Decheng Capital

Decheng Capital LLC is a private equity and venture capital firm established in 2012, with headquarters in Menlo Park, California, and additional offices in Shanghai and New York. The firm specializes in early-stage and growth-stage investments, primarily focusing on sectors such as life sciences, healthcare, biopharmaceuticals, medical devices, diagnostics, digital health, and agricultural biotechnology. Decheng Capital aims to support companies with innovative technologies and strong market positions, particularly in China. With over $1 billion in capital under management, the firm leverages its expertise and extensive network to create value for its portfolio companies and deliver returns for its investors.

Peter Colabuono

Partner

MIN CUI, PH.D

Founder and Managing Director

Shengyang Jin

Associate

Aaron Li

Vice President

Yang Lu

Vice President

Michael Notaras

Vice President

Nick Pliam

Venture Partner

Tony Tong

Partner

Qiang Xu

Partner

Wei Xu

Partner

Y. Katherine Xu

Partner

71 past transactions

Acelyrin

Series C in 2022
Acelyrin is a late-stage clinical biopharmaceutical company dedicated to delivering innovative treatment options to patients. The company specializes in identifying, acquiring, and accelerating the development and commercialization of promising drug candidates. By leveraging its expertise, Acelyrin aims to advance transformative medicines that can significantly improve patient outcomes.

Upstream Bio

Series A in 2022
Upstream Bio is a clinical-stage biotechnology company established in 2004 and headquartered in the United States. The company specializes in developing antibody therapies aimed at treating inflammatory diseases, with a primary focus on severe respiratory disorders, particularly severe asthma. Upstream Bio is advancing its lead candidate, verekitug, an antagonist that targets the receptor for Thymic Stromal Lymphopoietin (TSLP), a cytokine known to play a significant role in driving inflammatory responses. The approach of targeting TSLP positions Upstream Bio to address various immune-mediated conditions by intervening at a crucial point in the signaling pathways involved in inflammation.

Watchmaker Genomics

Series A in 2022
Watchmaker Genomics, Inc. is a biotechnology company focused on advancing the applications of DNA reading, writing, and editing. Based in Boulder, Colorado, the company specializes in protein engineering and enzyme manufacturing, which are critical for meeting the quality and performance demands of various genomics applications. By providing scalable supply chain solutions, Watchmaker Genomics enhances genomic experiments, assays, and workflows for its clients. Founded in 2018 and originally known as Alpha Catalyst Genomics, Inc., the company rebranded in July 2019 to better reflect its mission in the genomic landscape.

Mirvie

Series B in 2022
Mirvie is a biotech company that creates precise, actionable, and non-invasive tests for maternal-fetal health. The company delivers insights to moms and families to make pregnancy safe. It was founded in 2018 by Maneesh Jain and is headquartered in South San Francisco, California, United States.

USCI Medical Laboratory

Private Equity Round in 2022
Provider of tumor diagnosis and eugenics gene sequencing solutions. The company specializes in developing integrated multi-stage diagnostic equipment and clinical processes to focus on bioinformatics, diagnostic error suppression and NIPT testing, providing technical and medical support to advance the development of genomic disease screening and prevention.

Nalu Medical

Venture Round in 2022
Nalu Medical is an early-stage company that develops a range of medical devices. Their vision to modernize and improve the technology in medical devices, thus improving the lives of people. The Nalu neurostimulation system is a battery-free, micro-implantable pulse generator (iPG) currently cleared by the FDA for both Spinal Cord Stimulation (SCS) and Peripheral Nerve Stimulation (PNS) for mitigating chronic pain. The company was founded in 2014 and is based in Carlsbad, California.

ImmPACT Bio

Series B in 2022
ImmPACT Bio USA Inc. is a cell therapy company aiming to develop potent and selective engineered T-cells for the treatment of solid tumors. The Company's technology enables targeting loss-of-gene features of solid tumor cells, sparing normal, healthy tissues.

Kind Pharmaceutical

Series B in 2021
Kind Pharmaceutical is a clinical-stage biopharmaceutical company that focuses on the discovery and development of anemia drugs. The company was founded in 2013 and is headquartered in Redwood City, California, United States.

Acelyrin

Series B in 2021
Acelyrin is a late-stage clinical biopharmaceutical company dedicated to delivering innovative treatment options to patients. The company specializes in identifying, acquiring, and accelerating the development and commercialization of promising drug candidates. By leveraging its expertise, Acelyrin aims to advance transformative medicines that can significantly improve patient outcomes.
Alpine Immune Sciences, Inc. is a clinical-stage biopharmaceutical company based in Seattle, Washington, specializing in the discovery and development of protein-based immunotherapies aimed at treating cancer, autoimmune, and inflammatory disorders. The company's lead programs include ALPN-101, an antagonist targeting the inducible T cell costimulator and CD28 pathways for autoimmune and inflammatory diseases, and ALPN-202, which combines programmed cell death protein ligand 1 and cytotoxic T-lymphocyte associated protein 4 antagonism with PD-L1 dependent CD28 costimulation for cancer treatment. Additionally, Alpine has a collaboration with Kite Pharma, Inc. to develop immunotherapies that target the immune synapse for cancer therapy. The company utilizes a proprietary platform to transform native immune system proteins into innovative, multi-targeted therapeutics.

