Deals

Financing

•    Prismlab, a leading Chinese company specializing in the development of high-speed, high-resolution and large-format photocuring 3D printing technology and providing client-oriented high-quality services, announced the completion of Series C financing of 200 million RMB. This round is led by Qiming Venture Partners.

•    DeepWay, a developer and manufacturer of smart electric commercial vehicles designed to offer intelligent driving solutions for the truck freight market, announced that it successfully completed its Series A round of financing worth 460 million RMB — the largest amount ever raised in this category. This round is led by Qiming Venture Partners.

•    ZhenGe Biotech announced the completion of a Series C+ round of financing worth 100 million RMB. This round is the extension of its Series C round, in which Qiming Venture Partners participated. Qiming also co-led the company's Series B round.

•    A leading home care service platform Fortune Care raised its Series C financing round. Qiming Venture Partners participated in this round and led the company's Series B round.

•    Insilico Medicine, a clinical-stage end-to-end artificial intelligence-driven drug discovery company, announced that it completed a second closing of its Series D round, bringing the total Series D financing to $95 million. 

•    Health Gene Technologies announced the completion of its series C financing round to support new technology discoveries and product R&D.

•    Structure Therapeutics announced it closed an oversubscribed $33 million financing, extending its $100 million Series B financing announced in October 2021.  

•    Oricell Therapeutics announced the completion of Series B financing totaling over US$120 million. This round of financing was jointly led by Qiming Venture Partners.

•    GluBio Therapeutics, a biotech company focused on developing novel targeted protein degradation (TPD) drugs, announced the completion of Series A+ financing of $22 million. This round is led by Qiming Venture Partners, bringing the total capital raised to nearly $90 million since its establishment in 2021.

 

Portfolio Highlights

Milestones

•    Belief BioMed announced that its self-developed and manufactured BBM-H901 injection has been granted orphan drug designation (ODD) by the U.S. Food and Drug Administration (FDA) for the treatment of hemophilia B and Breakthrough Therapy Designation (BTD) by China Center for Drug Evaluation (CDE) of China National Medical Products Administration (NMPA). BBM-H901 injection is an AAV vector gene therapy drug candidate for elimination of bleeding in adult male patients with hemophilia B. 

•    CanSino Biologics (SEHK:6185, SHSE:688185) announced that its Recombinant COVID-19 Vaccine (Adenovirus Type 5 Vector) for Inhalation (trade name: Convidecia Air™) has received approval for clinical trial in Malaysia, marking the first trial study of the inhaled version of COVID-19 vaccine in Malaysia.

•    Lei Jun, Founder, Chairman, and CEO of Xiaomi Technology (SEHK:1810), gave his 2022 annual speech “Reflecting on life's highs and lows”. Xiaomi also introduced Mijia AR Glasses Camera, which is developed and manufactured by Superhexa, on Xiaomi's in-house crowdfunding platform.

•    Insta360 launched AI-powered 4K webcam Insta360 Link, which offers a powerful combination of premium image quality with a seamless user experience for business professionals, educators, and live streamers. 

•    Structure Therapeutics, formerly known as ShouTi Inc., announced the name change reflecting its foundation in structural biology and computational design. Structure Therapeutics completed dosing in a single ascending dose (SAD) Phase 1 study of its lead type 2 diabetes and obesity program, GSBR-1290. GSBR-1290 was generally well tolerated in the SAD study, with no serious adverse events reported.

Awards

•    Nearly 30 portfolio companies were included in the Global Unicorn Index 2022 Half-Year Report by Hurun. These companies are Tuhu, UBTECH Robotics, WeRide, Hesai Technology, Mafengwo, ROX Motor, Biren Technology, Tujia, APUS Group, Tongdun Technology, Tungee, Unisound, Viewtrix, HyperStrong, Xiaoe Tech, WeDoctor, Yuanxin Technology, Abogen Biosciences, Shukun Technology, Valgen Medtech, Shulan Health, dMed-Clinipace, and Infervision among others.

•    About 30 portfolio companies including 52TOYS, Alpha Biopharma, Apollomics, ArkBio, Axera, Bang Er Orthopedic, Berry Oncology, Bioscience, Cornerstone Robotics, DST, Eigencomm, Liesheng Electronic, Insight Lifetech, Insilico Medicine, InventisBio, Mech-Mind Robotics, MedSci Healthcare, NEIWAI, Newsoara, Nurotron, PETKIT, Qiniu, SceneRay Corporation, Sweetome Group, Transwarp, Tripod Preclinical Research Laboratories, XSKY Data Technology, Yuanbao, Yunji Technology, and ZhenGe Biotech among others were listed in the HURUN Global Gazelle Index 2022 Half-Year Report.

•    Over 20 portfolio companies were included in the Hurun China Cheetahs 2022 Half-Year Report，including Bouffalo Lab, Hope Medicine, HOUMO.AI, ZEGOCLOUD, SequoiaDB, Kira Pharmaceuticals, Kechow Pharma, LiangYiHui Healthcare, NASN Automotive Electronics, Chain Medical Labs, Sunyur Network, DP Technology, Structure Therapeutics, Sinotau Pharmaceutical, ET Healthcare, MediLink Therapeutics, Insta360, Tasogare, Clounix, and Zuzuche among others.

