Nearly 50 Pharmaceutical Companies Secure New Funding Rounds Totaling RMB 13.5 Billion in November 2024

In November 2024, nearly 50 pharmaceutical companies worldwide completed a new round of financing, with a total amount of nearly 13.5 billion yuan.

Trends in Pharmaceutical Investment and Financing in 2024
Source of the image: Pharma Data Enterprise Edition - Investment Landscape Database

Table 1: Global Investment and Financing Events in November 2024

Source: Pharma Intelligence Enterprise Edition - Investment Landscape Database
Note: The exchange rates involved in the table are calculated based on the exchange rate at the time of financing completion.

Among them, several domestic companies completed billion-yuan-level financing in November.

Tongrui Biologics

On November 16, Tongrui Biologics announced the completion of an over $100 million Series A+ financing round. This round was jointly led by Shenzhen Capital Group's New Materials Fund for Manufacturing Transformation and Upgrading and Tylon Investment, with participation from several well-known institutions and industry players including Hillhouse Ventures, 3SBio, Guanghua Wutong, and a certain renowned industrial investment organization. WinX Capital served as the exclusive financial advisor for this transaction.

The main purpose of this round of financing is to further improve the company's core technology platforms such as targeted precursor discovery, upgrade the high-throughput screening capabilities for innovative RDC drugs, and accelerate the clinical development of multiple world-leading R&D pipelines, especially α nuclide RDC drugs, to bring more effective treatment options to patients worldwide.

Allink Biotherapeutics

On November 28, Allink Biotherapeutics announced the completion of a $42 million Series A financing round. This round was led by BlueRun Ventures, a globally renowned early-stage technology investment firm, with participation from Vivo Capital, Legend Capital, and C&D Emerging Investment. Additionally, existing shareholders Gaorong Capital and Mifang Health Fund provided follow-on investments. Allink Biotherapeutics is committed to developing next-generation bispecific antibodies and ADC therapies, offering better treatment options for patients with cancer and immune diseases.

This round of financing will help accelerate Allink Biotherapeutics' global layout, including advancing Phase I clinical studies of its core pipelines ALK201 and ALK202 in Australia, the United States, and China. The company will also actively expand its R&D pipelines in oncology and immunology, continuously optimize its self-developed bispecific antibody and ADC technology platforms, and build a biotech company with global influence.

IMPACT Therapeutics

On November 15, IMPACT Therapeutics announced the successful completion of its D++ round of financing worth 250 million RMB. This round was jointly invested by a globally renowned industrial investment institution and a well-known insurance fund. CapBridge served as the exclusive financial advisor for this round of financing.

This round of financing will support IMPACT Therapeutics in the commercialization of its core product, Senaparib, which has the best-in-class efficacy, as well as the global clinical development of multiple compounds, including a PARP1 selective inhibitor, and will also be used to accelerate the research and development of several early-stage projects.

BRL Medicine

On November 22, BRL Medicine announced the completion of a nearly 200 million RMB B+ round of financing. This round of financing was led by CSPC Fund, with participation from Beta Fund and other institutions.

BRL Medicine stated that after obtaining this round of financing, it will comprehensively advance the clinical transformation and market launch process of its multi-pipeline products. It will also intensify efforts to accelerate the global R&D layout of its product pipelines, contributing to the development of life sciences worldwide and bringing hope to patients suffering from genetic disorders, malignant tumors, and autoimmune diseases globally.

Anhui Zhongsheng Traceability Biotechnology Co., Ltd.

On November 8, Anhui Zhongsheng Traceability Biotechnology Co., Ltd. announced the completion of the first closing of its RMB 150 million Series B financing round. This round was led by Guangzhou Industrial Investment, with participation from Zhongyuan Investment, Guju Venture Capital, Hefei Gaotou, and existing shareholder Legend Capital, among other institutions.

The funds will be mainly used to accelerate the clinical development of multiple clinical pipelines in the iPSC cell therapy field by Anhui Zhongsheng Traceability Biotechnology Co., Ltd., as well as the subsequent product commercialization, promoting the development of the cell therapy field.

