Cypress Biology: more than 100 million yuan of PreA round financing, accelerate the development of new target anti-tumor drugs

Recently, Shanghai Baiquan Biotechnology Co., LTD. (hereinafter referred to as "Baiquan Biotechnology") issued an announcement that the recent completion of more than 100 million yuan PreA round of financing, the round of financing led by Kai venture Capital investment, macro Best and pupil capital with investment, angel round investors Shanghai biomedical Fund additional investment, BFC Group in this transaction as the exclusive financial adviser to Baiquan.

This round of funding will be used to accelerate the development of a pipeline of new targeted tumor immune products, particularly preclinical and clinical studies of the first product.

In the past decade, since drug O and Drug K came on the market, checkpoint antibodies have leveraged a huge market. However, at the same time, PD-(L)1 faces great challenges and development difficulties in the expansion of indications, while other popular IO targets are difficult to be effective as a single drug. There is a broad clinical need for novel IO target antibodies.

About the cypress

Founded in 2019, Cypress is an innovative drug company that conducts target discovery based on integrated translational oncology research. Professor Xu Jie, the founder of the company, is deeply engaged in tumor immune checkpoint regulation mechanism and translational medicine research. He has studied and discovered new regulatory mechanisms of PD-1/PD-L1, p53, MAPK, NFKB, WNT, RhoGAP and other pathways, and published several papers in Nature/Cell subjournals. BioTroy Engine has established multiple research platforms for tumor multiomics analysis, receptor ligand discovery, target signal transduction pathway research, antibody discovery and engineering, in vivo efficacy and large animal translational medicine, biomarkers and precision medicine, and is committed to "zero to one" original target discovery and global intellectual property distribution. Based on solid scientific research data and cutting-edge translational medicine concept to promote FIC new drug research and development. The company's main pipeline targets tumors that do not respond to PD-1/PD-L1 inhibitors as the primary indication, and has completed major IND studies with encouraging results. After the completion of this round of financing, it will accelerate the company's main pipeline into the clinic.

Dr. Xu Jie, founder of Boquan Biology and national scientific and technological innovation leader, said: "In the past, in the field of tumor immune drug research and development, domestic relatively lack of target-level innovation. Cypress is committed to the discovery of new targets and global knowledge production layout, to challenge the incurable cancer types, is a firm practitioner of scientific discovery driven drug innovation concept. The Company is pleased to receive support from so many investors in this round of financing. Looking forward to the future research and development, Baiquan is confident that the groundbreaking antibody drugs will be promoted into the clinical stage, to bring new hope for cancer patients.

Dr. Huang Xin, Managing Partner of Kaifeng Venture Capital:

Bai Whole Biology is a cutting-edge enterprise focusing on the discovery of "first-in-class" new targets in tumor immunity. Dr. Xu has a profound accumulation in tumor immunity and translational medicine, and the biological logic of his target discovery is clear. He not only has multi-angle evidence as support from mechanism exploration, More rare is that the product level has shown exciting results in the early stage, Kaifeng adhering to the concept of supporting "original disruptive technology", in the field of original biological medicine layout of a number of enterprises, very honored to be the lead investor of this round, we and Bai Quan biological founder Dr. Xu led the team has a highly consistent value vision and long-term planning, And will do our best to assist Bai whole biology to achieve new breakthroughs in the field of global tumor immunotherapy.

Dr. Wang Wenjun, Managing Partner of Great Tech:

Immunocheckpoint inhibitors, represented by PD-1/L1 antibodies, have not only brought benefits to cancer patients, but also created unprecedented sales among anti-tumor drugs. As a company developing a global First-in-Class drug, PD-1 antibody is expected to provide hope for patients with insensitive treatment. Best Fund is honored to have the opportunity to participate in this round of financing. We believe that under the leadership of the founder Dr. Xu Jie, the company is based on the advantages brought by the original research and the huge potential market value of the product.

Mr. Liu Mulong, Founding Partner and Chairman of Pupil Capital:

Cypress Whole Biology is an innovative enterprise with strong innovation and great potential, which has established a platform for discovery of new immune escape targets and corresponding drug R&D. The biological mechanism of the immune escape target is clear, which may be a compensatory pathway for immune escape. The product has obvious broad-spectrum anti-tumor potential in clinic. We believe that under the leadership of the team headed by Dr. Xu, the company will bring more treatment opportunities for tumor patients.

Mr. Guo Qiushan, President of Shanghai Biomedical Innovation and Transformation Fund:

The BT1 and BT2 pipelines of Cypress Whole Biology are the original innovation transformation results of global landmark significance. They have clear differentiation mechanism and advantages in the IO checkpoint track developed in clusters, and are breakthrough discoveries in the field of tumor immune escape. Since angel round financing, Baiquan has achieved many milestones in team building, pipeline research and development, patent layout and other aspects. As angel investors, we are very pleased that the team led by Bo Quansheng and Dr. Xu Jie has been recognized by more investors. We will continue to vigorously support the development of the company and accelerate the clinical development and application of the pipeline.