Bio-pharmaceutical Company Mabworks Closes Series C1 and C2 Funding Round

According to lieyunwang.com, Beijing Mabworks Biotech Co., Ltd. ("Mabworks"), a biopharmaceutical company in the clinical stage, announced the completion of the ￥1.13 billion Series C1 and C2 round, led by China Capital Qide Fund, with participation from SDIC Unity Capital, Yuexiu Industrial Fund and BOCOM International Holdings.

Proceeds from the latest rounds will be used for the development and commercialization of Mabworks' biomolecular drugs.

Previously, Mabworks has completed three rounds of financing. In January 2017, the company completed a ￥270 million Series B financing. In May 2016, It got an investment of more than 100 million yuan from Medfine Capital.

Headquartered in Beijing, China, Mabworks has established fully-integrated technology platforms in discovery and development, manufacturing and commercialization of therapeutic antibodies. The company has built up a robust pipeline of over 15 assets which have entered into clinical development in China and North America.

Mabworks is a leading enterprise of innovation in the leapfrog development of the biopharmaceutical industry (G20 project) in National High-tech Enterprise, Beijing Key Laboratory, and Engineering Laboratory, and it also has a postdoctoral workstation and academician expert workstation.

So far, Mabworks has developed various biological macromolecules, covering indications such as lung cancer, gastric cancer, lymphoma, leukemia, breast cancer, colorectal cancer, lupus nephritis, hyperlipidemia and emerging infectious diseases and other areas, including the MIL62, China's first new-generation anti-CD20 antibodies, MBS301, the world's first glyco-engineered bispecific anti-human epidermal growth factor receptor 2 (HER2) antibody with a typical IgG1 monoclonal antibody structure, and MIL77 against ebola virus.

At present, Mabworks has completed the clinical phase III trial of one pipeline, and another five kinds of drugs have entered clinical phase I and phase II, and many others have applied for clinical research certification or entered the pre-clinical research. The company has more than 50 domestic and foreign invention patents.

China Capital Qide Fund is an equity investment fund of China Capital Investment Group ("CICG") focusing on the investment in innovative medicine.

SDIC Unity Capital is a professional guidance fund and parent fund management platform of SDIC Group. It focuses on equity investment in forward-looking and strategic emerging industries and management of parent funds and government-guided funds.