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Biotheus commenced R&D operations Aug 13 at a new 4,200-sq-m (1-acre) center in Tangjiawan seeking effective therapeutic biologics for patients with cancer and metabolic diseases.
The bio-tech startup, founded in 2018, is headquartered in CEC High-Tech Industrial Park of the Zhuhai National Hi-Tech Industrial Development Zone in Tangjiawan. Biotheus develops innovative antibody drugs in concert with laboratories in Hong Kong and Suzhou. It seeks to lead China's biomedical sector in the Guangdong-Hong Kong-Macao Greater Bay Area, according to CEO Liu Xiaolin.
Although the company is new, Biotheus teams have an average of 15 years' experience in research, development, and industrialization of high-end biologic drugs. They have engaged in the R&D of over 40 new drugs, and the company's products have generated more than $20 billion in sales.
Drug test [File photo]
Biotheus completed Pre-A round financing of more than 100 million yuan ($14 million) in June, its second round of financing after a 180-million-yuan ($25.7-million) investment by Zhuhai Huajin Capital, Zhuhai Hi-Tech VC, and Jiangsu-based Highlight Capital.
Currently, it is focusing on independent R&D of new-generation bi-specific antibody drugs and a dozen national first-class new biologic drugs to treat malignant tumors and metabolic diseases. Its annual operating revenue is expected to exceed 3 billion yuan ($427.6 million) by 2023.
Prometheus Bio-technology will develop innovative biomedical projects valued at 800 million yuan ($125 million) in Zhuhai with revenue expected to exceed 3 billion yuan ($469 million) once production begins.