Suzhou Kintor Pharmaceuticals, Inc. (Kintor) announced the completion of its Series C round of financing of RMB288 million on January 11, 2018. This round of investment was led by Green Pine Capital Partners, with participation from Shanghai Orient Securities Capital Investment Co. Ltd., Pegasus Capital, CCB International Healthcare Industry Private Equity Fund and Broad Resources, among others. The original investors HighLight Capital and Oriza Holdings also participated in this round of financing. The proceeds will be used to complete Phase I-III clinical trials of Proxalutamide for prostate cancer and breast cancer treatment conducted simultaneously in China and the US and to advance clinical development of four pipeline anti-cancer drugs.
Since inception, Kintor Pharmaceuticals has been committed to the development of multi-channel product portfolio for treating prostate cancer, breast cancer and liver cancer, the three major cancers with high incidence rates globally, with a focus on advanced cancer treatment. Kintor combines gits independently developed and external technologies to provide the best possible therapies for cancer patients. Focusing efforts on developing best-in-class and first-in-class new drugs and building an industrialized platform, Kintor aspires to become a leader in China’s anti-tumor drug industry.
Mr. Luo Fei, Founding Partner of the lead investor Green Pine, said, “Green Pine is pleased to be the lead investor in this financing round. Kintor has a well-established new drug R&D platform. Its main product Proxalutamide has shown promising Phase I clinical data and moved into Phase II clinical trials, with clinical trials being carried out simultaneously in China and in the US. Proxalutamide is one of the few drugs included in the Significant New Drugs Development Program under China’s 12th and 13th Five-Year Plans. Kintor team has over 20 years of experience across drug development, clinical trial design and management and business start-ups in the US. We look forward to Kintor launching new drugs as early as possible to benefit patients and contribute to China’s significant new drugs development.”
Mr. Wang Hui, Managing Partner of HighLight Capital, the lead investor in Kintor’s Series B financing found, said, “I am very pleased to see the solid development of Kintor. As a partner of Kintor since 2015, we will continue to firmly support Kintor, as we are committed to growing together.”
“Kintor has been dedicated to rapidly establishing a solid presence in cancer treatment through innovative drug development and providing more effective and safe therapies to advanced cancer patients in China and the rest of the world.” Dr. Tong Youzhi, President and CEO of Kintor Pharmaceuticals, said, “This round of financing will be a major milestone for Kintor and accelerate the growth of our company toward a biotech player with leading technologies and products. We are especially grateful to our new and original investors for their recognition and support of Kintor team, new drug projects and clinical market development strategy. ”
Overview of investors
About Green Pine Capital Partners (“Green Pine”)
Green Pine was founded in 2007, with its investment team established in 2000. It is one of the experience venture capital firms in China with years of experience across biotech, new materials, new energy, and other sectors. Green Pine not only invests, but also provides its portfolio companies with premium post-investment services, effective resource integration, and PR services. Green Pine currently manages over RMB10 billion through 22 special funds and has invested nearly RMB5 billion in more than 400 portfolio companies, including 48 listed or acquired by listed companies and 18 listed on the New Three Board market. Green Pine is an angel investor of such leading companies as BGI, Royole, KuangChi Science and Appotronics.
About Shanghai Orient Securities Capital Investment Co. Ltd. (“SH Orient Securities Capital”)
Founded in February 2010, SH Orient Securities Capital is a wholly-owned direct investment platform of Orient Securities. A leader in cross-border M&As and equity investment, SH Orient Securities Capital have led and participated in multiple investments in the past three years, including but not limited to SenseTime, Huatu Education, Stellar Cineplex, United Imaging Healthcare, Shanda Games, Applovin, CMGE, Warburg Flavor, and Yaguang Electronics. SH Orient Securities Capital is committed to becoming a professional capital operation platform that is internationally competitive and capable of providing world-class comprehensive financial services. The core management and investment team has extensive investment banking and speculative investment experience in domestic and international markets. In 2017, SH Orient Securities Capital was awarded the Golden Bull Award and recognized by Zero2IPO as the top 10 brokers in direct investment. Prior to that, it successfully made into Zero2IPO’s list of top 50 speculative PE firms in China in 2015. It also received the Shanghai Financial Innovation Award 2015 and the Golden Bull Award for Direct Investment Brokers 2016 for its innovative cross-border investment and M&A business.
About Pegasus Capital
Pegasus Capital is a private equity investment fund manager focused on biomedicine, medical devices, in vitro diagnostics, genetic testing and medical services. Remaining true to its original aspiration, Pegasus Capital is committed to providing strategy and operation, resource integration and other value-added services with professionalism, diligence, dedication and innovation, leveraging the industry experience of a number of industry leaders, including its Founding Partner Dr. Ding Lieming, and local insights and international vision.
