Atom Therapeutics Secures Over RMB 600 Million in Series D Funding and Files for Hong Kong IPO

Atom Therapeutics recently completed its Series D financing round, raising over RMB 600 million. This round of financing saw participation from both existing and new investors, led byKaitai CapitalLead Investor,Fortune Capital, Huajin Investment, Unifortune, New InvestmentCo-investmentCITIC Securities, Fangyuan CapitalServed as the company's financial advisor.

Upon the completion of this round of financing, the company’s total fundraising amounts to approximately RMB 1.2 billion.The proceeds from this Series D financing will be primarily used to complete the pivotal clinical studies of ABP-671 globally and in China, as well as to further advance the research and development of its innovative drug pipeline for the treatment of inflammatory diseases and other conditions.

Atom Therapeutics currently has multiple products in various stages of preclinical and clinical development, including those used forTreatment of Chronic GoutThe Class 1.1 innovative drug ABP-671 has initiated pivotal clinical trials globally. ABP-671 works by inhibiting the renal urate transporter 1 (URAT1), thereby facilitating normal urinary excretion of urate and achieving the goal of lowering serum uric acid (sUA) levels. The primary clinical endpoint is to reduce sUA to the target level of <6 mg/dL (360 μmol/L).

In two Phase 2 clinical trials evaluating various doses of ABP-671 (ranging from 1 mg to 12 mg, administered once daily), ABP-671 demonstrated favorable efficacy and safety. Clinical trial results indicated that the efficacy of ABP-671 at a once-daily dose of 2 mg may be equivalent to or superior to that of the maximum 80 mg doses of benzbromarone and febuxostat. In the 6 mg and 8 mg dose groups of ABP-671, 100% of subjects achieved the primary clinical endpoint of serum uric acid (sUA) levels < 6 mg/dL. Notably, 100% of subjects achieved sUA levels < 5 mg/dL (300 μmol/L), with more than 57% and 87.5% of subjects in the respective groups achieving sUA levels < 4 mg/dL (240 μmol/L); some subjects even achieved sUA levels < 3 mg/dL (180 μmol/L). Following a single 12 mg dose in the high-dose group, 100% of subjects achieved sUA levels < 4 mg/dL. Administered once daily, ABP-671 maintained efficacy over a full 24-hour period, and no significant safety concerns were observed compared to the placebo group.

Maintaining serum uric acid levels within the range of 4–5 mg/dL in gout patients is recommended by gout treatment guidelines in many countries. This approach facilitates the dissolution of tophi, reduces their size and number, and lowers the frequency of acute gout flares—a therapeutic target that is difficult to achieve with most currently available medications on the market. The core patent for ABP-671 has been granted in over 70 countries and regions.

Gout is caused by long-term hyperuricemia (serum uric acid [sUA] levels exceeding 7 mg/dL or 420 μmol/L). Globally, there are over 50 million patients with gout and more than 200 million individuals with hyperuricemia, including nearly 10 million gout patients in the United States. Gout severely impairs quality of life and increases the risk of sudden cardiac death and renal impairment. Existing medications for chronic gout demonstrate suboptimal efficacy and pose significant safety concerns, such as renal failure, sudden cardiac death, or severe hepatotoxicity. Current therapeutic options for gout fall far short of meeting clinical needs.

Dr. Shi Dongfang, Founder, Chairman, and CEO of Atom TherapeuticsIt stated: “ABP-671 demonstrates favorable efficacy, safety, and tolerability, showing promise as a best-in-class therapeutic agent in this field. In terms of safety, ABP-671 exhibits an excellent profile; all adverse events (AEs) were Grade 1 or Grade 2, with the majority being Grade 1. The incidence rate was comparable to that of the placebo group, and no serious adverse events (SAEs) occurred. A completed mass balance clinical trial evaluating drug absorption, metabolism, and excretion confirmed that over 90% of ABP-671 is excreted unchanged from the body, without generating any metabolites similar to those of benzbromarone that cause hepatotoxicity.”

“We observed a substantial reduction in serum uric acid (sUA) levels in all subjects receiving ABP-671; therefore, we also plan to initiate the development of ABP-671 for the treatment of refractory gout. In addition, our Pre-IND application for ABP-745, indicated for inflammation and acute gout, was submitted to the U.S. FDA this August, with IND submissions in both China and the United States expected in November.” Dr. Shi further stated, “We extend our sincere gratitude to each investor participating in this Series D financing round as well as our early-stage investors. It is a great honor to have your trust and support. We are committed to bringing our innovative, independently developed, potential best-in-class drugs to the global market, thereby benefiting gout patients worldwide.”

Mr. Li Xian, Partner at Kaitai Capitalstated: “Congratulations to Atom Therapeutics on the completion of its latest round of financing. We are also honored to have the opportunity to participate once again in this new funding round. As one of the company’s earliest institutional investors, we have had the privilege of witnessing its rapid development. Dr. Shi and the Atom Therapeutics team have demonstrated impressive innovation and execution capabilities. The company’s lead candidate, ABP-671, has already yielded highly competitive clinical data in the field of gout. We look forward with great anticipation to the ongoing global pivotal clinical studies and are pleased to see that more of the company’s pipeline candidates for metabolic and inflammatory diseases are poised to enter clinical stages, bringing therapeutic hope to a broad population of patients with chronic diseases.”

Atom Therapeutics is an innovative biopharmaceutical company dedicated to the development of Best-in-Class novel drugs for diseases in the fields of metabolism and inflammation, having achieved significant progress in recent years. The company’s core product, ABP-671, is currently in late-stage clinical development for the treatment of chronic gout. Another small-molecule innovative drug, ABP-745, has demonstrated significant efficacy and a favorable safety profile in indications within the anti-inflammatory and autoimmune sectors.

