At the beginning of the Chinese New Year, Sciwind completed Series A financing of approximately 200 million RMB (29.5 million US dollars) led by Legend Capital and followed by pre-A investor Shiyu Capital and Kawin Technology.
"We are committed to developing safe and effective novel protein and peptide therapeutics for the treatment of critical metabolic diseases, especially non-alcoholic steatohepatitis (NASH) which is closely associated with type 2 diabetes and obesity. In 2019, Sciwind will have 2 IND submissions, all with international intellectual property rights.” said by Dr. Hai Pan, Chairman and CEO of the company, “This financing will provide strong financial support for the company's development strategy. I am grateful to our investors for their trust and continuous support."
Sciwind is dedicated to the new drug development in NASH and other metabolic diseases
In China, there are 20 million patients with NASH, 30% of them may progress to cirrhosis or liver cancer with huge unmet medical need. Meanwhile, obesity and type 2 diabetes, which may induce NASH, are spreading globally. Moreover, hepatologists have observed the phenomenon of younger patients with NASH, which further highlights the unmet medical needs for the treatment of NASH.
Dr. Hai Pan said, “There is a huge market opportunity for the treatment of NASH. Unlike other pharmaceutical companies currently engaged in the research and development of small molecule drugs, Sciwind focuses on biopharmaceuticals targeting metabolism, inflammation and fibrosis pathways for the development of novel combination therapy."
An excellent team of global pharmaceutical professionals with previous experience in global biopharmaceutical companies including Amgen and Novo Nordisk
Sciwind has an experienced and highly skilled management team. The company's executives came from top global biopharmaceutical companies such as Amgen Inc., Novo Nordisk and Pfizer. With extensive experience in pharmaceutical industry, the R&D team is fully equipped with the technical strength to develop biological new drugs. Sciwind is adhering to the culture of "Science Driven, Research Based and Team Spirit". Sciwind is aiming to become an international company for the development of innovative drugs, serving both the world market and Chinese patients.
Dr. Hai Pan, Chairman and CEO of the company, has been engaged in the research and development of new drugs in the field of liver diseases for a long period of time. He has extensive experience in research and development of new drugs, especially recombinant protein, peptide and small molecule drugs. Dr. Pan has a very successful track record in his R&D career, launching several novel drugs within 6 years when he served as R&D head in Kawin Technology.
Chairman and CEO of Sciwind Biosciences Dr. Pan Hai
Since its establishment in late 2017, Sciwind has so far laid out high-quality, diversified R&D pipelines, and adopted the research strategy of combined therapy to actively explore the best treatment for NASH.
Sciwind is fully supported by professional investors, Legend Capital and Shiyu Capital, to advance the research and development of novel NASH treatment
As managing executive of Legend Capital, the leading investor in this series of financing, when talking about Sciwind, Mr. Junfeng Wang said: "China's biopharmaceutical industry is in a golden age of rapid growth, and NASH presents huge unmet clinical need with equally huge opportunity. Before deciding to invest, Legend Capital has made a comprehensive and in-depth due diligence on Sciwind’s pipeline, development capabilities, intellectual property, etc. Sciwind has great potential for the development of novel and effective treatments for NASH. We are very confident with Sciwind’s future."
Shiyu Capital has invested Sciwind both in Pre-A and Series A. Mr. Hongbing Yang, founding partner of Shiyu Capital, recently spoke about Sciwind: “This is a company that we have been very positive about. They focus on innovative medicine development, the team has very strong research and development capabilities, extensive clinical research experience of novel drugs, good cooperation spirit and extraordinary implementation skills. We are very optimistic about the future of Sciwind."