Baoyuan Pharmaceuticals Closes on ¥100 Million in A Round Led by Decheng Capital

On May 15, 2019, Hangzhou-based Baoyuan Pharmaceuticals has secured $100M in Series A funding, led by Decheng Capital. This round of financing will be used to build the Baoyuan pharmaceutical team, carry out the phase 2 clinical trial of its product ab-106 under development, and further enrich the company's product pipeline.

Founded in November 2018 with a registered capital of 3.2 million yuan, Baoyuan Pharmaceuticals is a biotechnology company focusing on the clinical stage. It focuses on the acquisition, development, and commercialization of innovative drugs that can improve human health and quality of life.

At present, the main product under development of Baoyuan pharmaceutical is ab-106, an oral and highly selective ROS1/NTRK small-molecule inhibitor, which is mainly used to treat patients with ROS1 or NTRK fusion gene solid tumor and neuroendocrine tumor. Early clinical trial results showed that ab-106 had satisfactory safety and efficacy, and showed a longer progression-free survival in patients with ROS1 fused non-small cell lung cancer.

Baoyuan Pharmaceuticals was co-founded by Dr. Wang Junyuan, chief executive officer, Dr. Yan bing, chief medical officer and Dr. Zheng Lihua, chief commercial officer. Its team has rich clinical development experience and has successfully obtained drug approval in the Asia-pacific region, Europe and the United States. Bao-yuan will leverage its global clinical development capabilities and interdisciplinary network of experts to optimize the commercial value of its clinical assets.

According to Wang Junyuan, Baoyuan plans to work with large and medium-sized biopharmaceutical companies to build and enhance the clinical pipeline of innovative products near key value inflection points. Regarding future development, Zheng Lihua said, "in addition to acquiring clinical assets through project cooperation with large and medium-sized biopharmaceutical companies, we are also considering introducing and developing assets that are not in clinical phase but have shown good potential in animal experiments to establish and consolidate innovative product pipelines."

Decheng Capital is a leading investment firm that provides capital and strategic support to early-stage life science companies with revolutionary technologies and growth stage healthcare companies with strong market presence.