PrivateFounded 2021🇺🇸Wilmington, Delaware (R&D in Beijing via affiliate Helixon Therapeutics)CEO Jian Peng
Earendil Labs is an AI-driven biologics company designing antibodies, bispecifics, T-cell engagers and antibody-drug conjugates for autoimmune disease and cancer.
Latest update Oct 7, 2026
01
Computational biologist Jian Peng founded the group in 2021 as Helixon Therapeutics in Beijing, incubated at Tsinghua's Institute for AI Industry Research; Earendil Labs is the Delaware-incorporated overseas entity, with Peng as CEO and antibody veteran Zhenping Zhu as president and co-CEO. Its protein-AI stack, which includes OmegaFold, a 2022 single-sequence structure predictor from Peng's Helixon team, feeds a pipeline the company says has produced more than 40 programs, 19 of them listed on its website. Lead internal asset HXN-1001, a half-life extended anti-TL1A monoclonal antibody for inflammatory bowel disease, completed Australian Phase 1 healthy-volunteer enrollment and dosed its first ulcerative colitis patient in a randomized, placebo-controlled Phase IIa trial on April 2, 2026, with an about 8-week half-life at projected therapeutic doses. A second internal asset, biparatopic TSLP antibody HXN-1011, completed first-cohort Phase 1 dosing on May 18, 2026. Sanofi licensed bispecifics HXN-1002 (TL1A/α4β7) and HXN-1003 (TL1A/IL-23p19) in April 2025 for $125 million upfront plus up to $1.72 billion in milestones, then signed a broader discovery collaboration in January 2026 worth up to $2.56 billion including $160 million in upfront and near-term payments. In March 2026 Earendil raised $787 million from Dimension Capital, DST Global, INCE Capital, Luminous Ventures, Miracle Capital, Sanofi and the Hillhouse/Pfizer Biotech Development Fund. Bloomberg reported in March 2026 that it was working with CICC and Morgan Stanley on a Hong Kong IPO that might raise as much as $500 million; the Wall Street Journal wrote on August 5, 2026 that Chinese regulators had raised concerns over its red-chip holding structure on a raise of close to $400 million at about a $5 billion valuation. No approved drugs, and no Phase IIa efficacy data, have been disclosed as of September 18, 2026.
prnewswire.comUpdated Sep 18, 2026
Analysis · 6 min read · Sep 18, 2026The long view on Earendil Labs: strategy, technology and what to watch02
2026-2027
HXN-1011 completed first-cohort Phase 1 dosing on May 18, 2026; remaining cohorts, PK and a patient-study decision are the next disclosed work. The March 2026 raise promised multiple IND submissions in 2026 and 2027. None of those additional INDs has been announced as accepted.
2026-2027
Target2026-2027 (at risk)
Bloomberg reported a CICC and Morgan Stanley-advised Hong Kong listing of up to $500 million in March 2026. The Wall Street Journal reported on August 5, 2026 that Chinese regulators had objected to the red-chip holding structure on a close-to-$400 million raise at about a $5 billion valuation. Watch for a refiled application, a restructuring, a prospectus, or a decision to stay private on the $787 million.
2027
Target2027 (no official window)
The randomized, placebo-controlled Phase IIa study that dosed its first patient on April 2, 2026 is the first test of whether HXN-1001 does anything in patients, not just healthy volunteers. No completion date, trial ID or primary-endpoint window has been disclosed. Watch for an efficacy and safety table, a Crohn's protocol, and whether the 8-week half-life holds in diseased patients.
Not disclosed
The April 2025 license put two bispecifics in Sanofi's hands. As of September 18, 2026 Sanofi has not announced a first-in-human study for either asset. A posted trial, an IND, or a Sanofi pipeline listing is the next hard signal that the first deal is more than an upfront payment.
