Shijian Biology Closes ￥10M Pre-A Round of Financing

According to VCBeat, on August 24, Shanghai Shijian Biotechnology Co., Ltd ("Shijian Biotechnology") announced that it had recently completed a Pre-A round of financing worth tens of millions, with participation from DT Capital, CASH Capital and other investors. StartPointAdvisors acted as the financial adviser for this financing, with Llinks Law Offices providing legal services.

Shijian Biology is an innovative antibody R&D company co-founded in Zhangjiang, Shanghai by Zhou Qing, former chief scientist of Genor Biopharma, and He Feng, former quality assurance manager of Genor Biopharma. Before returning to China, both founders worked at Amgen.

The products of Shijian Biology under development are positioned as the world's best/first-in-class drugs, and its pipeline has both medicinal properties and market potential. Meanwhile, the company has built an extensive business cooperation network in global and established strategic cooperation with many top biotech companies.

According to Dr. Zhou Qing, the first product under development of Shijian Biology will submit IND application in China and the United States respectively in Q4 2020. The success of the latest round will provide support for the IND and subsequent process development and preclinical R&D for the first product.

Mr. Shao Jun, the founding managing partner of DT Capital, said that the primary pipeline of Shijian Biology has well-balanced innovation and clinical efficiency, among which ESG-401 shows safety advantages and is expected to become a best-in-class drug. DT Capital will continue to provide comprehensive support for the follow-up development of Shijian Biology.

DT Capital is a private equity investment firm that provides growth capital to early and expansion-stage companies. It invests in dynamic businesses that have high growth potential, strong management teams, and demonstrated revenue models in both technology-based and traditional industries.

CASH Capital mainly invests in emerging industries such as six major areas, including smart manufacturing, mobile Internet and services, big data and artificial intelligence, financial technology, medical services, medical devices and pharmaceuticals. The company focuses on fast-growing businesses in the start-up and growth stages.