MindRank (德睿智药)
Hangzhou AI small-molecule company whose oral GLP-1 agonist MDR-001 is in Phase III, with about 40 staff.
1. Core Product / Service
MindRank's registered entity, 杭州德睿智药科技有限公司, was incorporated on 23 November 2020 [1]. A local news report says the company was founded in "early 2021" [4]. It is based in Hangzhou's Qiantang district.
Its engine is MAP (Molecule Arts Platform), rebuilt in 2026 as a multi-agent system. MAP covers target research, molecular design, multi-parameter optimization, experimental validation and clinical-data feedback [2].
Pipeline. 15 programs, 3 China/US INDs and 5 preclinical candidates [4]. Modalities include GPCR ligands, molecular glues, allosteric inhibitors and a dual-target oncology molecule [2].
- MDR-001. An oral small-molecule GLP-1 receptor agonist for obesity.
- Phase IIb: 10.3% mean weight loss at 24 weeks, with 0.8% discontinuation from adverse events [4][6].
- Phase III (MOBILE): started in January 2026 and enrolled 760 subjects at about 50 Chinese sites [4][6]. Some reports say it entered Phase III in 2025 [2].
- MRANK-106. A WEE1/YES1 dual inhibitor, cleared by the FDA for a Phase I in solid tumors in March 2025 [7].
Wet-lab model: not disclosed. The company says MDR-001 reached a preclinical candidate in 8 months with about 80 molecules synthesized, and that cumulative R&D spend to Phase III was about US$23M [4] (self-reported). MindRank has about 40 staff [4], or 50–99 per a recruiting site [8]. Running a 760-patient Phase III plus several INDs with that headcount suggests heavy reliance on chemistry and clinical CROs. This is an inference; no lab facility or CRO partner is named publicly.
2. Target Users & Pain Points
- Obesity patients and Chinese commercial partners. Oral small-molecule GLP-1 agonists avoid injections and the cost of peptide manufacturing. In September 2026 MindRank licensed China commercialization of MDR-001 to 3SBio units [5].
- Investors looking for capital efficiency. The company's core pitch is reaching Phase III in about 4.5 years for about US$23M [4].
3. Competitive Landscape
| Player | Positioning | Vs. MindRank |
|---|---|---|
| verdiva-bio | Obesity NewCo with oral GLP-1 ambitions | Better funded, but built on in-licensed assets |
| kailera-therapeutics | Hengrui-derived GLP-1/GIP NewCo in global Phase 3 | Injectable-led and far larger; benchmark for China-origin obesity assets |
| insilico-medicine | AI-native Chinese pipeline company | More programs and a listing; MindRank is ahead on a single late-stage asset |
| stonewise | Same-cohort AI small-molecule platform | Platform-first, with a Phase I asset |
4. Unique Observations
- It is the most clinically advanced of the AI-native cohort founded in 2018–2022. MDR-001 is described as China's first AI-assisted small molecule in a pivotal Phase III [4]. No company in the 2023-founded cohort has started a registrational trial.
- It is very lean. About 40 people with a Phase III asset is a CRO-dependent "virtual" model, unlike wet-heavy AI startups.
- The partnering is domestic, not global. The 3SBio deal covers Greater China only and is weighted toward royalties: up to RMB 150M in upfront and event payments versus up to RMB 1.6B in royalty-linked milestones [5]. Ex-China rights remain open.
5. Financials / Funding
| Round | Date | Amount | Investors |
|---|---|---|---|
| Angel | May 2021 | RMB 45M | Sherpa Capital [1][8] |
| Series A | Dec 2021 | US$10M (another source: "tens of millions of USD") | Hwa Capital, Songhe Capital, Sherpa [1][8] |
| Series A+ | Jul 2023 | >US$20M | Led by Xieno Investment [3] |
| Series A++ | Aug 2025 | not disclosed | Xieno, Galaxy Bay Ventures, Shenwan Investment [1] |
| Series B | Jul 2026 | US$52M cumulative, in tranches | Unnamed institutions and industrial funds; Kaicheng Capital as advisor [2] |
- Total raised (disclosed): about US$90M or more.
- 3SBio deal (28 September 2026): exclusive commercialization of MDR-001 in mainland China, Hong Kong and Macau. Up to RMB 150M in upfront and event payments plus up to RMB 1.6B in royalty milestones, capped at RMB 1.75B in total [5].
6. People & Relationships
- Founder & CEO: 牛张明 (Zhangming Niu). He holds master's degrees in computer science and biopharmaceutics, and was formerly CTO of a German-listed AI medical company [1][4].
- Commercial partner: 3SBio (via Zhejiang Sunshine Mandi and Zhejiang Wansheng) [5].
- Investors: Sherpa Capital, Hwa Capital, Songhe Capital, Xieno Investment.
- Peers: stonewise, metis-techbio, helixon-therapeutics, syneron-bio, revir-therapeutics.
Sources
- 36Kr company profile — https://pitchhub.36kr.com/project/1678432662025225
- PEdaily (Series B) — https://news.pedaily.cn/202607/565952.shtml
- PEdaily (Series A+) — https://news.pedaily.cn/202307/517872.shtml
- Hangzhou News — https://hznews.hangzhou.com.cn/chengshi/content/2026-08/07/content_9274041_0.htm
- Han Kun Law Offices (3SBio deal) — https://www.hankunlaw.com/en/portal/article/index/cid/7/id/17232.html
- Clinical Trial Vanguard — https://www.clinicaltrialvanguard.com/news/mindranks-promising-ai-oral-glp-1-enters-phase-iii-trial
- Pharnexcloud (MRANK-106 IND) — https://www.pharnexcloud.com/zixun/shiye/zjgd_49627
- Liepin company page — https://www.liepin.com/company/12541563/