Decheng Capital — Full Portfolio

GRAIL develops the Galleri blood test for multi-cancer early detection using next-generation sequencing and machine learning to screen for multiple deadly cancer types before symptoms appear.

AI & Machine LearningBiotechHealthtechMedical DevicesMenlo Park, US

Jeffrey T. Huber(Director)JOJoshua Ofman, MD, MSHS(Chief Executive Officer)inAFAaron Freidin(Executive Officer)inJOJosh Ofman(Executive Officer)inRobert Ragusa(Executive Officer, Director)JCJennifer Cook(Executive Officer, Director)in

Board seatMCMin Cui· per SEC Form D

Co-investorsAMAmino CapitalARARCH Venture PartnersBEBezos ExpeditionsBLBluebird VenturesDEDentsu VenturesFEFelicis Ventures+8 more

Aadi Bioscience develops therapies targeting mTOR-driven diseases using precision medicine and albumin-bound nanoparticle technology, applying genomic profiling to identify patients most likely to benefit from mTOR inhibition.

BiotechHealthtechMorristown, US

Scott Giacobello(Executive Officer)inBryan Ball(Executive Officer)DLDave Lennon(Executive Officer, Director)inDDDavid Dornan(Executive Officer)James Murphy(Executive Officer)Stephen Pakola(Executive Officer)

Co-investors3B3B Future Health FundALAlly Bridge GroupVIVivo CapitalAVAvoro VenturesOROrbiMed

Adaptive Biotechnologies applies the genetics of the adaptive immune system to diagnostics and therapeutics, translating immune-system data into clinical insights for clinicians and biopharma companies.

AI & Machine LearningBiotechDigital HealthHealthtechMedical DevicesSeattle, US

CRChad Robins(Executive Officer, Director)inHRHarlan Robins(Executive Officer)inKDKathleen Determann(Executive Officer)inDean Schorno(Executive Officer)inChris Carlson(Executive Officer)KPKyle Piskel(Chief Financial Officer)in

Co-investorsFMFMG CapitalFOForesite CapitalKHKhosla VenturesOROrbiMed

CG Oncology develops an investigational oncolytic immunotherapy for urologic cancer patients, specifically targeting BCG-unresponsive non-muscle invasive bladder cancer.

BiotechHealthtechMedical Devices

AKArthur Kuan(Chairman and Chief Executive Officer)in

Co-investorsFOForesite CapitalLOLongitude CapitalPAPalm Drive CapitalRARA CapitalTCTCG CrossoverACACORN BIOVENTURES+2 more

Health Catalyst provides a data platform, analytics applications, and AI-powered insights that help healthcare organizations improve clinical, financial, and operational performance.

AI & Machine LearningData & InfrastructureDigital Health

Benjamin Albert(Chief Executive Officer and Director)JAJason Alger(Chief Financial Officer)inLinda Llewelyn(Chief People Officer)

Co-investorsEPEPIC VENTURESFIFifty YearsKAKaiser Permanente VenturesNONorwest Venture PartnersOSOSF VenturesTETenaya Capital+2 more

Nuvation Bio is a global oncology company that develops novel cancer therapies through its own drug discovery programs and business development, serving cancer patients.

BiotechHealthtechNew York, US

DHDavid Hung(Founder)inDHDavid Hung, M.D.(Executive Officer, Director)inDavid Hanley(Chief Technical Operations Officer)inGHGary Hattersley(Chief Scientific Officer)inSMStacy Markel(Chief People Officer)inPSPhilippe Sauvage(Chief Financial Officer)in

Co-investorsAIAisling CapitalECEcoR1 CapitalVEVertex Ventures ChinaOMOmega Funds

SCYNEXIS develops fungerp-based antifungal therapies, including SCY-247, for treating and preventing severe, progressive, and often fatal fungal diseases and antimicrobial-resistant infections.

