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In February 2024, RocRock Biotech, which focuses on macrophage drug therapy for solid tumors, completed a Pre-A round of financing worth tens of millions of RMB. This round of financing was led by Guozhu Capital, a management company under Ronghui Group, with continued investment from Deshi Capital, and Riemann Hypothesis served as the exclusive financial advisor for this round.
This is RocRock Biotech's new round of financing following the angel round at the end of 2022. The funds raised will mainly be used for the IND application of the clinical pipeline RR-M01 and the construction of the RocRock Biotech delivery vehicle production base in Qingdao. RocRock Biotech's leading pipeline, RR-M01, successfully entered the IIT clinical research phase in 2023.RocRock will continue to commit to the research and development and application of CAR-M cell therapy, providing safer and more effective treatment options for patients with solid tumors, improving their quality of life, and extending their survival period.
According to data from the World Health Organization (WHO), in 2021, there were 19.758 million new cases of cancer worldwide, of which hematological malignancies accounted for approximately 1.305 million cases, less than 10%. The remaining 90% are patients with new solid tumors. Based on market data and the Delphi expert judgment method, it is estimated that by 2025, the sales of China's anti-tumor drug market will be in the range of 224.2 billion to 294.5 billion yuan, with solid tumor drugs having a huge economic market volume. RocRock Biotech is a biotechnology company focusing on the research and development and production of macrophage drugs targeting solid tumors, striving to promote the industrial development of macrophage drugs in the field of targeted solid tumors. The company has multiple pipeline layouts, focusing on the field of solid tumor treatment, with indications covering 90% of solid tumors. Among them, the leading pipeline RR-M01 is a third-generation chimeric antigen receptor macrophage (CAR-M) drug independently developed for HER2-positive solid tumors, including HER2-positive ovarian cancer, gastric cancer, breast cancer, cervical cancer, endometrial cancer, lung cancer, and pancreatic cancer, and other recurrent and refractory solid tumors. RocRock Biotech's unique third-generation CAR-M, conceived in 2010, is based on the original CAR and adds cytokines necessary for the auto-proliferation and activation of macrophages, improving the survival and persistence of CAR-M in the body, changing the tumor microenvironment, and further enhancing the phagocytosis, tumor-killing, and antigen presentation capabilities of macrophages. In 2023, RocRock Biotech, in collaboration with the Affiliated Hospital of Xuzhou Medical University, initiated an Investigator Initiated Trial (IIT) of the RR-M01 pipeline. The main purpose of this study is to evaluate the safety and efficacy of CAR-M cell therapy for HER2 highly expressed recurrent and refractory ovarian cancer.
RR-M01 pipeline, with its safety, uniqueness, and maturity, successfully entered the IIT clinical research phase in 2023, becoming the world's first third-generation chimeric antigen receptor macrophage drug to enter the IIT phase. The clinical study plans to enroll three patients, with the first subject being a 65-year-old female who was selected in December 2023, completed apheresis blood collection and CAR-M preparation and quality control in the middle of the month, and completed cell infusion treatment at the end of the month. After the procedure, the subject's vital signs were stable, with a strong sense of comfort and good general condition, and no serious adverse reactions occurred throughout the follow-up observation period, showing the good safety of the cell drug. At the same time, the subject's clinical symptoms gradually eased compared to before treatment, and tumor markers and other indicators were effectively controlled. The patient will continue regular follow-ups according to the clinical protocol after discharge. The conduct of this clinical trial brings new hope for the treatment of malignant solid tumors, especially recurrent and refractory ovarian cancer.
