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Qiming News

Qiming Monthly Newsletter (December 2022)

03/01/2023 | Qiming Venture Partners

 

 
Portfolio Highlights

ESG

•    Zai Lab (NASDAQ: ZLAB; SEHK: 9688) participated in the Vision 2045 campaign – a series of groundbreaking documentary films that aim to inspire businesses and people to take collective action to insure a better future for all. The campaign will be supporting the United Nations Sustainable Development Goals.

•    Tigermed (SZSE:300347, SEHK:3347) partnered with Alkhidmat Foundation Pakistan to offer international aid for residents who suffered from flooding in Pakistan. 

•    CanSino Biologics (SEHK:6185, SHSE:688185) was included in the 2022 Best ESG Employers in China List by Aon Group.

Financing

•    Emergen Group secured RMB 350 million in its Pre-IPO round. This successful financing brings a milestone development opportunity and marks the beginning of the company's further growth.  

•    Akulaku announced that the company received a $200 million investment. The investment provides additional support for Akulaku's projected growth as it advances towards its mission of providing banking services across Southeast Asia with an emphasis on reaching underserved customers and markets.  

•    Fortune Care has completed C+ round financing worth over RMB 100 million. This round of financing will be used for business services and digital operation system construction, as well as the service network expansion for the national market.  ;

Progress

•    SinocellTech (SHSE: 688520) announced that its self-developed bivalent (Based on Alpha and Beta Variants) recombinant protein vaccine against SARS-CoV-2 variants SCTV01C has been included for emergency use in China.

•    Insilico Medicine and the University of Copenhagen announced the release of the first batch of results from the collaborative work, published in Nature Portfolio Cell Death & Disease. The company also nominated newest AI-discovered and AI-designed preclinical candidate ISM4312A targeting DGKA that's designed to make immune checkpoint inhibitors more effective and preclinical candidate targeting KAT6A for ER+/HER2- breast cancer therapy with Pharma.AI.

•    CanSino Biologics (SEHK:6185, SHSE:688185) recently announced positive periodic results of several extended clinical trials for inhaled COVID-19 vaccine Convidecia Air™, intramuscular vaccine Convidecia™ and bivalent (Based on Omicron and Original Variants) inhaled COVID-19 vaccine which is at the clinical stage.

•    Zai Lab (NASDAQ:ZLAB, SEHK:9688)’s partner Mirati Therapeutics announced that the US FDA has granted Breakthrough Therapy Designation (BTD) to adagrasib in combination with cetuximab in patients with KRASG12C-mutated, advanced CRC. 

•    Belief BioMed announced that its self-developed and manufactured BBM-H803 injection was granted orphan drug designation by US FDA for the treatment of hemophilia A recently – the second gene therapy drug candidate to have obtained FDA ODD following the BBM-H901. 

•    Kira Pharmaceuticals announced that the Chinese and Australian authorities have approved initiation of Phase 2 studies for evaluation of KP104 in a renal basket study including IgA nephropathy (IgAN) and complement 3 glomerulopathy (C3G). 

•    Caidya's partner TG ImmunoPharma announced that the US FDA has cleared the Investigational New Drug application for TGI-2/NM1F. Caidya provided professional services for its FDA IND application and submission. 

•    Jacobio Pharma (SEHK:1167) announced that its in-house KRAS G12C inhibitor JAB-21822 was granted breakthrough therapy designations for the second-line and above treatment of advanced or metastatic NSCLC patients by China's NMPA.

•    China announced a second COVID-19 booster dose plan for high-risk people. SinocellTech (SHSE: 688520)’s SCTV01C and CanSino Biologics (SEHK:6185, SHSE:688185)'s intramuscular vaccine Convidecia™ and inhaled vaccine Convidecia Air™ were included in the nine recommended vaccine booster combinations.

•    ArkBio Pharmaceutical announced that China’s NMPA has granted priority review status to the New Drug Application for the new drug ziresovir for the treatment of RSV infection.

•    Gan & Lee Pharmaceuticals (SHSE: 603087) announced that it has recently received registration approval for its insulin glargine product to be marketed in Pakistan issued by the Drug Regulatory Authority of Pakistan, representing a milestone of the company’s products first approved as Marketing Authorization Holder (MAH) in the Asia Pacific region.

