The Venture Codex

Led · Series A · Aug 2025

Ribopeutic is a China-based RNA therapeutics developer that combines artificial intelligence with laboratory validation to identify RNA structures targetable by small molecules. Founded in 2022 and emerging from stealth, the company is advancing its pipeline toward investigational new drug (IND) filings. Its programs target central nervous system disorders, cancer, and autoimmune conditions. Ribopeutic recently secured close to 100 million yuan (~$13.9M) in pre-A financing to push its lead programs forward. The funding is intended to support advancement of lead programs and to expand the company’s early-stage pipeline.

Participated · Series C · Aug 2018

Profusa develops bioengineered, tissue-integrating biosensors that become one with the body to detect and continuously transmit medical-grade data of body chemistry for personal and medical use. Its first clinical offering, the Profusa Lumee™ Oxygen Platform, is CE Marked for use in the European Union and is designed to report reliable tissue oxygen levels both acutely and long-term. Potential applications cited include monitoring compromised tissue such as peripheral artery disease, chronic wounds like diabetic ulcers and pressure sores, sleep apnea, COPD, and reconstructive surgery. The company intends to use the Series C proceeds to advance commercialization of the Lumee Oxygen Platform and to accelerate development of its glucose biosensor technology. Profusa is led by chairman and CEO Ben Hwang, Ph.D. The financing strengthens the company's ability to move toward broader market adoption and further product development. Profusa develops biologically integrated, implanted biosensors for long-term, continuous monitoring of body chemistry to improve personal health and manage disease. Its first product, the Lumee Oxygen Sensing System™, measures tissue-oxygen perfusion and is slated to be available in Europe in early 2016 for clinical management of chronic wounds. The company intends to use recent funding to advance development and commercialization of its technology. Profusa is led by chairman and CEO Ben Hwang, Ph.D., and was founded in 2009 in South San Francisco, CA. In conjunction with the Series B, Karen Liu of 3E Bioventures and Joan Braddi of Google joined Profusa’s board. To date the company has raised more than $30M in funding.

Participated · Series B · Jan 2017

Ascletis develops treatments for liver diseases, with a pipeline that includes direct-acting antivirals and RNAi therapeutics. Its HCV assets include Danoprevir (ASC08), an NDA-filed HCV protease inhibitor licensed from Roche, and Ravidasvir (ASC16), a phase 2–completed HCV NS5A inhibitor licensed from Presidio Pharmaceuticals, enabling triple and all-oral interferon-free regimens for chronic hepatitis C patients. The portfolio also contains ASC06, a clinical-stage, first-in-class RNAi therapeutic for liver cancers licensed from Alnylam Pharmaceuticals, and ASC09, a phase 2a–completed HIV protease inhibitor licensed from Janssen. Led by founder, president and CEO Jinzi J. Wu, Ph.D., the company plans to use proceeds from the recent financing to expand its product portfolio and sales force. The business completed a US$100M Series B financing to support these growth plans. Ascletis is a China-based biotechnology company dedicated to discovering, developing and commercializing new treatments for infectious diseases and cancer. The company is led by founder, President and CEO Jinzi Wu, PhD. Ascletis owns four products in the clinical phase with proprietary intellectual property rights: ASC08 (HCV NS3/4A protease inhibitor, licensed from Roche), ASC16 (HCV NS5A inhibitor, licensed from Presidio Pharmaceuticals), ASC06 (an RNAi therapeutic for liver cancer, licensed from Alnylam Pharmaceuticals) and ASC09 (an HIV protease inhibitor, licensed from Janssen). The company intends to use recent funds to strengthen R&D capacity and broaden the scope of its R&D pipeline. In the past two months Ascletis completed two rounds of financing to support its clinical-stage pipeline. Reported financings include a US$35M round led by C-Bridge Capital, Tasly Pharmaceutical and Pavilion Capital, and a US$20M investment from Goldman Sachs. Ascletis is a U.S.-China joint-venture pharmaceutical company developing innovative treatments for cancer and infectious diseases. The company leverages U.S./European innovation and pharmaceutical/biotech strategic experience together with China’s capital efficiency. Ascletis plans to drive near-term revenues through in-licensing, late-stage clinical development, and commercialization for the Chinese pharmaceutical marketplace. It is also building long-term value via discovery, demonstration of clinical proof-of-concept, and global partnering of novel therapeutics. The company has collaborated with partners in Research Triangle Park, North Carolina, while establishing operations in Hangzhou. Ascletis reported rapid R&D progress since its formation in early 2011 and has previously raised a $100 million Series A from private investors. Ascletis is a joint U.S.-China specialty therapeutics venture focused on discovering and developing treatments for cancer and infectious diseases. The company combines U.S. innovation and strategic drug-development experience with China’s cost-efficiencies and scientific workforce, operating in Hangzhou, China and the Research Triangle Park area of North Carolina. Ascletis plans near-term revenue growth by in-licensing clinical-stage compounds for development and commercialization specifically for the Chinese pharmaceutical market. It also intends to discover and advance early-stage leads through clinical proof-of-concept and then partner globally to create long-term value. The company is led by co-founder, President and CEO Jinzi J. Wu, Ph.D., who has prior drug-discovery leadership at major pharma and biotech firms. Ascletis has secured committed financing to support team building, in-licensing, and development activities.