Doer Biologics Received nearly 100 millions of RMB in A+ round of financing to promote the research of multispecific innovative biologics
On November 2th, 2020, Zhejiang Doer Biologics Corporation (hereinafter referred to as "Doer "), which focuses on the development of innovative multispecific protein drugs based on multi-domains, announced the completion of nearly 100 millions of RMB in A+ round of financing. The financing was led by Huarui Investment, followed by Haiyue Asset Management, and the old shareholders Kaitai Capitaland Hangzhou Bairui made additional investments. The funds raised will be used to promote the company’s clinical applications of three first-class innovative drugs and follow-ups in R&D and preclinical research.
Doer Biologics was founded by Dr. Yanshan Huang in 2014, who is a domestic biopharmaceutical research expert and serial entrepreneur. Dr. Huang has nearly 30 years of experience in biomedicine research, development and industrialization . Two biopharmaceutical marketing authorizations were achieved under his leadership in Hangzhou Jiuyuan Gene (the first recombinant rhG-CSF and rhIL-11 to be marketed in China) . He promoted the entry of multiple biological drugs into clinical research, and at the same time he presided over the completion of the clinical development of the first domestic long-acting biological drug based on albumin fusion technology and China's first biological drug production based on Pichia Pastoris expression system. Dr. Huang later co-founded Jiangsu Taikang Biology in 2008. He was responsible for establishing the technology platform and he promoted four improved antibody/long-acting protein drugs (Bio-better) into clinical research. Finally, he dominated the Mergers and acquisitions of Taikang Biology which brought nearly 10 times the return on investment within 6 years for investors. Dr. Huang founded Doer Biologics in 2014 and completed round A financing of tens of millions of RMB jointly funded by Kaitai Capital and Hangzhou Bairui in 2019.
Doer has developed 4 technology platforms with independent intellectual property rights: xLONGylation®, MultipleBody®, AccuBody® and SMART-VHHBody. It has developed a number of innovative multispecific protein drugs based on multiple domains using these platforms to address unmet clinical needs. At present, Doer has more than 10 innovative protein drugs under development. The research focuses on three important therapeutic areas: Metabolic disease(cardiovascular disease, diabetes, obesity, NASH), oncology and ophthalmology. And there are 3 first-class innovative drugs ready for clinical application. Among them, DR10624 is the world's first (first-in-class) long-acting tri-agonist. It has excellent hypoglycemic, lipid-lowering, weight-loss and liver-protecting activities. DR10624 is expected for the treatment of metabolic diseases such as diabetes, obesity and nonalcoholic fatty liver (NASH). DR10627 is a potential best-in-class dual-agonist, with good activities in lowering bloodglucose, lowering lipids, and protecting liver. The clinical indications are diabetes and NASH. DR30303 is the world's first therapeutic antibody against Claudin 18.2 developed based on the single domain antibody. It has extremely high anti-tumor activity and clinical indications are gastric cancer and pancreatic cancer.
Regarding for the successful completion of this round A+ financing, Dr. Huang, founder and CEO of Doer, said: "Thank you very much for the support of the inventors. Doer will continue to work hard to contribute to human health."
Yuding Wu, Investment Director of Huarui Investment, said: “Doer is the first domestic company to deploy multispecific biologics, and it is also an important partner of Huarui Investment in the field of biotechnology. Huarui Investment will accompany Dr. Huang steadily for a long time, assist Doer to promote the research and development of new drugs, solve unmet clinical needs, and make contributions to human health."
Nannan Chang, Chief Executive Officer of Kaitai Capital, said: "Doer has been deeply involved in the field of multi-domain biopharmaceuticals for many years, and has developed a number of globally competitive products. We are fortunate to participate in Doer and I believe that under the leadership of Dr. Huang, the team has the ability to bring more and better biological drugs to patients continuously.
Zhen Qin, Chairman of Haiyue Asset Management, said: "Doer has gathered excellent teams to overcome difficulties on the new track and develops rapidly. It will surely grow into an excellent star enterprise. Haiyue Asset Management has always been a loyal partner of excellent enterprises and we will accompany Doer to develop together in the future.
With the joinment of more investment institutions, Doer has formed a new close strategic community. Doer will contribute to Chinese innovative biopharmaceutical industry with more enthusiasm and "Doer spirit!"
About Zhejiang Doer Biologics Co. Ltd
Zhejiang Doer Biologics was established in 2014. Its R&D center is located in the Pharmaceutical Harbor Town of Qiantang New District, Hangzhou. It is a biopharmaceutical company focusing on the development of innovative multispecific protein drugs based on multi-domains. Doer has four technology platforms: xLONGylation®, MultipleBody®, AccuBody® and SAMRT-VHHBody. The product pipeline focuses on unmet clinical needs in the fields of tumor, metabolism, and ophthalmology, and has completed preclinical research of several multispecific biologic drugs. To learn more about doerbio, please visit the company website http://doerbio.com/
About Huarui Investment
Zhejiang Huarui Holdings Co., Ltd. was founded in 2002. It is the earliest private institution in China to raise and manage private equity investment funds. It was the first to put forward and practice the "investment + service" concept, and always adhere to the strategy of industrial investment and industrial chain layout. It is an investment management institution which pursuits being unique, professional, stable and reliable . There are more than 60 funds under Huarui Investment, with a management capital of more than 10 billions of RMB, and more than 170 investment projects. It has achieved a marketing ratio of more than 20%. It is one of the investment institutions with a large number of domestic investment projects and a high proportion of successful listings in China . Through investment, multiple industrial chains including biomedicine, digital economy, electronic information, new energy, and new materials have been formed. In the future, it will deepen the layout of new industries, strategically invest in core industrial enterprises, and create an industrial development platform. For more information about Sinowisdom, please visit the company website http://www.sinowisdom.cn
About Kaitai Captal Co. Ltd
KAITAI CAPITAL, founded in 2009, is a professional investment management organization mainly engaged in venture capital, private equity, and wealth management business. Fields of investment include biopharma, healthcare services, agriculture tech, consumer business, digital technology and etc. Currently, the asset under management of KAITAI CAPITAL has reached 50 billion RMB (USD$7.2B). With a global vision, forward-looking industry research and industrial ecological investment concepts in the field of life science and general health, Kaitai Capital has invested in more than 70 companies in life science and major health at home and abroad, and has initially formed an ecological industrial ecology. Inthe field of tumors, autoimmune diseases, metabolic diseases, anti-infection, respiratory diseases, cardiovascular diseases, neuroscience, nephropathy, ophthalmology, skin, gene therapy and cell medicine, pharmaceutical industry, innovative biotechnology and general health industry directions formed an ecological investment portfolio. For more information about Kaitai Capital, please visit the company website http://www.kaitaicapital.com
About Haiyue Asset Management
Established in 2009, Haiyue Asset Management is a wholly-owned subsidiary of the listed company Haiyue Energy Group Co., Ltd. (600387, SH). It is responsible for operating related businesses in the venture capital sector of listed companies. Mainly engaged in venture capital, asset management, fund management, etc., focusing on new energy, new medicine, new technology, new materials and other fields, participating in the establishment of multiple investment funds and venture capital management consulting agencies. To learn more about Haiyue Asset Management, please visit the company website http://www.chinahaiyue.com
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