investigational drug SV004 is a long-acting anticoagulant antibody that can be antagonized by existing medications and features non-clearing target binding characteristics. Compared with xaban-class drugs, SV004 demonstrates superior and well-defined anticoagulant efficacy, an extremely low risk of bleeding, and reversibility via currently marketed antidotes. It is indicated for patients requiring long-term anticoagulation who face dual risks of thrombosis and bleeding. Its effects can be paused or antagonized as clinically needed, thereby reducing bleeding risks in anticoagulated patients and providing a more suitable time window for urgent surgical interventions. As such, SV004 represents a safer, more effective, and controllable new generation of anticoagulant therapy.

Currently, SV003 and SV004 are in the preclinical research stage.

Behind the multiple innovative pipelines is Xunyao Biotechnology's drug R&D technology platform with independent intellectual property rights.

To support the development of antibody molecules, Professor Liu has led his team over the years to establish EMPRESS™, a large-capacity, low-redundancy, high-accuracy fully synthetic phage and yeast library construction system. This platform enables the synthesis of high-fidelity, large-fragment genes and the amplification of fully synthetic phage and yeast libraries, facilitating the screening of antibodies that bind to specific antigens. It also supports the construction of fully synthetic random antibody libraries and the selection of high-affinity antibodies.

Compared with immune libraries, the fully synthetic antibody library constructed by EMPRESS™ offers the advantages of eliminating the need for immunization cycles, shortening development timelines, and removing the requirement for humanization. It can be designed to target specific antigens across all species, thereby addressing the issue of prohibitively high R&D costs associated with the restriction to specific animal species in subsequent drug development. Compared with other existing synthetic antibody libraries in the industry, the EMPRESS™ fully synthetic library is built on next-generation nucleic acid synthesis technology, enabling faster construction and greater randomness. This significantly reduces redundancy and duplicate sequences, truly ensuring the diversity of the antibody library. Furthermore, its compatibility with both eukaryotic and prokaryotic cells allows for the rapid identification of a larger number of more diverse, higher-affinity antibody screening candidates. In addition, the EMPRESS™ platform can be used to construct various types of protein libraries, including peptide libraries and common light chain bispecific antibody libraries.

In April 2023, Xunyao Biotechnology established its wholly-owned subsidiary, Shanghai Xunyao Botu Biotechnology Co., Ltd. (“Xunyao Botu”), leveraging the EMPRESS™ system to build an early-stage R&D service platform based on synthetic biology. In the future, Xunyao Botu will open access to its proprietary libraries for universities, research institutes, and industrial partners. Clients can screen for target molecules based on provided proteins without disclosing sequence information, or they may purchase pre-made libraries to conduct internal screening and obtain all positive sequences. This approach effectively safeguards the intellectual property rights associated with all positive sequences while introducing a novel model for early-stage innovation translation and drug development collaboration within the industry.

After more than two years of development, and with the support of academic institutions and industry partners, Professor Liu Junling has led Shanghai Xunyao Biotechnology Co., Ltd. to successfully transform early-stage university research achievements into an original-innovation biotech company driven by industrial growth. Leveraging keen insights into clinical needs and a solid foundation in basic research, the company has achieved a breakthrough from “0” to “1” and gained market recognition despite the industry downturn. Looking ahead, Xunyao Biotechnology will continue to advance the clinical development of its original innovative molecules and build out its innovative drug discovery platform, striving to benefit patients as soon as possible. With sustained R&D innovation capabilities, the company aims to accelerate the translation of more scientific achievements into original new drugs.

Regarding this financing round,Professor Liu Junling, Founder of Xunyao BiotechnologyStatement: We express our gratitude to LapamCapital for its high recognition of Xunyao Biotechnology, and to existing shareholder Shanghai Healthcare Capital (SHC) for its continued confidence. We also thank other existing shareholders, including Shanghai Pharmaceuticals and Shanghai Jiao Tong University School of Medicine, for their support and nurturing of Xunyao’s growth. Xunyao Biotechnology’s projects originate from university technology transfer. Leveraging a strong foundation in basic biological research, the Xunyao team bridges academia with industry and market needs, positioning itself at the forefront of the new phase of original innovative drug development in China. We are committed not only to bringing more effective and accessible therapies to clinical patients but also to pioneering a new pathway for the commercialization of academic biomedical research outcomes in China.

