Helios-Huaming raises RMB10 million in Pre-A round financing
Recently, BioBay-based Helios-Huaming reached an agreement with Oriza Horizon and completed a RMB10 million Pre-A round financing.
Helios-Huaming aims to develop anti-cancer drugs targeting novel epigenetic enzyme goals, in a bid to provide new ideas for the treatment of advanced and metastatic tumors. Dr. Wang Yanming, Dr. Sun Jinquan, and Dr. Chen Gong, the Company's founding members, held three granted patents for inventions of inhibitors. The team’s studies on the target has been widely covered by media such as NIH and Science News. It is a first-in-class new drug target and there is no clinical study globally. In recent years several pharmaceutical giants have carried out a series of research projects centering on the target, and its functions in cancer and immunity related diseases such as arthritis, venous thrombosis, multiple sclerosis, and diabetic patients' callus have been continuously reported. Its potential market is reported to hit US$65 billion.
Dr. Wang Yanming, chairman of Helios-Huaming, noted that the late recurrence and metastatic tumors have posed a great threat to human health and lives: the terminal ill patients have a poor prognosis and the five-year survival rate is low. Helios-Huaming’s achievements in drug discovery are expected to inhibit development of tumors in situ and slow down recurrence of tumors. In particular, by modulating the interaction between tumor cells and immune cells to improve the tumor microenvironment, drugs under research will exert a unique potential to inhibit tumor metastasis, significantly prolonging the lifetime of tumor patient without recurrence and metastasis. Oriza Horizon’s confidence and financial support helped Helios-Huaming to embark on a fast lane drug discovery, laying a solid foundation for realization of the R&D goals in Series A round financing in the near future.
Dr. Sun Jinquan, the general manager of the company, said the rise of tumor immunotherapy brings a new hope for the treatment of cancer, which has transformed cancers from an incurable disease to a controllable chronic disease. However, how to avoid excessive activation of the immunity system and how to increase response to specific tumor have challenged the application of tumor immunotherapy. Therefore Helios-Huaming hopes to provide new targets and ideas for the control and modulation of the tumor microenvironment. After settling in X-BioTOP, partners of the public maker have assisted Helios-Huaming to complete a series of missions, facilitating settlement and A round financing. Dr. Sun expressed his appreciation to X-BioTOP for its help and best wishes to the public maker.
Zhao Qun, the Oriza Horizon partner, said, “Dr. Wang Yanming has attained great accomplishments in the epigenetics field. Helios-Huaming boasts novel targets and good prospects. Its R&D team is internationally competitive. We are very glad to support its development and appreciate X-BioTOP’s efforts in incubating such excellent projects like Helios-Huaming.”
About Oriza Horizon
Oriza Horizon is a subsidiary of Suzhou Oriza Holdings Co. Ltd., a market-based professional early-stage equity investment platform. It focuses on investment opportunities in infant and growth-stage startups in the two major fields of healthcare and TMT. The total size of the six funds under its management is about RMB2.5 billion, including both VC funds, and angel funds for investment opportunities in Beijing, Shanghai, Guangzhou, Shenzhen, Suzhou and Hangzhou. Oriza Horizon boasts a professional investment team, rich investment experiences, and resource accumulation in the healthcare field. As of the end of December 2017, Oriza Horizon had invested in more than 80 innovation enterprises such as Ascentage Pharma, Cstone Pharmaceuticals, EpimAb Biotherapeutics, Qide Pharmaceuticals, JW Therapeutics, Beijing Biocytogen, Osmunda, Augus Medical and CANHELP Genomics.
X-BioTOP is an early-stage cutting-edge project incubator managed by Suzhou BioTOP Technical Service Co. Ltd. Adjacent to BioTOP public laboratory platform, it is dedicated to integrating the rich industrial resources and mature service system of BioBay to provide ready offices and laboratories for early-stage innovators and basic office services + startup services and experiment services, in a bid to help rapidly launch infant innovation projects in the life science field in the asset-light model as well as focus on developing first-in-class products and technologies.
X-BioTOP was put into operation in early 2017 and is currently incubating 27 projects, among which five have graduated and successfully entered BioBay. Since its establishment, seven projects have been rated as the industrial leaders of the Suzhou Industrial Park (SIP), and four completed about RMB100 million of financing in the incubation period. Meanwhile, the public maker has cooperated with Oriza Horizon, BioVenture, and Mint Angel Fund among other professional investment institutions to create a favorable capital support environment. X-BioTOP has been recognized as SIP's biomedicine innovation incubator and a public maker by Suzhou and Jiangsu province as well.