•    Venus Medtech (SEHK:2500) announced that Venus Vitae®, its self-developed next-generation balloon-expandable dry-tissue transcatheter aortic valve, was approved to be marketed in Argentina, marking its 3rd artificial valve product in the South American market.

•    TigerGraph was included as Niche Player in Magic Quadrant for the first year at Gartner's latest research for Cloud Database Management Systems (DBMS).

•    WeRide recently obtained road test permission and demonstration application permission for intelligent connected vehicles in Shenzhen, Guangdong province, indicating that WeRide is the first company approved for manned demonstration operation with the front-loaded driverless minibus for mass production, as well as the company’s official landing in Shenzhen.

•    Hesai Technology announced a milestone achievement - 100,000 units of lidar shipped over the 8-year history. The company maintains the highest market share in the global L4 autonomous vehicle segment.

•    DeepWay was included the fourth batch of commercial vehicle self-driving road test licenses and approved to conduct open road tests in Beijing.

Partnerships

•    Tigermed (SZSE:300347, SEHK:3347) and Qyuns Therapeutics have signed a strategic cooperation agreement. Tigermed will help promote the clinical research and development of immune-related diseases for Qyuns Therapeutics, focusing on several clinical R&D projects to fulfill unmet needs and benefit more patients. 

•    MediLink Therapeutics announced a license agreement with Henlius to advance the development of ADC products based on the existing R&D technologies, further accelerate the proof-of-concept of the new ADC technology platform and enhance the comprehensive market competitiveness of both parties in oncology therapy.

•    Frontage Laboratories’ Bioanalytical team partnered with Eisai and Biogen to support the PK and PD biomarker bioanalysis of the Alzheimer’s drug lecanemab (BAN2401) in their investigational global phase 3 study in US and China. 

•    Antengene (SEHK: 6996) announced a global clinical collaboration with MSD on a multicenter, open-label, Phase I dose-finding study of ATG-037 as a monotherapy and in combination with MSD's anti-PD-1 therapy, KEYTRUDA® (pembrolizumab), in patients with locally advanced or metastatic solid tumors (the STAMINA-001 study).

•    PCITECH and WeRide have signed a strategic cooperation on intelligent transportation, jointly promoting the application of next-generation information technologies and facilitate the landing of intelligent transportation, connected vehicles, and smart city in the Guangdong-Hong Kong-Macao Greater Bay Area.

Global Activity

•    ZSHK Laboratories, a biopharmaceutical pre-clinical research and development service company, participated in the BIOHK 2022 Convention, which provided a platform to make meaningful business connections and discover the most recent developments in the biotechnology industry.

•    Schrödinger (NASDAQ:SDGR) presented new preclinical data supporting the advancement of its CDC7 inhibitor development candidate, SGR-2921, at the American Society of Hematology 2022 Annual Meeting.  

•    Venus Medtech (SEHK: 2500) attended the 2022 Innovation in Cardiovascular Interventions, presenting some of the latest breakthrough technologies and the product pipeline of upcoming valve technologies. 

Corporate Development

•    Insilico Medicine announced that Dr. Man Zhang was appointed as Vice President, Head of Biology and Translational Medicine. Dr. Zhang has worked for Hengrui Pharmaceuticals, Johnson & Johnson, and Novartis with over 15 years of experience.

•    SinoUnited Health, a high-end healthcare provider, has held the opening ceremony of Shanghai SinoUnited Hospital. Starting from a clinic six years ago, it has grown into a full and mature system with a network of nine facilities. 

•    Antengene (SEHK: 6996) announced that Amily Zhang has been appointed as the company's Chief Medical Officer to spearhead Antengene's global clinical development strategy and continue to build out the company's medical team.

•    ZhenGe Biotech announced that the first vial of cells for clinical sample production has been revived at the commercial manufacturing facility at Lin-gang Special Area Life Science and Technology Zone in Shanghai, marking the official beginning of the operation of its commercial manufacturing facilities.

