Qiming Monthly Newsletter March 2024

What's New at Qiming

Qiming Awards

Qiming's investment in LaNova Medicine was awarded one of the "Top 10 Equity Investment Cases" by Pudong New Area's Private Equity Investment Fund, which was announced at the High-Quality Development Conference of the Equity Investment Industry held in Shanghai's Pudong New Area. LaNova is a biopharmaceutical company established by industry veterans in 2019 with a focus on meeting unmet medical needs in the fields of cancer immunology and the tumor microenvironment. Their innovative research and development is based on their self-developed GPCR as well as multiple transmembrane protein target antibody discovery platform, aiming to be a leader in their class and offer potential for optimum development.

Celebrating International Women's Day, our Managing Partner Nisa Leung, Partner Janet Yu, and female executives from our portfolio companies have received numerous accolades, including:

????????? Mangaing Partner Nisa Leung was included in the S50 Special Feature for Women's Day 2024 by PEDaily; and awarded Best Female Equity Investors by FOF Research Center, Top 38 Best Female Investors by Investor.com, and the Most Influential Female Investors of 2024 by CYZone.

????????? Our Partner Janet Yu was honored Best Female IR by FOF Research Center.

????????? Co-founder and CSO Chen Yiling of Qiniu Cloud, Co-founder and CSO Dong Yiming of Antanteres, Founder and Chairman Li Lin of Haosi Bio, Joint-founder and vice president Sun Shuli of Yuanbao, Joint-founder and CSO Wang Shiyu of Saintgene Bio, Co-founder and CEO Jane Zheng of Belief Biomed, have been recognized as the most noteworthy female entrepreneurs of 2024 by CYzone.

????????? Co-founder and general manager of TigerMed Cao Xiaochun, founder, chairman, and CEO of Zai Lab Samantha Du, and the deputy chairman and COO of Bilibili Li Ni, have been included in Forbes China's Top 100 Outstanding Business Women.

Qiming has won 5 awards in the Invest in China - 2023 Annual China Investment Institution Series Awards by The First New Voice, including:

TOP 7 Best Start-up Investment Institution TOP 5 Most Active Start-up Investment Institution TOP 5 Start-up Investment Institution IPO list TOP 10 Digital Economy Sector Investment Institution TOP 1 Healthcare Sector Investment Institution

Our Principal Oscar Zhang has made Qimingpian 'Top 40 Outstanding U40 Young Investors for 2023', a list aims at encouraging young investment professionals possessing keen insights and strong expertise.

Portfolio Highlights

ESG

In a bid to encourage people with Parkinson's to actively fight against the disease, regain confidence, understand Parkinson's accurately, alleviate stress and depression, an offline exchange event organized by Sceneray was held in the beautifully scenic Yunqi Wood House in Lishui, Zhejiang on March 12th. Parkinson's disease is a progressively developing condition with typical symptoms including slow movement, tremors, muscle rigidity, balance issues, and speech problems. Embracing the lakeside views and serene surroundings, people gathered not just to share our challenges, but also to strengthen resolve and learn from each other's journey.

Financing

Qiming participated in Yanyin Tech's angel round financing of RMB tens of millions. The funds will primarily be used to upgrade and promote Yanyin's digital biomedical research collaboration platform and conduct R&D for AI models in biomedicine.

Founded in October 2023, Yanyin aims to provide a new generation digital platform to make biomedical research more efficient. The company brings together top executives from Fortune 500 companies and PhDs from Harvard Medical School with a shared vision of connecting the cloud of biomedical research to build the largest scientific community in China.

Quoting Kan Chen, partner of Qiming Venture Partners, "We are excited about the potential of Yanyin Tech. By leveraging advanced digitization techniques and large medical models, they have dramatically improved the efficiency of R&D experiments in biomedicine. We look forward to the team significantly enhancing the cost-effectiveness of R&D for pharmaceutical enterprises and genuinely boosting industry efficiency."

Technology&Consumer

Hesai Technology secured partnerships with industry giants including Great Wall Motor, Li Auto, and Leapmotor recently. The rapid adoption of Hesai's cutting-edge lidar technology underscores the growing demand for high-performance, reliable lidar solutions to support ADAS production programs.

UBTECH Robotics and Kingsware have entered into strategic agreements with the Hong Kong Special Administrative Region Government. This partnership, facilitated by the Office for Attracting Strategic Enterprises (OASES), encourages a wave of strategic enterprises to expand their business in the Hong Kong SAR.

