Seven Innovative Biopharma Companies Secure New Funding, Three from China

Oct 21, 2024 09:32 CST Updated 09:32

Terray Therapeutics

AI Drug Discovery Developer

TenNor Therapeutics

Antibacterial New Drug R&D Developer

▎WuXi AppTec Content Team Report

According to the Jike Pharma Database, last week (October 14th ~ October 20th),Global Biopharmaceutical FieldAt least 7Companies Dedicated to Innovative Drug Development Announce Completion of New Round of Financing, Including 3 Chinese Companies. These Rising Companies, Newly Favored by the Capital Market, Are Committed to DevelopingAntibodies, antibody-drug conjugates (ADCs), and other cancer immunotherapies, small molecule drugs for immune diseases, chemically induced cell therapy drugs, thymus-induced pluripotent stem cell (iPSC) drugsEtc.

Lixin Pharmaceutical

Financing Round: C1 Round

Financing Amount:300 million yuan

On October 18, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. announced the completion of a C1 round of financing worth 300 million yuan.This round of financing was led by China Biologic Products, with participation from Pudong Venture Capital and Zhangjiang Haoheng, and follow-up investments from existing shareholders Qiming Venture Partners and Shanghai BioPharmaceutical Fund.In addition, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. has recently initiated its Series C2 financing round. The proceeds will primarily be used to accelerate the company’s clinical pipeline, especially the advancement of LM-302 and LM-108, and to support its antibody discovery platform, next-generation ADC technology platform, and bispecific antibody technology platform in continuously generating innovative pipelines.

Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. was founded in 2019.Focusing on Unmet Therapeutic Needs in the Field of Tumor Immunology and the Tumor Microenvironment, focusing on the research and development of innovative biopharmaceuticals. The company is particularly dedicated to the development of macromolecular anti-tumor drugs targeting GPCRs and multi-transmembrane proteins, and possesses ADC drug and bispecific antibody drug development platforms, implementing a differentiated drug development strategy. Currently, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. has established multiple differentiated innovative drug pipelines, including targetedCLDN18.2 ADC, Anti-CCR8 Monoclonal Antibody, Anti-SIRPα Monoclonal Antibody, Anti-PD-1/VEGF Bispecific Antibody, Anti-CEACAM5/4-1BB Bispecific Antibodyetc.

Terray Therapeutics

Financing Round: Series B

Financing Amount:$120 million

On October 18, Terray Therapeutics announced the completion of a $120 million Series B financing round. This funding will advance its internal pipeline, developed using generative AI, into clinical trials and further enhance the company’s integrated AI platform, tNova, to support both internal and collaborative R&D projects. Terray Therapeutics is committed to accelerating the development of small-molecule drugs by integrating large-scale computation and novel data. Over the past three years, Terray has quantitatively measured more than five billion target-ligand interactions. The company 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

Financing Round:Series E

Financing Amount: Over 300 Million Yuan

October 16,TenNor Therapeutics Announces First Closing of Over 300 Million RMB in Series E Financing. This round of financing was led byZhongshan Investment Holdings' Zhongshan Venture Capital and AMR Action Fund (AMR Fund)Co-led the investment, with the funds obtained to support the core new drug R&D pipeline, including the late-stage clinical trials and commercialization of TNP-2198, a new drug candidate for treating Helicobacter pylori infection, and TNP-2092, a new drug candidate for treating infections related to implanted medical devices.

TenNor Therapeutics focuses on the research and development of new drugs in the field of bacterial infections and microbiota metabolism-related diseases. The company’s new drug product TNP-2198 (Lifortenizole) for treating Helicobacter pylori infection has completed Phase 3 clinical trials, and multiple other new drug candidates have also entered the late-stage clinical trial phase, including TNP-2092 (Lifoquindone), 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.

Tolerance Bio

Financing Round: Seed Round

Financing Amount: $17.2 Million

On October 15, Tolerance Bio announced the completion of a $17.2 million seed funding round, led by Columbus Venture Partners, with participation from investors including Criteria Bio Ventures, Sessa Capital, BioAdvance, and Ben Franklin Technology Partners.Tolerance Bio focuses on addressing various immune-mediated diseases through thymus-based immune tolerance manipulation.The thymus is an organ in the chest that plays a crucial role in training T lymphocytes (T cells) to defend against threats such as infections and cancer, while also preventing autoimmunity. The thymus declines with age, increasing the risk of immune disorders and mortality.

