E-nitiate Biopharmaceuticals Biologics Completes Series A Financing of 100 Million RMB In-depth layout around skin and autoimmune disease
April 27,2023E-nitiate Biopharmaceuticals


(hereinafter referred to as "QYB") announced the completion of a Series A financing round of 100 million RMB, led by Time Investment and followed by Taikun Fund, Linping State Investment and Hangzhou Golden Investment Industry Fund. This round of financing will be used to advance the clinical development of several pipelines, including QY201 and QY101, and further help the company expand its R&D pipeline.

Founded in late 2020 by VIVOTEK and Beta Biomedical Industry Fund, QYB is dedicated to the development of innovative drugs for dermatology and autoimmune diseases through independent research and development, technology licensing and strategic collaborations to develop breakthrough drugs that address unmet patient needs and improve the quality of human life.

As a key project introduced by Hangzhou Linping National Development Zone, E-nitiate Biopharmaceuticals Biologics has received tens of millions of RMB in angel investment from Baida Fund and has entered into a strategic partnership with Baida Pharmaceuticals. This financing is E-nitiate Biopharmaceuticals Bio's first public external financing since its inception, and is an important milestone in the company's development history as it has been recognized by a market-based professional medical fund.

Starting from the market side and unmet clinical needs, E-nitiate Biopharmaceuticals Biologics has made forward-looking layout for skin-related autoimmune diseases such as atopic dermatitis and psoriasis, developed highly differentiated molecules on its own, and holds global patents with industry-leading R&D progress. In less than 2 years since its establishment, E-nitiate Biopharmaceuticals Biologics has assembled a distinguished team of senior scientists with combined experience in preclinical development, clinical management, and commercial collaboration of successful innovative drugs. With the team's efficient execution, QY201 and QY101 have been advanced to the clinical stage, and several pipelines of IND filings are imminent.

This step in the capital winter is an unforgettable and valuable experience for the QYB team as well as for me personally, said Ding Shizhe, CEO of QYB. The epidemic and market sentiment significantly increased the difficulty of communication and advancement in our financing process, which was stressful but also pushed us to continuously improve our self-assessment and resource optimization. The E-nitiate Biopharmaceuticals Bio team is young, but we are very diverse, and our execution and self-drive are undeniable. I would like to sincerely thank Dr. Wang Shen for his continuous support and dedication to E-nitiate Biopharmaceuticals Bio. Dr. Shen is a top scientist in the industry and the pioneer of the strategic layout of our pipeline, and I feel very fortunate that our pipeline was developed and advanced with his assistance and guidance. Finally, I am very grateful for the trust and understanding of this investment institution, and I believe that with the joint efforts of everyone, This is only the beginning for E-nitiate Bio.

Dr. Jun Shi, Chief Medical Officer of E-nitiate Bio, said that under the harsh realities of 2022, we uphold our innovation-driven underpinnings, attract and train many industry elites, solidify our innovation strength, and efficiently develop patient-centered, hard-core products with real clinical value. In less than two years, two projects have entered clinical development and are progressing well, and several projects are ready to enter the clinic or the next clinical stage. E-nitiate Biopharmaceuticals Bio's strategy is to focus on the blue ocean dermatology field with a low profile and pragmatic approach. The first step is to enter the domestic market for skin self-exemption with efficiency and quality, and the second step is to address unmet clinical needs with differentiated drug development, and eventually become the market leader in dermatology with global FIC products. We thank our investors for their recognition of E-nitiate Biopharmaceuticals Biologics in this round, and we will continue to build the innovation of the company, improve the efficiency and quality of clinical development, and make the products and technologies better serve the clinic and solve the unmet clinical needs, which we firmly believe is the fundamental cornerstone of sustainable development of the company.

Nan Zhang, Managing Partner of Time Zone Ventures, said that E-nitiate Biopharmaceuticals Bio has leveraged its strengths to differentiate and anchor itself in the high-growth dermatology and pediatrics fields and rapidly advance clinical development, which has high investment value and is worthy of future development." Guo Si Zhou, Investment Director of Seasonal Ventures, said, "E-nitiate Biopharmaceuticals Bio has integrated a first-class drug discovery, clinical development and market expansion team, and obtained 2 IND approvals within 18 months, reflecting the team's efficient execution; as a venture capital institution focused on early stage life and health, Seasonal Ventures will continue to help E-nitiate Biopharmaceuticals Bio advance its subsequent pipeline to meet more un meet clinical needs for the benefit of more patients.