Dr. Yin Xiushan, Chairman of RocRock Biotech, said: I sincerely thank Guozhu Capital for their recognition and trust in RocRock Biotech, and also thank the old shareholder Deshi Capital for their long-term trust and support. This financing will help the company's key project pipeline to advance clinically, and we will invest more energy and resources to accelerate the research and clinical application of CAR-M cell therapy technology. Since its inception, RocRock has always adhered to its original intention, shouldering the responsibility as a leading enterprise in the field of solid tumor treatment, continuously increasing scientific research investment, concentrating the world's top scientific research strength to provide solid tumor treatment plans at the fastest speed, and bringing safer and more effective treatment options for cancer patients in China and around the world. Currently, RocRock Biotech's independently developed third-generation chimeric antigen receptor macrophage (CAR-M) drug RR-M01 injection has achieved 100% domestication of process technology, meeting the national strategic requirements for biopharmaceutical enterprises. RocRock Biotech completed the GMP production workshop in April 2023 and successfully completed the first subject's medication for the IIT project in just six months, marking RocRock Biotech's official entry into the clinical research phase.
Dong Xijie, General Manager of Qingdao Guozhu Capital, said: As the leading investor in this round, we are very optimistic about RocRock Biotech's innovative R&D capabilities and development prospects in the field of cell biology. Cell therapy, as an innovative technology in the medical field, can more accurately target the patient's pathological characteristics for personalized treatment, improving treatment effects compared to traditional surgery and radiochemotherapy for solid tumors. At the same time, it reduces damage to normal cells during treatment, reduces side effects and adverse reactions, and further improves the quality of life for patients. RocRock Biotech has shown great potential in the field of CAR-M treatment for solid tumors. The team's more than twenty years of experience in macrophage research has achieved breakthroughs in four major independent R&D platform technologies, making RocRock likely to overtake the global solid tumor track in a straight line and is a trustworthy and investable innovative enterprise. Qingdao Guozhu Capital looks forward to long-term cooperation with RocRock Biotech to jointly promote the progress of cell medical science.
As the exclusive financial advisor for this round of financing, Dr. Li Chaoxing, Chairman of Riemann Hypothesis, said: We have long been concerned about and systematically analyzed the prospects of CGT in clinical applications. The CAR-M cell drug development and application focused by RocRock Biotech is supported by mature CAR technology and also has the natural advantages of macrophage immune phagocytosis and distribution evolution, with more precise and thorough clearance capabilities for solid tumors in different tissues. RocRock's core team has long been committed to basic research in the direction of cell immunity and has a deep accumulation in the development and differentiation of macrophages, which lays a more solid foundation for the future development of CAR-M cell drug series varieties with better tissue specificity and universality. This is also the reason why Riemann Hypothesis invests in incubation and serves as the exclusive financial advisor for RocRock Biotech, and Riemann Hypothesis looks forward to continuing close cooperation with RocRock Biotech to jointly promote the benefits of CAR-M cell therapy for more patients.
About Qingdao Guozhu Capital Management Co., Ltd.
Qingdao Guozhu Capital Management Co., Ltd. (Guozhu Capital) was established in December 2019, carrying out equity investment, asset management, and industrial financial services in a state-guided and market-oriented manner. The company is deeply involved in the two directions of scientific and technological innovation and medical innovation. While relying on the mother fund group to expand and optimize industrial investment, it actively expands the cooperation circle of friends, introduces high-quality cooperative partner resources to the Shibei District, and promotes win-win development. The company has not only become an important partner of top private equity in the northern state-owned enterprises such as Shenzhen Venture Investment, CDH, and SAIF, but also has established in-depth cooperation with many leading industrial groups such as CMI Industrial Research Capital, SAIC Group, CITIC Healthcare, BGI, and Far East Group, launching multiple industrial investment funds. The company closely focuses on the strategic planning of Qingdao's Shibei District, focuses on the "two belts and three areas" development layout and the "2+6" characteristic industrial system, and truly empowers industrial upgrading and industrial investment attraction with capital, providing strong financial and investment support for the construction of a prosperous, beautiful, and happy modern international city.
0512-67998889(Suzhou)
18051093220(Shenzhen)
Cathy.Lv@rocrockbio.com(Suzhou)
lliangjing@rocrockbio.com (Shenzhen)