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Biosion, Inc. Raises ¥200M RMB Financing to Support Further Global Development of Its Innovative Pipeline
Newark, DE, Nanjing CN – Dec 10, 2020. Biosion Inc. (“Biosion”) today announced completion of ¥200 Million RMB (~$30 Million USD) of financing to transition Biosion into a clinical stage company within twelve months. The financing was led by Lapam Capital, joined by Kaiyuan Capital, Oceanpine Healthcare Fund, C&D Emerging Industry Equity Investment, and Zheshang Innovest.
“We are very grateful to the investors for their confidence and support in our innovative pipeline portfolio, our proprietary integrated technology platforms, as well as our senior management team. Funds from this round of financing will be used to support global clinical development of our innovative pipelines, and to strengthen our preclinical development capabilities of innovative discovery engine.” said Dr. Mingjiu Chen, Founder, Chairman and CEO of Biosion.
Mr. Zhihua Yu, the Chairman of Lapam Capital, said: “We are very optimistic for Biosion’s unique and differentiated innovation pipeline, their highly competitive technology platforms, and their development team with global pharmaceutical experience. We look forward to helping Biosion develop its innovative medicines to benefit patients world-wide.”
Biosion’s Chief Operating Officer and member of the Board of Directors, former Vice President of Janssen Pharmaceuticals, Dr. Hugh Davis said: “With our portfolio of over a dozen high-quality preclinical assets from our unique discovery platforms, we are confident that we will be able to quickly advance the global IND filing and clinical development, thus transforming Biosion into a clinical stage biotech company."
About Biosion, Inc.
Biosion is a global R&D biotech company developing innovative therapeutics in the fields of immuno-oncology and immunologic diseases. The company is building its proprietary pipeline through internal R&D programs, co-development programs with partners and in-licensing efforts.
The Company integrates several internally-derived proprietary technologies,including its H3 hybridoma platform, SynAbTM synergistic antibody technology, SynKronTM bispecific platform, and SynTracerTM HT-endocytosis screening platform, to significantly accelerate its discovery efforts for novel molecules. The company has operations in Newark, Delaware and Nanjing, China. For more information and full pipeline details, please visit www.biosion.com
About Lapam Capital
Lapam Capital is a leading healthcare-focused venture capital firm in China and manages over 4 billion RMB funds. Lapam is the only biomedical professional investment institution that has received funding from the National Social Security Fund so far. Lapam Capital has invested in more than 50 innovative drugs and innovative medical device companies, including Betta Pharmaceuticals, RemeGen, Clover biopharmaceuticals, Binhui Biotech, Eyebright Medical Group, and many other industry elite companies. The number of domestic NDAs and new drugs approved in Lapam investment portfolio is among the best in the industry. Highly recognized in the industry, Lapam Capital is committed to providing their invested bio-pharmaceutical companies with comprehensive value-added services that may play a key role in the development of the company.
About Zhongguancun Kaiyuan Capital
Zhongguancun Kaiyuan Capital is an industry-finance linkage investment fund initiated by Zhongguancun Venture Capital, focusing on early-stage venture capital in the fields of information technology and biomedicine. Zhongguancun Venture Capital is a venture capital business platform under the Zhongguancun Management Committee and Zhongguancun Development Group. It mainly conducts venture capital through fund of funds investment and direct investment, and strives to promote the effective connection of technology and capital.
About Oceanpine Healthcare Fund
Oceanpine Healthcare Fund (“OHF”), a member of the Oceanpine Capital group, is a healthcare venture fund that aims to connect innovation in the US to the Chinese consumer base, and primarily invests in Chinese and US firms with core technologies and proprietary R&D capabilities. We bridge a supply and demand gap exacerbated by limited R&D in China. Our unique “Dual Market” strategy will help our portfolio companies with local resources and guidance, as well as providing diversification and value-realization for investors. We have established extensive partnership with academic institutions in the USA, such as University of Chicago, MD Anderson Cancer Center, etc., to bring the research projects from these institutions to China and achieve successful transformation of technology. Since our establishment, we have invested in multiple outstanding companies in both China and USA, including Human Longevity Inc. (Genome Technology), Edigene (Gene editing), Hua Dao Biotech (CAR-T), etc.
About C&D Emerging Industry Equity Investment
Established in 2014, C&D Emerging Industry Equity Investment is a corporate venture capital backed by Xiamen C&D Co. Ltd（234# of Fortune 500, 2020）and has become one of the most active players in direct equity investment and FoF market with over RMB 8 billion in capital under management. Our vision is to create value and support companies with high growth potential to achieve better development. We focus on investment in innovative and emerging industries such as healthcare, advanced manufacturing, and TMT/consumption.
About Zheshang Innovest
Zheshang Innovest manages the Zhejiang Zheshang Transform and Upgrade Fund of Funds Partnership（Limited Partnership）. It is the vice chairman member of Zhejiang Equity Investment Industry Association and the vice chairman member of Zhejiang M&A Federation. The fund of funds was established under the guidance of the Zhejiang Provincial Finance Office with an approved scale of 10 billion RMB.
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