Recently, Hangzhou Yirui Pharmaceutical Technology Co., Ltd. (hereinafter referred to as “Yirui Pharma”) announced the completion of a Series A+ financing round worth tens of millions of yuan, led by Tai Kun Fund, with follow-on investments from Beijing Tianfeng Capital, Hangzhou Shenghui Investment, and other funds. The raised funds will be used to accelerate the Phase II clinical trials of the innovative drug YR-001 for the treatment of autoimmune skin diseases in the United States, as well as for the preclinical and early clinical development of other projects within the company.

Founded in 2018, Yirui Pharma is a Biotech company focused on the research and development of small molecule innovative targeted drugs. It is committed to source innovation through scientific project selection, low-cost, high-efficiency, and effective risk control strategies. The company is self-research oriented, with indications covering autoimmune diseases, diabetic complications, chronic inflammatory diseases, and other fields. It has adopted a differentiated layout in drug targets, indications, administration methods, and treatment populations, striving to provide new first-line drugs for the unmet clinical needs of hundreds of millions of patients worldwide.

Due to the overall downturn in the global economy, the investment enthusiasm in the biopharmaceutical sector plummeted sharply after the second half of 2022, with many investment institutions completely withdrawing from the biopharmaceutical track. The entire new drug development field is in a “rapid freeze” period for financing. The success of this Series A+ financing round once again proves the market’s recognition and trust in Yirui Pharma’s R&D team and capabilities. This round of investment provides strong support for Yirui Pharma’s R&D and clinical trials.

Regarding the successful financing, Dr. Wang Xiaolu, founder of Yirui Pharma, stated: “We are very grateful to Tai Kun Fund, Beijing Tianfeng Capital, and other institutions for their trust and support in Yirui Pharma’s innovative R&D capabilities, clinical development capabilities, and future commercialization potential. This financing provides crucial support for the clinical development of our potential First-in-class innovative drugs and the advancement of new pipelines. Yirui Pharma is in a phase of rapid development, with multiple research projects at the international forefront. The selected targets have been reliably validated, and they are either exclusive or first in China, with only a few companies globally developing them concurrently. We will continue to dedicate ourselves to providing better treatment options for global patients, benefiting patients worldwide.”

Guan Jifeng, founding partner of Tianfeng Capital, commented: “Yirui Pharma’s R&D team is composed of overseas returnees and seasoned scientists with extensive experience in innovative drug development. Over a decade ago, during her time working overseas, Dr. Wang Xiaolu facilitated the transfer of the Chinese rights of a potential blockbuster drug developed abroad to a domestic pharmaceutical company. This drug was recently approved by the Chinese FDA for its first global launch, breaking the decade-long stagnation in innovative drug approvals in this field in China and providing strong support and a successful case for the transformation and upgrading of China’s pharmaceutical industry. In the process of founding Yirui, the team has a deep understanding of the global and Chinese pharmaceutical industry’s innovative drug development strategies, industry chain structure, and market competition landscape. They are adept at designing top-level strategies for innovative drug companies, leveraging China’s globally competitive new drug R&D industry chain to develop globally leading original innovative drugs at lower costs and higher efficiency. We believe that with the financial and strategic support from investment institutions, Yirui Pharma can accelerate and enhance its innovative drug R&D process, collaborating with the global and Chinese pharmaceutical industries to jointly promote innovation and development in the global medical field.”