WeRide was invited to operate a pilot self-driving shuttle service in Beijing, which is Beijing's first L4 level self-driving shuttle service connecting city landmarks and the neighboring metro station. WeRide, in partnership with Bosch's China Smart Driving and Control Systems division, achieved successful mass production of Bosch's first high-level smart driving project globally. Furthermore, WeRide has reached strategic partnership with Lenovo to accelerate autonomous driving technologies for commercial applications.

DeepWay became China's first mass-produced vehicle manufacturer to obtain a license for cross-provincial autonomous heavy-duty truck testing and demonstration applications. DeepWay's intelligent new energy heavy-duty trucks will provide autonomous highway freight services on the Beijing and Tianjin sections of the Jingjintang Expressway, a pilot project for Highway Freight Autonomous Driving Application.

SequoiaDB database has successfully passed the mandatory national standard GB 18030-2022 - 'Information Technology Chinese Encoding Character Set' adaptation test. This achievement, meeting the highest implementation level (Level 3) certification, substantially contributes to the information construction of national language and script.

Nuowei Tech, along with nearly 20 institutions, contributed to a new international standard - Technical Requirements for Privacy Computing Appliance (IEEE 3156-2023) published by the industry-leading IEEE Standards Association (IEEE-SA).

HyperStrong and Schneider Electric deepened their partnership - Schneider Electric will leverage its strengths in power grids, energy management, talent, technology, and services and work closely with HyperStrong to expand more markets.

Mech-Mind Robotics' Tokyo LAB recently celebrated its grand opening ceremony, welcoming nearly a hundred esteemed guests from the Japanese robotics industry on site. In just two years since its establishment, Mech-Mind Japan has already formed a comprehensive and robust local support network.

Healthcare

Insilico Medicine published a new paper in Nature Biotechnology which traces the entire journey of their lead AI-discovered and AI-designed drug for the progressive and often fatal lung disease idiopathic pulmonary fibrosis – the first drug of its kind to reach Phase II trials with patients.

A paper titled "Real-world implementation of a multilevel intervention program to prevent mother-to-child transmission of HBV in China" was published as a cover article in Nature Medicine. The paper conducted an interim analysis of the SHIELD program, with the HBMTCT prevention auxiliary management software developed by Vongi Health playing a key role in the implementation of the project.

Jacobio's independently developed P53 Y220C activator, JAB-30300, has been approved for an Investigational New Drug (IND) application in the United States. JAB-30300 is an orally administered small molecule activator used in treating patients with locally advanced or metastatic solid tumors carrying the P53 Y220C mutation.

ArkBio has teamed up with digital therapy pioneer, SDODT, to announce a comprehensive market and commercialization cooperation in the treatment of Attention Deficit Hyperactivity Disorder (ADHD).

CanBridge Pharmaceuticals announced an official partnership with Peking Union Medical College Hospital for the establishment of the 'PUMCH-Canbridge Innovative Base for Genetic Defects and Rare Diseases. The collaboration looks towards trailblazing research from drug discovery to clinical transition.

Shukun Technology has successfully exhibited at the European Congress of Radiology (ECR), one of the most influential global academic scientific conferences in the field of radiology. Shukun brought over 40 products and innovative solutions, covering key areas such as the heart, brain, chest, abdomen, and muscles, including modalities like CT, MR, DR, DSA, US.

Zai Lab's partner Bristol Myers Squibb (BMS) shared that its KRYSTAL-12 study evaluating KRAZATI(?) adagrasib in patients with KRAS G12C mutated non-small cell lung cancer, has met its primary endpoint of Progression-Free Survival (PFS). Zai Lab's partner Novocure also announced the successful achievement of the primary endpoint in the Phase 3 clinical research of Tumor Treating Fields (TTFields) on brain metastases from non-small cell lung cancer in their METIS study, which Zai Lab participated in and enrolled the first patient in Greater China in 2021.

Zai Lab and Medilink Therapeutics are delving deeper into their partnership with their joint development project, ZL-1310 (DLL3 ADC), a prospective solution for Small Cell Lung Cancer (SCLC), being one of the focus projects in Zai Lab's worldwide clinical development pipeline this year.

Medilink Therapeutics submitted a clinical trial application in China for its independently developed third ADC drug YL205. Originating from its ADC platform TMALIN, YL205 is an enzyme-cleavable 4-peptide topoisomerase inhibitor with site-specific conjugation DAR 8.

