In January 2022, TYK Medicines, Inc. (hereinafter referred to as TYK Medicines), a leading company in the research and development of new antitumor drugs based in China and with a global presence, announced the completion of a 330 million RMB Series C financing round led by Huge Capital and followed by other well-known institutions such as Yangtze River Fund and Zhejiang United Investment Group/Zhejiang Silk Road Fund. WinX Capital acted as the exclusive financial advisor for this round.

 

Dr. Yusheng Wu, the Chairman of TYK Medicines, said:

“I am very grateful to the new and old shareholders for their recognition of the company. The company focuses on the research and development of innovative antitumor small molecule drugs by gathering a group of experienced experts and returnee talents. The company had built first-class drug development laboratories and the DP plant The competitive product pipeline has been recognized by many well-known investment institutions, and the company will continue to improve product promotion efficiency to return the trust of investors and patients.”

 

Chao He, a partner at Huge Capital, the lead investor in this round, said:

“For major unmet medical needs such as lung cancer and breast cancer, TYK Medicine has done in-depth research and prospective exploration on non-small cell lung cancer and HR+/HER2- breast cancer for Asian premenopausal women. Relying on the mature small molecule development and developability assessment platform, TYK Medicines has developed a series of small molecule drugs covering various NSCLC and CDK series antitumor target kinase inhibitors. In addition, the company has a deep understanding of the drug resistance mutation mechanism of ROS1 G2032R, TRKA G595R, ALK G1202R, etc., which have no specific drugs in the world, and has designed compounds targeting these drug resistance mutations, which have been demonstrated excellent efficacy and safety profiles via cell lines and in vitro/vivo animal models. The team works smoothly with extremely high efficiency, which reflected the maturity of the company’s small molecule R&D technology platform. We are very optimistic about the future development of the company and are very happy to be able to cooperate with such an excellent company. We also look forward to the company’s future development of world-class innovative drugs in the field of lung cancer focusing on unmet medical needs, particularly in lung cancer drug resistance mutations, CDKs, and other cell cycle kinases. I believe that the future development of the company will be better and better.”

 

Li Shen, the managing director at Zhejiang United Investment Group, said:

“We are honored to participate in this round of financing of TYK Medicines. Relying on a mature innovative small molecule drug development platform, the company is deeply engaged in the field of solid tumors that are unmet medical needs such as lung cancer and breast cancer. In recent years, the company has developed rapidly with the support of all walks of life. The company has a diversified pipeline with a reasonable layout, considering clinical needs and the variety of developability assessments. The drug R&D is progressing smoothly, including TY-9591, TY-302, etc. The team has a strong professional background with rich experience, tacit cooperation, and high execution efficiency. We hope that the company’s drugs can be approved for the market as soon as possible to benefit a vast number of cancer patients, and hope that through this round of investment by Zhejiang United Investment Group/Zhejiang SilkRoad Fund, TYK Medicines will be empowered to accelerate its drug listing, market layout, and benefit the society.”

 

Dr. Guowen Zou, the Partner of WinX Capital, said:

“WinX Capital is honored to help TYK Medicines complete this round of financing. The company’s innovative anti-tumor product pipeline has huge market potential, which perfectly balances the high risk and homogeneity of drug research and development. Through forward-looking and differentiated project establishment strategies, the company The pipeline has both high-certainty products that have advanced to the late stage of clinical trials and highly innovative varieties that have entered clinical trials one after another. Among them, TY-2136b has also reached strategic cooperation with Livzon Pharmaceutical, which reflects the company’s strong R&D capabilities. We hope the products of TYK Medicines will be launched as soon as possible, benefiting the patients.”

 

About TYK Medicines

TYK Medicines, Inc. was established in November 2017 in Life Science Park Changxing Economic Development Zone with a fully functionalized 30,000 square meters world-class drug discovery R&D center; subsequently, the company set up the administrative headquarters, medical affairs, and business development in Shanghai. In Zhengzhou, the company has its small molecule drug screening platform. In addition to the current scope, the company is building DP plants in Changxing, Zhejiang Province, and Songjiang District, Shanghai. Thus, the company is capable of a whole industry chain of innovative drug discoveries, as well as drug manufacturing, which makes the company the first-tier innovative biotechnology company in China.