Linping State Investment said that in recent years, biomedicine has been a key national support development industry. Linping District has always supported the better and faster development of high-quality enterprises and projects in the field of biomedicine, taking into account the characteristics of the industry in the district and in line with the development trend of the industry. E-nitiate Biopharmaceuticals Bio is backed by Beda Pharmaceutical, a listed company in the district, and focuses on the research of small molecule innovative drugs in the field of self-exemption. We hope that E-nitiate Biopharmaceuticals Bio will become stronger, bigger and deeper in the future and contribute to the ecological convergence of the pharmaceutical industry in the district.

Wang Huaping, the chairman of Hangzhou Golden Investment Industry Fund, said that domestic autoimmune disease drugs have great growth space in the future, and E-nitiate Biopharmaceuticals Biologics is a pioneer in the research and development of innovative drugs in the field of autoimmune diseases, with its product development progress at the forefront in China and rich clinical pipeline and preclinical reserve varieties, which is expected to drive the vigorous development of Hangzhou's biopharmaceutical industry chain in the future.

As the exclusive financial advisor of the transaction, Xiyuan Zhitong said, China's innovative drug industry is entering a new generation and cycle, and E-nitiate Biopharmaceuticals Biologics is the product of BioPharma and Biotech's innovative cooperation model in this era, which has remarkable demonstration effect and pioneering significance and represents a new stage of industrial integration. We are honored to participate as a counterparty and wish E-nitiate Biopharmaceuticals Biotech a new era for the industry.


About Seasonal Ventures

Seasonal Ventures is a venture capital fund focused on early-stage innovative companies in the life and health sector, dedicated to uncovering and nurturing revolutionary and disruptive innovative technologies. The fund works closely with industry to connect portfolio companies with resources to help accelerate their growth and promote the industrialization of technology. The fund's main investment areas include: biopharmaceuticals, CXO, reagents and consumables, instrumentation, cell/gene advanced therapies, and pharmaceutical digitization.


About Tykun Fund

Tykun Fund is a biopharmaceutical industry fund jointly launched by Tigermed, Hangzhou Capital and Hangzhou High Tech Venture. Relying on the industrial layout of Tigermed's clinical CRO and in line with the development strategy of Hangzhou's pharmaceutical industry, Taikun Fund adopts market-oriented operation and focuses on innovative medical devices, biopharmaceuticals, medical services, medical informatization, digital therapies, intelligent manufacturing, nutritional health and other enterprises in the life and health industry.


About Linping State Investment

Ltd. is a wholly state-owned enterprise approved by Hangzhou Linping District Government and is responsible for the investment and operation of the district government's industrial guidance fund. "It will support the projects in the leading industries such as high-end equipment manufacturing, life health, fashion industry and industrial internet in Linping District, guide the financial capital to better support the development of real economy, science and technology and industrial innovation, and promote the innovation and entrepreneurship level and industrial transformation and upgrading in Linping District. level of entrepreneurship and industrial transformation and upgrading.


About Hangzhou Golden Investment Industrial Fund

Ltd. was established in February 2015 with a registered capital of RMB 50 million, and is a professional management platform for industrial investment and financing business under Hangzhou Financial Investment Group. Adhering to the company's positioning of "rooted in industry, serving the entity", Gold Investment Industry has built a double engine of equity investment and capital market business, focusing on big manufacturing, hard science and technology, big health and other fields, actively participating in the transformation and upgrading of traditional industries, accelerating the layout of strategic emerging industries, through mother funds, equity funds, special funds, mezzanine investment, merger and acquisition funds, securities investment and investment consulting, etc. We provide comprehensive financial services to leading enterprises and listed companies in various segments of the real economy through various means, including but not limited to stock pledging, fixed income, bulk trading, industrial M&A funds, convertible bonds and exchangeable bonds.


About StartPoint

StartPointAdvisors is a financial advisory firm specializing in the healthcare industry. The firm was established in 2020 and has a team of experienced practitioners from well-known institutions in the industry, with offices in Beijing, Suzhou, Hangzhou and Guangzhou. Since its establishment, the firm has completed full coverage of the healthcare track and has a good reputation and reputation for practice in the industry, and is currently one of the most representative emerging investment banks in the healthcare sector in China.