Mammoth Biosciences

Series D in 2021
Mammoth Biosciences, Inc. is a biotechnology company based in South San Francisco, California, founded in 2017. It specializes in developing advanced CRISPR solutions, including its proprietary DETECTR technology, which allows for the detection of specific nucleic acids in samples, aiding in diagnostics for various conditions such as bacterial infections, cancer, and viral infections. The company focuses on democratizing disease detection through accessible point-of-care tests that can simultaneously identify multiple health issues. Additionally, Mammoth offers CRISPR-Cas systems for genome editing, targeting therapeutic applications in immuno-oncology, autoimmune diseases, and liver diseases. Its innovative solutions are utilized across diverse sectors, including healthcare, agriculture, environmental monitoring, and biodefense. Co-founded by CRISPR pioneer Jennifer Doudna, Mammoth Biosciences is supported by notable institutional and individual investors, reflecting its commitment to harnessing CRISPR technology for significant advancements in life sciences.

Shape Therapeutics

Series B in 2021
Shape Therapeutics, Inc. is a biotechnology company based in Seattle, Washington, focused on RNA-editing gene therapy for various medical conditions, including neurodegenerative disorders, oncology, metabolic diseases, and rare genetic diseases. Founded in 2018, the company has developed RNAfix technology, which utilizes the natural cellular machinery of the human body to edit RNA. This approach significantly reduces the risks of immunogenicity, cellular toxicity, and off-target DNA editing that are often associated with traditional gene-editing methods, such as CRISPR. Shape Therapeutics aims to create next-generation gene therapies that provide effective and safer treatment options for patients with challenging medical conditions.

Shape Therapeutics

Series B in 2021
Shape Therapeutics, Inc. is a biotechnology company based in Seattle, Washington, focused on RNA-editing gene therapy for various medical conditions, including neurodegenerative disorders, oncology, metabolic diseases, and rare genetic diseases. Founded in 2018, the company has developed RNAfix technology, which utilizes the natural cellular machinery of the human body to edit RNA. This approach significantly reduces the risks of immunogenicity, cellular toxicity, and off-target DNA editing that are often associated with traditional gene-editing methods, such as CRISPR. Shape Therapeutics aims to create next-generation gene therapies that provide effective and safer treatment options for patients with challenging medical conditions.

GRIT Biotechnology

Series A in 2021
GRIT Biotechnology is engaged in research and development of tumor infiltration lymphocytes immunotherapy for curing solid tumors. The company is based in Shanghai, China.

Adela

Series A in 2021
Adela is focused on the detection of cancer and other high-morbidity, high-mortality conditions through a routine blood test.

Cue

Private Equity Round in 2021
Cue Health Inc. is a healthcare technology company based in San Diego, California, specializing in the development and manufacturing of diagnostic screening devices for home use. Founded in 2010, the company offers a connected diagnostic platform known as the Cue Health Monitoring System, which allows users to conduct self-serve tests that provide lab-quality results. This platform enables individuals to track key health indicators, including inflammation, vitamin D, fertility, influenza, and testosterone, through a user-friendly device that connects to a smartphone app. The Cue app not only displays test results but also integrates data on lifestyle factors such as activity and sleep, facilitating a comprehensive view of health at a molecular level. Additionally, Cue Health provides various services for healthcare professionals, including tools for managing patient test histories and telemedicine consultations. The company's innovative approach empowers consumers and healthcare providers alike to access critical health information easily and effectively.

Cellares

Series B in 2021
Cellares Corporation, founded in 2019 and based in South San Francisco, California, focuses on advancing cell therapy manufacturing for cancer treatment. The company aims to address the significant challenges associated with the production of cell therapies, which are often expensive and time-consuming due to their current one-patient-at-a-time manufacturing model. Cellares is developing The Cell Shuttle, an innovative automated and closed end-to-end manufacturing solution designed to enhance scalability and reduce costs. This system allows for the simultaneous production of multiple patient doses, increasing efficiency by tenfold compared to traditional methods. Additionally, The Cell Shuttle is expected to decrease process failure rates by three times and reduce manufacturing costs per patient by up to 70%. By integrating advanced technologies into the production process, Cellares is committed to accelerating access to life-saving therapies for patients in need.

PackGene Biotech

Series C in 2021
PackGene Biotech, LLC develops viral vectors for gene therapies. The company offers adeno-associated virus (AAV) vector cloning/packaging services. PackGene Biotech, LLC is based in the United States.

