On July 17, 2015, Suzhou Kintor Pharmaceuticals Inc. secured a $10 million funding from Highlight Capital, which specializes in the health industry opportunities.
Established in 2009, Kintor is a high-tech enterprise committed to R&D of new anti-cancer drugs. Prior to last round of financing, Kintor was invested by several VCs including Legend Star and Bioventure. Its pipeline products include a new generation androgen receptor inhibitor for prostate/breast cancer, and kinase-targeted inhibitors that are used to treat breast cancer, lung cancer, and liver cancer.
Dr. Tong Youzhi, founder and president of Kintor Pharmaceuticals, holds a bachelor’s degree and a master’s degree in chemistry from Peking University, and a Ph.D. in pharmacology from the Memorial Sloan Kettering Cancer Center, Cornell University. He has rich experience in not only drug discovery, tumor biology, and tumor animal models, but also entrepreneurial process. In 2002, he participated in the founding of Angion in the United States and successfully pushed a drug candidate into clinical phase 2.
Dr. Guo Xin, co-founder and Chief Scientific Officer of Kintor, also holds a bachelor’s degree in chemistry from Peking University. In 1998, he received a Ph.D. in organic chemistry from Purdue University. Dr. Guo has nearly 15 years of experience in new drug development in U.S. multinational pharmaceutical companies. He has led a number of projects and sent many drug candidates into the clinical testing stage. He is the author and owner of more than fifty papers and patents in the fields of synthesis and drug design and serves as paper judge for many international academic magazines.
Both doctors are enlisted as the National “Thousand Person Plan” experts.
The key drug in the pipeline of Kintor is Proxalutamide, class 1.1 new drug and second-generation androgen receptor (AR) inhabitor, mainly used for the treatment of patients with metastatic castration-resistant prostate cancer. Proxalutamide project was listed in the National Major New Drug Initiative under Twelfth Five-Year Plan in 2011. Kintor was also the smallest and youngest one among all the companies undertaking the project. On March 15, 2015, it was approved to Phase I-III clinical trial in China (exempt from phased approval).
Highlight Capital is a professional fund focused on the health industry. Similar to Kintor Pharmaceuticals, Highlight Capital is also a new entity founded and comprised of veterans in the VC sector. Its managing partner Wang Hui, was a senior partner of CDH Ventures and became the youngest member of the investment committee of CDH in 2013. The medical investments led by Mr. Wang since 2009 include Kang Hong Pharmaceutical (002773), New Eyes (430140), Angel Medical Holding Ltd., New Century Healthcare, Ever Care, Corning Psychiatric Hospital, Kyee and Alltech. Zhao Gang, co-founder of Highlight Capital, graduated from Peking University Health Science Center and worked as a doctor at Haidian Hospital, and the other co-founder, Yu Tongle, came from Fosun Pharma, a well-known medical company, where Mr. Yu was the head of 2nd Investment Department. Both partners are known in the medical investment community as experts in finding pioneer opportunities with high potentials. Investment projects led by them previously include Dean Diagnostics (300244), Edan (300206), NavInfo (002405), Dirui Industrial (300396), Kyee and Eyeis Ophthalmology, etc.
Highlight Capital manages a USD 200 million fund and a RMB 1 billion fund. Since its establishment in 2014, it has invested in a number of medical assets including Yuwell (002223), Wingtech, Linhwa, Juwa Medical, Malo Clinic, Quyiyuan.com, Dr.Cuiyutao Healthcare Ltd. and Kyee. It is learned that Highlight Capital recently invested in STA Pharma (832159).