Tianchen Bio Announces Completion of Over RMB 100 Million Series B1 Financing to Accelerate Clinical Development and Industrialization

VCBeat has learned that LongBio Pharma (Suzhou) Co., Ltd., a Chinese biotechnology company dedicated to the development of innovative large-molecule drugs in the fields of allergy and complement, recently announced the completion of its Series B1 financing round, exceeding RMB 100 million. The round was participated in by Huzhou Youcheng Venture Capital Partnership (Limited Partnership), Fuhai Jiaozi Venture Capital, Shanzheng Innovation Investment Co., Ltd., Changshu Wuyue Angel Venture Capital Partnership (Limited Partnership), and Hefei Hongda Industrial Investment Partnership (Limited Partnership). The funds raised will be primarily used to advance the clinical development and industrialization preparation of the company’s innovative drug projects, supporting their internationalization process.

LongBio was founded in 2020. Its founding team has a track record of serial entrepreneurial success, having driven the successful commercialization of several innovative drugs in both China and the United States, including the global blockbuster omalizumab, which has achieved cumulative sales exceeding $20 billion. Leveraging its leading antibody technology platform and addressing unmet clinical needs, the company has developed a pipeline of highly differentiated first-in-class or best-in-class therapeutics. Currently, its most advanced candidate, a next-generation anti-IgE antibody, is undergoing Phase II clinical trials, with Phase III trials expected to commence in early next year. Within the next 12 months, LongBio plans to have three projects in Phase II/III clinical development, marking their entry into the mature stage.

LongBio is a national high-tech enterprise, having been consecutively awarded the titles of “Jiangsu Province Potential Unicorn Enterprise” in 2022 and “China Potential Unicorn Enterprise” in 2023. The company will continue to increase its investment in innovative R&D, optimize its product pipeline, and accelerate the commercialization of core projects, thereby providing patients with better treatment options.

SME Development Fund (Chengdu) Jiaozi Venture Capital Partnership (Limited Partnership) (“Chengdu Fund”) is a national-level fund approved by the Executive Meeting of the State Council. It was established under the leadership of five ministries and commissions—the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the State Administration for Industry and Commerce—as well as China SME Development Fund Co., Ltd., with Oriental Fortune Capital serving as the fund manager. The Chengdu Fund aims to align with national policy objectives for promoting the innovative development of small and medium-sized enterprises (SMEs). By leveraging market-oriented mechanisms, it seeks to expand equity investment in SMEs, with a particular focus on accelerating the growth of seed-stage and early-stage high-growth SMEs, thereby playing an active role in fostering new business formats, new models, new growth drivers, and new momentum. With a total size of RMB 5 billion, the Chengdu Fund focuses on investing in strategic emerging industries designated by the state, including information technology, healthcare, semiconductors, new materials, and new energy.

Shanzheng Innovation Investment Co., Ltd. (hereinafter referred to as “Shanzheng Innovation”) is an alternative investment subsidiary of Shanxi Securities Co., Ltd. (hereinafter referred to as “Shanxi Securities”), with a registered capital of RMB 1.7 billion, primarily engaged in equity investment business. Shanzheng Innovation has established strategic layouts in industries such as semiconductors, high-end manufacturing, pharmaceuticals and healthcare, new energy vehicles, and new materials, successfully investing in projects including Piotech, Seeyon Interconnect, Hotgen Biotech, North Copper Industry, and Leapmotor. Shanzheng Innovation places significant emphasis on its layout in the pharmaceutical and healthcare sector, conducting in-depth research in areas such as in vitro diagnostics, medical devices, next-generation interventional devices, radionuclide therapy, and innovative antibody drugs. It is committed to identifying outstanding enterprises with high technological barriers, broad market potential, rapid growth capabilities, and the resilience to thrive across economic cycles. Shanzheng Innovation is dedicated to working hand-in-hand with exceptional entrepreneurs to forge ahead and jointly embrace a promising era of innovation.

Changshu Wuyue Angel Venture Capital Partnership (Limited Partnership) was established on May 5, 2023, jointly initiated by Changshu Development Investment, Suzhou Angel Fund of Funds, Changshu Kaisheng, and Changshu University Science Park. The fund is co-managed by Changshu Guofa Venture Capital and Suzhou Yuanhe Origin, with a total size of RMB 500 million and an initial closing size of RMB 180 million. Focusing on six emerging industries—new energy materials and components, autonomous driving and smart cockpits, semiconductor materials and devices, high-end equipment and new materials, acoustics, and biopharmaceuticals and medical devices—the Changshu Wuyue Angel Fund prioritizes investments in seed-stage and start-up projects to support the innovative growth of early-stage enterprises.

Hefei Hongda, as a professional private equity investment firm, focuses on investing in growth-stage projects in the pharmaceutical, semiconductor, and technology sectors. Adhering to the philosophy of value-driven development and mutual success with investors, it collaborates with partners to create shared value.