Carcell Biopharma Secures Tens of Millions in Pre-A Financing to Advance Next-Generation Drug Delivery Platforms

VCBeat has learned that on November 13, Carcell Biopharma, a biopharmaceutical company focused on the development of next-generation delivery systems, announced the completion of its Pre-A financing round, raising tens of millions of RMB. The round was led by Wuxi Capital Group, with participation from Jiayi Investment, and Index Capital served as the exclusive financial advisor. The proceeds from this financing are planned to be used to advance red blood cell-based products through Investigator-Initiated Trials (IIT) and expedite their progression to Investigational New Drug (IND) filing, as well as to continue the development of its lipid nanoparticle (LNP) platform, which holds global intellectual property rights.

Comedex is a biotechnology company founded by the Singapore-based incubator EVX Ventures. In 2021, it successfully completed an oversubscribed $16 million seed financing round led by Huiding Capital, Boyuan Capital, and Legend Star. Comedex boasts a core team with extensive experience in serial entrepreneurship and biopharmaceuticals, including Lin Xiangqian, Chairman and Founder of EVX Ventures; Dr. Yang Weiye, Executive Director of EVX Ventures; Professor Shi Jiahai from the National University of Singapore, the scientific founder of its red blood cell platform; Dr. Zhang Yi, head of its LNP platform; and Wu Lanlin, former CEO of Dendreon China, who serves as the founding CEO. Adopting a diversified “hub-and-spoke” operational model, Comedex has established two technological platforms: an engineered red blood cell platform for protein delivery to develop treatments for autoimmune diseases based on immune tolerance mechanisms, and a lipid nanoparticle (LNP) platform for nucleic acid delivery that provides one-stop delivery solutions for nucleic acid drug companies through licensing and services.

Comedixin’s erythrocyte-based therapy represents a highly promising innovative therapeutic avenue. Globally, first-generation technologies have generated clinical data that provide robust guidance for subsequent improvements. Comedixin’s second-generation engineered red blood cells (RBCs) address the stability and payload capacity limitations of the first generation, tackling global clinical challenges from a clinical perspective. Its pioneering E3 engineered RBC platform induces antigen-specific immune tolerance to develop blockbuster-potential non-insulin therapies for type 1 diabetes (T1D), with its core product poised to enter investigator-initiated trials (IIT). Additionally, leveraging its globally proprietary lipid nanoparticle (LNP) platform, the company has rapidly expanded its lipid library within just one year, accumulating over 1,500 novel cationic lipids. Through in vivo high-throughput screening, it has developed entirely new liver-targeted and extrahepatic-targeted LNPs, breaking through existing limitations and creating customized LNPs for diverse applications. The company is expected to finalize its first out-licensing partnership in the near future.

Meanwhile, the company further leveraged its advantageous resources across China, the United States, and Singapore this year, inviting industry titan Professor Harvey F. Lodish to steer its research direction. Professor Lodish is a Professor of Biology and Biological Engineering at the Massachusetts Institute of Technology (MIT), a founding member of the Whitehead Institute for Biomedical Research, the lead author of the textbook Molecular Cell Biology, and has mentored two Nobel laureates.

Lin Xiangqian, Chairman of KemexinThe Company stated that it continues to maintain a pipeline development strategy and commercialization model characterized by low risk and high differentiation. We firmly believe that one of the most significant breakthroughs in biotechnology today lies in novel drug delivery systems. We are confident that Kemexin’s efficient pipeline advancement will enable investors to achieve sustained and substantial returns on their investments.

Wu Lanlin, CEO of KemeixinStatement: We express our sincere gratitude to both new and existing investors for their recognition and continued support. Kemeixin has advanced rapidly, leveraging a unique business model and an empowerment platform that integrates middle-office capabilities to accelerate the efficient translation of its two technology platforms. Within just over a year, the company has achieved key milestones in each area, truly realizing a dual-engine drive powered by independent R&D and sustainable revenue generation.

Wuxi Capital GroupIt was stated that gene and cell therapy delivery platforms have always been at the core of the CGT field. As the first delivery platform, red blood cells (RBCs) are poised to become important drug carriers due to their unique biological properties. The core team of Kemeixin comprises global leaders in RBC-related scientific research and technological translation, dedicated to driving the industrial translation of RBC-based therapies. The company’s pipeline targets immune tolerance mechanisms, aiming to break through in the treatment of type 1 diabetes using RBC therapy. Meanwhile, the company has established a second delivery platform by building a high-throughput LNP generation and screening platform, and continues to engage in external collaborations to achieve short-term self-sustainability.

Wuxi Capital Group’s biopharmaceutical team and the Kemexin team have engaged in in-depth follow-up for two years. Amid a prolonged capital winter, the Kemexin team has demonstrated extraordinary self-sustaining capabilities and agile entrepreneurial spirit, gradually establishing the company’s global leadership in the red blood cell field. Its indications are internationally advanced, and its novel therapy for Type 1 Diabetes (T1D) has gained recognition from clinical experts and undergone technical validation. Over the past year, the company has achieved the industry’s highest throughput and validation efficiency in LNP screening. Following Wuxi Capital Group’s lead investment in Kemexin, it will continue to leverage its professional and industrial strengths in the cell and gene therapy sector to provide deep empowerment. By establishing its headquarters in Wuxi, Kemexin will deepen comprehensive cooperation with the city, aiming to build an internationally leading delivery platform for gene and cell therapies. The company will prioritize addressing major unmet global clinical needs, providing patients with more promising therapeutic options.

Jiayi InvestmentIt was stated that in this era of rapid advancement in cell and gene therapy (CGT), Kemeixin’s two core technologies are on the verge of reaching significant milestones: its lead red blood cell-based product is about to enter clinical trials, and its first out-licensing deal for lipid nanoparticle (LNP) technology is nearing completion. As the “key” to shaping an mRNA company’s drug pipeline and development pace, delivery systems determine whether a company can achieve long-term sustainability. Kemeixin remains dedicated to achieving continuous technological breakthroughs in this field. Jiayi Investment has consistently focused on sectors that withstand market cycles, choosing to partner with companies that demonstrate stable growth and agile adaptation amidst cyclical fluctuations. In the future, Jiayi Investment will engage in in-depth, long-term collaboration with the Kemeixin team.

Wuxi Capital Group is a state-owned venture capital firm with a global footprint, integrating seed, angel, venture capital (VC), private equity (PE), and secondary (S) fund strategies. With assets under management exceeding RMB 220 billion, the firm focuses on strategic emerging industries strongly supported by national policies, including biopharmaceuticals, integrated circuits, next-generation information technology, carbon peaking and carbon neutrality initiatives, and advanced manufacturing. Deeply rooted in the life and health sector, Wuxi Capital Group leverages its fund system that covers the entire lifecycle of biopharmaceutical and healthcare enterprises to provide invested companies with both capital and synergistic industrial resources. The firm has established a presence in innovative drugs, biotechnology, and medical devices. Since the beginning of this year, its investments have included Ruiyue Biologics, Xiantong Medicine, the privatization of Genetron Health from the U.S. stock market, and Shining 3D, all of which possess leading technological advantages domestically and internationally within their respective niches. Looking ahead, Wuxi Capital Group will further strengthen its capital base and refine its biopharmaceutical fund matrix. By adhering to specialized and market-oriented investment principles and leveraging its global layout, the firm aims to contribute its professional venture capital expertise to strengthening, supplementing, and extending Wuxi City’s biopharmaceutical industry chain.