BiotechDurham, US

Yves J. Ribeill(Executive Officer, Director)inCharles F. Osborne, Jr.(Executive Officer)Brian Schwab(Executive Officer)inDADavid Angulo(Chief Executive Officer, President and Director)in

BoardLaurent Arthaud(Director)Mounia Chaoui(Director)

Co-investorsFOForesite CapitalDEDeerfield Management CompanyRARA Capital

Upstream Bio is a biotechnology company that sponsors clinical trials to develop products under investigation.

BiotechHealthtechWaltham, US

Rand Sutherland(Chief Executive Officer)inAAAllison Ambrose(General Counsel)inADAaron Deykin(Chief Medical Officer & Head of R&D)inMike Gray(Chief Financial Officer and Chief Operating Officer)AHAdam Houghton(Chief Business Officer)inStacy Price(Chief Technology Officer)in

Co-investorsOROrbiMedACAccess IndustriesACAccess BiotechnologyBABain Capital Life SciencesSASamsara BioCapitalTCTCG Crossover+2 more

Imviva is a clinical-stage biotechnology company developing allogeneic CAR-T cell therapies for oncology and autoimmune diseases.

BiotechDeep TechHealthtechMedical Devices

Jiangtao Ren(Chief Scientific Officer)Lu Han(Chief Executive Officer)Yajin Ni(Chief Technology Officer)Jan Davidson(Chief Medical Officer)

Co-investorsGLGL VenturesHIHillhouse CapitalSHShenzhen Capital Group

Cellares develops automated manufacturing systems and technology platforms to accelerate the production and commercialization of cell therapies.

Advanced ManufacturingBiotechMedical DevicesSouth San Francisco, US

FGFabian Gerlinghaus(Co-Founder and Chief Executive Officer)inOKOmar Kurdi(Co-Founder and President)in

BoardJBJustin Butler(Director)inVTVictor Tong(Director)in

Co-investors8V8VCECEcoR1 CapitalINIntuitive VenturesKOKoch Disruptive TechnologiesBABaillie GiffordBLBlackRock+4 more

Solve Therapeutics is a clinical-stage oncology biotech developing antibody-drug conjugates (ADCs) and radiopharmaceuticals for solid tumors, built around its CloakLink hydrophilic cleavable linker platform and an integrated diagnostic for patient selection.

BiotechDeep TechHealthtech

David Johnson(Chief Executive Officer)Clayton Knox(President)KJKatti Jessen(SVP, Translational Sciences)Yakov Kogan(Head of Operations)BLBrian Lannutti(Research & Development Leadership)Langdon Miller(Clinical Development Leadership)

Co-investorsMAMatrix Capital ManagementYOYosemiteB B Capital GroupB4B4 Capital

A clinical-stage biotechnology company developing allogeneic CAR-T cell therapies for oncology and autoimmune diseases, targeting off-the-shelf and scalable treatments to improve patient access.

BiotechHealthtechMedical Devices

Lu Han(Chief Executive Officer)Jiangtao Ren(Chief Scientific Officer)Yajin Ni(Chief Technology Officer)

Co-investors7G7G BioVentures

Lynk Pharma develops pharmaceutical products for rheumatoid arthritis and ankylosing spondylitis, with selective licensing arrangements for regional commercialization.

AI & Machine LearningBiotechDeep TechHealthtechMedical DevicesHangzhou, CN

Zhao-Kui (ZK) Wan(Founder, Chairman of Board & CEO)MVMichael Vazquez(Co-founder & Executive Vice President)inJWJun Wang(Co-founder & CSO)inYan Chen(Co-founder & COO)in

Co-investorsLALAVLILilly Asia Ventures

AI & Machine LearningBiotechDigital HealthHealthtech

Co-investorsSASamsara BioCapitalVEvenBio Partners

Adela develops blood-based tests for cancer detection using epigenetics and liquid biopsy technology, aimed at helping patients and clinicians detect and act on cancer earlier.

