BEIJING and BOSTON, June 22,
2021 /PRNewswire/ -- Biocytogen, an international
biotechnology company focused on antibody drug research and
development (R&D) using innovative genetically engineered
animal models, today announced the successful completion of a new
round of financing totaling tens of millions of dollars. The
financing was jointly completed by Lake Bleu Capital, CPE, Octagon
Capital and OrbiMed.
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. was established in 2009.
Using its foundational gene editing technology, the company
independently developed mouse platforms for fully human antibody
discovery, RenMab® and RenLite®, that
have independent intellectual property rights. With the
implementation of these platforms, Biocytogen has evolved from a
contract research organization (CRO) into an international
biotechnology company with expertise spanning the entire process of
new drug R&D, including antibody drug target verification,
high-throughput single B cell antibody discovery technology, in
vivo drug efficacy evaluation using humanized target mice, and
clinical development.
Genetic engineering of RenMab® and
RenLite® mice has enabled the integration of
Biocytogen's technological strengths into a unique large-scale
R&D plan for the discovery of therapeutic antibodies, an
initiative termed the RenMice HiTS Platform. The HiTS Platform
signifies the company's commitment to complete high-efficiency
antibody discovery and in vivo drug efficacy screening of more than
1,000 antibody targets in the next few years, focusing on the
discovery of first-in-class and best-in-class drug targets. Through
the identification of antibody leads that have been verified for
efficacy in animal models, Biocytogen has established
co-development partnerships with more than a dozen biotechnology
and pharmaceutical companies.
Dr. Yuelei Shen, founder and CEO of Biocytogen, said:
"In the two months from initiation to completion of this round of
financing, the company has received extensive attention and
recognition from top biomedical funds and long-term investment
institutions. New shareholders with outstanding reputations are
very welcome to join the Biocytogen family.
Paying attention to the R&D and innovation of the underlying
technology is the cornerstone of our development. After more than
ten years of large-scale R&D investment, we have achieved good
results in the fields of super-large fragment gene editing
technology, fully human antibody gene mouse development technology,
and bispecific antibody development technology. These breakthroughs
in the underlying technology have enabled the company to continue
to explore in the fields of monoclonal antibodies, bispecific
antibodies, bispecific antibody-ADCs, and nanobodies.
The antibody drug molecules YH003 ([anti-]CD40) and YH001
([anti-]CTLA-4) independently developed by Biocytogen and its
wholly-owned subsidiary, Eucure Biopharma, are in phase I clinical
trials in Australia in combination
with Junshi Biosciences' PD-1 antibody Toripalimab. Both show
excellent safety and good drug efficacy. The in vivo experimental
data of YH003 and YH001 have been well verified in the
preclinical stage, fully demonstrating the high reliability of the
biopharmaceutical research and development method that uses animal
efficacy data as the "gold standard" for drug preclinical
screening."
For more about this fundraising initiative, click here.
Partnership & media inquiries:
Jenna Frame
jframe@biocytogen.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/biocytogen-completes-a-new-round-of-financing-totaling-tens-of-millions-of-dollars-301317774.html
SOURCE Biocytogen