Novabio Therapeutics Completes Tens of Millions RMB Pre-A Financing to Advance Treg Cell Therapy Pipeline

Oct 18, 2024 10:37 CST Updated 10:37

Novabio Therapeutics

Developer of Multi-Modal Treg Cell Therapy

Recently, Shanghai Saierxin Biomedical Technology Co., Ltd. (hereinafter referred to as "NOVABIOTX") announced the completion of a Pre-A round of financing worth tens of millions of RMB. This round of financing was jointly completed by Zeyu Capital and Semir Venture Capital. The proceeds will mainly be used to advance the clinical trials of the NP001 project and the research and development of other products in the pipeline, with the aim of accelerating the clinical translation and commercialization process of Treg therapy.

NOVABIOTX has always been dedicated to the development of Treg cell therapy drugs. With a fully independent and innovative Treg pipeline layout, an experienced management (or collaboration) team, and several key R&D projects advancing rapidly, it has become an important force in the field of Treg drug research and development. Compared with traditional Treg research approaches, NOVABIOTX's development strategy is more distinctive and advantageous, offering more treatment options for patients with neurodegenerative and autoimmune diseases.

Currently, NOVABIOTX has four Treg cell therapy drugs under development. The NP001 project is the most advanced, having received ethical approval for investigator-initiated (IIT) clinical trials from the First Affiliated Hospital of Zhengzhou University. At the same time, CMC development and non-clinical studies that meet IND application requirements are nearing completion, with plans to submit IND applications to the U.S. FDA and China's NMPA by the end of this year. The Treg-targeted product NC001 is expected to confirm its candidate molecule by the end of this year, entering the formal CMC development phase early next year. The allogeneic NP005 project is also being developed concurrently.

The completion of this financing round represents a strong vote of confidence and support from industry capital in NOVABIOTX's technical strength, R&D potential, and future development. We firmly believe that, with the company’s robust R&D capabilities, extensive industry experience, and clear future development plans, NOVABIOTX will continue to grow and drive the clinical translation of Treg cell therapy in the fields of autoimmune diseases and neurodegenerative disorders.

E.N.D

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