Kaitai Capital, established in 2009, is an innovative capital management firm focused on investments in biopharmaceuticals and life sciences, artificial intelligence and digital technology, as well as data intelligence and tech-driven consumer sectors. With a global perspective, forward-looking industry research, and an investment philosophy centered on industrial ecosystem development, Kaitai Capital has invested in and strategically positioned itself in more than 100 biopharmaceutical and life sciences enterprises both domestically and internationally, initially forming a collaborative industrial ecosystem. The firm has built an ecologically integrated investment portfolio across therapeutic areas including oncology, autoimmune diseases, metabolic disorders, anti-infectives, respiratory diseases, cardiovascular diseases, neuroscience, nephrology, ophthalmology, dermatology, as well as in gene therapy and cell-based drugs, pharmaceutical manufacturing, innovative biotechnologies, and the broader health and wellness industry.

Fortune Capital is one of the most influential venture capital firms in China. With its outstanding performance, Fortune Capital has consistently ranked among the top in evaluations conducted by authoritative institutions such as the China Venture Capital and Private Equity Association (CVCA), Zero2IPO Group, CVSource, and Financing China. It has been listed among Zero2IPO’s “Top 50 Best Venture Capital Firms in China” for 22 consecutive years, ranking first in 2012 and 2015, and maintaining a position among the top three domestic venture capital firms over the past decade. Furthermore, in the evaluations of private equity fund managers invested by insurance funds conducted by the Insurance Asset Management Association of China (IAMAC) in 2020, 2021, and 2022, Fortune Capital was rated as a Class A institution with high scores for three consecutive years.

Currently, Fortune Capital manages funds totaling nearly RMB 50 billion, has invested in over 730 companies, and successfully exited from 278 of them. Among these, 142 companies have gone public, and a cumulative total of 103 companies have been listed on the National Equities Exchange and Quotations (NEEQ). The portfolio includes numerous prominent publicly listed companies such as Aier Eye Hospital, EVE Energy, Wangsu Science & Technology, CanSino Biologics, Mingyuan Cloud, Shangpin Home Collection, Huayou Cobalt, H&T Intelligent Control, G-bits, BlueFocus, Sunner Development, Hotgen Biotech, Hybribio, and OPM Bioworks.

Huajin Investment is an investment platform under Huafa Group, a state-owned enterprise in Zhuhai and one of China’s Top 500 Enterprises. With total assets exceeding RMB 700 billion, Huafa Group is the largest comprehensive corporate group in Zhuhai, ranking 169th on the “China’s Top 500 Enterprises” list. In the field of industrial investment, Huafa Group focuses on core sectors such as new energy, semiconductors, and big health. Its investment entities include multiple platforms such as Huajin Capital, Infinity Group, and Zhuhai Science and Technology Innovation Investment. Among them, Huajin Capital has been repeatedly listed among Zero2IPO’s “Top 50 Private Equity Firms in China.” To date, Huafa Group has invested in nearly 400 industry-leading and high-growth innovative companies. Portfolio companies include Gokin Solar, Aiko Shares, Qinghai Lihao, CosMX Battery, Sunwoda, Narui Radar, Chipone, and MGI Tech.

Guided by its mission of “New Finance, New Life, New Ecosystem,” Xinyi Investment primarily invests in sectors such as clean energy, ecological conservation, healthcare, biopharmaceuticals, and intelligent manufacturing. Leveraging abundant and diversified industrial resources, it has built robust capabilities and strategies in integrated industrial-financial investment. The firm focuses on growth-oriented investments in cutting-edge innovative technologies at the forefront of core industries, nurturing and empowering “hidden champions” in niche segments. It also pursues M&A-driven value investments to capitalize on opportunities for upgrading and restructuring core industries, helping strategic partners become “value leaders” in their respective fields. By introducing core industries and forming capital alliances with local governments to establish industrial funds, Xinyi Investment builds regional industrial ecosystem development platforms, facilitating industrial transformation and upgrading as well as high-quality economic development in these regions.

New Investment has successfully managed dozens of industrial funds, M&A funds, and a wide range of M&A restructuring, asset management, and financial advisory services, including the Beijing Xin’ao Jianyin Energy Fund, Hebei Lantian Environmental Protection Fund, Yiyue Health Fund, Pingyang Xinyi Tourism Fund, China Reinsurance New Investment Fund, Nongyi Resources and Environment Fund, Guoxin Industrial Fund, and Xinsheng Industrial Fund, with cumulative assets under management exceeding RMB 20 billion.

Unifortune Group was founded in 2011. Adhering to the philosophy of “empowering finance with technology, serving industries through financial services, and contributing to the nation through industrial development,” it has deeply participated in China’s economic growth and industrial upgrading, striving to become a comprehensive holding group led by technological innovation and dedicated to serving the real economy. Unifortune focuses on asset management and investment businesses, including equity investment, industrial investment, and special opportunity investment. Its subsidiaries include Qiandao Investment Fund Management Co., Ltd., which concentrates on pharmaceuticals, medical technology, advanced manufacturing, and new energy, as well as China Xinxing Asset Management Co., Ltd., a mixed-ownership subsidiary of a central state-owned enterprise, among other member companies.

Unifortune’s investments in the healthcare sector focus on high-quality segments such as innovative drugs, novel medical devices and equipment, healthcare services, and health technology. Its portfolio includes promising companies such as Jinlan Gene, Pharmaron, Ruiyi Technology, Biouptake, Enkase Therapeutics, Karti Medicine, Yaohai Bio-Pharma, Kailian Medical, and Litech.