NANJING, China, May 15, 2023 /PRNewswire/ -- Recently, ChomiX Biotech Co., Ltd. (hereinafter referred to as ChomiX), a leading biotechnology company focusing on the preclinical development of innovative small molecule drugs, announced the completion of millions of dollars Pre-A+ Financing by TigerYeah Capital,old shareholder Tsinghua Innovation Ventures, and Morning Spring Venture. The proceeds will be used to further develop ChomiX's chemoproteomics platforms, expand covalent compound libraries, and initiate several screening projects against traditionally undruggable targets.
Currently, most drug discovery technologies rely on purified proteins, which greatly limits the efficiency of drug development, resulting in about 90% of disease-related targets being "undruggable". The ChomiX chemoproteomics technologies have revolutionized drug discovery from purified proteins to living cells.
ChomiX will be based on the cutting-edge interdisciplinary field of chemical biology and promote the drug discovery application of chemical proteomics technology with the value of focusing on innovation.
Nan Chen Ph.D., CEO and founder of ChomiX :
We are very honored to collaborate with TigerYeah Capital, Tsinghua Innovation Venture, and Morning Spring Venture in this financing round. ChomiX is a biotechnology company with the leading chemical proteomics technologies. Our co-founder and chief scientist, Prof. Chu Wang at Peking University, pioneered chemical proteomics research in China since 2013.
Through in-depth collaboration with academic research groups, ChomiX has established two technology platforms: DIA-ABPP for high throughput discovery of covalent binders and TED-ChomiX for proteome-wide profiling of drug-binding proteins. Up to now, we have established long-term cooperative relationships with hundreds of research institutes and more than ten biopharmaceutical companies in the field of preclinical small molecule drug R&D. This financing, along with series pre-A announced last year, will significantly strengthen our capacity. Meanwhile, I will sincerely thank all partners and employees of ChomiX for their support and perseverance. By leveraging these cutting-edge chemical proteomics technologies, we could provide more solutions for undruggable targets, which will contribute to the development of more drugs that benefit patients.
About ChomiX:
ChomiX Biotech Co., Ltd. is a leading biotechnology company focusing on the preclinical development of innovative small molecule drugs. With chemoproteomics as the core technology, ChomiX is engaged in the discovery of novel lead compounds and protein targets in living cells. Officially operated in 2021, ChomiX has established multiple intersecting platforms, including chemical biology, bioinformatics, medicinal chemistry, molecular and cell biology, etc. Now ChomiX has been authorized numbers of chemoproteomics related patents and built a laboratory with a variety of advanced instruments. ChomiX has partnered with many innovative small molecule drug R&D companies, including PharmaBlock Sciences (Nanjing), Inc. (SZSE:300725), and hundreds of research institutes. ChomiX is committed to quickly breaking through the barriers of undruggable targets and accelerating the discovery of innovative small molecule drugs.
About TigerYeah Capital:
Founded in 2014, TigerYeah Capital is an independent venture capital under Tigermed. TigerYeah Capital focuses on equity investment in the early and growth stage of the medical and health field. The management team has a profound industrial background, extensive industry resources and rich investment experience. So far, it has completed ~300 million dollars and more than 100 investment projects. The investment portfolio covers medical devices, biomedicine, CRO, and health food. TigerYeah Capital creates value for the development of the medical and health industry in China and even the world by empowering the invested companies, and contributes to public health.
About Tsinghua Innovation Ventures:
Tsinghua Innovation Ventures is a professional investment institution for the industrialization of scientific and technological achievements under Beijing Tsinghua Industrial Development Research Institute (referred to as "ITRI"). Methods and professional management promote the transformation of major scientific and technological achievements of Tsinghua University. Investment cases include Pinchi Medical, a unicorn company in the field of neuromodulation in China, Yihuatong, a leader in China's hydrogen energy industry, Huazhuo Jingke, an integrated circuit ultra-precision equipment manufacturing company, as well as Daqing Biology, Jietong Huasheng, and Langshi Instruments , Tianzhihang, Shenli Technology, Sino United and a group of outstanding enterprises.
About Morning Spring Venture:
Hangzhou Morning Spring Venture is a venture capital institution focusing on early life science investment. The company focuses on life science and medical technology investments that are cutting-edge in the world with unmet clinical needs and high barriers. Morning Spring Venture's management team comes from first-line VC funds, multinational pharmaceutical companies, and CRO companies. The investment team has rich academic background, investment experience, industrial resources, and commercialization experience.
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Twitter：biotechcho14599
Websites：https://www.chomixbio.com/