About HighLight Capital
HighLight Capital is an investment company focused on the healthcare sector. It manages US dollar and RMB denominated dual-currency funds with total assets of over RMB6 billion. Focusing on biomedicine and medical devices, HighLight Capital has successfully made investments in leading companies, such as Mindray Medical, Yuyue Medical (002223), Linhua Medical (835637), WinnTi Orthopaedics, Pharmaron, WuXi AppTec, Hequan Pharmaceutical (832159), Kintor Pharmaceuticals (839419), Baheal Pharmaceutical, Kyee, Malo Clinic, Zhonghe Pharmaceutical, Chao Ju Ophthalmic , and Kangtuo Medical.
About CCB International Healthcare Industry Private Equity Fund (“CCBI Healthcare Fund”)
Comprising a series of funds, CCBI Healthcare Fund was established by CCB International to make equity investment in the healthcare industry in China. Fund I leverages CCB’s comprehensive financial strengthen and CCB International’s investment and investment banking expertise to drive the growth of its investments, with a number of them having been successfully listed on the A-share or H-share market. As the flagship investment banking platform of CCB, CCB International offers a full range of investment banking products focusing on pre-IPO, IPO and post-IPO services, and provides sponsorship and underwriting, financial advisory, corporate M&As and restructuring, follow-on offerings and refinancing for listed companies, proprietary investment, asset management, securities brokerage, market research and investment advisory services. CCB International has recently launched a number of funds, including CCB CMIG Healthcare (Kunshan) Fund and CCB Tech Startup Equity Investment Fund Integrating Debt and Equity Financing, indicating continued efforts to increase investment in high-quality growth companies in the healthcare sector.
About Shanghai Broad Resources Investment Management Co., Ltd. (“Broad Resources”)
Broad Resources is a value-oriented global asset allocation private equity fund and mainly provides equity investment and financial advisory services. It focuses on domestic and international equity investments and serves global leading companies. Since its establishment in August 2001, Broad Resources has completed a total of 50 financial advisory mandates across domestic and international listings, M&As and comprehensive financial advisory, etc. After 2007, Broad Resources expanded into private equity investment, leveraging its brand and service strengths. Focusing on strategic emerging industries, such as biomedicine and smart manufacturing, Broad Resources helps drive the growth of outstanding companies through cross-border M&As and industry consolidation and creates sub-sector leaders. Broad Resources has made over 80 investments so far, of which 40% have completed asset securitization, and realized steady and sustainable returns for customers.
About Suzhou Oriza Holdings Co., Ltd. (“Oriza Holdings”)
Oriza Holdings is an investment holding company that manages funds of nearly RMB40 billion. It mainly provides equity investment, debt financing and investment and financing services. During 16 years of development, Oriza Holdings has adhered to its mission and vision of “Pioneering the development of equity investment, pursuing fintech innovation, and creating values with sustainable leadership”, and established an integrated business system combining equity investment and debt financing, supported by professional investment and financing services. Oriza Holdings has achieved remarkable results in exploring financial and tech innovation, guiding fund concentration, and boosting industrial upgrading through the collaboration of its three major business segments in capital operation, risk control, and operational deployment, as demonstrated by the first national equity investment fund in China, the only “Thousand Talents Plan” venture capital center in China, and the first “loan + investment options” technology microfinance company in Jiangsu Province.
About Kintor Pharmaceuticals
Kintor Pharmaceuticals’ founding and management team is led by experts of the National Thousand Talents Program of China and international clinical trial experts. Kintor has established a high-quality R&D team and trial platform and focuses on the three major cancers, namely prostate cancer, breast cancer and liver cancer that lack effective treatment method and account for 50% of the cancer population. It has multiple products in the pipeline, covering preclinical-to-Phase II trial stages, for potential treatment of prostate cancer, breast cancer, liver cancer, brain cancer and lung cancer. Since its inception, Kintor has received fundings from the Significant New Drugs Development Program under the Nation’s 12th and 13th Five-year Plan, SME Innovation Fund from the Ministry of Science and Technology, and funds from Jiangsu Science and Technology Support Plan (Social Development) and Suzhou Science and Technology Program. In 2015, Kintor was recognized by Zero2IPO as top 50 most valuable companies for investment in China. In September 2016, it was successfully listed on the NEEQ Board with its securities referred to as Kintor Pharmaceuticals and securities code of 839419. Kintor Pharmaceuticals has been committed to developing drugs through indigenous innovation to benefit advanced cancer patients and lower the costs for patients.