Xinyue Bio Raises ￥10 Million in Angel Round of Financing

(VCBeat) July. 17, 2021 -- Recently, the first incubated company of Guangdong Small molecule Innovation Center (" Small Molecule Center", the first biopharmaceutical manufacturing innovation center in Guangdong), Shenzhen Xinyue Biotechnology Co., Ltd. ("Xinyue Bio"), announced the completion of an angel round financing worth tens of millions, led by Cowin Capital. Proceeds from this round will be used to promote Xinyue Bio's research pipeline and build the technology platform of DNA-encoded compound library.

Xinyue Bio is a startup company with DNA Encoded Compound Library (DEL) as the core technology to conduct innovative drug development and provide technical services.

DEL is a technology for the synthesis and screening on unprecedented scale of collections of small molecule compounds. DEL is used in medicinal chemistry to bridge the fields of combinatorial chemistry and molecular biology. The aim of DEL technology is to accelerate the drug discovery process and in particular early phase discovery activities such as target validation and hit identification.

Xinyue Bio, relying on DEL technology with independent intellectual property rights and aiming at unmet clinical needs, has established a comprehensive system of innovative drugs discovery focusing on FIC innovative drug design, research and development, and industrialization. The company is committed to becoming an internationally leading biopharmaceutical company with distinctive characteristics of new drug R&D. 

Xinyue Bio has a unique living cell screening technology in the DEL technology field, which can screen targets such as membrane proteins that are difficult to purify. This screening mode closer to the physiological situation can significantly improve the success rate of drug screening and has been widely used in the company's new drug development.

Cowin Capital Group was established in 2000  and has invested more than 300 companies, of which 60 more became public companies, and 150 more successfully exit. It focuses on investing in pioneering enterprises with steady development on long-term basis.