On May 20, 2023 Huihe Biotechnology (CytoCares) reported the completion of nearly 100 million yuan in Series A+ financing, which was funded by Jingxu Venture Capital, Shenzhen Venture Capital, Tailong Investment, Jinyu Bogor, Biosage, etc. Institutional co-investment (Press release, CytoCares, MAY 20, 2023, View Source [SID1234635272]). The funds raised this time will be used for clinical research of the company’s First in Class (FIC) pipeline, promotion of new pipeline research and development, and team building .

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Huihe Biotech has been focusing on the development of new innovative macromolecule drugs for tumor immunotherapy. At present, the company has a first-class immune cell engager drug development platform, and has established multiple innovative drug pipelines for immunotherapy of hematological tumors and solid tumors, focusing on creating antibody drug versions of cell therapy products. Among them, the IND application for CC312 (targeting CD19/CD3/CD28), the first research pipeline of the T cell TriTE platform, has been approved by the FDA and NMPA, and a clinical phase I study has been carried out. CC312 is the world’s first "dual signal activation" T cell engager (tertiary antibody) targeting CD19. Currently, Sanofi and Regeneron’s drugs based on this mechanism are also in phase I clinical research.

The TriTE platform is a new T cell engager multi-antibody drug platform independently developed by Huihe Biotech and based on CD3/CD28 dual signal T cell activation. It has independent intellectual property rights. After years of technology accumulation, the company has carefully optimized each motif sequence and structure of Engager, and has demonstrated better efficacy and similar safety in vivo and in vitro than products of the same category on the market. The pharmacological mechanism of the TriTE platform is similar to the second generation of CAR-T drugs, and new drugs on this platform are expected to have unique advantages in terms of drug accessibility and patient compliance. In a preclinical head-to-head comparison, Huihe Biotech’s research team found that compared with equal doses of CD3/CD19 bispecific antibodies, CC312, the platform’s first pipeline, has a stronger ability to induce T cell activation and cell proliferation. The proportion and number of activated T cell subpopulations are larger, and the ability to induce T cell proliferation is stronger; in addition, a large proportion of T cells will differentiate into memory T cells after drug treatment. This type of product can prevent the recurrence of tumors. It has potential clinical value in extending disease progression-free survival.

With its independent research and development projects, Huihe Biotech has received support from major national projects for new drug creation, Shanghai Science and Technology Innovation Action Plan Biomedical Technology Support Special Project, Shandong Province Antibody Drug Innovation and Entrepreneurship Community Major Science and Technology Projects, etc. It has also received support from Shanghai Specialized, Special and New Small and Medium Enterprises, Honorary qualifications such as scientific and technological small and medium-sized enterprises and innovative small and medium-sized enterprises.

The board of directors of Huihe Biotechnology stated that
"We are very grateful to various investment institutions and new shareholders for their high recognition and trust in the company. Huihe Biotech’s current clinical research on CC312 is progressing smoothly, and other pipeline products of the T cell engager platform targeting solid tumors will soon enter the preclinical CMC and pharmacology/toxicology stages. , at the same time, the pipelines of the NK cell platform and macrophage platform are also accelerating, and very meaningful preliminary efficacy verification data have been obtained. With the completion of the new round of financing, Huihe Biotech will continue to uphold the principle of " continuous innovation, "Benefiting the people, working together with one heart, and embracing all rivers", we adhere to our own innovative ideas, develop original drugs with real clinical value in China, and are committed to creating greater clinical value and capital returns for patients and shareholders."

Mr. Qian Tingzhi, managing partner of Jingxu Venture Capital, said "Huihe Biologics has the world’s leading technology platform and experienced team in the field of antibody drug research and development for tumor immunotherapy. Relying on the three independently developed tumor immune cell new drug platforms, combined with clinical and market needs, the biopharmaceutical version of "CAR- "The efficacy and cost advantages are significant, and we continue to be optimistic about the application potential of Huihe Biotech’s team’s technology in the field of tumor treatment."

Shenzhen Venture Capital investment team stated "Tumor immunotherapy is the frontier in the field of biomedicine. Huihe Biotech has excellent technical capabilities and experience in the research and development of multi-specific antibody innovative drugs. Since monoclonal antibodies and dual antibodies have successively set off a wave of research and development in tumor immunotherapy, three Anti-antibodies make the combination of antibodies richer and more diverse, and also provide more space for the development of antibody drugs. We believe that with the efficient R&D platform of dual-signal activated T cells, Huihe Biotech can continue to lead the innovative development and industrial implementation of tumor treatment antibodies , we are very optimistic about the team’s capabilities, and we look forward to accompanying and helping the company become a global leader in innovative antibody research and development."

The person in charge of Tailong Investment said "Huihe Biotech is based on the differentiated perspective of global unmet clinical needs, deeply cultivates original innovation, develops antibody research and development platform technology, and continues to sustain the research and development of new drugs. Tailong Investment has always pursued globally innovative products and an excellent operation team. We Seeing the rise of innovative drugs in China, and continuing to be firmly optimistic about Huihe Biologics, we expect this round of financing to help the company ride the wave and bring more products with real clinical value to benefit patients."