BiotechDigital HealthHealthtechMedical DevicesFoster City, US

Daniel Diniz De Carvalho(Executive Officer, Promoter)SBScott Bratman(Executive Officer, Director)inAHAnne-Renee Hartman(Founder)inAWAlan Williams(Executive Officer)inLisa Alderson(Executive Officer, Director)inPriscilla Huang(Executive Officer)in

Co-investorsF-F-Prime CapitalOROrbiMedDEDeerfield Management CompanyMEMenlo Ventures

AK Medical is a company providing investor and corporate information, headquartered in Beijing with a principal place of business in Hong Kong.

Advanced ManufacturingHardwareHealthtechMedical DevicesBeijing, CN

Co-investorsOROrbiMed

A biopharmaceutical company (Ipsen, following its acquisition of Albireo Pharma) developing and commercializing medicines in oncology, rare diseases, and neuroscience for patients with high unmet medical needs.

BiotechHealthtech

Co-investorsHEHEALTHCARE ROYALTY PARTNERS

BiotechSeattle, US

Mitchell Gold(Executive Chairman and Chief Executive Officer)inMichael Kornacker(Executive Officer, Director)inRyan Swanson(Executive Officer, Director)inDavid Miller(Executive Officer, Director)inJPJames Paul Rickey(Senior Vice President and Chief Financial Officer)Mark James Litton(President and Chief Operating Officer)

Co-investorsFRFrazier Life SciencesBIBiotechnology Value FundOROrbiMed

Biopharma, acquired by Nuvation Bio (葆元医药)

Co-investorsCECenova CapitalVEVertex Ventures China

Antengene is a biopharmaceutical company that develops therapies for cancer, with a pipeline focused on hematologic malignancies and solid tumors including Claudin 18.2, CD73, PD-L1/4-1BB bispecific, and CD24-targeting candidates.

BiotechHealthtech

Co-investorsQIQiming Venture PartnersBOBoyu Capital

Arcus Biosciences develops combination cancer therapies, producing small molecules and antibodies designed to be combined and advanced from Phase 1 studies through commercialization.

Biotech

Juan Jaen(Founder)in

Co-investorsAIAisling CapitalDRDroia VenturesECEcoR1 CapitalFOForesite CapitalSLSLVCSOSofinnova Ventures+2 more

Ark Biosciences is a biopharmaceutical company developing small molecule drugs for infectious diseases, respiratory conditions, neuropsychiatric disorders, and rare diseases.

BiotechDigital HealthHealthtechMedical DevicesShanghai, CN

Co-investorsQIQiming Venture Partners

BC Foods manufactures and supplies dehydrated vegetable, herb, spice, fruit, and specialty ingredients for food manufacturers, snack companies, and pet food producers.

Advanced ManufacturingAgTechFoodTechCalifornia, US

Beyond Spring Pharmaceuticals develops Plinabulin, a brain-penetrant immune modulator that activates dendritic cells through a differentiated tubulin-binding mechanism, intended to enhance antigen presentation and T cell activation for select tumor types.

BiotechHealthtechMedical Devices

Co-investorsSASangel Capital

CSClint Sever(Founder)in

Co-investorsACACME CapitalDADarwin CapitalDEDentsu VenturesFOForesite CapitalPRPrime PartnersCACAVU Consumer Partners+1 more

San Diego protein-sequencing company behind the ProteoCode platform; ceased operations in late 2025.

Co-investorsARARCH Venture PartnersALAlexandriaDEDeerfield Management CompanyGVGV (Google Ventures)NANan Fung Life SciencesNONorthpond Ventures

Epimab Biotherapeutics is a clinical-stage biopharmaceutical company specializing in the development of bispecific antibodies using proprietary technology platforms including FIT-Ig® and MAT-Fab.

BiotechHealthtechMedical DevicesShanghai, CN

Wu Chenbing(Founder/Expert)

Co-investorsSHShangBay Capital LLCTCTCG Labs3E3E Bioventures CapitalSHSherpa Healthcare Partners

Firefly Bio develops antibody-drug conjugates (ADCs) that use novel classes of payloads, drawing on a research team experienced in ADC discovery and development.

