Medimscience Bio. is the pioneer domestic emerging biotechnology enterprise in China focusing on the development of new target drugs for macrophages. Immunotherapy drugs are currently the most important treatments for cancers and autoimmune diseases, but the existing T-cell-based therapies have obvious limitations. Novel strategies targeting macrophages are expected to overcome those shortcomings of existing immunotherapy drugs. This round of financing was led by Co-win Venture Capital and followed by Redhill Capital, and the funds raised will be mainly used for the research and development of the existing product pipeline and the introduction of high-end talents.
Tumor immune microenvironment is the soil for the occurrence and development of solid tumors, and also determines the effect of tumor immunotherapy. Overall, tumors with abundant T-cell infiltration are often called "hot tumors"; on the contrary, tumors with little T-cell infiltration and more myeloid cell infiltration, such as macrophages, are "cold tumors". Most solid tumors are "cold tumors". Clinical data show that "hot tumors" respond well to immunological drugs that modulate T-cell function (e.g., PD-1/PD-L1 antibodies), but "cold tumors" show resistance to PD-1/PD-L1 antibody therapy. There are ample evidences that macrophages help tumors escaping the surveillance of immune system. More interestingly, these macrophages also assist in the formation of a physical barrier that inhibits T cell infiltration. Based on the new targets on macrophages, Medimscience Bio. will develop first-in-class drugs to promote the Re-programming of the Tumor Immune Micro-Environment, aiming to build ice-breakers to overcome the immunosuppression of "cold tumors".
The autoimmune diseases, such as inflammatory bowel disease, affect millions of patients worldwide. The market value of medications targeting these autoimmune conditions reaches billions of dollars. Targeted therapies, including TNF-α and JAK inhibitors, face challenges like increased infection risks, resistance development, and side effects. Their efficacy varies among patients, emphasizing the need for treatments with new mechanism. In response to the current therapeutic landscape, Medimscience Bio. is committed to researching novel drugs targeting macrophage targets. Through mechanisms that motivating macrophages to eliminate abnormally activated T cells and modulating macrophages to prohibit the onset of Th17 responses, Medimscience Bio. aims to overcome the limitations of existing autoimmune disease treatments, offering effective and improved treatment options for numerous patients suffering from autoimmune diseases.
The founder of Medimscience Bio. said, "We are very grateful for the recognition of Medimscience Bio. by Co-win Ventures and Redhill Capital. Currently, there is a scarcity of biotechnology companies engaging in source innovation in China. Medimscience Bio. is committed to the discovery and validation of novel drug targets from macrophages. We are developing First-In-Class anti-tumor drugs based on the theory of re-programming the tumor immune microenvironment, in order to overcome the problems of low response rate of the PD-1/PD-L1 inhibitors. Additionally, we are developing First-In-Class drugs for autoimmune diseases based on the mechanisms that motivating macrophages to eliminate abnormally activated T cells and modulating macrophages to inhibit the initiation of Th17 responses. Some of our new target therapies have already seen curing phenotypes in tumor and IBD animal models, and we are looking forward to the clinical translation of these products for the benefit of patients worldwide."
Dr. Xin Huang, Managing Partner of Co-win Ventures, said, "Currently, T-cell based tumor immunotherapy has encountered many bottle necks, and the Medimscience Bio. team has accumulated a lot of breakthrough discoveries on the basic biological mechanisms of tumor-associated macrophages, and has used them as a basis to develop drugs for reprogramming the immune microenvironment of cold tumors. Additionally, they have achieved notable advancements in the treatment of autoimmune diseases by targeting macrophages. Co-win Ventures is very pleased to be involved in Medimscience Bio 's first-in-class innovative drug development journey at this early stage and looks forward to working with the company to promote original new drug development in China."
Dr. Jack Lee, Partner of Redhill Capital, commented, " Medimscience Bio. is a typical biotech company formed by outstanding scientists plus CEOs, which meets our investment criteria; the founders have a deep research foundation and unique understanding of the macrophage field, and the company has already built a well-established macrophage cell biology program. The founders have a deep research foundation and unique understanding in the field of macrophages, and the company has constructed a perfect platform for the development, validation and translation of new macrophage targets; we are very optimistic about the drug potential of macrophage-related targets, and we are also full of confidence in the company's future development."
About Co-win Ventures
Co-win Ventures is a dual-currency venture capital firm focusing on early-stage technology-based companies, advocating a team culture of equality, transparency, sharing, and innovation. Founded in 2009, the firm focuses on the healthcare and IT hard technology sectors, with a cumulative management scale of over RMB 5 billion, and has provided financial and resource support to more than 100 outstanding teams and projects. Co-win Venture Capital has helped more than 10 high-tech companies, such as Connect Biopharm (NASDAQ: CNTB), Thrive (NASDAQ: EXAS), ZJ-Innolight. (300308), Memsensing (688286), CHSR (000008), and Ao Lian Electronics (300585), etc.
About Redhill Capital
Redhill Capital focuses on early-stage investment in innovative medical technology companies. Redhill Capital currently manages two RMB funds with investors including well-known market-based funds, asset management companies, government-guided funds, industrial capital, family offices, and well-known listed companies.
Souce: Medimscience 2021-06-21