Elpiscience Completes $100M Series B Financing

Elpiscience Biopharma （"Elpiscience"） has announced the completion of Series B financing of US$100 million, led by Hyfinity Investments, with participation from Tencent, GTJA Investment Group, Dyee Capital, Oriza Holdings, Ming Bioventures, WisdoMont, Parkway Global and others. Existing investors, including Lilly Asia Ventures, Hillhouse Capital Group, and CDH Investments continued to invest in this round of financing. 

The proceeds from Series B will primarily be used to advance highly innovative immunotherapy candidates such as ES101, ES102 and ES002 through pre-clinical and clinical development. The company will also use these funds to expand its innovative product pipeline through internal discovery and global partnering.

Elpiscience is a biopharmaceutical research and development company that strives to lead the next revolution of cancer immunotherapies. Built on its deep understanding of tumor biology and immunology, and with its highly efficient execution capabilities, Elpiscience has developed a globally competitive pipeline of 12 products in just two years, which is highly recognized not only by institutional investors but also by the commercial banks. 

A few days ago in Suzhou, Elpiscience announced the signing of a ￥150 million collaboration with two major banks, Bank of China and Agricultural Bank of China. The fund will be used to establish Elpiscience's GMP manufacturing capabilities. This signifies a major milestone of Elpiscience towards late stage and commercial development of antibody therapeutics.

Dr. Sylvia Xin He, Hyfinity Investments' Managing Partner, commented, "Elpiscience has a deep understanding of immunotherapy and focuses on the truly global innovative targets. The team at Elpiscience excels in execution, international collaboration, and innovative drug discovery and research in the field of tumor immunology. The rapid progress from preclinical to clinical development, the establishment of an integrated R&D team and the system, and their global network and collaboration with leading academic institutions and industry partners testify to the team's strength. Immunotherapy is one of the vertical foci for Hyfinity Investments, a field that we have already deeply cultivated for the last two years."

Hyfinity Investments is led by senior partners from top-tier investment institutions in China, with years of experience in healthcare investment, local operation, and overseas licensing. Hyfinity Investments is devoted to advancing global innovations and leveraging advantages in China, including high unmet needs and rich clinical resources in China. Hyfinity aims to foster industry leaders through the convergence of global resources.