BiotechHealthtechMedical Devices

Scott Hirsch(CEO)inDan Kaplan(CSO)

Co-investorsMPMPM BioImpact

BiotechRedwood City, US

HEHesaam Esfandyarpour(Executive Officer, Director)inFred Nazem(Director)Frank Witney(Director)Rakesh Sachdev(Director)Hamid Moghadam(Director)Laurent Bellon(Executive Officer)

Co-investorsIPIPV Capital

Grit Bio develops nine core technology platforms for cell therapy manufacturing and development, spanning TIL expansion, viral vector production, immunological target discovery, and LNP delivery systems for therapeutic applications.

AI & Machine LearningBiotechDeep TechDigital HealthHealthtechMedical DevicesBeijing, CN

刘雅容(Founder, Chairman & Chief Executive Officer)

Co-investorsB B Capital GroupB4B4 Capital

Harton Therapeutics offers a GMP-ready platform for advanced 3D cell manufacturing, using a perfusion-based single-use cartridge system with automated process control to produce human cells at scale.

Advanced ManufacturingBiotechMedical Devices

Humi was a Canadian HR, payroll, and benefits software platform designed for small and medium-sized businesses in Canada.

AI & Machine LearningEnterprise SoftwareFintechHR TechSaaSToronto, CA

KKKevin Kliman(Founder/CEO)inMLMatt Loszak(Founder/CTO)inDrew MillingtoninSBSimon Bourgeois(Founder)in

Co-investors50500 Global7B7BC Venture CapitalAMAmplify.LACHChartline Capital PartnersFUFundersClubGAGarage Capital+5 more

Hummingbird Bioscience is a precision biotherapeutics company developing a pipeline of novel targeted therapies for cancer, using proprietary drug discovery technologies and platforms.

AI & Machine LearningBiotechDeep TechHealthtech

PIPiers Ingram(Chief Executive Officer, Co-Founder, Executive Director)inJBJerome Boyd-Kirkup(Chief Scientific Officer, Co-Founder)inKonrad Paszkiewicz(Chief Technology Officer)inKwek Kon Yew(Chief Medical Officer)Dipti Thakkar(Chief Operating Officer)in

Co-investorsALAltium CapitalCLClavystBioDRDroia VenturesFRFrazier Life SciencesKIKiwoom InvestmentMUMuirwoods Ventures+5 more

Incyte is a biopharmaceutical company that develops and commercializes medicines for oncology, hematology, dermatology, and other therapeutic areas.

BiotechHealthtechMedical DevicesWilmington, US

BMBill Meury(Chief Executive Officer)inPablo J. Cagnoni(President, Incyte and Global Head of R&D)in

Insight-Med is a medtech company developing interventional cardiovascular devices, including a domestic fractional flow reserve (FFR) system approved by China's NMPA and an intravascular ultrasound (IVUS) system for precision diagnosis and treatment of cardiovascular diseases.

HealthtechMedical DevicesShenzhen, CN

Co-investorsHOHongShan Capital GroupQIQiming Venture Partners

Invitae provides genetic testing services to patients and clinicians across the United States, offering broad test offerings and genetic counseling to inform health decisions at every stage of life.

BiotechDigital HealthHealthtechMedical DevicesSan Francisco, US

SGSean George(Executive Officer, Director)inRandal Scott(Executive Officer, Director)SGShelly Guyer(Executive Officer)inLBLee Bendekgey(Executive Officer)inGeoffrey Crouse(Director)

BoardEAEric Aguiar(Director)in

Co-investorsCICivilization Ventures Management, LlcFIFifty YearsMAManta Ray VenturesOBOberland CapitalPRPrefix CapitalTETech Wildcatters+1 more

A biopharmaceutical company developing targeted cancer drugs and related therapies.

BiotechHealthtechMedical DevicesShanghai, CN

Co-investorsQIQiming Venture PartnersLILilly Asia Ventures

LevitasBio develops label-free cell isolation and analysis technology for life science researchers, enabling higher-quality cell sample preparation without introducing bias or gene expression modifications.