Not disclosed
03
Earendil Labs said on September 24 it will lead discovery through early clinical development of multiple oncology bispecific antibodies for Genentech, which then takes global development and commercialization. Earendil gets $55 million upfront and is eligible for development, regulatory and sales milestones that could take the collaboration above $1.5 billion, plus tiered royalties; the deal is subject to customary closing and does not name the target combinations. Fierce Biotech reported the same economics on September 25 and confirmed the programs remain undisclosed.
04
Earendil's foundational protein-AI stack for antibody sequence design, structure and epitope prediction, biophysical-property scoring and closed-loop optimization, paired with high-throughput wet-lab validation. The public scientific ancestor is OmegaFold, Helixon's 2022 single-sequence structure predictor.
A half-life extended anti-TL1A monoclonal antibody for inflammatory bowel disease, including ulcerative colitis and Crohn's disease, formulated at high protein concentration for subcutaneous injection.
Two bispecific antibodies licensed exclusively to Sanofi for autoimmune and inflammatory bowel disease. HXN-1002 targets α4β7 and TL1A for moderate-to-severe ulcerative colitis and Crohn's disease. HXN-1003 targets TL1A and IL-23 and has shown synergistic activity in preclinical colitis and skin-inflammation models.
A recombinant humanized biparatopic antibody against two epitopes on TSLP that is designed to block both units of the heterodimeric TSLP receptor (TSLPR/CRLF2 and IL-7Rα). High-concentration subcutaneous formulation. Aimed at asthma, COPD and other TSLP-driven inflammatory diseases.
A preclinical oncology set listed on Earendil's pipeline page: CDH17 dual-payload ADC (HXN-2001), CEACAM5/CDH17 TCE and ADC, GUCY2C TCE, DLL3 TCE and dual-payload ADC, B7-H3 ADC, TROP2/PD-L1 and EGFR/PD-L1 bispecific ADCs, and a PD-1/IL-15 fusion protein. February 2026 WuXiTecan-2 license is meant to supply payload-linkers for a subset of these ADCs.
05
US entity; Helixon Beijing affiliate also listed under 50
Near-term cash is partnership economics: $125M upfront plus a $50M near-term milestone on the April 2025 Sanofi license, and up to $160M in upfront and near-term payments on the January 2026 Sanofi discovery collaboration. Remaining biobucks on both deals are contingent. The $787M March 2026 round is equity, not revenue.
About $870M across Helixon/Earendil rounds ($10M 2021, ~$75M 2022 Series A, $787M March 2026)
company says the platform has produced 40+ programs overall
(Phase IIa ulcerative colitis, first patient April 2, 2026) and HXN-1011 (Phase 1, first cohort May 18, 2026)
About 8 weeks at projected therapeutic doses (Phase 1 healthy volunteers, company-reported)
($125M + $50M near-term + $1.72B milestones on HXN-1002/1003; up to $2.56B including $160M near-term on the January 2026 discovery pact). Most of that is unearned milestones.
Hong Kong listing discussed at about $5B valuation, raise close to $400M; CSRC had flagged the red-chip structure as of August 5, 2026. No prospectus posted.
total potential value in excess of $1.5 billion including development, regulatory and sales milestones, plus tiered royalties. Subject to customary closing. Targets undisclosed. (September 24, 2026)
Still undisclosed and still subject to customary closing as of 29 Sept 2026. Official PR, Fierce Biotech, BioSpace and American Pharmaceutical Review name no combinations. Roche's BioSpace email did not identify diseases. No later close notice found.
06
Operating status
Clinical-stage, pre-commercial
As of 4 Oct 2026 the 24 Sept Genentech oncology-bispecific collaboration still names no target combinations. The Earendil PR, Fierce Biotech and BioSpace (Roche email did not identify diseases) leave targets undisclosed. The PR still describes the transaction as subject to customary closing; no later close notice was found. Company news still tops out at July 2025 and the pipeline table still stops at Phase 1. No ClinicalTrials.gov NCT lists HXN-1001 or Earendil; NCT06999720 is a Helixon Biotechnology (Suzhou) Phase 1 healthy-volunteer study of HX15001 at Q-Pharm in Australia, not a Phase IIa ulcerative colitis listing. Two internal programs remain in the clinic (HXN-1001 Phase IIa; HXN-1011 Phase 1). The Hong Kong IPO remains at the August 2026 CSRC red-chip report.
