On October 30, 2022, the company's Chairman and Chief Scientist, Dr. Wang Shen , Chief Executive Officer, Mr. Kevin Ding, and Chief Medical Officer, Mr. Jun Shi , were interviewed by Zhejiang Jing TV's "Creators World" to exchange and share their experiences around the company's development, the prospect of the pharmaceutical industry, and innovation and entrepreneurship.
How did you meet Dr.Wang Shen , what was the original intention of founding E-nitiate Biopharmaceuticals, and why did you choose to land in Hangzhou?
Mr. Ding said that he met Dr.Wang Shen again in 2020 at the "Creators World Competition", where Dr. Shen's "drug research project for the treatment of atopic dermatitis" won the first prize in the life and health category of the national finals. Before that, Dr. Shen was already a highly recognized scientist in the industry.
"Hangzhou is a city full of passion and striving. Entrepreneurship, first of all, represents a courage, as entrepreneurs, we can not be afraid of failure, listen more to all kinds of comments, but do not become an obstacle to move forward; secondly, the need to be resilient, we should respect those who are 'at the top of the mountain' or 'on the way down' more, thanks to them for providing many opportunities and platforms for innovation". Ding Shi Zhe said in an interview.
Dr. Wang Shen said that through the Creators World Competition, he learned that the Hangzhou government supports the biomedical industry, a new type of high-tech industry, very strongly, so he decided to found E-nitiate Biopharmaceuticals with Mr. Ding and land in beautiful Hangzhou on the shore of Xizi Lake.
Why did you choose to do the field of self-immune disease - dermatology?
Dr. Wang Shen said that when he started the business in 2016, there were already many innovative drug companies in China crowded in the field of cancer drugs, whether it was a large molecule or small molecule track, the targets chosen were very close to each other, and the future development had certain limitations. Even though the Chinese market is large, the accommodation of each target is not high and doing anti-cancer drugs will be more competitive. In addition, China's population is aging and age-related diseases will gradually increase in the future. When the living standard of the society is poor, people will pay much attention to the diseases related to death, but as the living standard gradually improves the diseases related to the quality of life, such as eye and skin disease problems will get more attention, with the development of the times Chinese people's living standard is improving, the demand for therapeutic drugs to improve people's quality of life is greatly increased.
Dr. Shi Jun said that the field of new drugs for self-immune diseases-dermatological diseases has long been an uncultivated virgin land, and only in recent years have there been some large and small molecule targeted drugs that bring new hope to this field. The products developed by E-nitiate Biopharmaceuticals belong to a new generation of improved version in terms of target selectivity and activity, and we are also actively laying out large molecule drug therapy. We hope to bring differentiated therapeutic effects to patients through precision treatment, and strive for better efficacy and lower incidence of adverse reactions than standard of care. In addition, E-nitiate Biopharmaceuticals's products can improve the accessibility of innovative drugs.
Kevin Ding said that in recent years, the biopharmaceutical industry investment and financing ushered in a period of rapid growth. 2022, due to external capital environment and other factors, the biopharmaceutical industry investment and financing enthusiasm than in the past growth rate slowed down and more cautious, the market tends to be rational. The fact that the company was able to complete nearly 100 million yuan of financing in the current more rigorous investment climate is also a sign of affirmation from the market and investors that the survival and recognition of innovative drug companies is crucial for E-nitiate Biopharmaceuticals.
What is E-nitiate Biopharmaceuticals's innovative partnership model as a startup?
E-nitiate Biopharmaceuticals's rapid development from landing to startup and from growth to metamorphosis cannot be achieved without the support of Beyerdahl Fund and Beyerdahl's industrial ecosystem.
Mr. Ding said that the establishment of E-nitiate Biopharmaceuticals was like a good seed, and Beyeda (the fund) gave sunlight, water and soil, so that E-nitiate Biopharmaceuticals could grow well. First of all, Beda is an angel investor, and this support is very important. Secondly, Beyerdahl's assistance in personnel, technology, and networking has helped E-nitiate Biopharmaceuticals to take many detours. E-nitiate Biopharmaceuticals is now able to stand on its own, relying on the unremitting efforts and diligent cooperation of Beda's team members to develop gradually.
"After we completed our financing in September, there was a significant upgrade in the team's personnel framework. In medical and clinical development, very diversified talents are laid out, who come from multinational pharmaceutical companies, domestic head pharmaceutical companies, CRO service organizations, and even clinicians, with rich experience in compounding. There are also many aspects that need to be honed, which is a sure way to grow and an exciting future to look forward to".
At present, E-nitiate Biopharmaceuticals has formed a team of scientists with successful new drug development experience in the whole stage from early stage new drug development to clinical translation and clinical management, with master and doctoral talents accounting for over 70%. 2022, the company has also set up a new Shanghai Medical Center, and the Shanghai R&D Center is also in the preparation stage.
