Led · Series B · Feb 2024

Heqirui Pharmaceutical is a science-driven clinical-stage innovative biopharmaceutical company with R&D bases and offices in Beijing, Shanghai and Nanjing. The company was founded on translational research led by Professor Xiao Ruiping and his team at Peking University's Future Technology Institute. Heqirui focuses on women's health, endocrine and cardiovascular disease areas and is building a diversified pipeline to address unmet clinical needs. Its development model combines in-house R&D with patent in-licensing. The core pipeline includes HMI-115, a monoclonal antibody currently conducting two international Phase II clinical studies. The company recently completed a nearly RMB 200 million B+ financing to support HMI-115's international trials and continued development of other product lines. Hope Medicine Inc. (HopeMed) is a global, science-driven innovative biopharmaceutical company founded by Professor Rui‑Ping Xiao with R&D bases and offices in Nanjing, Shanghai, and Beijing. The company focuses on first-in-class drugs in women's health, endocrinology, and cardiovascular areas through independent R&D and license‑in models. Its pipeline includes HMI‑115, a prolactin receptor antibody in-licensed from Bayer for androgenic alopecia and endometriosis; HMI‑115 completed Phase I trials in the EU with positive safety results. HopeMed plans to launch global multi-center Phase II (MRCT) trials for androgenic alopecia and endometriosis and to advance commercial product development. The company emphasizes building an international multidisciplinary team and strengthening global intellectual property to address unmet medical needs. HopeMed completed a significant Series B financing to support its upcoming international clinical studies and further development of its pipeline.

Participated · Series C · Apr 2022

Laiye builds a unified platform for automating office workflows, combining conversational AI and robotic process automation to handle tasks from answering calls to processing documents. The company was founded in 2015 and is headquartered in Beijing. Laiye reports that its consumer and SME products are already profitable, while its enterprise/Fortune 500 segment still requires substantial investment in product development and sales. It serves nearly 200 large corporate customers and works with global consultancies such as Deloitte and KPMG; its software is available on Microsoft Azure and Alibaba Cloud. The company claims a developer community of about 600,000 and currently generates roughly 20% of revenue outside China, with a goal to raise that to 50% by 2025 and to expand its international headcount similarly. Laiye has been hiring international executives to drive global expansion and picked Paris as a European base after acquiring chatbot provider Mindsay to accelerate language and product development. Laiye is a Beijing-based software company that develops robotic process automation (RPA) and chatbot products to mimic mundane workplace tasks like keyboard strokes and mouse clicks. Its RPA tools have been used to speed account reconciliation in Lanzhou by 75% and to automate national population census work in several southern Chinese cities. Laiye runs a free-to-use edition with over 400,000 developers and operates a bot marketplace connecting freelance developers with small businesses. The company said its RPA enterprise business achieved positive cash flow and its chatbot business turned profitable in the fourth quarter of 2020, and it has raised over $130 million to date. Laiye is led by Baidu veterans, employs about 400 staff globally with entities in China, Singapore and the U.S., and is expanding its footprint across Asia, the United States and Europe while hiring in Europe. Its stated plans include certifying at least one million software robot developers by 2025 and building the world’s largest bot marketplace within the next three years. Laiye builds an RPA platform called UiBot that automates routine enterprise tasks by mimicking human interactions and integrating AI capabilities such as NLP, OCR, computer vision, chatbots and machine learning. The company serves major tech firms and government agencies in China and counts Microsoft as an investor. UiBot is multilingual and has more than 200 partners and over 200,000 developers registered to use the platform. Laiye says it combines AI with human talent to scale automation projects and compete in a growing RPA market. The four-and-a-half-year-old startup has raised more than $100 million to date and will use new capital to hire global talent and expand its services and geographic reach. Laiye merged with Chinese RPA team Awesome Technology and launched UiBot in January as its RPA product offering. The company combines AI-enabled chatbots with RPA to let clients build bots with both “brains and hands.” Since UiBot’s launch it has collected about 300,000 downloads and 6,000 registered enterprise users. Corporate customers include Nike, Walmart, Wyeth, China Mobile and Ctrip. Laiye plans to use new funding to recruit R&D and sales talent, grow its AI capabilities beyond natural language processing, deep learning and reinforcement learning, and accelerate commercialization of its robotic solutions across industries.

Led · Equity · Dec 2021

SyMap Medical is a Suzhou, China-based medical device company that develops device therapies for unmet clinical needs in cardiovascular and pulmonary diseases, including hypertension, heart failure, arrhythmia, asthma and early-stage lung cancer. Its proprietary SyMapCath I™ Catheter/SYMPIONEER S1™ RF system maps renal nerves for selective renal sympathetic denervation and provides feedback to physicians before, during, and after procedures. The company is also developing the Elation™ system to treat severe asthma via bronchial radiofrequency ablations. SyMap is conducting two pivotal trials in China: the SMART Study (NCT02761811) for uncontrolled hypertension and the BATA Study (NCT03765307) for severe asthma, each overseen by leading clinical investigators and guided by international experts on its Scientific Advisory Boards. Both systems have been granted “Green Channel Device” status by China’s regulatory agency. The company plans to use new funding to accelerate global clinical trials, advance next-generation renal mapping/selective RDN systems and interventional pulmonary products, and co-develop technologies with partners in the U.S. and Israel.

Participated · Series B · Apr 2021

百力司康 (Bailisikan) is a clinical-stage biopharmaceutical company founded in December 2017 in Hangzhou, focused on developing innovative antibody-drug conjugates (ADCs). Its lead candidate, BB-1701, is an Eribulin-based ADC undergoing a China–U.S. combined Phase I study; the Eribulin payload was licensed from Japan's Eisai and has established clinical safety and efficacy. The company holds global development and commercialization rights for BB-1701 and plans a second Eribulin ADC, BB-1705, with dual China–U.S. filings expected this year. 百力司康 also claims a proprietary site-specific conjugation technology and is advancing multiple best-in-class and first-in-class programs in its pipeline. Proceeds from the recent financing will support international multicenter clinical development of BB-1701, preclinical and registration work for other programs, and construction of R&D and manufacturing facilities.

Led · Series A · Mar 2021

Chime Biologics is a CDMO that offers one-stop integrated solutions for biopharmaceutical development through late-stage clinical and commercial cGMP production, operating a GE KuBio modular bio-manufacturing facility in Wuhan Bio-Lake. The facility complies with global regulatory quality standards including ICH, FDA, EMA and NMPA, and the company holds ISO 14001:2015 and ISO 45001:2018 certifications. Since 2016 Chime has supported clinical materials and production across scales from 50L, 200L, 500L to 2,000L and has provided clinical supply to customers in over 20 countries. To meet customer demand the company has begun a second phase expansion to increase total manufacturing capacity to more than 140,000L within the next five years. Leadership is highlighted by Executive Chairman James Huang and CEO Dr. John (Xianfang) Zeng. Financially, the company recently secured a Series A+ commitment, building on a prior Series A of US$125m completed in early 2020.