Doma Raises RMB 950 Million Series A Financing to Incubate Innovative Life Sciences Companies


  On June 1, 2022, Doma Pharmaceutical Technology (Suzhou) Co., Ltd. (hereinafter referred to as "Doma") announced the closing of a Series A financing round of RMB 950 million. The investors included Biocytogen, China Life Private Equity Investment, PICC Capital, SDIC Venture Capital, Suzhou Industrial Park, Taiping Healthcare Fund, and CMB International. As the founding shareholders of Doma Pharmaceutical, the investors aspired to build the company into a China-based integrated incubator for sustained life sciences innovations by pooling cutting-edge technologies, outstanding talents, and long-term capital inputs.


  Doma was established in Suzhou BioBAY in September 2021 with a vision to develop innovative drugs and disruptive biotechnologies. The company has successfully incubated dynamic biotech companies with novel proprietary drug pipelines/biotechnologies, while giving birth to an industry cluster for innovative life sciences. That has been made possible by the company's optimal integration of talents, technologies/products and capital on the shareholders' robust open R&D service platform. As a fully integrated incubator for life science innovations, the company will empower incubatees with diverse and comprehensive services. As both a co-founder and an angel investor, the company provides the incubatees with not only complete R&D services backed by its robust R&D platform, but also operation and management assistance as needed, thereby accelerating their business growth while maximizing their capital utilization.


  "We are grateful to our founding shareholders for their contributions to the Series A financing, which has set the company in motion," said Dr. Huang Rui, Director and Chief Operating Officer of Doma. "The past decade has seen rapid progress in life sciences research in China and an increasing number of qualified and experienced high-caliber talents in the industry. That has given us the confidence to integrate science, industry, talent, and capital resources to build the company into a fully integrated incubation platform for life science innovations in China. On this platform, we will create a series of innovative and vibrant biotech companies that seek to address real clinical needs, identify market value, improve public health, and realize sustainable development by taking groundbreaking approaches. Going forward, Doma aims to incubate world-class companies based in China. That entails joint efforts with technology innovators, top talents, investors, and industrial partners to develop innovative target drugs, dual anti-ADC drugs, oncolytic viruses, cell therapies, pet drugs, diagnostic reagents, and AI products."


  "We are honored to be a part in the co-investment for the establishment of Doma," said Dr. Shen Yuelei, Chairman of Biocytogen, one of the founding shareholders. "Biocytogen boasts world-leading technology platforms for gene editing, antibody drug discovery and screening, innovative animal model development, and clinical drug development, as well as the ability to develop new drugs throughout the process from early target validation to preclinical research and clinical development of pharmaceutical molecules. Besides, Biocytogen's Project Integrum program and unique drug development platform will bolster Doma's R&D capabilities, helping the company incubate more innovative and dynamic biotech companies. We look forward to working with Doma to build an innovation and R&D ecosystem that will benefit both companies and contribute to the expansion of China's biotech industry."


  "It is a trend inevitable for China to become a pharmaceutical powerhouse through rapid construction of a biopharma innovation incubator and a biopharma industry cluster with global influence, while platform companies have emerged as one of the key drivers to enhance the industrial capacity," said Jiang Li, Managing Director of China Life Private Equity Investment. "Doma is incubating new antibody drug companies with premier biopharma talents at home and abroad working on Biocytogen's antibody drug development service platform and the unique Project Integrum platform. A bright future can be anticipated from its distinctive operating model that combines industrial incubation and drug pipeline development. We hope that our collaboration with Biocytogen and Doma will result in greater concentration and flow of advanced technologies, high-end talents, abundant capital, and other innovation factors, faster commercialization of scientific and technological findings, incubation of more new biotech companies, and globalization of local businesses. These outcomes will ultimately accelerate China's bioeconomy growth and secure strategic advantages, while providing humanity with more innovative and effective pharmaceuticals."


  "Life sciences is a subject that keeps exploring new ways to prolong life and cure illness, carrying the hopes and expectations of all mankind," said Shu Wanting, Managing Director of PICC Capital. "To embark on a novel industrial growth path, China must be an innovator rather than a follower, while being more patient and persistent along the way. We are very pleased to be one of the founding shareholders of Doma, standing ready to contribute to the company's biotech industry cluster incubation by combining our extensive industry experience, top-tier talents, and long-term capital inputs with those of other shareholders. We hope that Doma will soon roll out a series of new products that will make a big difference in treating diseases and extending people's lives.


  "Doma is an open platform company engaged in cutting-edge biotech R&D, incubation, and collaborative innovation," said Lu Shanshan, Vice GM of Taiping Innovation Investment. "According to Flagship Pioneering, a world-renowned biotech incubator, a biotech platform should be versatile within the same sector and able to quickly adapt successful R&D cases to succeeding R&D processes within the same sector. The more versatile a biotech platform is, the more functional and valuable it becomes. With its unique industry incubation system and Biocytogen's Project Integrum resources, Doma has the potential to become an excellent biotech platform. We expect the company to become 'China's Flagship Pioneering'."