Bayer and RTW Investments lead Series D financing in Chinese biotech Ji Xing Pharmaceuticals

Ein Forscher untersucht genetische Daten in einem modernen High-Tech-Labor. (Quelle: Bayer AG) / A research scientist is using a tablet Computer in a modern high-tech laboratory to study genetics. (Source: Bayer AG)

Bayer and RTW Investments, LP (“RTW”) today announced an equity investment into Ji Xing Pharmaceuticals Limited (“JIXING”) in the amount of USD 35 million and USD 127 million respectively. JIXING, founded and backed by RTW, is a clinical-stage biopharmaceutical company committed to bringing innovative medicines to Chinese patients with serious and life-threatening diseases. The collaboration will grant Bayer privileged rights to negotiate the commercialization of JIXING’s pipeline assets in the areas of cardiovascular diseases and ophthalmology.

In addition to tapping into Bayer’s deep experience in the cardiovascular and ophthalmology fields, the collaboration will leverage the company’s significant presence in China. Bayer and JIXING will also form a joint portfolio strategy committee to explore potential additional business development opportunities, and Xiaolan Zhou, Executive Vice President, Pharmaceuticals Division, Bayer AG, President of Bayer Pharmaceuticals China, President of Bayer Greater China, will join JIXING’s Board of Directors.

“Collaborating with RTW is an important step in our ongoing efforts to transform patient care in areas of high unmet medical need,” said Juergen Eckhardt, M.D., Member of the Executive Committee of Bayer’s Pharmaceuticals Division and Head of Business Development, Licensing & Open Innovation and Head of Leaps by Bayer. “With the investment in JIXING, we continue to expand our global network and strengthen our local presence in China.”

“JIXING is on an exciting growth trajectory, driven by a world-class research and development team with a unique understanding of how to most effectively deliver innovative therapies that address complicated diseases to millions of Chinese patients,” said Roderick Wong, Managing Partner and Chief Investment Officer of RTW. “We believe JIXING is well-positioned to achieve its mission to bring breakthrough therapeutics for millions of people across China.”

“We are pleased to enter into this strategic partnership with Bayer, a leading multinational pharmaceutical company with a strong presence in China,” said Sandy Mou, Board Executive Director and Chief Executive Officer of JIXING. “Today’s milestones will help, strengthen JIXING's capabilities to develop and produce new drugs from preclinical stage to market launch, and enable us to rapidly expand our reach globally. We look forward to continuing to advance and deliver innovative therapies and solutions to patients.”

Leaps by Bayer, the impact investment arm of Bayer AG, is joining RTW, who incubated JIXING in 2019, in leading JIXING’s Series D financing.