Week In Review: Sciwind, A Hangzhou Biopharma, Raises $29.5 Million For NASH Treatments

Hangzhou Sciwind Biosciences completed a $29.5 million series A round, led by Legend Capital (see story). Established in 2017, Sciwind is developing protein and peptide candidates for non-alcoholic steatohepatitis (NASH) and the diseases it causes, including diabetes, liver fibrosis and cirrhosis. The company expects it will submit INDs for two undisclosed compounds in 2019. Shiyu Capital and Kawin participated in the round.

Shukun Technology, a Beijing medical artificial intelligence company, raised $29.5 million in a series B financing round led by China Creation Ventures, a VC firm focusing on the China TMT (see story). Shukun combines expert and machine intelligence to improve the diagnostic experience in hospitals. Its lead product, CoronaryDoc, is being tested in clinical trials as a first-in-class AI product to diagnose heart disease. The company said it aims to address the shortage of specialized MDs in China.

GenomePrecision Technology of Beijing completed a $15 million B round, led by Yizhuang Biomedical M&A Fund (see story). A six-year-old company, GenomePrecision develops molecular diagnostic products including precision medicine tests. Its operations include R&D, manufacturing, distribution, registration and services. The company has developed multiple series of tests for leukemia, lymphoma, transplant typing, solid tumor detection, pharmacogenomics, pathogen detection, cervical cancer products and research use.

Innovent Biologics (HK: 01801) of Suzhou will collaborate with Shenzhen Chipscreen Biosciences to evaluate a combination of Tyvyt®, Innovent's China-approved PD-1 immunotherapy, with two Chipscreen products in patients with colorectal cancer (see story). The two Chipscreen molecules are Chidamide, a China-approved HDAC inhibitor, and an Avastin biosimilar. Tyvyt® is registered in China for relapsed or refractory classical Hodgkin's lymphoma. Innovent is currently testing Tyvyt in more than twenty clinical trials including seven registration studies. Chidamide induces apoptosis by inhibiting the cell cycle.

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