Jixing is a biopharmaceutical company with clinical-stage projects that aims to bring innovative medicines to patients in China with serious and life-threatening diseases. Jixing was founded and has been funded by RTW. Under the terms of the collaboration, Bayer will have the right of first negotiation for the commercialization of Jixing's pipeline products in the areas of cardiovascular disease and ophthalmology.

“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, 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.”

The collaboration will leverage Bayer's extensive experience in cardiovascular and ophthalmology as well as its strong presence in China. A joint portfolio strategy committee of Bayer and Jixing will explore potential additional business development opportunities. Xiaolan Zhou, member of the Executive Committee of Bayer's Pharmaceuticals Division, Head of Bayer Pharmaceuticals China and Head of Bayer Greater China, will also join Jixing's Board of Directors.

“JixingI 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.”