Tolerance BioA cell therapy platform and thymus therapy based on allogeneic or "off-the-shelf" thymus-induced pluripotent stem cells (iPSC) are under development.Aimed at delaying and preventing the decline of the thymus, a crucial organ in the human immune system, and restoring its function when thymic function is lost, to treat immune-mediated diseases caused by abnormal immune tolerance.Including cancer, autoimmune diseases, transplant rejection, infections, immunodeficiency, and allergies.The proceeds from this financing will be used to advance the company’s proof-of-concept efforts in the rare disease field as well as the research and development of novel therapeutic approaches.

Monument Therapeutics

Financing Amount: £1,000,000

On October 15, Monument Therapeutics announced that the charitable organization Forster Foundation had invested an additional £1 million in the company. This new investment builds on the equity and non-dilutive financing announced in April 2024 and will be used to supportNew Therapy for Cognitive Symptoms of SchizophreniaClinical Development of MT1988. Monument adopts a unique new drug development strategy, leveraging cutting-edge science and digital neuroscience expertise to match patients with new drug treatments through digital cognitive assessments. MT1988 targets cognitive symptoms of schizophrenia and complements existing schizophrenia medications, including the recently FDA-approved oral capsule KarXT.

Ruijian Pharmaceuticals

Financing Round:Series B

Financing Amount: Over 100 MillionYuan

On October 14, Ru Jian Pharmaceutical announced the completionOver 100 Million USD in Series B Financing. This round of financingLed by Ceyuan Capital and Guosheng Capital, with participation from industry investment institutions and Wuhan Optics Valley Industry Investment.. Meanwhile,Ruijian PharmaceuticalsThe B+ round of financing is also nearing its final stage and will be closed in the near future.

Ruijian Pharmaceuticals focuses onUniversal Chemically-Induced Cell Therapy DrugsR&D,Focus on Small Molecule Chemical Transcriptional RegulationInduced Pluripotent Stem Cells (iPSC), with a pipeline covering multiple potential "first-in-class" products in neurodegenerative diseases, ophthalmology, and more.. According to the press release, the funds from this round of financing will be used to accelerate the advancement of the companyParkinson's Disease Treatment ProductsThe advancement of NouvNeu001 and NouvNeu003, as well as the ophthalmic treatment product NouvSight001, in clinical trials in both China and the United States, strengthens the development of multiple innovative pipelines and the establishment of clinical capabilities.

MEDiC Life Sciences

Financing Round: Strategic Financing

Financing Amount: 5 Million USD

On October 14, MEDiC Life Sciences announced that it had secured a $5 million strategic investment from LG and Hanmi Pharmaceutical to accelerate the adoption of its groundbreaking cancer biomarker discovery technology and advance drug discovery efforts. MEDiC Life Sciences' technological platform, MCAT, can measure gene-drug interactions, aiding in the identification of synthetic lethal signals (SLS). These biomarkers produce a synthetic lethal effect when corresponding with cancer drugs, significantly improving patient response rates. MEDiC hopes this technology will not only enhance drug efficacy but also expand the potential of cancer treatments by identifying multiple biomarkers with significant morbidity.

We hope that with the support of the capital market, more cutting-edge technologies and innovative therapies can benefit patients as soon as possible.

References:

[1] Official websites of various companies and publicly available information

This article is from the content team of WuXi AppTec. Individuals are welcome to share it on their social media, but unauthorized reproduction by media or institutions in any form to other platforms is strictly prohibited.For reprint authorization and other cooperation requests, please contact wuxi_media@wuxiapptec.com.

Disclaimer: The content team of WuXi AppTec focuses on introducing the research progress in global biopharmaceuticals and health. This article is for information exchange only, and the views expressed in the article do not represent the position of WuXi AppTec, nor does it indicate that WuXi AppTec supports or opposes these views. This article is not a recommendation for treatment plans. For guidance on treatment options, please visit a正规医院.