BlueRun Ventures Leads Series B Financing Round of Over 100 Million RMB for QLT Biotechnology | BlueRun Ventures Portfolio
It is poised to become one of the key players in the metabolic disease space, both domestically and globally.
Recently, Beijing Zhitai Biomedical Technology Co., Ltd. (hereinafter referred to as "Zhitai Bio") announced the completion of a Series B financing round worth hundreds of millions of RMB, led by BlueRun Ventures, with follow-on investments from Taizhou Huayin Jintou, Lichen Investment, and Mingfeng Capital. The proceeds will be primarily used for clinical development of its pipeline products and construction of production facilities.
Rong Jing, Managing Director of BlueRun Ventures, stated: Among domestic GLP-1RA R&D companies, only a handful possess independent fatty acid modification technology capabilities, and Zhitai Bio stands out as the most differentiated. Directly benchmarking against semaglutide, the company employs proprietary long-acting technology with the potential to achieve once-monthly dosing, with the goal of surpassing semaglutide in both efficacy and patient compliance going forward. Additionally, Zhitai has systematically laid out higher-difficulty oral and dual-target GLP-1RA drugs. We believe Zhitai has the potential to become a significant player in the metabolic disease space domestically and globally, securing an advantageous position in the rapidly growing weight management market.
Founded in September 2018, Zhitai Bio's core team members hail from renowned domestic and international companies including Novo Nordisk and Gan & Lee Pharmaceuticals, bringing extensive experience in recombinant protein drug development. The company focuses on producing recombinant protein drugs using E. coli, dedicated to developing innovative biologics for chronic metabolic diseases such as diabetes, obesity, and non-alcoholic fatty liver disease to improve public health management and quality of life.
The global metabolic disease market is substantial, with patient numbers continuing to grow year after year. Taking diabetes and obesity as examples, these conditions are gradually becoming global health concerns. According to statistics from the U.S. Centers for Disease Control and Prevention, diabetes and obesity rank among the top ten chronic diseases with the highest healthcare expenditures. As a major metabolic disease country, China — per the Report on Nutrition and Chronic Disease Status of Chinese Residents (2020) — has an adult obesity rate of 16%, with overweight and obesity rates reaching 10.4% among children under six and 19% among adolescents aged 6–17; according to the IDF Diabetes Atlas 2021, China's total diabetic population stands at 140 million, ranking first globally, indicating tremendous market growth potential.
Centered on the metabolic disease field, Zhitai Bio has established a complete recombinant protein production chain built on its proprietary intellectual property platform, maintaining international leadership across multiple stages including engineered strain modification, drug design, protein expression, inclusion body refolding, protein purification, process development and scale-up, and oral formulation development. The company's pipeline development has entered a fast track: its novel ultra-long-acting GLP-1 receptor agonist (with potential for once-monthly dosing) has entered Phase I clinical trials in Australia, and its semaglutide injection has received domestic clinical approval. Upon future market launch, these products are expected to substantially reduce patient treatment burden and benefit patients.
Zhang Xujia, Founder, Chairman and CEO of Zhitai Bio, stated: We are deeply grateful for the support and trust from our investors. The metabolic disease field harbors enormous unmet clinical needs. Zhitai Bio remains patient-centered and innovation-driven, having built a proprietary technology platform covering the complete recombinant protein development and production chain from early-stage R&D through manufacturing. We will continue to innovate and expand our pipeline. Going forward, we will accelerate the progress of our development programs to bring forth more and better innovative biologics, meeting people's rapidly growing demands for life and health and their aspirations for a better life.
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Originating in Silicon Valley, BlueRun Ventures was established in 2005 as a venture capital firm focused on early-stage startups.
Currently, BlueRun Ventures manages multiple USD and RMB dual-currency funds in China, with assets under management exceeding RMB 15 billion, making it one of the largest early-stage funds in the country. The firm invests primarily at Pre-A and Series A stages, covering sectors including hard tech and innovative interaction, enterprise technology, new consumer, and healthcare. It has cumulatively invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi Used Car, Qudian, Songguo Mobility, Ganji.com, Energy Monster, Yuntou Semiconductor, Machenike, Clouds Intelligence, Anxin Network Shield, and BioMap.
BlueRun Ventures has been ranked first on Zero2IPO's "Top 30 Early-Stage Investment Institutions in China" and ChinaVenture's "Top 30 Best Early-Stage VC Firms in China," and was named among Preqin's Top 10 Global VC Fund Managers for Sustained High Returns.
Additionally, BlueRun Ventures has received consecutive recognition from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media organizations with honors including "China's Best Early-Stage Firm of the Year," "China's Top Venture Capital Firm," "Most Entrepreneur-Friendly Early-Stage Firm of the Year," and "Most Influential Early-Stage Firm of the Year."