neoX Biotech Raises ￥10M in Pre-A Round of Financing

According to VCBeat, neoX Biotech announced it raised thousands of millions in Pre-A Round of financing, led by Vision Plus Capital and Sequoia Capital China’s seed fund, with participation from the existing investor Morningside Venture Capital. The funds raised will be used for the construction of talent teams, the expansion of high-throughput laboratories and the development of cooperative R&D pipeline of drugs.

neoX Biotech is a biotechnology company that combines artificial intelligence (AI) and biophysics for drug development in the early stage, focusing on macromolecular drugs in tumor immunotherapy. neoX Biotech completed a multimillion-dollar Series A financing in 2018, included Morningside Venture Capital and ZhenFund.

Based on the underlying logic of biological systems and computable drug action, neoX Biotech carries out in-depth studies of protein-protein interactions (PPI), and the company firmly believes that AI-based computing design will play an important role in the pharmaceutical R&D industry chain. 

When it comes to the recognition from investors, Dr. Chen Hang, the founder of neoX Biotech, first attributed the establishment of the team, "The talent team of neoX Biotech has a strong interdisciplinary background. The R&D team comes from computational chemistry, biophysics, AI, immunology, biology and other fields. They analyze things from the perspective of their expertise, and together solve cutting-edge problems in the field of biomedicine."

By studying the interaction between proteins, neoX Biotech explores the underlying logic of drug development from multiple aspects, including dynamic structure of proteins, free energy state, mechanism of action and others. 

For the development of antibodies, the AI-driven antibody discovery platform created by neoX Biotech uses the latest artificial neural network algorithm, machine learning and molecular dynamics to simulate the directional evolution of antibodies, then output the optimized sequence of antibodies that targeting specific antigen effectively, and help pharmaceutical companies accelerate the development and screening of antibodies.

Founded in 2015, Vision Plus Capital focuses on the Consumer Internet, Enterprise Services, Digital Health and Advanced Computing, with the capacity to invest in both RMB and USD. The company provides wide-ranging support for start-ups, including talent introduction, strategy review, operational optimization and financing strategy assistance.

Formed in September 2005, Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fintech sector.