Micot Announces Close of ￥360 Million Series B Financing Round

(VCBeat) May. 21, 2021 -- On May 14, 2021, Shaanxi Micot Technology Co., Ltd. ("Micot") announced the completion of the Series B financing of 360 million yuan, led by NRL Capital, a cutting-edge investment firm in China, with participation from Suzhou Rongsheng Xianxing Venture Capital, Fengchuan Hongbo Investment Management Partnership, and Jiaxing Shanjin Equity Investment Partnership. Existing investors Northern Light Venture Capital, Tianjin Huaxin Pharmaceutical Venture Capital Partnership (the Huaxin Fund of Tasly Capital), Xi'an Jingcheng Daxing Enterprise Management Partnership continue to make additional investment.

Proceeds from the latest round will be used to promote the clinical trials of a series of bifunctional polypeptides in the USA and China, further enrich the research and development pipeline, accelerate the construction of the Suzhou industrial base, and further consolidate Micot's leading advantage in the field of bifunctional polypeptide research and development. To accelerate the global development of the products under development, Micot also plans to launch a pre-IPO round of funding at the end of the year.

Micot is an innovative drug research and development company in the world, with the industry's leading technology platform and national bispecific peptide drug development platform. The company has been established a rich product line including 20 new drugs in class1.1, covering the cardio-cerebrovascular disease, metabolism, anti-inflammatory, analgesic and nervous system damage, and other areas of the major diseases.

NRL Capital is an investment and fund management platform with the interconnection of three businesses of parent fund, direct investment and private equity secondary share investment, as well as domestic RMB and overseas US dollar driven by a team of domestic and foreign first-class industrial resources and long-term capital. The company is deeply engaged in medical and healthcare, new infrastructure and new manufacturing, industrial network and enterprise services, 2C Internet and innovative consumption.

Suzhou Rongsheng Xianxing Venture Capital is a market-oriented direct investment management team of SND Ventures Group, focusing on investing in the field of healthcare.