Bioheng

Series B in 2021
Nanjing Bioheng Biotech Co., Ltd., established in 2017 and based in Nanjing, China, is a clinical biopharmaceutical and biotechnology company that focuses on developing innovative immunotherapies and next-generation gene therapies for cancer and other diseases. The company offers advanced gene editing techniques and CAR-T therapies, and has created a robust production platform for plasmid, virus, and cell manufacturing. Bioheng has developed a GMP-grade clinical translational center and is recognized for its expertise in cell engineering and clinical applications. With a commitment to creating safer and more affordable cell therapy drugs, Bioheng aims to enhance patient access to effective treatments. The company has secured significant funding to further its research and development efforts, leveraging its extensive patent portfolio and industry experience to drive advancements in immunotherapy.

EpimAb Biotherapeutics

Series C in 2021
EpimAb Biotherapeutics is a biopharmaceutical company based in Shanghai, China, focused on the research and development of novel bispecific antibody therapeutics. Utilizing its proprietary Fabs-In-Tandem Immunoglobulin (FIT-Ig) platform, the company creates bispecific molecules that possess antibody-like properties. This innovative approach aims to address the challenges associated with developing effective bi-specific antibodies, which are engineered from two different monoclonal antibodies to combine their therapeutic features into a single entity. These bispecific antibodies hold promise for treating various life-threatening conditions, particularly in immuno-oncology, by offering new therapeutic options. Despite the potential benefits of bi-specific antibodies, many candidates face hurdles in development due to issues related to their binding properties, pharmacokinetics, and production costs. EpimAb Biotherapeutics is positioned to contribute to the growing need for advanced bi-specific therapeutics in the pharmaceutical industry.

Neurelis

Series D in 2021
Neurelis is a specialty pharmaceutical company based in Encinitas, California, that focuses on licensing, developing, and commercializing products for epilepsy and the broader central nervous system (CNS) market. Founded in 2007, the company aims to address unmet medical needs through a differentiated approach that leverages novel technologies. Neurelis specializes in enhancing drug delivery systems to improve therapeutic benefits across a variety of molecules, including therapeutic proteins, peptides, and non-peptide compounds. By applying its expertise in neuroscience, Neurelis seeks to improve patient care and outcomes for individuals affected by epilepsy and other CNS disorders.

Equillium

Post in 2021
Equillium, Inc., a clinical-stage biotechnology company, develops products for autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. Its primary product candidate is itolizumab, a clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase 1b/2 clinical trials for the treatment of acute graft-versus-host disease; and Phase 1 clinical trial for the treatment of asthma and lupus nephritis. The company was formerly known as Attenuate Biopharmaceuticals, Inc. and changed its name to Equillium, Inc. in May 2017. Equillium, Inc. was founded in 2017 and is headquartered in La Jolla, California.

Ark Biosciences

Series C in 2021
Ark Biosciences Inc. is a biopharmaceutical company based in Shanghai, China, focused on discovering and developing therapeutics for unmet medical needs, particularly in respiratory viral infections and viral hepatitis. Founded in 2013, the company is dedicated to addressing global health challenges with its innovative products, which include AK0701 for chronic obstructive pulmonary disease, AK0529 for respiratory syncytial virus, AK0612 for influenza, and AK0705 and AK0706 for hepatitis B. Ark Biosciences aims to establish itself as a leader in antiviral drug development through a commitment to scientific excellence and innovation.

LevitasBio

Series B in 2021
Levitas, Inc. is redefining cellular analytics with its novel platform magnetic levitation technology. Our disruptive technology overcomes the current technological limitation of cellular analysis by providing label free, simple, and universal methods of analysis. We are developing our platform across a wide range of cellular applications, including therapeutic, diagnostic, and research applications, which will enable a wide range of novel research and precision health.

Encodia

Series C in 2020
Encodia, Inc. engages in proteomics research and creates scalable and parallelized approaches to protein analysis. The company was founded in 2015 and is based in San Diego, California.

GRIT Biotechnology

Series A in 2020
GRIT Biotechnology is engaged in research and development of tumor infiltration lymphocytes immunotherapy for curing solid tumors. The company is based in Shanghai, China.

PackGene Biotech

Series B in 2020
PackGene Biotech, LLC develops viral vectors for gene therapies. The company offers adeno-associated virus (AAV) vector cloning/packaging services. PackGene Biotech, LLC is based in the United States.

GeneDx

Series C in 2020
Sema4 is a patient-centered predictive health company dedicated to advancing the diagnosis, treatment, and prevention of disease. With their innovative Sema4 Health Intelligence Platform, they’re using advanced network analysis to build better models of human health and deliver personalized insights for patients.

