Primavera Venture Partners Leads AI Micro-pharmaceutical Leader "Xbiome" to Close Series B+ Funding Round of Over $10 Million
Xbiome, the first domestic AI pharmaceutical company in China focusing on intestinal microecology therapy, today announced that it has completed a Series B+ financing round of tens of millions of dollars. The round was led by Primavera Venture Partners and Gaorong Capital, and included investments from Wuyuan Capital, Legend Capital, Yimei Capital and Yayi Capital. The funding will be used mainly for the development of Xbiome clinical trials in 2021, the development of a new drug pipeline, and the continued development and buildout of its six existing technology platforms. This is the largest funding round in the domestic micro-ecology pharmaceutical industry in China to date.
“Following the successful clinical trials of several microbial pharmaceutical companies in the US, the micro-pharmaceutical sector is gaining more attention internationally and is being supported by all parties, including traditional pharmaceutical companies, regulatory agencies and the capital market,” said Dr. Yan Tan, founder of Xbiome, “We are grateful for our investors’ continued recognition and support of the micro-pharmaceutical industry and Xbiome. Now that the micro-pharmaceutical industry is gradually moving towards a more mature stage, we hope that Xbiome will represent China in this industry and be among the top tier internationally.”
Johnny Zou, Co-Head of Primavera Venture Partners, noted, “The global microbial pharmaceutical field is booming and has great potential for development and application in various disease areas. Under the leadership of Dr. Tan and his team, Xbiome is not only unique in China, but also highly competitive in the global market. Primavera is highly optimistic about the future development of Xbiome and believes that Xbiome will represent China to thrive in the global microbial pharmaceutical field, continue to improve the efficiency of the application of AI algorithms in this field, and be among the world’s top microbial pharmaceutical companies.”
Founded in 2017, Xbiome is the first AI-powered microbial pharmaceutical company in China, dedicated to challenging intractable human diseases and improving public health with AI and bioengineering technology. Using its innovative drug development model and in-house drug development platform, Xbiome combines AI and intestinal microecology technology to form a closed loop microecology drug development system which will greatly improve the efficiency and success rate of drug development.