Bayer and RTW Investments Provide Financing for JIXING Pharmaceuticals

On January 8, 2024, Bayer and RTW Investments announced equity investments of US$35 million and US$127 million in JIXING Pharmaceuticals respectively.

JIXING Pharmaceuticals is a biopharmaceutical company with clinical-stage programs designed to bring innovative medicines to patients suffering from serious and life-threatening diseases in China.

JIXING Pharmaceuticals received funding from RTW when it was founded. Under the terms of the collaboration, Bayer will gain priority in negotiating the rights to commercialize JIXING Pharmaceuticals’ product lines in the cardiovascular and ophthalmology fields.

Juergen Eckhardt, Head of Pharmaceuticals Business Development & Licensing / Open Innovation, said that the company will make full use of Bayer's long-term industry leadership and commercial operation foundation in China, and work together with partners to unleash the full innovation potential of drug candidates. In addition, Bayer will continue to expand its global cooperation network and strengthen Bayer's local influence in China.

The joint portfolio strategy committee of Bayer and JIXING Pharmaceuticals will explore potential additional business development opportunities. Zhou Xiaolan, head of Bayer Pharmaceuticals China, will also join the JIXING Pharmaceuticals board of directors.

"JIXING Pharmaceuticals is on a rapid growth trajectory driven by a world-class R&D team with a unique understanding of how to most effectively deliver innovative therapies that address complex diseases to millions of Chinese patients. We believe JIXING Pharmaceuticals is well-positioned to achieve its mission , bringing breakthrough treatments to millions of people in China." RTW CIO Roderick Wong said.

"We are pleased to enter into a strategic partnership with Bayer, a leading multinational pharmaceutical company with a strong presence in China," said Sandy Mou, Executive Director of the Board of Directors and Chief Executive Officer of JIXING Pharmaceuticals. "Today's milestone will help strengthen JIXING Pharmaceuticals' new drug development and manufacturing capabilities from preclinical stages to launch and enable us to rapidly expand our global presence. We look forward to continuing to advance and deliver innovative treatments and solutions to patients."