Polares Medical

Series B in 2020
Polares Medical S.A. is a medical device company based in Ecublens, Switzerland, with an additional office in Palo Alto, California. The company specializes in developing innovative solutions for patients suffering from mitral valve regurgitation. Its flagship product features a unique trans-catheter mitral valve system that facilitates the replacement of the posterior leaflet with a prosthetic leaflet. This design enables physicians to perform hemi-replacements of the mitral valve, improving coaptation with the native anterior leaflet and offering a less invasive treatment option for patients.

Cue

Series C in 2020
Cue Health Inc. is a healthcare technology company based in San Diego, California, specializing in the development and manufacturing of diagnostic screening devices for home use. Founded in 2010, the company offers a connected diagnostic platform known as the Cue Health Monitoring System, which allows users to conduct self-serve tests that provide lab-quality results. This platform enables individuals to track key health indicators, including inflammation, vitamin D, fertility, influenza, and testosterone, through a user-friendly device that connects to a smartphone app. The Cue app not only displays test results but also integrates data on lifestyle factors such as activity and sleep, facilitating a comprehensive view of health at a molecular level. Additionally, Cue Health provides various services for healthcare professionals, including tools for managing patient test histories and telemedicine consultations. The company's innovative approach empowers consumers and healthcare providers alike to access critical health information easily and effectively.

Cue

Series C in 2020
Cue Health Inc. is a healthcare technology company based in San Diego, California, specializing in the development and manufacturing of diagnostic screening devices for home use. Founded in 2010, the company offers a connected diagnostic platform known as the Cue Health Monitoring System, which allows users to conduct self-serve tests that provide lab-quality results. This platform enables individuals to track key health indicators, including inflammation, vitamin D, fertility, influenza, and testosterone, through a user-friendly device that connects to a smartphone app. The Cue app not only displays test results but also integrates data on lifestyle factors such as activity and sleep, facilitating a comprehensive view of health at a molecular level. Additionally, Cue Health provides various services for healthcare professionals, including tools for managing patient test histories and telemedicine consultations. The company's innovative approach empowers consumers and healthcare providers alike to access critical health information easily and effectively.

Checkmate Pharmaceuticals

Series C in 2020
Checkmate Pharmaceuticals is a clinical-stage biotechnology company based in Cambridge, Massachusetts, that specializes in developing novel immunotherapies for cancer treatment. Founded in 2015, the company focuses on leveraging CpG oligonucleotides to enhance anti-tumor T-cell responses and overcome the mechanisms that allow tumors to evade immune detection. By combining its proprietary technology with checkpoint inhibition, Checkmate aims to improve the efficacy of existing immunotherapies and provide new treatment options for patients. The company has formed strategic alliances with major pharmaceutical firms, including Merck KGaA and Pfizer, to further its research and development efforts in the field of cancer immunotherapy.

Everest Medicines

Series C in 2020
Everest Medicines Limited, a clinical-stage biopharmaceutical company, focuses on licensing, developing, and commercializing therapies for addressing critical unmet medical needs in Greater China and other Asia Pacific markets. It has a portfolio of eight clinical-stage drug candidates for the treatment of oncology, immunology, cardio-renal disease, and infectious diseases. The company was founded in 2017 and is headquartered in Shanghai, China.

LYNK Pharmaceuticals

Series A in 2020
LYNK Pharmaceuticals is a biotechnology company based in Hangzhou, China, specializing in the development of small molecule drugs aimed at treating tumors and autoimmune diseases. Founded in 2017, the company focuses on the discovery and development of innovative medicines in the fields of oncology, immunology, and inflammatory diseases. Its business operations include new drug research, sales, and activities related to patent authorization and transfer.

Apexigen

Series C in 2020
Apexigen Inc., a clinical-stage biopharmaceutical company, discovers and develops antibody therapeutics for the treatment of cancer. The company develops a pipeline of therapies and product candidates, including APX005M and APX201 for immuno-oncology, APX003/BD0801 and TRK-950 for oncology, APX001/SSS07 for inflammation, and APX003/TK001 for ocular diseases. It also develops APXiMAB platform, which enables discovery of antibodies for novel immune system targets. The company was founded in 2010 and is based in San Carlos, California.

Mammoth Biosciences

Series B in 2020
Mammoth Biosciences, Inc. is a biotechnology company based in South San Francisco, California, founded in 2017. It specializes in developing advanced CRISPR solutions, including its proprietary DETECTR technology, which allows for the detection of specific nucleic acids in samples, aiding in diagnostics for various conditions such as bacterial infections, cancer, and viral infections. The company focuses on democratizing disease detection through accessible point-of-care tests that can simultaneously identify multiple health issues. Additionally, Mammoth offers CRISPR-Cas systems for genome editing, targeting therapeutic applications in immuno-oncology, autoimmune diseases, and liver diseases. Its innovative solutions are utilized across diverse sectors, including healthcare, agriculture, environmental monitoring, and biodefense. Co-founded by CRISPR pioneer Jennifer Doudna, Mammoth Biosciences is supported by notable institutional and individual investors, reflecting its commitment to harnessing CRISPR technology for significant advancements in life sciences.

