October 8, 2020，3D Medicines, Inc., a clinical stage biopharmaceutical company focusing on the development and commercialization of differentiated immuno-oncology drugs, announced the completion of the first-round of financing after the spin-off, the total size of the round of financing of 140 million U.S. dollars, or about 970 million yuan. The round of financing was led by Efung Capital and China Capital Management, with Adrian Cheng, a famous entrepreneur and investor, as well as Ruiyi Investment, Tigermed, Shanghai Ruixia, Header Capital and other well-known investment institutions following, and other early shareholders also continued to invest.

3D Medicines is a leading precision oncology medical company in China. Due to the needs of business development, it was split into two independent companies, 3D Diagnostics and 3D Medicines Inc., which are planned to be listed at home and abroad. At present, 3D Medicines is a clinical-stage biopharmaceutical company. Envisioning a future when cancer is managed as a chronic disease, 3D Medicines focuses on the development of differentiated immuno-oncology drugs.

After the completion of this round of financing, 3D Medicines will continue to devote itself to the field of immuno-oncology. The funds raised will be used to expand the company's product pipeline, rapidly advancing the progress of clinical trials and improving the layout of the industrial chain. It will also build a professional team with international standards, focusing on the innovative R&D and commercialization of immuno-oncology.

Immune-oncology, the most promising innovative treatment

Cancer has become one of the major public health issues that threaten human health. According to public data, the number of new cancer cases in China is nearly 4 million per year, with an average of 7 new cancer patients every minute. The high incidence of cancer has also brought about a huge demand for anti-tumor drugs. According to statistics, the total output value of anti-tumor drugs in China is expected to exceed RMB 130 billion in 2020.

Immuno-oncology is currently the most effective means of tumor treatment, which aims to control and treat tumors by regulating the body's immune system. Compared to traditional therapies, immuno-oncology is more durable and have a broader range of indications, making it the most promising innovative treatment for the market. This is supported by Frost & Sullivan's China Biologics Market Research Report. According to the report, China's PD-1/PD-L1 inhibitor market is expected to reach RMB 66.4 billion in 2023, with a CAGR of 133.5% from 2018 to 2023, with the successive launch of PD-1/PD-L1 products as the representative drug for cancer immunotherapy. Meanwhile, the global PD-1/PD-L1 inhibitor market is expected to grow further, peaking at $79.8 billion in 2027.

3D Medicines focuses on the R&D of immuno-oncology, and has some assets in late-stage clinical trials, with multiple products coming to market in the near future. The first round of financing of $140 million also represents the industry's recognition of 3D Medicines.

Immuno-oncology, helping people with cancer live longer and better

As tumor treatment has gradually entered the era of chronic disease management, tumor patients have the rising requirements for quality of life. It means that the goal of tumor treatment is not only to improve the five-year survival rate, but also to provide patients with a better life of quality and dignity. 3D Medicines follows the mission to help people with cancer live longer and better. Envisioning a future when cancer is managed as a chronic disease, we focus on the development of differentiated immuno-oncology drugs. On the basis of full assessment of cancer patients‘ needs, 3D Medicines breaks through the existing treatment model and is committed to make immuno-oncology drugs more accessible. On top of that, the drug is dosed by some convenient methods such as subcutaneous injection and oral administration, helping patients realize community and home dosing, improving their quality of life and further meeting the needs of chronic disease management.

"Thanks so much for your strong support! This outstripped round of financing showed the investors‘ high recognition of our team and vision. We will continue to work hard to develop more and better innovative drugs to help people with cancer live longer and better."

——John Gong, M.D., Ph.D., Chairman and CEO of 3D Medicines, Inc.

“Efung Capital has been paying close attention to immune-oncology, the most promising innovative treatment for the market. We believe that immune-oncology will play an increasingly important role in the battle against cancer, and we highly recognize what 3D Medicines explores, strives for and persists in. We hope that through this collaboration, we can contribute together to people’s health in China and the world."

——Mr. Jinqiao Zhu, Founder and Chairman of Efung Capital

"We, along with other investors, are optimistic about the prospects of 3D Medicines and its products. Under the leadership of Dr. John Gong, 3D Medicines will grow into an important participant in the global development of immuno-oncology. We firmly believe that after this round of financing, 3D Medicines will make good use of its cutting-edge strategic vision and rich technical accumulation to further expand the width and depth of its devotion to immune-oncology."