BiotechDeep TechHardwareMedical Devices

Dr. Gozde Durmus(Co-founder)Dr. Utkan Demirci(Co-founder)Dr. Lars Steinmetz(Co-founder)

Co-investorsNONovalis LifeSciences

Mammoth Bio develops technology to read and write the code of life, operating in the biotechnology sector.

BiotechDeep TechMedical DevicesBrisbane, US

JDJennifer Doudna(Founder)inTMTrevor Martin(Co-founder, Chief Executive Officer)inJCJanice Chen(Co-founder, Chief Scientific Officer & President, Research)inLHLucas Harrington(Co-founder)inATAshley Tehranchi(Executive Officer, Director)in

BoardUrshit Parikh(Director)

Co-investors8V8VCBEBerkeley FrontierCACALIFORNIA INNOVATIONFOForesite CapitalMAMayfield FundMIMission Bay Capital+9 more

Xtremity makes the XtremityTT, a thermoformable definitive prosthetic socket system built from an injection-molded, carbon-reinforced polymer preform that clinicians can heat, form, and assemble in about an hour and re-adjust via spot-heating.

HardwareHealthtechMedical DevicesNew MaterialsAspen, US

MJMark Joseph(Founder / Inventor & Product Designer)Miguelangel Sosa(Executive Officer, Director)Amy Hill(Executive Officer)Scott Ward(Executive Officer)

Co-investorsARARCH Venture PartnersRSRsquared

Mirvie develops an RNA-based platform for early detection of pregnancy complications, enabling proactive intervention before complications become critical.

BiotechFemTechHealthtechSouth San Francisco, US

MJManeesh Jain(Executive Officer, Director, Promoter)inSQStephen Quake(Director)

BoardLisa Iverson(Director)UPUrsheet Parikh(Director)inMCMin Cui(Director)inSKSamir Kaul(Director)in

Co-investorsMAMayfield FundPOPortfoliaBLBlackRockFOForesite CapitalGEGeneral CatalystGVGV (Google Ventures)+1 more

Nalu Medical develops a non-integrated neurostimulation system that uses electrical impulses to interrupt pain signals for patients with intractable chronic nerve pain.

HardwareHealthtechMedical DevicesCarlsbad, US

EFEarl Fender(President & CEO)inLHLee Hartley(Executive Officer)inAllen Meacham(Executive Officer)inBick Sellers(Executive Officer)inThomas A. West(Executive Officer, Director)inJeffrey Swiecki(Executive Officer)

Co-investorsAPAPERTURE Venture PartnersB B Capital GroupB4B4 CapitalENEndeavour VisionLOLongitude CapitalRURunway Growth Capital+1 more

San Diego DNA sequencing company behind the Sequencing by Binding short-read platform; acquired by Pacific Biosciences in 2021.

Co-investorsARARCH Venture PartnersALALTITUDE LIFE SCIENCE VENTURESDODomain AssociatesHIHillhouse CapitalNANan Fung Life Sciences

PackGene is a global Contract Research and Manufacturing Organization (CRO/CDMO) that produces gene therapy vectors and nucleic acid therapeutics for biopharmaceutical companies and research institutions, offering services from development through GMP-grade manufacturing.

Advanced ManufacturingBiotechDeep TechHealthtechMedical DevicesHouston, US

Polares Medical is a medical device company developing a device for treating mitral valve regurgitation.

HealthtechMedical DevicesPalo Alto, US

Alex Khairkhahan(Founder)in

Co-investorsLOLongitude CapitalEAEarlybird Venture CapitalENEndeavour VisionIDIDO Investments

Remix is a platform for public transit agencies to plan, schedule, and visualize transit systems in real-time.

GovTechLogistics & Supply ChainSaaSSan Francisco, US

TCTiffany Chu(CEO & Cofounder)inSHSam Hashemi(Founder/CEO)inDGDaniel Getelman(Founder/CTO)inDWDanny Whalen(Founder)in

Co-investorsDEDesigner FundENEnergy Impact PartnersY Y CombinatorSESequoia Capital

Remix is a mobile app that allows users to remix videos by pasting video links, adding photos, and instructing the app to make edits.