ReadCoor

Series B in 2020
ReadCoor, Inc. develops and commercializes a panomic spatial sequencing platform for researchers, clinicians, pharmaceutical and diagnostics companies, and patients worldwide. It offers FISSEQ, a platform that enables integration of high throughput sequencing, morphometric analysis, cellular location, and three-dimensional spatial imaging. The company’s platform also enables researchers to perform RNA-Seq while preserving sample morphology and simultaneously providing cellular location and spatial image data. ReadCoor, Inc. was incorporated in 2016 and is based in Cambridge, Massachusetts. As of October 13, 2020, ReadCoor, Inc. operates as a subsidiary of 10x Genomics, Inc.

Omniome

Series C in 2020
Omniome, Inc. is a biotechnology company based in San Diego, California, established in 2013. It specializes in developing a proprietary DNA sequencing platform that aims to deliver high accuracy in sequencing results. The company employs its Sequencing By Binding technology, which enhances nucleotide and DNA matching by utilizing the natural matching capabilities of polymerase. This innovative approach not only provides precise and rapid results but also offers a cost-effective solution, which has the potential to significantly advance cancer diagnostics. Omniome is backed by prominent life sciences venture investors and is focused on becoming a trusted leader in the field of clinical sequencing.

KeChow Pharma

Series C in 2019
Shanghai Kechow Pharma, Inc. is a biopharmaceutical company established in 2014 and headquartered in Shanghai, China. The company specializes in the discovery of targeted small molecule drugs, aiming to develop innovative therapies that improve upon existing treatments. KeChow Pharma collaborates with various partners to co-develop its drug candidates, emphasizing a commitment to advancing healthcare through novel therapeutic solutions.

Zepto

Venture Round in 2019
Mynosys Cellular Devices is a global ophthalmic technology company dedicated to providing surgeons with innovative solutions that enable procedural excellence

GeneDx

Series B in 2019
Sema4 is a patient-centered predictive health company dedicated to advancing the diagnosis, treatment, and prevention of disease. With their innovative Sema4 Health Intelligence Platform, they’re using advanced network analysis to build better models of human health and deliver personalized insights for patients.

Hummingbird Bioscience

Series A in 2019
Hummingbird Bioscience Pte. Ltd. is a biotechnology company based in Singapore, specializing in the development of antibody-based therapeutics for cancer. Founded in 2014, it leverages advances in systems biology and a proprietary rational antibody discovery platform to create innovative biotherapeutics. The company focuses on a diverse pipeline of drug candidates, which includes lead assets such as HMBD-001, an anti-HER3 antibody, and HMBD-002, an anti-VISTA antibody, both aimed at addressing significant unmet medical needs in oncology. Hummingbird Bioscience has established strategic collaborations with notable organizations such as Cancer Research UK and Amgen, and it has received a product development grant from the Cancer Prevention and Research Institute of Texas. The company's goal is to enhance treatment options for patients facing challenging cancer diagnoses through its cutting-edge research and development efforts.

AnHeart Therapeutics

Series A in 2019
AnHeart Therapeutics is a clinical-stage biopharmaceutical company based in Hangzhou, China, founded in 2018. The company focuses on the discovery and development of innovative pharmaceutical products aimed at improving human health and the quality of life for cancer patients. AnHeart is dedicated to acquiring and commercializing novel therapies, with its lead product being AB-106, an oral small molecule inhibitor that selectively targets ROS1 and NTRK. Through its research and development efforts, AnHeart Therapeutics seeks to advance precision therapies that address the needs of individuals affected by cancer.

Baoyuan Biomedical

Series A in 2019
Baoyuan Biomedical is a clinical stage company focused on acquiring, developing and commercializing innovative drugs that improve human health and quality of life, and is committed to innovative drug development that does not meet clinical needs. Its main research product, AB-106, is an oral, highly selective ROS1/NTRK small molecule inhibitor.

Bioheng

Series A in 2019
Nanjing Bioheng Biotech Co., Ltd., established in 2017 and based in Nanjing, China, is a clinical biopharmaceutical and biotechnology company that focuses on developing innovative immunotherapies and next-generation gene therapies for cancer and other diseases. The company offers advanced gene editing techniques and CAR-T therapies, and has created a robust production platform for plasmid, virus, and cell manufacturing. Bioheng has developed a GMP-grade clinical translational center and is recognized for its expertise in cell engineering and clinical applications. With a commitment to creating safer and more affordable cell therapy drugs, Bioheng aims to enhance patient access to effective treatments. The company has secured significant funding to further its research and development efforts, leveraging its extensive patent portfolio and industry experience to drive advancements in immunotherapy.
Alpine Immune Sciences, Inc. is a clinical-stage biopharmaceutical company based in Seattle, Washington, specializing in the discovery and development of protein-based immunotherapies aimed at treating cancer, autoimmune, and inflammatory disorders. The company's lead programs include ALPN-101, an antagonist targeting the inducible T cell costimulator and CD28 pathways for autoimmune and inflammatory diseases, and ALPN-202, which combines programmed cell death protein ligand 1 and cytotoxic T-lymphocyte associated protein 4 antagonism with PD-L1 dependent CD28 costimulation for cancer treatment. Additionally, Alpine has a collaboration with Kite Pharma, Inc. to develop immunotherapies that target the immune synapse for cancer therapy. The company utilizes a proprietary platform to transform native immune system proteins into innovative, multi-targeted therapeutics.

