ReLive Biotechnologies, Ltd. completes Co.Don AG asset purchase and Series A funding led by SHC, furthering its ambition to become a global leader in regenerative therapies

NANJING, China, Jan. 25, 2023 /PRNewswire/ — As the tissue engineering and regenerative treatment industry has shown tremendous potential in clinical practice in recent years across the world, China’s blue ocean market welcomes Welcome to the first wave of acquisitions.

ReLive Biotechnologies, Ltd. (“ReLive” or “Company”, a leading company in the industry, announces that it has completed the acquisition of all operating assets of the German-listed biotechnology company Co. Don AG (CNW.DF) (“Acquisition”), assuming global patent rights to its flagship products “Spherox” and “Chondrosphere”. “Spherox” is one of only two authorized cellular therapies for the regenerative treatment of articular cartilage defects worldwide. It was authorized by the European Medicines Agency (EMA) for distribution across Europe in 2017.

Concurrent with the Acquisition, ReLive also completed its Series A (“Series A”) financing of $36 million to fund the company’s global ambition. ReLive plans to use the fund for R&D, licensing, manufacturing, distribution and other operational needs in China, the US and Europe.

Series A was led by Shanghai Healthcare Capital (SHC), with contributions from two existing angel investors, Indaco Capital and Jiuyo Capital, and a new associate Watson Capital. G&G Capital acts as exclusive financial advisor.

In addition to equity funding, SHC is expected to support ReLive in both research innovation and commercialization with its robust industry resources. Backed by Shanghai Industrial Investment (Holdings) Co., Ltd (SIIC), Shanghai Pharma and other key players in the healthcare ecosystem, SHC is able to connect ReLive with research institutes, clinical institutions, industrial parks and the entire supply chain. medical supplies.

“ReLive’s acquisition of Co.Don AG will underpin ReLive’s multiple R&D projects in universal cell therapies for cartilage treatments. It also marks one of ReLive’s internationalization efforts, as the company aims to build a truly global platform for regenerative medicine .” said Dr. Zhao, Founder, President and CEO of ReLive.

He added that ReLive will independently research and develop cost-effective tissue engineering products based on a combination of stem cell technology and scaffold 3D printing, targeting hyaline cartilage, osteocartilage, meniscus treatments in orthopedics and sports medicine and reconstruction. of the external ear in plastic surgery.

Acquisition and Financing Drive ReLive’s Growth Plan

ReLive is a leading tissue engineering and regenerative care company with global aspirations. Founded by Dr. Zhao in 2021, the company aims to address unmet clinical needs in the regenerative treatment market globally as it develops pioneering products in the field of orthopedic sports medicine and reconstructive surgery. The company will also focus on independent R&D and the procurement of licensed products and world-class manufacturing and quality control facilities.

“Spherox” is one of only two regulatory-approved cellular therapies for the regenerative treatment of articular cartilage. Authorized by the European Medicines Agency for distribution across Europe (including EU, UK, Switzerland, etc.), the therapy has benefited over 17,000 patients with sufficient evidence of efficacy and safety.

By taking over 100% of Co.Don AG’s core assets through its subsidiary in Germany, ReLive acquires the global patent rights to Spherox, industry-leading manufacturing facilities that meet “Good Manufacturing Practice” (GMP) standards at two locations in Germany, and facilities and quality control systems. With global patent rights and distribution rights in Europe, the acquisition marks a breakthrough on the global stage for ReLive.

“Co.Don AG has the best ‘GMP’ commercial production quality control system in the world and the world’s leading fully automated production lines. We believe the CMC system and product line will underpin ReLive’s universal upgrade of cellular therapies. for cartilage treatments. ReLive will also introduce the CMC system in China and the US to support the company’s global operations,” said Dr. Zhao.

May Liang, partner of SHC, said, “The number of patients with osteoarthritis has exceeded 400 million worldwide, and the incidence rate is over 50% for people over 60 years of age. Regenerative therapy is one of the ways most effective and vital ways of treating cartilage defects. SHC will pay continued attention to innovations in the area.”

“ReLive, through this acquisition, not only has the most advanced regenerative technology in the world, but has also grown with the best global model. We look forward to supporting ReLive to become the leading global platform for cellular therapy.” she added.

