Biocytogen Completes a New Round of Financing Totaling Tens of Millions of Dollars
BEIJING and BOSTON, June 22, 2021 /CNW/ -- Biocytogen, an international biotechnology company focused on antibody drug research and development (R&D) using innovative genetically engineered animal models, today announced the successful completion of a new round of financing totaling tens of millions of dollars. The financing was jointly completed by Lake Bleu Capital, CPE, Octagon Capital and OrbiMed.
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. was established in 2009. Using its foundational gene editing technology, the company independently developed mouse platforms for fully human antibody discovery, RenMab® and RenLite®, that have independent intellectual property rights. With the implementation of these platforms, Biocytogen has evolved from a contract research organization (CRO) into an international biotechnology company with expertise spanning the entire process of new drug R&D, including antibody drug target verification, high-throughput single B cell antibody discovery technology, in vivo drug efficacy evaluation using humanized target mice, and clinical development.
Genetic engineering of RenMab® and RenLite® mice has enabled the integration of Biocytogen's technological strengths into a unique large-scale R&D plan for the discovery of therapeutic antibodies, an initiative termed the RenMice HiTS Platform. The HiTS Platform signifies the company's commitment to complete high-efficiency antibody discovery and in vivo drug efficacy screening of more than 1,000 antibody targets in the next few years, focusing on the discovery of first-in-class and best-in-class drug targets. Through the identification of antibody leads that have been verified for efficacy in animal models, Biocytogen has established co-development partnerships with more than a dozen biotechnology and pharmaceutical companies.
Dr. Yuelei Shen, founder and CEO of Biocytogen, said:
"In the two months from initiation to completion of this round of financing, the company has received extensive attention and recognition from top biomedical funds and long-term investment institutions. New shareholders with outstanding reputations are very welcome to join the Biocytogen family.
Paying attention to the R&D and innovation of the underlying technology is the cornerstone of our development. After more than ten years of large-scale R&D investment, we have achieved good results in the fields of super-large fragment gene editing technology, fully human antibody gene mouse development technology, and bispecific antibody development technology. These breakthroughs in the underlying technology have enabled the company to continue to explore in the fields of monoclonal antibodies, bispecific antibodies, bispecific antibody-ADCs, and nanobodies.
The antibody drug molecules YH003 ([anti-]CD40) and YH001 ([anti-]CTLA-4) independently developed by Biocytogen and its wholly-owned subsidiary, Eucure Biopharma, are in phase I clinical trials in Australia in combination with Junshi Biosciences' PD-1 antibody Toripalimab. Both show excellent safety and good drug efficacy. The in vivo experimental data of YH003 and YH001 have been well verified in the preclinical stage, fully demonstrating the high reliability of the biopharmaceutical research and development method that uses animal efficacy data as the "gold standard" for drug preclinical screening."
For more about this fundraising initiative, click here.
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Jenna Frame
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SOURCE Biocytogen
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