Kanglin Bio

On November 8, Kanglin Biotech announced the successful completion of its Series A financing round. This round was jointly invested by Zhejiang Province's "4+1" Biopharmaceuticals and High-End Medical Devices Industry Fund and existing shareholder Zhejiang Miyin Investment Management Co., Ltd., with a total financing amount of 150 million yuan.

This round of financing will accelerate the development of the company’s various R&D pipelines. One of its core products, KL003 Cell Injection (for treating transfusion-dependent β-thalassemia), received clinical trial approval from the China National Medical Products Administration in January 2024. Currently, all patients for Phase I clinical trials have been enrolled.

Tianwu Technology

On November 15, Tianwu Technology announced the completion of an A-round financing exceeding 100 million yuan. This round of financing was led by Qiming Venture Partners, with investments from Yonghua Investment, Jingtao Capital, and existing shareholder Bencao Capital, among other institutions.

The funds raised in this round will be mainly used for the development of self-research projects and the continuous iteration and upgrading of the general artificial intelligence for protein design, AccelProtein™, to ensure Tianwu Technology's leading position in technological innovation and market competitiveness, playing a greater role in the development of the biopharmaceutical and synthetic biology industries in China and even globally.

Ripuchenchuang

On November 1, Ruipu Chenchuang completed an A-round financing of over 100 million yuan. This round of financing was led by China Venture Capital, with follow-up investments from Beida Pharma, Legend Capital, Hetang Venture Capital, and Beicheng Venture Capital.

The financing funds will be used to accelerate the advancement of the company's research pipeline and clinical trial process, further deepening the scaled development and industrial construction of innovative cell therapy drugs.

Ningdan New Medicine

On November 1, Ningdan New Drug officially announced the completion of a C-round financing worth hundreds of millions of RMB. This round of financing was jointly completed by Nanjing Jiangning High-Tech Zone Science and Technology Investment and Huaxing Kangping.

As an innovative company focusing on the research and development and industrialization of new drugs in the field of central nervous system (CNS) diseases, Ningdan New Drug has been committed to finding better disease solutions for patients with CNS diseases since its establishment. The funds raised this time will be mainly used to accelerate the development and market launch of the company's core pipelines, the construction of independent innovation platforms, and the company’s global layout.

Lead Therapeutics

On November 18, Leader Bio announced the successful completion of an over 100-million-yuan Series A round of financing. This round was led by Beijing Longpan Venture Capital, with investment from Tianrui Fengnian, and continued additional investment from existing shareholder Zhangke Lingyi Venture Capital.

The proceeds from this fundraising will be mainly used to accelerate the Phase I and subsequent clinical studies of the company’s first pipeline, the IRAK4 degrader LT-002, the preclinical development of other autoimmune and oncology pipelines, as well as the establishment of Lantai Shaoxing R&D Center and the expansion of the R&D team.

Laymon Bio

On November 12, Laibang Bio announced the successful completion of the first close of its over RMB 100 million Series A financing round. This round was led by Fuhui Venture Capital, with participation from Junyi Investment and XtalPi, among others.

This round of financing will be mainly used for the IND application of ultra-low dose metabolism-enhanced CAR-T cell drugs, the development of automated production processes, and the acceleration of the clinical transformation of metabolism-enhanced solid tumor cell therapy drugs.

Pemphax Biotech

On November 20, Bioming Innovation Pharma, a biopharmaceutical company focused on providing breakthrough immunotherapy solutions, announced the completion of a new round of financing worth hundreds of millions of yuan. This round of financing was jointly invested by several well-known institutions and industry investors, including PICC Capital Equity, QingSong Capital, and a renowned industrial investment institution.

This round of financing will support Allergen Therapeutics' global commercial expansion and clinical development of its existing product pipeline, expansion into emerging markets, and the deepening construction of an international professional management system.

Editor: Muyan

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