Yu Zhihua, Chairman of LapamCapitalShanghai Xunyao Biotechnology Co., Ltd. is an innovative pharmaceutical R&D company with significant growth potential. The company focuses on the fields of fibrosis and hemostasis/thrombosis, dedicated to addressing long-standing unmet clinical needs. Leveraging Professor Liu Junling’s extensive research accumulation in hemostasis/thrombosis and fibrosis at Shanghai Jiao Tong University School of Medicine, and combining it with Shanghai Pharmaceuticals’ industrialization capabilities, the company has built a pipeline of products with excellent preclinical data and rapidly advanced a novel-target drug into the clinical stage. This fully demonstrates the scientific research and efficiency advantages of industry-academia collaboration. LapamCapital is pleased to participate in the company’s development through investment. We will continue to utilize our resources and experience to help the founding team drive the company’s growth. We also look forward to the early application of Shanghai Xunyao Biotechnology’s drug development pipeline in clinical practice, benefiting a broad range of patients.

Liu Dawei, President of SHCSHC stated that Shanghai Xunyao Biotechnology Co., Ltd. (Xunyao Bio) is the first outcome of deep “industry-academia-research-capital” collaboration incubated and commercialized by SHC. The project has successfully facilitated the university’s exit, marking a successful practice by SHC in promoting the distinctive development of scientific and technological innovation translation from medical colleges and universities. Since its establishment, SHC has been deeply involved in the incubation process, supporting the company in achieving a series of milestone progressions, and looks forward to the clinical validation of Xunyao’s original innovative drugs. Moving forward, SHC will join hands with other shareholders to continue providing robust post-investment support to Xunyao, helping it seize opportunities in the rapidly evolving field of new drug research and development.

Headquartered in Beijing, LapamCapital is a leading biomedical venture capital firm in China. Currently, LapamCapital manages five RMB funds and one USD fund, with total assets under management exceeding RMB 10 billion. It is the only biomedical investment institution to have received capital commitments from both of China’s top two RMB limited partners: the National Council for Social Security Fund (NCSSF) and the National Fund for Development of Small and Medium-sized Enterprises. LapamCapital focuses on investments in innovative drugs and innovative medical devices, primarily targeting start-up and early-to-mid-stage companies. To date, it has invested in over 120 companies, including more than 100 innovative drug enterprises and over 20 innovative medical device companies. Its portfolio features numerous star projects such as Beta Pharma (SZ.300558), RemeGen (SH.688331), Yihua Pharmaceuticals (SH.688176), Kaiyin Technology (SH.688687), ImmuneOnco (HK.01541), Aier Eye Hospital Group’s subsidiary Aibo Medical (SH.688050), Contineum Pharmaceuticals (GYRE), Huahao Zhongtian, BinHui Biotech, and Wuhe Boao. Many partners in LapamCapital’s management team possess over 20 years of R&D and management experience in the international and domestic biomedical industries, enabling them to provide comprehensive value-added services to portfolio companies.

The Shanghai Healthcare Capital (SHC), approved by the Shanghai Municipal People's Government and initiated by Shanghai Industrial Holdings (SIH) Group, is a municipal-level industrial fund with a total target management scale of RMB 50 billion. Leveraging Shanghai’s comprehensive advantages in biomedical development and relying on industrial resources, the fund aims to build an innovative investment platform for the biomedical sector that is “based in Shanghai and Hong Kong, linked with the Yangtze River Delta, and oriented towards the global market.” By combining financial capital with industrial resources and integrating domestic and overseas operations, the fund will focus on key areas aligned with Shanghai’s biomedical industry development strategy, including high-end biological products, innovative chemical drugs and formulations, high-end medical devices and diagnostics, and innovative business models in the healthcare sector.

Shanghai Pharmaceuticals is a large pharmaceutical industry group listed in both Shanghai and Hong Kong (HKEX stock code: 02607; SSE stock code: 601607). The company’s core businesses span pharmaceutical manufacturing and distribution. In 2022, it reported operating revenue of RMB 232 billion, ranking among the Fortune Global 500 and the Top 50 Global Pharmaceutical Companies. Its comprehensive strength places it among the top three pharmaceutical enterprises in China, and it is included as a constituent stock in the SSE 180 Index, the CSI 300 Index, and the MSCI China Index. Upholding the core corporate values of “innovation, integrity, collaboration, inclusiveness, and responsibility,” Shanghai Pharmaceuticals is committed to consistently improving people’s health and quality of life, striving to become a respected leading manufacturer of branded pharmaceuticals and a healthcare service provider with strong industry reputation.