DKMedical has successfully obtained 510(k) Clearance (K232207) from the US FDA for its independently researched and developed product - the DKutting? High-Pressure Incision Balloon.

DPtechnology's latest research has been featured on the front page of ACS JACS Au, showcasing their innovative technology, Node-Aligned Graph-to-Graph (NAG2G), which can design synthetic routes for complex organic molecules.

China's first domestically developed MEK inhibitor, tunlametinib, developed by KeChow Pharma, has received China's NMPA approval for marketing. It is a major breakthrough for patients with late-stage melanoma with NRAS mutation who have failed PD-1/PD-L1 treatment.

Sino Biological announced a new services partnership with Canada-based Rapid Novor. Under this agreement, Sino Biological will market Rapid Novor's proprietary de novoREmAb monoclonal antibody (mAb) sequencing service together with its custom mAb development and production services.

CanSino Biologics has entered a strategic partnership with AsymBio, bringing about synergy in areas of plasmids, mRNA, and LNP class of biological drug macromolecules. On clinical front, CanSino has officially launched Phase III clinical trials for Adsorbed Tetanus Vaccine with the first participant enrolled. It's primarily designed to prevent non-neonatal tetanus. It also began their Phase III clinical trials in Indonesia for their quadrivalent meningococcal conjugate vaccine, successfully enrolling the first participant.

InferVision's surgical planning products for liver and kidney surgery have received approval as Class III medical devices from China's NMPA. It is the first and only one of its kind in liver and kidney procedures to receive this approval. The product can automatically achieve 3D reconstruction of essential abdominal organs and blood vessels in a short time.

Genor Biopharma announced that China's NMPA officially accepted the new drug application for GB491 (Lerociclib) combined with Letrozole for the treatment of HRpositive, HER2-negative patients with advanced breast cancer who have not previously undergone systemic antitumor therapy.

Venus Medtech's Transcatheter Pulmonary Valve Replacement (TPVR) system, VenusP-Valve, has successfully held its kick-off meeting at the University of Virginia School of Medicine (UVA) for the PROTEUS IDE clinical study. This marks the official commencement of the crucial clinical trial enrollment in the United States.

Insight Lifetech's TRUEVISION? Intravascular Ultrasound Catheter secures the EU MDR Class III Medical Device Registration, becoming the first domestically produced, self-developed IVUS catheter approved under EU MDR in China.

APT Medical has successfully obtained the CE Certificate (MDR) for their SealingPro? Y connector. The product has met the performance and safety standards set by the EU, which validates that the SealingPro? Y connector is safe to use, functionally reliable, and ready to be marketed within the EU market.

SceneRay has released a dual target STN+| Aaxon 8-Contact Rechargeable Deep Brain Stimulation System. The introduction of this innovative product paves the way for new treatment paths for Parkinson’s patients, especially those suffering from Freezing of Gait (FOG) and Postural Instability Gait Disorder (PIGD), offering more stimulation combinations and broader treatment potential.

Awards

Insilico Medicine has clinched the No. 1 spot on Fast Company's List of Most Innovative Companies in Biotech category. And Insta360 was ranked No.3 in the Consumer Electronics category.

Meituan made it onto Fortune Future 30 in Asia list 2024, which features dynamic Asian businesses with high-growth potential, assessed through a vitality index quantifying their long-term growth potential.

Forbes China released its list of emerging unicorns with companies including Rox Motors have made the cut. Forbes China has tracked over 1,300 start-ups in the past year that have procured a single round of financing exceeding 200 million RMB/30 million USD and have shown the potential to enter the unicorn league.

UBTECH Robotics' UGOBOT, the company's latest generation AI educational robot, has received recognition at the 'iF DESIGN AWARD 2024' in Germany. Selected from an impressive 10,807 products submitted globally, UGOBOT was awarded the Gold Award—The highest accolade at the Awards.

Sino Biological has been recognized as the 'Growth Factor Supplier to Watch in 2024' by CiteAb! This honor is based on CiteAb's protein citation database, showcasing the company with the largest percentage increase in growth factor product citations in the past year.

Three Qiming portfolio companies have won awards in the World Future Industries Competition 2023. Taking pride in receiving the Future Industries Supernova Award is DPTechnology, with their groundbreaking project in inherent disordered protein drug design; and Joes Future Food and Aohua Endoscopy securing the Future Industries Award.

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