[ACCESSWIRE]
The funding will be used to support the clinical and CFDA registration of the hiHep cell engineering system and further accelerate Hexaell's research and development in liver diseases and cell engineering pipeline
SHANGHAI, CHINA / ACCESSWIRE / January 3, 2019 / Hexaell Biotechnologies Ltd, a Shanghai-based technology company specializing in bio-artificial liver organ based on hiHep cell engineering systems, closed the Series A round of 50 million RMB ($7.3 million) from Hyfinity Investments, a professional venture capital focused on biotech and med-tech based in Beijing on December 24, 2018. The proceeds of the financing will be used to improve the hiHep cell engineering system's preclinical and clinical data for registration of CFDA program of clinical trials and further expand the company's manufacturing infrastructure for clinical trials. In addition, the fund will support the company's significant R&D operation including its pipeline of liver diseases and cell engineering.
About hiHep Technology
Hexaell Biotech licensed the hiHep technology from Shanghai Institute of Biochemistry and Cell Biology, China Academy of Science, one of the prestigious biological research institutes in China. The hiHep technologies is developed to successfully convert human fibroblasts to hepatocytes for artificial liver organs. Hexaell Biotech is committed to further developing and protecting its leading intellectual property portfolio.
About the Current Liver Disease Prevalence in China
China has a large population affected by liver diseases. There are about one million new cases of hepatic failure each year in China. The 28-day mortality is as high as 50% for patients with acute hepatic failure. Currently, the most effective therapeutic regimen is liver transplantation. However, only one out of every 200 patients with hepatic failure is able to receive a liver transplantation per year due to the high cost of the treatment and a shortage of liver sources. Other traditional therapies, including the physical adsorption and plasma exchange, can neither effectively remove the toxins in blood, nor promote the recovery of hepatic functions. The novel hiHep cell engineering technology will fundamentally change the hepatic failure patient's sole dependence on matching donor livers. Hexaell Biotech has concluded a pilot study with 10 liver failure patients in China. Results showed reliable safety and outstanding clinical efficacy with >90% long-term survival rate. This technology has been published in top-tier journals such as Nature and Cell Stem Cell. It was awarded as one of the Top 10 China Science & Technology Progressions and achieved various other high-end biomedical prizes in China.
About the Series A Investment
According to Dr. Pan Guoyu, Chairman of Hexaell, severe hepatic diseases are ignored in China. The incidence and mortality rate of acute liver failure has surpassed China's top 3 cancers (lung cancer, gastrointestinal cancer and liver cancer). Due to a lack of treatment options, patients with acute liver failure witness a rather short-term survival. "Hexaell possesses world leading biomedical technologies focusing on hepatic diseases. It's our great honor to work with Hyfinity Investment whose core team is made up of professional and dedicated healthcare investors," said Dr. Pan. "By forming a strong partnership with Hyfinity, we hope to accelerate the hiHep technologies based product launches in order to bring more treatment options to patients affected by liver failure especially those who have the hepatitis B infections."
"Considering the prevalence of liver disease and the urgent clinical needs in China, Hyfinity team has been covering the diagnosis and treatment space for hepatic disease for two years. We screened close to 80% companies in this space and gradually built an in-depth coverage in this field," said Dr. Xin Sylvia He, Managing Partner of Hyfinity Investments. "It is our great pleasure to collaborate with Hexaell, a company leading with liver cell regeneration technologies and a seasoned management team. Hyfinity is committed to support Hexaell to advance liver disease treatments in China and globally."
About Hexaell Biotech
Hexaell biotech was founded in 2015 and is located in the core area of Jiading Industrial Park of Shanghai. The company possesses international leading cell differentiation and production technology and is focusing on developing novel therapies for severe liver diseases and cellular therapy. Members of the seasoned management team bring complementary experience of R&D, manufacturing, clinical operation and commercialization that will contribute to Hexaell's future growth.
To learn more about Hexaell Biotech, please contact Dr. Wu Hui ([email protected]).
About Hyfinity Investments
Hyfinity Investments is led by senior partners from top-tier investment institutions in China, with years of experiences in healthcare investment, local operation, and overseas licensing. Hyfinity Investments devotes to advance the global innovations in partnerships with high clinical unmet needs and rich clinical resources in China. The mission is to foster industry leaders through converging resources globally.
CONTACT:
To learn more about Hyfinity Investments, please proceed to: http://www.hyfinityfund.com/english.php.
SOURCE: Shanghai Hexaell Biotech Co. Ltd
