Coross Biosciences completed an angel round of financing of nearly 10 million yuan to open up the domestic market of chemical proteomics

Recently, Nanjing ChomiX Biotech Co., Ltd., referred to as "Colox Bio", announced the completion of an angel round financing of nearly 10 million yuan. This round of financing is invested by Eagle Alliance Capital. This round of financing is mainly used to build the company's team and capacity, accelerate the establishment of a chemical proteomics technology platform, and develop protein chemical labeling technology and related chemical probes.

Founded in March 2021, Coross Biosciences is the first domestic biotechnology company based in the cross-field of chemical biology. With cutting-edge chemical proteomics technology as the core, the company develops three business segments. The technical service business includes antibody labeling and chemical proteomics technical services. With the popularization of multi-channel flow cytometers, the market demand for fluorescent antibodies is growing rapidly. Colostrum Biosciences has self-developed antibody labeling technology, which can realize the fixed stoichiometric labeling of natural antibodies and further improve the properties of fluorescent antibodies. At the same time, this technology will also be applied to antibody-rare-earth metal complex couplings to promote the application of mass spectrometry flow cytometry. Chemical proteomics technical services will meet the needs of university customers in proteomics-related research such as drug target identification, probe binding proteins and post-translational modifications, and promote the application of this cutting-edge cross-technology in scientific research. The high-end kit business mainly includes protein chemically labeled probes, bio-orthogonal reaction modules, and non-natural biomolecular analogs. The development of this business will not only meet the needs of the market, solve the problem of relying on imports of reagents, but also provide technical services for the company. And lay the foundation for research and development. The third-largest business segment will benchmark the international market and lay out the screening of lead compounds for covalent drugs. Fragment-based ligand discovery (FBLD) has been widely used in the identification of drug lead compounds. However, this method is usually limited to a single protein system, so its throughput is greatly limited, and the interaction between the protein and the ligand in the natural state cannot be well simulated.

Chemical proteomics technology can directly screen lead compounds in complex biological systems (cell lysates or living cells), realize simultaneous analysis of multiple targets, and revolutionize FBLD into the high-throughput era. Representative chemical proteomics companies in the United States, Vividion Therapeutics, Frontier Medicines and BridGene Biosciences, have all received well-known fund investment, and have launched strategic cooperation with drug research and development companies in the screening of covalent drug lead compounds. Colostrum Biosciences will use the self-developed chemical proteomics technology platform to expand the domestic market, make corresponding contributions in the field of new drug research and development, and provide more solutions for targeting "unable to drug" proteins.

Co-founder Chen Nan:

Thanks to Eagle Alliance Capital for the recognition and support of Colosse Bio. Chemical proteomics technology is an emerging cross-technology, and it is also the core technology of Colossi Biology. This technology uses chemical probes to perform multi-dimensional analysis of proteomics such as abundance, activity and network to help clinical diagnosis and drug targets. Promote precision medicine research in areas such as point identification and drug screening. Colostrum Biosciences has gathered the most authoritative consultant team and founding team in this field, and has strong competitiveness in terms of talents, technology and resources. We will always adhere to the concept of "talent first, technology first, customer first", and strive to become a world-renowned innovative service and R&D enterprise, and a leader in the development and application of cutting-edge chemical technologies. The completion of this financing will further support our continued investment in the field of precision medicine driven by chemical multidimensional omics, and help the company's development and team building.

He Xing, Managing Partner of Eagle Alliance Capital:

Proteomics is the core technology of life sciences. The analysis of protein molecules in biological samples is the core of understanding, diagnosis, and treatment of diseases. It has a good application prospect in the clinical diagnosis of cancer and other major diseases and the development of new drugs. Colosse Bio has a variety of strengths, the founding team has deep technical accumulation, a deep understanding of the domestic proteomics market and strong execution. At the same time, the international chemical proteomics market is booming, and there is huge untapped potential in China. We see an exciting market prospect. We believe that Coross Biosciences will also bring considerable returns to investors while creating huge market value.