——Mr. Jiongwei Xu, Chairman of China Capital Management

"We have paid attention to the global trend in chronic disease management, and the immuno-oncology drugs developed by 3D Medicines will provide forward-looking solutions that will lead to the development of immuno-oncology. We are fortunate to participate in this great cause that benefits tumor patients and their families around the world, and together with 3D Medicines, we will accelerate the R&D and commercialization of immuno-oncology drugs."

——Adrian Cheng, Ph.D., a renowned entrepreneur and investor

About 3D Medicines

3D Medicines, Inc. is a clinical-stage biopharmaceutical company with a mission to help people with cancer live longer and better. Envisioning a future when cancer is managed as a chronic disease, 3D Medicines focuses on the development of personalized immuno-oncology drugs, helping cancer patients live with prolonged survival time and a better quality of life. 3D Medicines has established a pipeline with innovative biological and small-molecule anti-cancer drugs, as well as a professional team capable of global development, registration and commercialization operation.

About Efung Capital

Shenzhen Efung Investment Management Enterprise L.P. is one of China's earliest institutions investing in professional biomedical industries. Our strong research team and great investment returns made us won 'The Most Pioneering VC Institution” 'The Most Dynamic Pharmaceutical VC Institution in China' and 'The Top Ten VC Institutions in Shenzhen'. With this influence, Efung has drawn a lot of attention from the medical and life science industry. And it is interviewed by Nature, which is the most authoritative science magazine in the world. Over a decade of years, we have been focusing on the medical and health industry, especially the VC and PE investment business of novel drugs and high-end medical devices. The mission of Efung is to drive the industrialization of medical researches by capital and to gain rich returns to investors. Efung has deeply screened and invested in more than 20 domestic and international premium enterprises, such as Chipscreen Biosciences, Frontier Biotechnologies, Ascentage Pharma, Lifotronic, Aridis Pharmaceuticals, and Centrexion. We have taken many years in the business and raised the core concept of 'taking entrepreneurs as the center and value creators as the basis'. With this concept, we have built an experienced and featured professional investment team. Efung also persists in a systematic operation that integrates investment, financing, risk control, management, and service. We have the confidence to become a well-grounded, people-oriented and trustworthy investment institution.

About China Capital Management

China Capital Management Co., Ltd. was established on November 27, 2017, with a registered capital of RMB 3.7 billion, and is a wholly-owned subsidiary of China Securities engaged in the investment of its own funds. Its main investment direction is in the fields of intelligent manufacturing, "communication and electronics", "new economy industry" and "healthcare", and its main investment products include equity investment, M&A investment, alternative asset investment, special opportunity investment, and equity investment in the board of science and technology.

By combining the advantages of the strong integrated business platform of China Securities, China Capital Management can fully leverage its business synergy in many areas, such as follow-up financing, industry research, project screening, IPO, M&A and restructuring, further helping enterprises achieve make leapfrog progress.

About Adrian Cheng,Ph.D.

Adrian Cheng,Ph.D. is the founder of K11, a famous cultural entrepreneur and the soul behind New Century Developing Group and Chow Tai Fook Group. He has made good use of innovative thinking, combining business and culture to create a new business operation model. As a well-known investor, Adrian Cheng, Ph.D. is also committed to providing early-stage financial support to lifestyle and technology-led start-up platforms. Dr. Cheng always focuses on the healthcare sector and he has invested in domestic and international biopharmaceutical projects such as Alphamab and Athenex, which have brought cutting-edge treatment assets and solutions to patients and won the wide recognition across the market. WeDoctor, Sanbo Brain Hospital and New Century International Children's Hospital that he has invested in, focus on quality and innovative medical services and promote the sustainable development of medical treatment and research.

Adrian Cheng, Ph.D. was named one of the "Young Global Leaders" by the World Economic Forum and one of the "Top 40 Under 40" by Fortune Magazine. In 2019, he was awarded "Most Influential Person" among "China's Top 10 People of the Year in Equity Investment" by the FOF Weekly, and "Hong Kong's Innovative Leader Award" by Our Hong Kong Foundation.