December
28, 2019, Shanghai, China, Elpiscience Biopharma announces the completion of
Series B financing of 100 million USD. The round was led by Hyfinity
Investments, with participation from Tencent, GTJA Investment Group, Dyee
Capital, Oriza Holdings, Ming Bioventures, WisdoMont, Parkway Global and
others. Existing investors, including Lilly Asia Ventures, Hillhouse Capital
Group, and CDH Investments continued to invest in this round of financing. The proceeds from Series B will primarily be used
to advance highly innovative immunotherapy candidates such as ES101, ES102 and
ES002 through pre-clinical and clinical development. The Company will also use
these funds to expand its innovative product pipeline through internal
discovery and global partnering.
Elpiscience
is a biopharmaceutical research and development company that strives to lead
the next revolution of cancer immunotherapies. Built on its deep understanding
of tumor biology and immunology, and with its highly efficient execution
capabilities, Elpiscience has developed a globally competitive pipeline of 12
products in just two years, which is highly recognized not only by
institutional investors but also by the commercial banks. Two weeks ago in
Suzhou, Elpiscience announced the signing of a 150 million RMB collaboration
with two major banks, Bank of China and Agricultural Bank of China. The fund
will be used to establish Elpiscience's GMP manufacturing capabilities. This
signifies a major milestone of Elpiscience towards late stage and commercial
development of antibody therapeutics.
Dr.
Darren Ji, Elpiscience’s co-founder and CEO, commented, “We are pleased to be
recognized by top investors during this round of financing. Their trust is
truly appreciated, especially in this challenging
year of
private investment. We are particularly grateful towards Hyfinity Capital for
their leading role and warmly welcome many
other seasoned investors who participated in this Series B round. The
participation of these top-notch investors greatly empowers us to continuously pursue the exciting journey of developing innovative
drugs. We will stay committed to carefully exploring
new scientific discovery towards finding effective therapies for cancer
patients.”
Dr.
Sylvia Xin He, Hyfinity Investments’ Managing Partner, commented, “Elpiscience
has a deep understanding of immunotherapy and focuses on the truly global
innovative targets. The team at Elpiscience excels in execution, international
collaboration, and innovative drug discovery and research in the field of tumor
immunology. The rapid progress from preclinical to clinical development, the
establishment of an integrated R&D team and the system, and their global
network and collaboration with leading academic institutions and industry
partners testify to the team’s strength. Immunotherapy is one of the vertical
foci for Hyfinity Investments, a field that we have already deeply cultivated
for the last two years. We are honored to join and support Elpiscience in its
pursuit of innovative cancer immunotherapy and Hyfinity is committed to
assisting Elpiscience in its great endeavors.”
About Elpiscience:
Elpiscience
is a clinical-stage biopharmaceutical company focusing on cancer immunotherapy.
The company is committed to leading the next generation of cancer
immunotherapies for the benefit of cancer patients worldwide. Elpscience has a
pipeline of more than 10 innovative molecules with its most advanced asset,
ES101, already in clinical trials. Elpiscience’s innovations cover a wide range
of immunology targets with a focus on innate immunity and tumor
microenvironment. China Renaissance is financial advisor for Elpiscience.
About Hyfinity Investments:
Hyfinity
Investments is led by senior partners from top-tier investment institutions in
China, with years of experience in healthcare investment, local operation, and
overseas licensing. Hyfinity Investments is devoted to advancing global
innovations and leveraging advantages in China,
including the
high unmet needs and rich clinical resources in China. Hyfinity aims to foster industry leaders through the
convergence of global resources.