Qiming Venture Partners Leads RMB 200 Million Series B2 Financing in Novamab to Advance Inhaled Nanobody Therapeutics

Jul 31, 2024 12:45 CST Updated 12:45

Novamab

Nanobody Innovative Drug Developer

Qiming Venture Partners

Healthcare Investment Institutions

▎WuXi AppTec Content Team Report

Today (July 31),Dedicated to the R&D of innovative nanobody drugs——Shanghai Novamab Biopharmaceuticals Co., Ltd. (hereinafter referred to as Novamab) announced the successful completionRecentlyRMB 200 million Series B2 financing, this round of financing was led byQiming Venture Partners led the investment, with participation from Guangzhou Huangpu Biomedical Industry Investment Fund Management Co., Ltd. and Jiangsu Jiuyu Investment Management Co., Ltd., while existing shareholder Shanghai Shengdi Private Equity Fund Management Co., Ltd. continued to increase its investment.。This round of fundraising will be mainly used to advance the company's research and development based on the "Inhaled Large Molecule Drug Development Platform."Phase 2 Clinical Studies of Two Inhaled Antibody Drugs (LQ036, LQ043H), while enriching the company's pipeline layout in the autoimmune field, enhancing team strength, and further supplementing corporate working capital.

NovamabThingAt the same time, it was announced that the B-round financing had successfully concluded, with a total financing amount of nearly 300 million RMB.Previously, Novamab had completed its Series B1 financing in December 2023, led by Shanghai Shengdi Private Equity Fund Management Co., Ltd. and participated by Guosheng Capital.Novamab, established in 2017, focuses on the research and development of inhalable nanobody drugs. The company has now built five innovative technology platforms, paving the way for research into fast-acting, highly specific inhalable nanobodies.

NovamabThe press release stated,The CompanyA series of biologic innovative drugs have been developed based on the proprietary technology platform. Among them, LQ036, an inhaled nanobody asthma treatment, has completed Phase 1 clinical trials in China and Australia, and is currently conducting Phase 2 clinical trials in China, with Phase 1 demonstrating excellent drug safety and biomarker efficacy. The LQ043H project has completed Phase 1a clinical trials in China, showing outstanding safety and drug tolerance, and the Phase 1b/2 clinical trials will be accelerated using funds from this round of financing.

Dr. Yakun Wan, Founder of Novamab"We sincerely welcome the new shareholders, Qiming Venture Partners, Guangzhou Huangpu Biomedical Industry Investment Fund Management Co., Ltd., and Jiangsu Jiuyu Investment Management Co., Ltd., and express our heartfelt gratitude to all existing shareholders for their long-term support and trust in the company and its team. The proceeds from this round of financing will be effectively utilized to advance the core project of inhalable nanobodies to reach key clinical milestones, comprehensively verifying the product's efficacy and safety. The company will steadfastly uphold the mission of 'Camel Antibodies, Pioneering a Healthy Future,' focusing on the nanobody sector and addressing critical clinical issues. Supported by our core technology platform, we will continue to develop innovative drugs with differentiation and competitiveness to meet unmet clinical needs and benefit more patients."

The following is an introduction to the investment institutions:

Qiming Venture PartnersFounded in 2006.Currently, Qiming Venture Partners manages 11 US dollar funds and 7 RMB funds, with total managed assets under management reaching 9.5 billion US dollars.Since its establishment, it has been dedicated to investing in outstanding enterprises in the early and growth stages of industries such as technology, consumer goods, and healthcare.As of now, Qiming Venture Partners has invested in more than 530 rapidly growing innovative enterprises, of which over 200 have gone public on exchanges such as the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through mergers and acquisitions. More than 70 of these enterprises have become unicorns or super unicorns recognized within their industries.

Huangpu Biomedical Industry Investment FundGuangzhou Huangpu Biomedical Industry Investment Fund Management Co., Ltd. is a private equity investment management institution focused on the medical and health field. Its main sponsors are Guangzhou Development Zone Holding Group, Liding Capital, BeiGene, and Guju Venture Capital. The fund's goal is to collaborate with multiple parties to introduce innovative medical products and services that help humanity overcome diseases and improve health and well-being. Relying on BeiGene's research and development strengths, Huangpu Pharma is based in the Guangdong-Hong Kong-Macao Greater Bay Area and undertakes the transformation and implementation of innovative drug/device R&D projects from China and even globally. The fund focuses its investments on life sciences, innovative drugs, novel medical devices, and synthetic biology.

Jiuyu InvestmentFounded on March 25, 2014, with a registered capital of 10 million yuan. Jiangsu Jiuyu Investment Management Co., Ltd. adheres to the philosophy of "assessing the situation, focusing on professionalism, and growing together," and is committed to becoming a private venture capital institution with an entrepreneurial mindset. In its early stages, relying on the resources of listed companies and experience in urban infrastructure construction, cultural tourism projects, as well as financing channels, the company demonstrated its social value in the process of China's urbanization and cultural tourism development. Since 2018, Jiuyu has gradually transitioned towards specialized investment, seeking enterprises with investment potential and partnering with them for mutual growth. Today, Jiuyu has evolved into a comprehensive financial company specializing in equity investment, securities investment, mergers and acquisitions, restructuring, and financial advisory services.

Shengdi InvestmentShanghai Shengdi Private Equity Fund Management Co., Ltd., a professional equity investment institution under Jiangsu Hengrui Medicine, was registered and established in Pudong, Shanghai, on December 6, 2021, with a registered capital of 30 million yuan. Adhering to the principles of professionalism, focus, innovation, and growth, Shengdi Investment conducts equity investment operations in the pharmaceuticals and health industry. It places significant emphasis on innovative research and development and clinical needs within the biopharmaceutical field, adhering to market-oriented and differentiated investment strategies. It is committed to building a circular and mutually beneficial biopharmaceutical ecosystem and a leading biopharmaceutical innovation investment platform in China.

References:

[1]Novamab, the world's first inhalable nanobody company, officially announced the completion of a nearly 300 million yuan Series B financing round. Retrieved Jul 31, 2024, from https://mp.weixin.qq.com/s/0pT72P6ONACBVccenZSryA

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