CoreVision Biopharma Closes Series A to Accelerate Global Clinical Development of Targeted Radiopharmaceuticals

On July 26, 2024, Jinghe Biotech, a biotechnology company focused on theranostic targeted radionuclide therapy (TRT), announced the completion of its Series A financing round. The round was co-led by Huajin Investment and Huajin Avenue, with Tigermed joining as a new investor. Existing shareholders Gaorong Ventures and Lichen Capital continued their investment. Gaorong Ventures had previously led Jinghe Biotech's angel round in 2022.

Founded in 2021, Jinghe Biotech was established by four experienced targeted radiopharmaceutical scientists with extensive track records in developing and successfully commercializing innovative radiopharmaceuticals. The company is dedicated to developing next-generation targeted radionuclide therapies (TRT) to improve patients' lives.

Building a Proprietary Targeted Radiopharmaceutical Development Platform with Leading Clinical Progress

Targeted radiopharmaceuticals use conjugation factors to link targeting molecules with radionuclides, leveraging precision targeting molecules to deliver therapeutic agents to systemic lesions. Through variations in the radionuclide, these drugs enable integrated diagnostic imaging and therapeutic treatment.

To date, Jinghe Biotech has established a proprietary technology platform for targeted radiopharmaceutical development, covering ligand screening, modulated conjugation factors (J-Linker), and clinical translation. Through its J-Linker multifunctional conjugation platform, the company can effectively increase drug exposure at disease sites while reducing exposure in other organs, thereby delivering better therapeutic efficacy and a wider safety margin for its pipeline candidates.

In July 2023, JH02 — a wholly self-developed therapeutic candidate with global rights — received implicit approval from China's Center for Drug Evaluation (CDE) to commence clinical studies, making Jinghe Biotech the first domestic company to secure IND approval in both China and the US for a TRT pipeline asset. In December 2023, JH02 completed first-patient dosing in its Phase I clinical trial. JH02 is indicated for the treatment of adult patients with prostate-specific membrane antigen (PSMA)-positive metastatic castration-resistant prostate cancer (mCRPC). Compared to similar products overseas, it demonstrates advantages including higher safety, superior therapeutic efficacy, and a simpler manufacturing process, positioning it as a promising new treatment option for patients.

This financing round will further accelerate the global Phase I/II clinical trials of JH02, as well as the China-US IND filings and clinical development of 68Ga-JH03/177Lu-JH04 — a theranostic molecule with multiple solid tumor indications — while advancing preclinical research and international collaborations for several subsequent innovative pipeline programs.

Advancing a BIC/FIC Dual-Driven Pipeline with a Global Perspective

Dr. Haihua Yu, Founder and CEO of Jinghe Biotech, stated: "Completing this financing in the current counter-cyclical environment fully demonstrates the recognition that leading investment institutions have for Jinghe Biotech's technology platform and team. We are deeply grateful to our new shareholders for their support and confidence, and equally thankful to our existing shareholders for their consistent trust and continued backing. We remain committed to advancing our BIC (Best-in-class) and FIC (First-in-class) dual-driven pipeline with a global perspective, striving to bring new effective treatments to patients as soon as possible and address unmet clinical needs."

A project lead at Gaorong Ventures commented: "Jinghe Biotech has a world-class international R&D team and a globally innovative vision. Since its founding, the company has rapidly advanced its BIC pipeline while maintaining highly efficient FIC development progress. Its PSMA prostate cancer program has secured IND approval in both China and the US, placing its clinical development at the forefront domestically, with the potential to become the first BIC domestic innovative drug in this field. Its other FIC pipeline assets also show significant potential for international expansion. We firmly believe in Jinghe Biotech's prospects in targeted radiopharmaceuticals and look forward to the company bringing better, more accessible innovative drugs to cancer patients."