MICOT Closed on 115 Million Yuan Pre-A Round of Financing

Recently, MICOT got 115 million yuan in its Pre-A round of financing, led by Northen Light Venture Capital, followed by Tasly Capital, Detong Capital, and Shanxi Investment. This round of financing will be mainly used to promote the company's clinical researches of the new polypeptide drugs with “double specificity” and other products.

Founded in 2007, MICOT is a global pharmaceutical company based in China. MICOT focuses on the design and formulation of polypeptide drugs, especially double-target or multi-target polypeptide technologies. Compared to an ordinary polypeptide, the bispecific polypeptide is activated simultaneously through different signal transduction to maximize bioactive benefits, minimize side effects, and improve pharmacokinetic action.

MICOT 's product pipeline mainly covers cardiovascular and cerebrovascular diseases, metabolic diseases and neurological systemic diseases. The company has built a research and development platform of new molecular drugs for bispecific peptides, a research platform for central nervous system drugs crossing the blood-brain barrier, and a research platform for high-end preparations. Up to now, 3 kinds of products from MICOT have been selected into the national projects of major new drug developments in China.

Founded in 2005, Northern Light is a venture capital firm targeting early-stage opportunities of innovation and disruptive technology. It has 5 RMB funds and 5 USD funds with managed capital of 4.5 billion dollars. Since its inception, Northern Light has backed over 200 ventures. The company provides capital, guidance, network and other resources that entrepreneurs need for success. 

Northern Light focuses on 3 main sectors including TMT (interactive entertainment, marketplaces, intelligent solutions, industry verticals, and enterprise solutions), advanced technology (AI, internet of things, robotics, advanced manufacturing etc.), and healthcare (medical devices, E-health, medical services, and biological, genomic and in-vitro therapeutics).

Affiliated to the Shaanxi provincial people's government, Shaanxi Investment is the first state-owned capital investment operation company in Shaanxi province, China. It was registered in Xi 'an with registered capital of 10 billion yuan and total assets of 160 billion yuan. The company has 26 wholly-owned and holding subsidiaries.