TYK medicines owned world-class research and management team. The executive committees have more than 20 years of experience in researching and managing, including 2 national-level talents, 2 Zhejiang provincial-level talents, and more than 10 experts and doctoral returnees. Through 4 years of vigorous development, the company has more than 100 employees and found professional teams of new drug discovery, developability assessment, CMC, regulatory affairs, medical affairs, business development, and administrative operation.

The company focuses on developing Best-in-Class & First-in-Class small molecule anticancer drugs. TY9591 will initiate the phase III clinical trial. TY302 will enter phase II clinical trial soon. TY2136b obtained the FDA’s IND approval in November 2021 and was submitted to the FDA for the Orphan Drug Designations application in December 2021. Besides, the company also has a series of pipelines for novel small-molecule targeted drugs that are planning to submit to the FDA and NMPA IND

 

About Huge Capital

Huge Capital is a professional asset management platform rooted in China’s capital market. It has rich experience and outstanding professional ability. It is committed to in-depth cooperation with outstanding entrepreneurs and managers and uses various strategies and tools in the private equity market to create sustainable, steady financial returns and focus on long-term sustainable social value creation.

Since its establishment in July 2015, Huge Capital’s cumulative assets under management have reached more than 5 billion, completing M&A, fixed income, and equity investments in 24 companies, and 14 of the invested companies have IPOs, securitization fields, or achieved exits.

Huge Capital’s portfolio companies include FULIN P.M. (300432.SZ), Top Resource Conservation and Environment Group (300332.SZ), and Tongwei co., Ltd (600428.SH). The companies invested in the big health sector include Yifeng Pharmacy (603939.SH), Righton Gene (688217.SH), Youcare Pharmaceuticals (688658.SH), and Mabworks, which is proposed to be listed in Hong Kong.

 

About Qianhai Yangtze River Fund Management (Shenzhen) Co., Ltd.

Qianhai Yangtze River Fund Management (Shenzhen) Co., Ltd. (hereinafter referred to as Yangtze River Fund) was founded in 2016, it is a private equity fund manager registered with the China Association of Fund Industry. It specializes in private equity investment and management in the field of strategic emerging industries. Yangtze River Fund team has rich resources in semiconductor, medical, new energy, and artificial intelligence industries and successful investment and asset management experience. Through the systematic operation, Yangtze River Fund accurately grasps systematic industrial investment opportunities, takes industry chain investment as the entry point, devotes itself to supporting the growth of high-tech and highly innovative enterprises, and continuously introduces high-quality listed enterprises to the Chinese capital market.

 

About Zhejiang United Investment Group/Zhejiang SilkRoad Fund

Zhejiang United Investment Group (hereinafter referred to as ZUIG) is a large-scale joint-stock industrial and financial investment company, that accumulates capital and financial resources from Zhejiang-based outstanding private enterprises. ZUIG draws on guidance and support from the Zhejiang Federation of Industry and Commerce and the Zhejiang Provincial Financial Service Office. The company was established in April 2015 by eight leading Zhejiang-based private enterprises and institutions， which were CHNT Group, FUTONG Group, GreatStar Group, Wolong Holding Group, Wanfeng Auto Holding Group, AUX Group, SUNON Group, and Hangzhou Jinjiang Group. ZUIG acts as a trailblazer in cooperative development within the cross-industrial operations in the investment field.

ZMIC/Zhejiang Silk Road Fund has completed nearly RMB 4 billion investment in the medical and health sector, in addition to holding A-share listed blood products company Pacific Shuanglin Bio-pharmacy Co.,Ltd.( 000403.SZ), the invested companies include Guobang Pharma (605507.SH), CMR Surgical, Drug Farm, Third Venture Biopharma, Shenqi Medical, Xtalpi, FlashDX, Chemball, Robocath, etc. Its segmentation covers biologics, APIs, innovative drugs, pharmaceutical AI, surgical robots, and minimally invasive interventional consumables, etc.

 

About WinX Capital

WinX Capital is the leading investment bank in China in the field of big health. The founding team is five PhDs in global finance from the School of Finance at Tsinghua University, and the frontline team has an average of 10+ years of management and M&A experience, with a cumulative investment and M&A value of over RMB 30 billion. Headquartered in Beijing and Shanghai, the firm covers more than 3,000 active investment institutions and industry groups. 2020 and 2021 have been continuously ranked as the “Top 5 Most Growing New Investment Banks in China by 36 Krypton,” and “Top 4 Best Financial Advisors in Healthcare in 2020″ by Qiming Technology & New Voice Venture Services. The best financial advisory institutions in the field of health care Top 4”.