Luckin Coffee

Series B in 2018
Luckin Coffee Inc. is a prominent coffee retailer in China, dedicated to providing freshly brewed drinks and pre-made food items. Founded in 2017 and headquartered in Xiamen, the company aims to establish itself as a leading coffee brand and service provider by utilizing high-quality raw materials and innovative business models. Luckin Coffee operates a variety of store formats, including pick-up stores, relax stores, and delivery kitchens, enabling a flexible customer experience. The company leverages technology through its mobile app and partnerships with third-party platforms to facilitate purchases. As of March 2019, it had over 2,370 locations across 28 cities in China. To enhance its offerings, Luckin sources Arabica coffee beans from various suppliers and collaborates with World Barista Champion teams to create its coffee recipes, while also providing a selection of juices and light meals.

Checkmate Pharmaceuticals

Series C in 2018
Checkmate Pharmaceuticals is a clinical-stage biotechnology company based in Cambridge, Massachusetts, that specializes in developing novel immunotherapies for cancer treatment. Founded in 2015, the company focuses on leveraging CpG oligonucleotides to enhance anti-tumor T-cell responses and overcome the mechanisms that allow tumors to evade immune detection. By combining its proprietary technology with checkpoint inhibition, Checkmate aims to improve the efficacy of existing immunotherapies and provide new treatment options for patients. The company has formed strategic alliances with major pharmaceutical firms, including Merck KGaA and Pfizer, to further its research and development efforts in the field of cancer immunotherapy.

Terns Pharmaceuticals

Series B in 2018
Terns Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing oral, small-molecule drugs for the treatment of cancer and liver diseases, particularly non-alcoholic steatohepatitis (NASH). Founded in 2017 and headquartered in Foster City, California, with additional offices in Shanghai, the company leverages its expertise in disease biology and medicinal chemistry to advance a pipeline of innovative therapeutic candidates. Key products include TERN-101, a non-bile acid farnesoid X receptor agonist, and TERN-201, an inhibitor of semicarbazide-sensitive amine oxidase. Terns Pharmaceuticals aims to address significant unmet medical needs both in China and globally through its efficient drug discovery model and extensive clinical development capabilities.

VelosBio

Series A in 2018
VelosBio, Inc. is a clinical-stage biopharmaceutical company based in San Diego, California, focused on developing innovative antibody-drug conjugates (ADCs) to treat hematological cancers and solid tumors. The company specializes in therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1), a cell-surface protein commonly found in various tumors but absent in normal tissues, making it a promising target for cancer treatment. Its lead product, VLS-101, is designed as a ROR1-directed ADC aimed at patients with both hematologic and solid tumor malignancies. Founded in 2017, VelosBio has demonstrated positive preclinical results for its ROR1-directed therapeutics, paving the way for potential use in monotherapy or in combination with other treatments across a wide range of cancers. As of late 2020, VelosBio operates as a subsidiary of Merck & Co., Inc.

Apexigen

Series B in 2018
Apexigen Inc., a clinical-stage biopharmaceutical company, discovers and develops antibody therapeutics for the treatment of cancer. The company develops a pipeline of therapies and product candidates, including APX005M and APX201 for immuno-oncology, APX003/BD0801 and TRK-950 for oncology, APX001/SSS07 for inflammation, and APX003/TK001 for ocular diseases. It also develops APXiMAB platform, which enables discovery of antibodies for novel immune system targets. The company was founded in 2010 and is based in San Carlos, California.

IMPACT Therapeutics

Series C in 2018
IMPACT Therapeutics, Inc. is a biotechnology company focused on discovering, developing, and commercializing therapeutics for cancer and other serious diseases. Founded in 2009 and headquartered in Shanghai, China, the company is engaged in several research and development projects, including the development of PARP inhibitors, Wee1 inhibitors, novel DNA damage response agents, and Hedgehog pathway inhibitors. IMPACT Therapeutics aims to create best-in-class drugs with independent intellectual property rights, emphasizing the discovery of targeted anti-cancer therapies based on the principle of synthetic lethality. The company’s management team possesses extensive experience in drug development and management, with a strong background in pharmacology and biology, which supports its mission to provide innovative treatments for patients with life-threatening conditions.