Sanofi HXN-1002 / HXN-1003 license
Worldwide exclusive license of two IBD/autoimmune bispecifics. $125M upfront, up to $1.72B in milestones including a $50M near-term payment, plus high-single to low-double-digit royalties if the drugs are sold.
Sanofi discovery collaboration
Multi-program bispecific discovery for autoimmune and inflammatory disease. Up to $160M in upfront and near-term payments, total potential value up to $2.56B, plus royalties up to low double-digit percent. Sanofi owns development and worldwide commercialization of resulting candidates.
Internal pipeline (unpartnered)
HXN-1001, HXN-1011 and the listed oncology ADC/TCE programs remain Earendil-owned. No product revenue until a partnering event or an approval.
Genentech oncology bispecific collaboration
Research collaboration announced 24 Sept 2026: Earendil leads discovery through early clinical development on pre-agreed oncology bispecific target combinations; Genentech takes later global development and commercialization. Economics: $55 million upfront, total potential value in excess of $1.5 billion including development, regulatory and sales milestones, plus tiered royalties. As of 29 Sept 2026 the companies have not named the combinations and the PR still says the transaction is subject to customary closing.
07
How past announced dates turned out.
2/2announced dates hit on time
Advance a second internal program into the clinic in 2026
Target 2026 · Resolved May 18, 2026
The March 2026 financing release promised multiple IND submissions in 2026 and 2027. On May 18, 2026 Earendil completed first-cohort Phase 1 dosing of HXN-1011, a biparatopic TSLP antibody, putting a second wholly owned program into human studies.
Start HXN-1001 Phase 2 development
Target 2026 · Resolved Apr 2, 2026
The March 20, 2026 financing release called HXN-1001 Phase 2-ready. On April 2, 2026 Earendil dosed the first ulcerative colitis patient in a Phase IIa trial and completed Australian Phase 1 enrollment.
08
2026
Genentech oncology bispecific collaboration, $55M upfront
On September 24, 2026 Earendil announced a research collaboration with Genentech for multiple oncology bispecific antibody programs. Earendil leads discovery through early clinical development on pre-agreed target combinations; Genentech takes subsequent global development and commercialization. Economics: $55 million upfront, total potential value in excess of $1.5 billion including development, regulatory and sales milestones, plus tiered royalties. The transaction is subject to customary closing; neither company disclosed the targets. Fierce Biotech independently reported the same terms on September 25.
WSJ: CSRC flags red-chip structure on Hong Kong IPO
On August 5, 2026 the Wall Street Journal reports that Earendil is planning to raise close to $400 million in a Hong Kong IPO at about a $5 billion valuation, and that Chinese regulators have raised concerns over its red-chip holding structure after the company submitted its application. No prospectus or listing date has been published as of September 18, 2026.
HXN-1011 Phase 1 first cohort dosed
On May 18, 2026 Earendil completes cohort 1 dosing in a Phase 1 study of HXN-1011, a biparatopic TSLP antibody designed to block both TSLPR/CRLF2 and IL-7Rα, formulated for subcutaneous injection and aimed at asthma, atopic dermatitis, eosinophilic esophagitis, chronic rhinosinusitis with nasal polyps and COPD.
HXN-1001 Phase IIa ulcerative colitis, first patient dosed
On April 2, 2026 Earendil doses the first ulcerative colitis patient in a randomized, placebo-controlled Phase IIa study of HXN-1001 and completes Phase 1 healthy-volunteer enrollment in Australia. Zhu reports an about 8-week half-life at projected therapeutic doses, single doses up to 1,200 mg and multiple doses of 450 mg well tolerated, with low anti-drug-antibody incidence.
