Zhiyi Biotech Raised Nearly CNY100 Million B+ Round of Financing to Accelerate the Development of LBPs Pipeline
Release Time: 2021-09-22
Recently, Guangzhou Zhiyi Biotech announced that it has received a funding approval from Qingkong SinoKing Capital for nearly CNY 100 million. This series B+ funding will be used to accelerate the development of the company’s pipeline and to build the R&D platform. This is another new funding after the Series B round funding of CNY 110 million.
Zhiyi is a leading biotech in live biotherapeutics (LBPs) and next-generation probiotics in China. It has established Guangdong Provincial R&D Center of LBPs and built Guangzhou Innovation Leading Team. Zhiyi has established a complete technical system for the isolation and identification of new functional strains as well as the development of new live biotherapeutics and active ingredients. Zhiyi also has a complete industrialization platform from preclinical to NDA. Based on this platform, the innovative drug SK08 (Bacteroides fragilis) was approved for clinical trial by NMPA in November of 2019, now it is undergoing phase II study. SK08 is the first LBPs in clinical stage in China and it has immense influence in this industry.
Currently, Zhiyi is carrying out a phase II clinical study of SK08 indicated for IBS-D. The clinical study is led by well-known digestive experts, Professor Minhu Chen and Professor Yinglian Xiao from the First Affiliated Hospital of Sun Yat-sen University, and volunteers has been enrolled in hospitals such as Guangzhou, Beijing, Shanghai, Nanjing, Wuhan and so on. The company’s second innovative program, SK10 for Chemotherapy induced diarrhea, is also about to be IND. Another new program, combination with immune checkpoint inhibitors, will also be developed to the clinical stage. At the same time, there are a number of programs that are advancing quickly and orderly.
“Zhiyi has accelerated new strains and new programs in our pipeline, which is an achievement resulted from our team’s deepening know-how and continuous R&D in LBPs. We are very confident that Zhiyi will become a co-leader in LBPs field in global market within a few years. We are grateful to the old shareholders for lasting support. This is a great affirmation for us.” Said Dr. Ye Wang, CEO of Zhiyi Biotech.
Qingkong SinoKing Capital stated, “LBPs is the frontier direction in global innovative biotechnology. We are very concerned about the progress of the top players in this field. After our participation in series A round, Zhiyi Biotech quickly and efficiently promoted SK08 to be approved for clinical trial and entered phase II, demonstrating their deep understanding of LBPs and execution ability. We believe that Zhiyi has become the domestic leader in this field and their enriching pipeline will meet more clinical demands.”
About Qingkong SinoKing Capital
Established in 2013, backed by the advantages of Tsinghua’s resources in production, learning and research, adhering to the concept of ” based in technology, applied to finance” to cultivate strategic emerging industries and financial capital markets, Qingkong SinoKing Capital has become an important force for Tsinghua industry to promote synergized development of the integration of industry and finance. It is a professional institution among the member enterprises of Qingkong Asset Management Group under Tsinghua Holdings focused on industrial investment and asset management. Up to now, the total scale of Qingkong SinoKing Capital Management Fund has exceeded CNY 25 billion.
Qingkong SinoKing Capital focuses on long-term investment in high-tech fields. The company hopes to invest in enterprises led by entrepreneurs with high-quality personality and vision, and investment is focused on long-term growth opportunities resulting from technology innovation. The investment area is strategic emerging industries, including information technology, biotechnology, energy and environmental protection, integrated circuits, artificial intelligence, and smart manufacturing. It has led and assisted a series major investment and M&A up to CNY 100 billion: Maxscend, Will Semiconductor, Solartron, Spreadtrum Communications, RDA, H3C, Wison Energy, TUS-EST, OmniVision, Zhiyi Biotech, Huaqin Technology, Bozhon Precision, Haoda Electronic, Tianyancha, Sealmann and etc.