Shenzhen Capital-Backed TargetRx Bags ￥100M

According to PEdaily.cn, Shenzhen TargetRx, Inc. ("TargetRx") has announced the completion of a strategic investment of nearly 100 million yuan, with tens of millions from Hongtai Aplus.

The funds raised will mainly be used for the TargetRx's clinical research on small-molecule targeted drugs for chronic myelogenous leukemia (CML) and non-small-cell lung cancer (NSCLC), as well as the R&D of other latest generation of targeted drugs.

Founded in August 2014, TargetRx is a Sino-American joint venture, high-tech pharmaceutical R&D company. When established, the company won the investment from famous angel institutions in China with a registered capital of 80 million yuan. The company focuses on the R&D of targeted drugs and aims to become the world's leading research and development platform for targeted drugs.

Dr. Yihan Wang, the founder of TargetRx, graduated from New York University, is an internationally well-known medical expert with over 16 years of oversea working experience in the field of small molecule targeted anti-cancer drugs, and is the key inventor of international forefront drugs, such as IClusig (Ponatinib), Alunbrig (Brigatinib), and Ridaforolimus. 

TGRX-678 is the 4th generation Bcr-Abl inhibitor developed independently by TargetRx and with fully independent intellectual property worldwide and the potential of the Best-in-Class drug. The application for the clinical trial of TGRX-678 in China was officially accepted by CDE on April 11, 2020. The team is actively preparing for and about to carry out the clinical trial of this drug.

TGRX-326 is a 3rd ALK-positive tyrosine kinase inhibitor for NSCLC developed by TargetRx, which is able to cross the blood-brain barrier and is expected to bring a new treatment for lung cancer patients. TargetRx has submitted an application of TGRX-326 and is expected to begin the clinical trials soon.

Hongtai Aplus was founded in 2014 by renowned entrepreneur Yu Minhong and senior investment banker Sheng Xitai. After many years of development, the AUM of Hongtai Aplus has exceeded 30 billion yuan, with investment focusing on artificial intelligence/big data, advanced manufacturing (intelligent manufacturing), consumer education, "Big Health" and other fields.