$787M financing; Hong Kong IPO talk begins
On March 20, 2026 Earendil announces $787 million in financing from Dimension Capital, DST Global, INCE Capital, Luminous Ventures, Miracle Capital, Sanofi and the Biotech Development Fund created by Hillhouse and Pfizer. Bloomberg had reported a week earlier that Earendil was working with CICC and Morgan Stanley on a Hong Kong IPO that might raise as much as $500 million.
WuXi Biologics manufacturing alliance
On March 12, 2026 Earendil and WuXi Biologics sign a strategic collaboration for end-to-end development and GMP manufacturing of multiple bispecific, multispecific and ADC candidates in Earendil's autoimmune and oncology pipeline, including cell-line, process, formulation and drug-product work.
WuXi XDC payload-linker license, up to $885M
On February 27, 2026 WuXi XDC grants Earendil an exclusive global license to its WuXiTecan-2 payload-linker for multiple specific targets, and will support CMC and manufacturing of the resulting ADC components. Potential deal value is about $885 million in upfront, development, regulatory and sales milestones, plus tiered royalties. Earendil leads later-stage development, filings and commercialization.
Second Sanofi collaboration, up to $2.56B
On January 5, 2026 Earendil and Sanofi expand the relationship into a multi-program discovery collaboration. Earendil applies its platform to multiple autoimmune and inflammatory bispecific programs; Sanofi leads development and worldwide commercialization. Economics: up to $160 million in upfront and near-term payments, total potential value up to $2.56 billion, plus tiered royalties up to low double-digit percent.
2025
On July 10, 2025 Earendil announces that cohort 1 of a Phase 1 healthy-volunteer study of HXN-1001, a half-life extended anti-TL1A antibody, has been dosed in Australia. Peng calls it the point at which Earendil becomes a clinical-stage company.
Sanofi licenses HXN-1002 and HXN-1003 for up to $1.85B
On April 17, 2025 Earendil and Sanofi announce a worldwide exclusive license to two bispecific antibodies for autoimmune and inflammatory bowel disease: HXN-1002 (α4β7 and TL1A) and HXN-1003 (TL1A and IL-23). Earendil receives $125 million upfront, is eligible for up to $1.72 billion in development and commercial milestones including a $50 million near-term payment, and tiered royalties from the high-single to low-double digits.
2024
2023
2022
OmegaFold preprint and ~CNY 500M Series A
On July 21, 2022 Helixon posts OmegaFold, a single-sequence protein structure predictor, on bioRxiv and later open-sources the code. In June 2022 it closes a Series A of nearly CNY 500 million (about $75 million) led by 5Y Capital, with Gaorong Capital, Neumann Capital, Xianghe Capital, Hillhouse Ventures and Qingzhi Capital participating.
2021
Helixon Therapeutics founded in Beijing
Jian Peng founds Helixon Therapeutics (华深智药) in June 2021, incubated at Tsinghua University's Institute for AI Industry Research, to build an AI scientific-computing platform for protein therapeutics. Dealroom records an about $10 million early round in October 2021 from Hillhouse, Xianghe Capital and Qingzhi Capital.
09
$872Mdisclosed across 3 rounds with a stated amount
Cumulative disclosed raise · dated rounds
Early VC / angel (Helixon)
Oct 2021
Hillhouse Capital, Xianghe Capital, Qingzhi Capital
Series A (Helixon)
Jun 2022
5Y Capital (lead), Gaorong Capital, Neumann Capital, Xianghe Capital, Hillhouse Ventures, Qingzhi Capital
Later-stage private financing
Mar 2026
Dimension Capital, DST Global, INCE Capital, Luminous Ventures, Miracle Capital, Sanofi, Biotech Development Fund (Hillhouse and Pfizer), and other existing and new investors