ConsumerCreator EconomySan Francisco, US

SKSam Kaplan(Founder)in

Co-investorsCOCorazon CapitalY Y CombinatorENEnergy Impact PartnersSESequoia Capital

Remix provides an AI-powered management system that uses existing camera infrastructure to detect operational issues like long lines and inventory problems in real-time, then automatically routes fixes to staff with clear instructions and video evidence.

AI & Machine LearningEnterprise SoftwareFuture of WorkRetail TechPleasant Hill, US

Brandon Yowakim(Founder)inHenry Palmer(Founder)in

Co-investorsTETechstarsENEnergy Impact PartnersSESequoia Capital

Remix Therapeutics develops RNA reprogramming technology to treat various diseases and disorders.

AI & Machine LearningBiotechWatertown, US

Peter Smith, PhD(Co-Founder, President and Chief Executive Officer)Peter Smith(Co-Founder, President and Chief Executive Officer)inRobert Gagnon(Executive Officer)HWHeather Wasserman(Executive Officer)inMPMatthew Patterson(Director)inSBScott Biller(Director)in

Co-investorsATAtlas VentureFOForesite CapitalTHThe Column GroupARARCH Venture Partners

ShapeTX develops programmable RNA medicines by combining artificial intelligence with RNA technology to address genetic causes of disease.

AI & Machine LearningBiotechDeep Tech

JVJosef von Rickenbach, PhD(Co-Founder)in

Co-investorsNENew Enterprise Associates (NEA)MIMission Biocapital

Take2 Health provides early cancer detection and screening services leveraging advanced technology and medical expertise to help individuals identify cancer at early stages.

BiotechDigital HealthHealthtechMedical DevicesHong Kong, HK

Terns Pharmaceuticals is a biopharmaceutical company developing therapies, including its TERN-701 program.

BiotechHealthtechFoster City, US

Mark Vignola, Ph.D.(Executive Officer)Bryan Yoon(Executive Officer)inSenthil Sundaram(Director, Executive Officer)inWeidong Zhong, Ph.D.(Executive Officer, Director)Jill Quigley(Director)inDavid Fellows(Director)

Co-investorsLALAVLILilly Asia VenturesVIVivo Capital

VintaBio provides viral vector manufacturing for clinical and commercial gene therapies, using a single-stream process (VintaProcess) to produce high-yield, high-purity vectors.

BiotechDeep TechHealthtech

Vivo offers live, small-group fitness classes led by certified trainers over Zoom, combining strength training with cognitive exercises for older adults who work out from home.

Digital HealthHealthtechHR TechLongevityWellness & FitnessAtlanta, US

Eric(Founder, CEO)

BoardKendric Speagle(Director)

Co-investorsFLFlare Capital PartnersTETechstars

Watchmaker Genomics develops and manufactures purpose-designed enzymes, reagents, and workflows for molecular biology and genomics applications, including inherited disease, somatic oncology, transcriptomics, and epigenomics research.

BiotechDeep TechHealthtechMedical DevicesBoulder, US

John Foskett(Executive Officer, Director, Promoter)BDBrian Deneau(Chief Operating and Finance Officer)inSPStephen Picone(Chief Strategic Officer)inBKBrian Kudlow(Chief Scientific Officer)inTFTrey Foskett(Chief Executive Officer)inKSKerri Stellato(Chief Commercial Officer)in

Co-investorsECEclipse Ventures

YolTech Therapeutics develops in vivo gene editing medicines using a proprietary lipid nanoparticle delivery platform to treat genetic, metabolic, and autoimmune diseases.

AI & Machine LearningBiotechDeep TechHealthtechMedical Devices

Dr. Yuxuan Wu(Co-founder & CEO)

Zentalis is a biopharmaceutical company developing azenosertib and other pipeline assets, seeking strategic partnerships to advance drug development and expand market reach globally.

BiotechHealthtechMedical Devices

JEJulie Eastland(Chief Executive Officer and Director)in

BoardScott Myers(Chairperson)

Co-investorsHIHighlight Capital