Genuine Biotech Raises $100 Million in Series B Financing, Accelerating Commercialization of World's First Dual-Target Anti-HIV Drug

On Aug. 26, Genuine Biotech Co., Ltd. announced the completion of $100 million Series B financing. This series of strategic financing was led by Efung Capital and Yingke PE, and followed by Desano, ABC Capital, and Fortune Financial Capital. The fund will be used for product R&D, clinical trial registration and commercial scale-up of Azvudine, the world's first approved dual-target Class 1 anti-HIV drug.

The $100 million financing will not only fully empower the development of Genuine Biotech, but also accelerate the development process of various innovative drugs of Genuine Biotech. The commercialization of the key product, Azvudine, will also be accelerated, which will benefit HIV patients around the world.

$100 Million Financing Completed, Fully Empowering Genuine Biotech

Genuine Biotech, founded in 2012, is an innovative drug R&D company integrating independent R&D, manufacturing and sales. It is committed to developing innovative drugs for antiviral and antitumor purposes, as well as for cardiovascular, cerebrovascular and liver diseases.

The approval for Genuine Biotech's independently developed Azvudine for the treatment of HIV is a new and significant step toward the domestication of HIV medications in China. Completion of Series B financing will facilitate the production and marketing of Azvudine for the treatment of HIV as well as the extension for other indications.

The company's management team and R&D team are of the highest caliber, and the core team members all have experience working in prestigious overseas R&D institutions and a track record of successful new drug development.

The company has an extensive product pipeline in the field of drug discovery and development. In the field of antiviral therapeutics, the company owns a national Class 1 new drug Azvudine; in the field of anti-tumor therapeutics, dosimertinib, a Class 1 new drug for the treatment of non-small cell lung cancer, has entered the clinical stage. In addition, a number of new Class 1 drugs with high market potentials in areas such as cardiovascular and cerebrovascular therapeutics and long-acting HIV therapeutics are currently undergoing preclinical research.

In recent years, Genuine Biotech has grown rapidly. It has successively established R&D centers in Shenzhen and Shanghai, set up medical, clinical, registration and commercialization teams in Beijing, and built a GMP-compliant manufacturing facility in Pingdingshan, forming a comprehensive biopharmaceutical industry chain.

"The successful conclusion of this series of strategic financing is a new beginning for the company's development, and will greatly fuel the development of Genuine Biotech, facilitate the company's ongoing clinical trials of multiple new drugs, and accelerate the commercialization of Azvudine," said Wang Zhaoyang, founder of Genuine Biotech. “In the future, the company will further improve its R&D efficiency around its existing product pipelines, accelerate product commercialization, and further strengthen its competitive advantage in the field of bio-innovative drugs."

Zhu Jinqiao, Chairman of Efung Capital, said, "Genuine Biotech has a world-class R&D team for innovative drugs, and its core R&D personnel have profound scientific expertise in the pharmaceutical industry and years of experience in drug discovery and development. The marketing approval of Azvudine is an evidence of Genuine Biotech's strong R&D and delivery capabilities. We anticipate that the company will become a leader in the development of innovative pharmaceuticals both in China and globally in the future. Efung Capital is optimistic about Genuine Biotech's R&D strategy over the long term and will firmly support its innovation and development."

Genuine Biotech Soon to Launch IPO With the World's First Dual-Target Anti-Cancer Drug in Hand

The research advantages of Genuine Biotech in the antivirals field are already evident. The company is a global leader for the research of its unique fully oral, long-acting antiviral drugs.

In Jul. 2021, Azvudine, a new Class 1 anti-HIV drug independently developed by Genuine Biotech, was approved for marketing. As reported, Azvudine is a novel inhibitor of nucleoside reverse transcriptase and accessory protein Vif and the first dual-target anti-HIV innovative drug in the world. It has received funding from the National Science and Technology Major Projects for "Major New Drug Innovation".

The marketing of Azvudine provides HIV patients with a new and superior treatment option. According to the clinical study results, Azvudine has the advantages of low dose, multi-target and long-acting results after oral administration, and does not develop cross-resistance with drugs currently on the market, such as lamivudine. It is therefore able to address the problem of drug resistance in some patients.

According to Genuine Biotech, Azvudine has broad-spectrum antiviral and anti-cancer effects, with significant effects against SARS-CoV-2 virus, hepatitis B virus, acute leukemia, lymphoma, multiple myeloma, etc., in addition to HIV.

In Oct. 2020, a Nature series journal published an update on the treatment of COVID-19 with Azvudine. Preliminary clinical study results showed significant efficacy of Azvudine in the treatment of COVID-19. The drug can significantly shorten the negative conversion time, treatment time, and length of hospitalization. Phase III clinical trials of Azvudine for the treatment of COVID-19 are currently being accelerated in China, Brazil, and Russia.

According to Dr. Du Jinfa, CEO and Chief Scientific Officer of Genuine Biotech, "In recent years, the atmosphere and environment for innovative drug development in China is improving, and Chinese innovative drug companies are flourishing. Genuine Biotech has caught up with the best era for innovative drug development in China. After the completion of the Series B financing, we will initiate the IPO process in Hong Kong as well."