“Meanwhile, SHC is actively pursuing offshore advanced biotechnology targets for its planned dollar fund offshore assets to build a ‘global investment ecosystem’.”

SHC’s investment in ReLive aligns with Shanghai’s ambition to establish an innovative biotech hub with international influence. In 2022, Shanghai launched a three-year action plan to boost Shanghai’s cell therapy and accelerate industrial innovation between 2022 and 2024, aiming to increase the scale of cell therapy to 10 billion yuan by 2024. SHC will explore “the array of governments, industry, academia, research, care and capital” to support the research and development of the world’s most advanced cell therapy and benefit more patients.

more to come

This acquisition marks just the beginning of ReLive’s global expansion.

In the future, ReLive will build on the strengths of the US, Europe and China. ReLive will locate R&D in Boston, the world’s most advanced biotechnology hub, continue global manufacturing and distribution of existing products in Germany, and focus on product listing and distribution in the US and China. In addition, ReLive will actively pursue strategic partnerships for technology transfer and licensing opportunities in ASEAN, South America, the Middle East, Mexico and Japan to continually expand the market globally.

In China, ReLive has completed construction of a production facility for Spherox’s, and the company plans to quickly undertake the necessary interim clinical trials before launching China’s first approved cell therapy for cartilage repair.

In other markets such as Singapore and Hong Kong, ReLive can go the accelerated pre-submission phase evaluation route for Spherox as it has already been approved by the EMA, one of the comparable international regulators of the Health Sciences Authority (HSA) . ReLive submitted the listing application to the HSA. ReLive is also preparing for similar submission to the US FDA.

Manufacturing laboratory and quality control in compliance with GMP standards

ReLive’s ambition is supported by a team of scholars and industry professionals.

The company’s founder, Dr. Zhao, is an experienced scientist who completed his Ph.D. and postdoctoral fellows in Regenerative Medicine at Utrecht University Faculty of Medicine and Harvard Medical School. He served as Director of Research and Development and Chairman of Vericel’s Research Steering Committee when its flagship product, MACIÒ, received FDA approval in 2017.

The company’s COO, Zhang Xin, is an experienced manager and business operator in the healthcare industry, having held senior positions in several multinational medical companies and co-founded Shandong WEGO Orthopedic Device Company Limited, a top-tier orthopedic device company. in Asia and a STAR market listed company.

ReLive’s director of research and development, Dr. David Bichara, former professor of orthopedics at Harvard Medical School and director of preclinical research and development at Hyalex, a Boston-based orthopedic device company.

Tilmann Bur, formerly CEO of Co.Don AG, was also recruited by ReLive as head of the European market. Mr. Bur will play a vital role in the global commercialization of ReLive’s products with valuable experience in Europe and connections within the industry.

The company also introduced the Strategy and Science Advisory Board, comprised of world-class academics, clinical experts and industry leaders, including a Harvard Professor of Orthopedics and the Director of Sports Medicine at the Mayo Clinic.

In addition to current therapies, a universal version of cell therapy researched and developed by ReLive is in the works. The new features are more patient friendly as the new generation does not require a second surgery. This upgrade will also enable scale manufacturing.

ReLive will continue to collaborate with leading Harvard and MIT scholars and leading industry professionals to expand the company’s pipelines and innovative applications. It will focus on interdisciplinary collaboration of the most advanced cell and gene therapies and new scaffolding materials in application in Orthopedics, including hyaline articular, osteochondral and meniscal cartilage treatments, and in the area of ​​plastic and cosmetic surgery such as ear reconstructions.

The $36 million fund as a vital addition will also spur the company’s global expansion.

Dr. Zhao said, “2022 has been very difficult for fundraising due to the unprecedented challenges posed to the political and business environments. However, we managed to complete our Series A as well as Co.Don AG asset acquisition in 2022, preparing the groundwork for our global landscape and our ambition to become a leading global company in regenerative biotechnology.”

“Special thanks for the trust and support of all our investors, especially SHC as the lead investor and one of the main supporters of asset acquisition, for empowering ReLive with tremendous full capabilities. We believe ReLive will be a phenomenal success with our joint efforts ,” added Dr. Zhao.

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SOURCE ReLive Biotechnologies, Lda.

ReLive Biotechnologies, Ltd. completes Co.Don AG asset purchase and Series A funding led by SHC, furthering its ambition to become a global leader in regenerative therapies

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