Omniome

Series B in 2018
Omniome, Inc. is a biotechnology company based in San Diego, California, established in 2013. It specializes in developing a proprietary DNA sequencing platform that aims to deliver high accuracy in sequencing results. The company employs its Sequencing By Binding technology, which enhances nucleotide and DNA matching by utilizing the natural matching capabilities of polymerase. This innovative approach not only provides precise and rapid results but also offers a cost-effective solution, which has the potential to significantly advance cancer diagnostics. Omniome is backed by prominent life sciences venture investors and is focused on becoming a trusted leader in the field of clinical sequencing.

Polares Medical

Series A in 2018
Polares Medical S.A. is a medical device company based in Ecublens, Switzerland, with an additional office in Palo Alto, California. The company specializes in developing innovative solutions for patients suffering from mitral valve regurgitation. Its flagship product features a unique trans-catheter mitral valve system that facilitates the replacement of the posterior leaflet with a prosthetic leaflet. This design enables physicians to perform hemi-replacements of the mitral valve, improving coaptation with the native anterior leaflet and offering a less invasive treatment option for patients.

Mindstrong

Series B in 2018
Mindstrong Inc., operating as Mindstrong Health, focuses on remote patient monitoring and mental health symptom assessment through its innovative application. The platform utilizes AI-powered digital biomarker technology to enable users to monitor their mental health symptoms continuously and objectively. Mindstrong offers a range of services, including cognitive behavioral therapy, crisis management, and psychoeducation, delivered through structured messaging sessions. The company develops comprehensive care pathways that integrate passively collected data on cognitive function and mood, enhancing patient engagement through telehealth solutions. Founded in 2013 and based in Mountain View, California, Mindstrong collaborates with various stakeholders, including pharmaceutical companies, healthcare providers, and academic institutions, to advance medical innovation and improve healthcare delivery.

Arcus Biosciences

Series C in 2017
Arcus Biosciences is a clinical-stage biopharmaceutical company based in Hayward, California, focused on developing innovative cancer therapies through insights in immunology. Founded in 2015 by experienced researchers from the biotechnology sector, the company is advancing a pipeline that includes several promising candidates. Notably, it is developing AB928, a dual A2a/A2b adenosine receptor antagonist, and Zimberelimab, an anti-PD-1 monoclonal antibody, both currently in clinical trials. Additionally, Arcus is working on AB154, an anti-TIGIT monoclonal antibody, and AB680, a small-molecule CD73 inhibitor, targeting various cancer types such as non-small cell lung cancer and pancreatic cancer. The company has established partnerships with organizations like Strata Oncology and AstraZeneca to enhance its research efforts and expand its clinical trials. By focusing on the ATP-adenosine pathway, which plays a crucial role in tumor immunosuppression, Arcus aims to create and optimize differentiated immuno-oncology therapies for patients.

ARMO BioSciences

Series C in 2017
ARMO Biosciences is a biotechnology company that develops immune modulatory biologic therapeutics. The company is based in Redwood City, California.

LevitasBio

Venture Round in 2017
Levitas, Inc. is redefining cellular analytics with its novel platform magnetic levitation technology. Our disruptive technology overcomes the current technological limitation of cellular analysis by providing label free, simple, and universal methods of analysis. We are developing our platform across a wide range of cellular applications, including therapeutic, diagnostic, and research applications, which will enable a wide range of novel research and precision health.

Aadi Bioscience

Series A in 2017
Aadi Bioscience, Inc. is a clinical stage biopharmaceutical company based in Pacific Palisades, California, founded by Dr. Neil Desai in 2011. The company focuses on the development of a potentially best-in-class mTOR inhibitor, specifically ABI-009, aimed at treating patients with oncology, cardiovascular, and metabolic diseases. Aadi Bioscience is dedicated to addressing unmet medical needs through its innovative therapeutic approaches in these areas.

EpimAb Biotherapeutics

Series A in 2017
EpimAb Biotherapeutics is a biopharmaceutical company based in Shanghai, China, focused on the research and development of novel bispecific antibody therapeutics. Utilizing its proprietary Fabs-In-Tandem Immunoglobulin (FIT-Ig) platform, the company creates bispecific molecules that possess antibody-like properties. This innovative approach aims to address the challenges associated with developing effective bi-specific antibodies, which are engineered from two different monoclonal antibodies to combine their therapeutic features into a single entity. These bispecific antibodies hold promise for treating various life-threatening conditions, particularly in immuno-oncology, by offering new therapeutic options. Despite the potential benefits of bi-specific antibodies, many candidates face hurdles in development due to issues related to their binding properties, pharmacokinetics, and production costs. EpimAb Biotherapeutics is positioned to contribute to the growing need for advanced bi-specific therapeutics in the pharmaceutical industry.

