RNA tech start-up Hongxin Shengwu is gaining the support of venture funds to advance its nucleic acid delivery system innovation
Shenzhen Hongxin Shengwu (Chinese: 虹信生物) which specializes in developing the delivery system for nucleic acid drugs recently raised millions of CNY in the angel financing round.
This round was backed by Tianyu Pharm (Chinese: 天宇药业) who will become a strategic shareholder after the deal.
This fund will accelerate the scaled-up manufacturing of the best-in-class ionizable amino lipids and the assessment progress of pharmacology and pharmacodynamics, in a bid to further strengthen Hongxin Shengwu’s lead in constructing a delivery system for nucleic acid drugs at home.
Meanwhile, the funding will also be used for the construction of a 2,500-square-meter development center and GMP workshop located in Guangming District, Shenzhen.
These two facilities are designed for the clinical trials (IIT) that are due to begin in the second half of 2022 and clinical registration of new drugs (IND), which are planned for the first half of 2023.
Hongxin Shengwu was founded in 2021. The core research team is led by top talent in the mRNA field, among whom there are at least five PhD-holders. It was selected as one of the 7th batch of firms recognized by Shenzhen Institute of Synthetic Biology.
Hongxin Shengwu is dedicated to exploring the possibility of curing clinically incurable diseases with RNA technology. It has now established five platforms, including “Biological Information Center,” “mRNA Synthesis and Technology Center,” “LNP Preparation Center,” and “Non-clinical Assessment Center in Drugs.”