Three Chinese Innovative Biopharma Companies Secure Funding! $120M Backs AI-Driven Drug Discovery Startup | Weekly Financing Roundup
Terray Therapeutics
AI Drug Discovery Developer
TenNor Therapeutics
Antibacterial New Drug R&D Developer
Terray TherapeuticsCompleted $120 Million Financing
Keywords:AI Drugs
Latest Financing:$120 Million Series B
This round of investment institutions: Alexandria Venture Investments, Bedford Capital, Digitalis Ventures, Goldcrest Capital, Madrona Ventures, etc.
Terray Therapeutics is committed to accelerating the speed, reducing the cost, and increasing the success rate of small molecule drug development by integrating large-scale computation and novel data, thereby improving human health. On October 18, the company announced the completion of a $120 million Series B financing round. This funding willTo advance its internally developed pipeline based on generative AI into clinical trials and further enhance Terray's integrated AI platform, tNova., to support internal and collaborative R&D projects.
Terray's data advantage endows it with potential "best-in-class" AI capabilities to identify and optimize novel small molecules that address complex problems. Terray applies this expertise to its internal pipeline focused on immunological diseases, while also targeting more challenging targets in collaborations with Bristol Myers Squibb and Calico.
TenNor Therapeutics Announces Completion of Over 300 Million RMB Series E Financing
Keywords:Small Molecule Drugs
Latest Financing:Over 300 Million RMB Series E
This round of investment institutions: AMR Action Fund, Zhongshan Venture Capital
On October 16, TenNor Therapeutics announced the completion of the first closing of its Series E financing round, raising over 300 million RMB. The funds will be used forSupporting the core new drug R&D pipeline, including the late-stage clinical trials of TNP-2198, a new drug candidate for the treatment of Helicobacter pylori infection, and TNP-2092, a new drug candidate for the treatment of infections associated with implanted medical devices.and Commercialization。
TenNor Therapeutics focuses on bacterial infections and microbiota metabolism-related diseases, concentrating on areas where there is still a lack of reasonable treatment options, andIndications with significant market potential currently have multiple new drug candidates entering the late-stage clinical trial phase.TNP-2198 (Lifortonazole) is a new drug candidate with a unique multi-target synergistic mechanism of action against microaerophilic and anaerobic bacteria, and is expected to become a new drug product developed for Helicobacter pylori infection, with Phase 3 clinical trials nearing completion. TNP-2092 (Rifiquinone) is a new drug candidate with a unique triple-target synergistic mechanism of action, designed to address the dual challenges of antibiotic resistance and tolerance in implantable medical device infections. It has already completed six Phase 1 and Phase 2 clinical trials in both China and the United States.
Lixun Pharmaceuticals Completes 300 Million Yuan C1 Financing Round
Keywords:Antibody
Latest Financing:C1 Round of 300 Million Yuan
This round of investment institutions: Pudong Venture Capital, Qiming Venture Capital, Shanghai Biomedical Fund, Zhangjiang Haohang, China Biologic Products
On October 18, Limin Pharmaceuticals announced that it had successfully completed a C1 round of financing worth 300 million yuan. In addition, Limin Pharmaceuticals has recently initiated the C2 round of financing. The funds raised will be mainly used forAccelerate the clinical progress of the company's clinical-stage pipeline, especially LM-302 and LM-108, and support the company's self-developed antibody discovery platform, next-generation ADC technology platform, and bispecific antibody technology platform., continuously delivering an innovative pipeline.
Levena Biopharma was founded in 2019, focusing on unmet treatment needs within the fields of tumor immunology and the tumor microenvironment, with an emphasis on the research and development of biologic innovative drugs. The company is particularly dedicated to the development of macromolecular anti-tumor drugs targeting GPCRs and multi-transmembrane proteins. It possesses ADC drug and bispecific antibody drug development platforms, implementing a differentiated drug development strategy. Currently, Levena Biopharma has established multiple innovative drug pipelines with differentiation. Among them, LM-302 (an ADC targeting CLDN18.2) has entered Phase 3 registrational clinical trials in China, while LM-108 (an anti-CCR8 monoclonal antibody) is in Phase 2 clinical trials.
Tolerance Bio Completes $17.2 Million Seed Financing Round
Keywords:Stem Cell Therapy
Latest Financing:$17.2 Million Seed Round
This round of investment institutions: Ben Franklin Technology Partners, BioAdvance, Columbus Venture Partners, Criteria Bio Ventures, Sessa Capital
On October 15, Tolerance Bio completed a $17.2 million seed funding round led by Columbus Venture Partners. Tolerance Bio is aFocused on Modulating Immune Tolerance Through the Thymus to Address Various Immune-Mediated DiseasesThe company is developing an allogeneic thymus-induced pluripotent stem cell (iPSC) cell therapy platform and drug thymus therapy to treat various immune-mediated diseases caused by abnormal immune tolerance, including cancer, autoimmune diseases, transplant rejection, infections, immunodeficiency, and allergies. The funds from this financing will be used to advance the company's proof-of-concept efforts in the rare disease field and the research and development of novel therapeutic approaches.
Ru Jian Pharmaceutical Completes Over 100 Million Yuan in Series B Financing
Keywords:Stem Cell Therapy
Latest Financing:Over 100 Million USD in Series B Financing
This round of investment institutions: Ceyuan Capital, Guosheng Capital, Wuhan Optics Valley Industrial Investment
On October 14, Ruijian Pharmaceuticals announced the completion of a Series B financing round exceeding 100 million yuan. Meanwhile, the company's Series B+ financing round is also nearing its final stages and is expected to close soon. Ruijian Pharmaceuticals focuses on the development of universal chemically-induced cell therapy drugs. According to the press release, the funds from this financing round will be used forAccelerate the advancement of the company's Parkinson's disease treatment products NouvNeu001/NouvNeu003, and ophthalmic treatment product NouvSight001 in clinical trials in both China and the United States., and strengthen the R&D progress of multiple innovative pipelines and the establishment of clinical capabilities.
Ruijian Pharmaceuticals was founded in 2017 as an international innovative biopharmaceutical company focused on the field of regenerative medicine. Leveraging its unique technology platform, the company specializes in small-molecule chemical transcriptional regulation to induce pluripotent stem cells (iPSC). It has developed a pipeline of potential "first-in-class" products targeting neurodegenerative diseases, ophthalmology, and more. NouvNeu001 Injection, a chemically induced functional human dopaminergic neuronal progenitor cell product, received approval from China's National Medical Products Administration (NMPA) in August 2023 to initiate Phase 1/2 combined clinical trials. In June this year, the product also received FDA approval for clinical trials in the United States.
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