Cirina

Series A in 2016
Cirina is focused on developing innovative blood-plasma tests aimed at the early detection of deadly diseases, particularly cancer. By identifying these conditions at their earliest stages, the company enables patients to pursue curative treatments more effectively. Founded by Dennis Lo, a pioneer in plasma nucleic acid research, Cirina leverages advanced scientific insights to create testing products that facilitate timely monitoring and intervention. Headquartered in South San Francisco, California, the company is actively seeking to expand its team with top scientific and business talent to further its mission of empowering individuals to take proactive measures against devastating diseases.

ReadCoor

Series A in 2016
ReadCoor, Inc. develops and commercializes a panomic spatial sequencing platform for researchers, clinicians, pharmaceutical and diagnostics companies, and patients worldwide. It offers FISSEQ, a platform that enables integration of high throughput sequencing, morphometric analysis, cellular location, and three-dimensional spatial imaging. The company’s platform also enables researchers to perform RNA-Seq while preserving sample morphology and simultaneously providing cellular location and spatial image data. ReadCoor, Inc. was incorporated in 2016 and is based in Cambridge, Massachusetts. As of October 13, 2020, ReadCoor, Inc. operates as a subsidiary of 10x Genomics, Inc.

SentreHEART

Series D in 2016
SentreHEART, Inc., based in Redwood City, California, is a privately held medical device company that manufacturers the LARIAT Suture Delivery Device for remote delivery of a pre-tied suture loop. Innovation in catheter and suture delivery technology enables physicians to remotely deliver a 40mm pre-tied suture loop for immediate and complete soft tissue closure through access as small as 4.3mm and with no metal, clips or fabrics left behind. Regulatory clearance for soft tissue ligation and approximation has been received in the US, Europe, and Canada.

AccuraGen

Series B in 2016
AccuraGen Inc., founded in 2013 and located in Menlo Park, California, specializes in developing sequencing-based systems for detecting cancer mutations. The company has created a high-sensitivity technology that utilizes next-generation sequencing to identify cancer-related mutations in small amounts of circulating cell-free DNA (cfDNA) found in blood samples. This innovative approach addresses challenges in analyzing cfDNA by employing proprietary molecular biology techniques and computational algorithms that enhance error suppression. AccuraGen's system can amplify nanogram quantities of highly fragmented cfDNA over 1000-fold, allowing for the screening of a wide array of cancer-related genes with exceptional sensitivity, including at the single-digit molecular level. This technology aims to improve personalized cancer treatment by providing oncologists and clinicians with reliable molecular diagnostic capabilities.

GeneWEAVE

Series B in 2014
GeneWeave Biosciences is advancing clinical microbiology with diagnostic solutions that will enable hospitals and physicians around the world to prevent drug-resistant infections, improve antibiotic stewardship and quickly determine the optimal antibiotic therapy for critical bacterial infections. The company’s innovative and proprietary Smarticles™ technology harnesses the power of biology to enable homogeneous assays that rapidly measure bacterial drug resistance without the need for enrichment, culture, or sample preparation.

GenapSys

Series B in 2013
GenapSys, Inc. develops innovative DNA sequencing technologies for applied genomic testing and medical sequencing. The company's primary product, the GenapSys Sequencer, utilizes electrical-based detection for single nucleotide incorporations, facilitating sequencing in various laboratory settings and automating clonal amplification. GenapSys offers solutions for a wide range of applications, including research, gene editing, drug development, agriculture, forensics, and food testing. Additionally, the company seeks to collaborate with local health agencies and researchers to enhance access to sequencing insights, particularly for controlling and mitigating outbreaks. The compact and portable nature of the sequencer allows it to operate from standard power sources, making it suitable for deployment in hospitals, airports, and public transportation hubs to provide rapid results for virus samples. Founded in 2010, GenapSys is headquartered in Redwood City, California.

GenapSys

Series A in 2013
GenapSys, Inc. develops innovative DNA sequencing technologies for applied genomic testing and medical sequencing. The company's primary product, the GenapSys Sequencer, utilizes electrical-based detection for single nucleotide incorporations, facilitating sequencing in various laboratory settings and automating clonal amplification. GenapSys offers solutions for a wide range of applications, including research, gene editing, drug development, agriculture, forensics, and food testing. Additionally, the company seeks to collaborate with local health agencies and researchers to enhance access to sequencing insights, particularly for controlling and mitigating outbreaks. The compact and portable nature of the sequencer allows it to operate from standard power sources, making it suitable for deployment in hospitals, airports, and public transportation hubs to provide rapid results for virus samples. Founded in 2010, GenapSys is headquartered in Redwood City, California.

GeneWEAVE

Series A in 2012
GeneWeave Biosciences is advancing clinical microbiology with diagnostic solutions that will enable hospitals and physicians around the world to prevent drug-resistant infections, improve antibiotic stewardship and quickly determine the optimal antibiotic therapy for critical bacterial infections. The company’s innovative and proprietary Smarticles™ technology harnesses the power of biology to enable homogeneous assays that rapidly measure bacterial drug resistance without the need for enrichment, culture, or sample preparation.
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