Singlomics Biopharmaceuticals Raises ￥100M in Series A Financing

According to VCBeat, Singlomics (Beijing DanXu) Biopharmaceuticals Co., Ltd. ("Singlomics Biopharmaceuticals") announced that it had recently completed a Series A financing of over 100 million yuan, jointly led by GL Ventures and Huagai Capital, with additional support from Beijing Changping Science Park Development, Beijing Capital Science and Technology Development, Tianjin Huizhi and BOHE Angel Fund. 

Proceeds from the latest round will be used to further develop the world-leading single-cell sequencing technology of Singlomics Biopharmaceuticals, advance the clinical development of its novel antibodies for neutralizing the virus causing COVID-19, and expand its product pipeline.

Singlomics Biopharmaceuticals is a biotech company focusing on antibody drug discovery and development utilizing its world-leading single-cell sequencing platforms. It aims to continuously drive innovative drug discoveries for a variety of indications including infectious diseases and auto-immune diseases. Singlomics Biopharmaceuticals also plans to build an antibody manufacturing facility in Changping, Beijing. 

Previously, Singlomics Biopharmaceuticals and BeiGene, Ltd. have executed an exclusive license agreement for BeiGene to develop, manufacture and commercialize globally outside of greater China Singlomics' investigational anti-COVID-19 antibodies, including DXP-593 and DXP-604. 

A Phase 1 randomized, double-blind, and placebo-controlled clinical trial of those antibodies is expected to begin enrolling up to 30 healthy subjects in Australia in September. The Phase 1/2 multinational trial in patients with mild to moderate COVID-19 is also expected to begin enrollment by early October. 

Singlomics Biopharmaceuticals will also cooperate with Changping District Government in Beijing to build a production base of antibodies.

GL Ventures was set up by private equity heavyweight Hillhouse Capital to invest in emerging startups in February 2020. GL Ventures focuses on four areas: biomedicine and medical devices, software services and initiatives in tech innovations, consumer internet and technology, and emerging consumer brands and services.

Founded in 2012 and headquartered in Beijing, Huagai Capital is a private equity investment firm that invests in start-up or growth companies in the areas of healthcare, TMT, and culture.