Shenzhen Xbiome Biotechnology Co., Ltd.

Huili Bio, a Hong Kong-based biotech, has reeled in “hundreds of million RMB,” which equates to at least $15 million, in a Series A financing. The four-year-old startup is using synthetic biology to computationally design enzymes. The financing round will bankroll hiring, research and development for “new product pipelines” and ramp up the construction of “large-scale production facilities,” the company said Thursday. Legend Capital led the financing round. Huili Bio’s goal is to reduce the costs of developing pharmaceutical products from lab to industrial production to commercialization. “The synthetic biomaterials market is vast and an important area in the green and low-carbon direction. As the core component of synthetic biology, the design and transformation of enzymes will benefit more traditional biotechnology industries with low-cost and sustainable green production methods,” Legend Capital executive director Henry Ji said in a statement. Legend also invested in the $150 million Series E for China and US CRO ClinChoice earlier this week. The investor has also backed the likes of microbiome startup Xbiome. — Kyle LaHucik Precision Autoimmune Therapeutics received RMB 140 million (about $21 million) in its first round of financing, partner and 15% stakeholder CASI Pharmaceuticals said Friday. The biotech, formerly known as Beijing Tianshi Tongda Pharmaceuticals Technology Co, will use the funds to develop drugs for autoimmune and inflammatory diseases, hence the company’s new name. PAT teamed up with CASI in late May on the US biotechs’ CID-103 program in autoimmune indications. As part of the financing round, PAT will deliver $5 million to CASI in the first of two upfront payment installments. That gives PAT access to a worldwide sub-license for the investigational anti-CD38 monoclonal antibody. CASI keeps exclusive US commercialization and co-marketing rights in autoimmune indications. For hematology indications in China, CASI maintains the co-commercial rights but isn’t obligated to co-commercialize those programs in that market, the company said. — Kyle LaHucik A biotech based in Guangzhou, China, specializing in live biotherapeutics has netted another round of funding. Zhiyi Biotech announced on Thursday that the company has raised an additional $15 million in its B++ funding round, bringing the Series B funding round to a total of $45 million . According to the company, the funds will be used for the clinical development of the company’s live biotherapeutic products (LBPs) pipelines. According to the company’s website, the company has six projects in its arsenal with most products in the pre-clinical stage. Their lead candidate, dubbed SK08, was approved for clinical trials in November 2019 and has advanced as far as a Phase II trial. “Zhiyi has been always focusing on the unmet medical needs and dedicating to developing accessible drugs to benefit more patients. We are looking forward to strengthening our international collaboration with peer companies, to promote the development of the whole LBPs industry,” said Ye Wang, CEO of Zhiyi. The investors in the round included Qingkong SinoKing Capital, SDIC Venture Capital and KIP, among others. — Tyler Patchen