On February 20, 2024 Evopoint Biosciences Co., Ltd. (hereinafter referred to as Evopoint) reported the company has successfully completed the Series E funding round with RMB 700 million (Press release, Evopoint Biosciences, FEB 20, 2024, View Source [SID1234656284]). This round of financing was jointly led by one of the leading venture capital firms in China and Guoxin Investment Group, along with the participation of a number of well-known institutions such as Jinan Industrial Development Investment Group, TH Capital, Yuekai Capital, Chenhai Capital, Pudong Venture Capital, and Zhuopu Capital, with the continued support of the old shareholders of Loyal Valley Capital, as well as with Start Point Advisors actingas the exclusive financial advisor for this round of financing.
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The funds raised in this round will mainly be used to promote the domestic and international clinical trials of multiple company pipelines, improve the three major technology platforms of independent innovation of targeted therapy, anti-infection and PROTAC, accelerate the operation of the production base aswell as the construction of the commercialization team, and push for an early product launch to benefit a vast population of patients.
Established in 2017, Evopoint Biosciences is an innovative biopharmaceutical company with extraordinary R&D and commercialization capabilities. Leveraging proprietary discovery platforms for targeted therapy, anti-infective and PROTAC, Evopoint has developed a robust pipeline of clinical assets featuringaβ-lactamase inhibitor, an EZH2 inhibitor, an hURAT1 inhibitor, next-generation ADCs, and many more preclinical programs in focused disease areas including oncology, infectious and metabolic diseases. The company has established multiple out-licensing partnerships with domestic and global pharma companiesto co-develop its assets for global markets. Potential value of these partnerships surpasses billion dollars. Since its inception, Evopoint is committed to improving human health by providing innovative pharmaceutical solutions to address greatest unmet medical needs globally.
Among these, XNW4107 is a new generation of β-lactamase-based broad-spectrumanti-drug-resistant bacterial drug independently developed by Evopoint, with strong antibacterial efficacy against the ever-increasing cases of carbapenem-resistant bacterial infections, such as the Carbapenem-Resistant Acinetobacter baumannii(CRAB), Pseudomonas aeruginosa (CRPA), and Enterobacteriaceae (CRE). This drugis currently undergoing critical, global multicenter Phase III clinical study.
XNW3009, a new generation of uric acid lowering drug, has entered Phase III clinicaltrials, having completed two randomized, double-blind controlled trials. In these two trials, XNW3009’s uric acid lowering effect was respectively shown to be far superior to those of the control groups – benzbromarone and febuxostat, the two drugs with the largest prescription volumes and the highest sales in the current Chinese market.
In the field of oncology, XNW5004, a new generation EZH2 inhibitor, has shown excellent anti-tumor efficacy in hematoma, prostate cancer and other indications, and is currently in Phase II clinical trials. It has entered in to a cooperation with MSD to carry out a clinical trial of co-administration with Keytruda.The new generation ADC drugs XNW27 and XNW28 are in Phase I clinical trials and have demonstrated significantly stronger efficacy and higher therapeutic window potential than competitors with the same target.
Relyingon its stellar product data and external licensing capabilities, Evopoint has entered into a number of external licensing cooperation with well-known companies both domestically and abroad, amounting to billions of USD in total, and is one of the companies that have reached the largest number of "License out"in the domestic biopharmaceutical field.
Since its establishment, the company has been highly recognized by investors, and has introduced domestic and foreign first-tier investment institutions, including Loyal Valley Capital, GIC, Oceanpine Capital, and CICC Capital. Meanwhile, the company has also received strong support from state-owned institutions such as Guoxin Investment Group, Jinan Industrial Development Investment Group, Yuekai Capital, Pudong Venture Capital, Guofa Venture Capital, Zhuopu Capital, and ABC International, and has received a cumulative total of more than RMB 2 billion in financing.
Evopoint will continue to work with determined confidence, maintaining the enthusiasmand motivation that will assemble in to a collective effort to create a better future.
Investment institutions of Series E funding round stated: I am pleased to participate in the Series E funding round of Evopoint. Evopoint is an innovative drug company that focuses on significant unmet clinical needs. Since the last round of funding,the company has demonstrated impressive execution, and several products are about to enter the market validation stage. The company has completed the transition from a "product-based" company to a "platform-based" company, and has built several leading technology platforms. Based on the efficient R&D system and its excellent capabilities, the company is actively going overseas and has completed the "License out" of many overseas pipelines’ interests. We are firmly optimistic about the founding team and product pipeline of Evopoint, and hope that this round of funding can help the products enter the market and benefita vast population of patients.