Awards

•    BigDATAwire Editors' Choice Award - Best Data and AI Product or Technology: Analytics Database – TigerGraph

•    Bioz Stars Awards - All Star Award Winner in the Category of COVID-19 - Sino Biological; Top Star Award Winner in the Category of Vectors - OriGene 

•    10 Biggest Science Stories of 2022 by The Guardian - CanSino Biologics’ inhaled vaccine Convidecia Air™

•    Best IPO Cases of Golden Bull Award by China Securities Journal - Sino Biological 

•    TOP 55 innovators of 2022 by Intelligent Health AI -  Alex Zhavoronkov, Founder and CEO of Insilico Medicine 

•    Shenzhen Rising Star 2022 by Deloitte China - DST and Cornerstone Robotics Limited

•    2022 TOP 100 Global Digital Trade Industry Enterprise Selection by Forbes China - Xiaomi Technology and Tongdun Technology 

•    25 Influential Entrepreneurs 2022 released by China Entrepreneur - Xiaomi Technology's Founder, Chairman & CEO Jun Lei and Meituan's Co-Founder, Chairman & CEO Xing Wang 

•    Digital Health 150 by CB Insights - GYENNO

•    Highly Cited Researcher for 2022 by Clarivate -  Alex Zhavoronkov, Founder and CEO of Insilico Medicine

•    TOP 1 MedTech Company in China by Med Tech Outlook APAC - Singular Medical

•    The Most Admired Companies 2022 by FORTUNE China - Xiaomi Technology

•    21st Century the Most Innovative Companies 50 in China by 21st Century Business Herald - Xiaomi Technology, Hesai Technology, Bilibili, SequoiaDB, and Tasogare 

 

Qiming Updates

Events

•    The 2022 Qiming Venture Partners 14th CEO Summit was successfully held from December 28-30, 2022. The theme is "Reviving Growth", covering various topics in the Technology & Consumer and Healthcare sectors. One guest speaker of honor, 13 members from Qiming's investment team, and 13 entrepreneurs from Qiming's portfolio companies joined the discussion and exchange ideas.

Insights

•    Founding Managing Partner Duane Kuang discussed Qiming Venture Partners' investment strategy and focus with Mergermarket. He also shared where Qiming see new opportunities, trends in exits, fundraising, and Qiming's team development.

Awards

•    22nd China VC/PE annual ranking by Zero2IPO Group - TOP 7 VC Institutions in China, TOP 30 Investment Institutions in China’s Healthcare Sector; TOP 10 Chinese Venture Capitalists of the Year - William Hu, Managing Partner of Qiming Venture Partners

•    2022 Forbes China Venture Capital 100 - Managing Partner Nisa Leung, Founding Managing Partner Duane Kuang, Managing Partner William Hu, Partner Kuantai Yeh and Partner Alex Zhou

•    2022 TOP10 Most Watched VC Institutions by LPs in China by China Venture - Qiming Venture Partners

•    Annual TOP 30 VC and PE investment institutions in China by 21st Century Business Herald - Qiming Venture Partners; TOP 30 Most Influential Investors in China - Duane Kuang

•    2022 Annual VC Series List by LIEYUNWANG.CN - TOP50 Best VC Firms - Qiming Venture Partners; TOP20 Female Investors - Bonnie Wang, Partner of Qiming Venture Partners

•    Five-year Golden Bull VC Institution with Continued Excellence by China Securities Journal - Qiming Venture Partners

•    TOP Venture firms in China 2022 by Jiemian News - Qiming Venture Partners 

•    F40 Young Investors in China by PEdaily & Zero2IPO Group Research - Bonnie Wang

•    Annual Institution Lists by 36Kr - TOP 20 Investment Institutions in Health and Life Sciences, Digital and Intelligent Transformation, Cross-Border Commerce and Globalization, New Generation of Information Technology, TOP 30 Investment Institutions in ESG; TOP 20 Investors in Hard&Core Technology and Intelligent Manufacturing, New Generation of Information Technology - Duane Kuang; TOP 20 Investors in Health and Life Sciences, Cross-Border Commerce and Globalization - Nisa Leung; TOP 20 Investors in Health and Life Sciences - William Hu; TOP 20 Investors in Semiconductor and Integrated Circuit - Kuantai Yeh; TOP 20 Investors in Digital and Intelligent Transformation - Alex Zhou  

 

Sources: Qiming Venture Partners, company press releases, media reports, etc.