•    Qiming Venture Partners' portfolio companies Atom Semiconductor Technologies and DP Technology were included in Forbes Asia 100 To Watch 2022, a list spotlighting 100 small companies and startups addressing real-world challenges with fresh thinking and innovative products and services across the region.

•    Hesai Technology and WeDoctor were selected among the 2022 TOP 50 Innovative Companies in China released by Forbes China.

•    SinocellTech (SHSE: 688520) and Insilico Medicine were selected among 2021 MIT 50 Smartest Companies by MIT Technology Review.

•    Hesai Technology, WeRide, Chuhang Technology, and NASN Automotive Electronics were included in KPMG China's Leading Autotech 50 List Fifth Edition.

•    CBN (China Business Network) and CBNData announced the 2022 China's New Consumer Brand Growth 50 Series List. PETKIT, Xiaomi Technology (SEHK:1810), Tasogare, Coffee Box, and Spes among others were included.

•    12 portfolio companies including Sinotau Pharmaceutical Group, Health Biotech, M20 Genomics, Clinical Decision Support System, GenLight MedTech, DP Technology, Shukun Technology, Infervision, Insilico Medicine, Yuanbao, Yuanxin Huibao, and Zeen Health were recognized as 2022 China Medical Companies with 10-Fold Growth Potential by leading business outlet 36kr.

•    Zai Lab (NASDAQ:ZLAB, SEHK:9688), Jacobio (SEHK:1167), Asieris Pharmaceuticals (SHSE: 688176), Antengene (SEHK:6996), Sinotau Pharmaceutical, AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), New Horizon Health (SEHK:6606), Abogen Biosciences, SinocellTech (SHSE: 688520), Cure Genetics, XellSmart, Frontage Laboratories, Tigermed (SZSE:300347, SEHK:3347), dMed-Clinipace, and ZhenGe Biotech were included in the 2022 China Bio-Pharma Industry Value List.

 

Qiming Updates

•    Insights - Founding Managing Partner Duane Kuang recently spoke with Chen Zhe, Founder of ChinaVenture Info, at the 16th ChinaVenture Investment Conference Annual Summit in Singapore, where he talked about China's market opportunities for prospects, entrepreneurship spirits, web3.0 and many more.

•    Events - Managing Partner Nisa Leung will attend the 20th Forbes Global CEO Conference to be held in Singapore from September 26 to 27, among around 400 leading CEOs, entrepreneurs, and investors to share insights, spotlight opportunities, and stake out the way forward amid uncertainties. Nisa also talked about the opportunities of Hong Kong becoming a global hub of healthcare in a Fireside Chat session with Hong Kong Exchanges and Clearing Limited CEO Nicolas Aguzin during HKEX Biotech Summit 2022 on September 1st.

•    ESG - Qiming Venture Partners donated over 600,000 RMB to the Shanghai Charity Foundation and Jing'an Branch of Shanghai Senior Citizens Foundation, offering 127 air purifiers to six local elderly care institutions in Pudong New Area and Jing'an District, benefiting about 500 senior citizens with better environmental conditions.

•    Qiming Venture Partners was selected as TOP 9 Most Successful Investors into China Unicorns and ranked 54th in Most Successful Unicorn Investors in the World List with nearly 30 portfolio companies included in the Global Unicorn Index 2022 Half-Year Report by Hurun; TOP 5 Successful Gazelle Investors with about 30 portfolio companies listed in the HURUN Global Gazelle Index 2022 Half-Year Report; No.5 China Cheetahs Best Investors List by Hurun with over 20 portfolio companies included in the Hurun China Cheetahs 2022 Half-Year Report.

•    Qiming Venture Partners' Managing Partners Duane Kuang, Nisa Leung, and William Hu were included in 2022 TOP 100 China Investors launched by leading industry publication PEdaily and database Zero2IPO Group Research.

•    Qiming Venture Partners won 4 awards in the Best Equity Investment in Mid-2022 List announced by Qimingpian, China's leading business information service platform. These awards include the TOP 5 in China's Best VC Investment Institutions Comprehensive List, TOP 4 in China's Best VC Investment Institutions Active List, TOP 9 in Best Artificial Intelligence Investment Institutions List, and TOP 2 in Best Healthcare Investment Institutions List.

•    InvestorsCN released the 2022 Annual List of China Fund Partners. Qiming Venture Partners was included in the TOP 50 VC Firms in 2021-2022, and Qiming’s Founding Managing Partner Duane Kuang was named among TOP 50 investors in 2021-2022.

•    Qiming Venture Partners was named the TOP 9 VC Institution with Best Returns of the Year, and Qiming's Managing Partner William Hu was selected among the TOP 50 Investors of Direct Investment Funds with Best Returns of the Year by China-fof.com.

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