LTZ Therapeutics Raises Over $20 Million in Series A Financing to Advance Myeloid Engager Platform for Cancer and Autoimmune Diseases

Shenzhen, China, and Redwood City, California, USA, July 30, 2024 — LTZ Therapeutics (referred to as “LTZ” or “the Company”), announced the completion of its Series A financing round, raising over US$20 million. This round was led by LapamCapital, with participation from GL Ventures, and additional investments from existing shareholders Qiming Venture Partners, Tibet Xianfeng Qiyun Investment Advisory Co., Ltd., and Shunwei Capital. Since its establishment in 2022, the company has raised approximately US$50 million in total.

LTZ Therapeutics is committed to developing novel immunotherapies based on the "Myeloid Engager Platform" technology to better address unmet clinical needs in areas such as cancer and autoimmune diseases. The newly raised funds from this round will primarily be used to accelerate the development of LTZ’s pipeline, including filing for Investigational New Drug (IND) applications, initiating Phase I clinical trials for the first product, LTZ-301, conducting IND-enabling studies for the second product, LTZ-232, and rapidly advancing other ongoing projects. Additionally, the funds will be utilized to further expand the global team.

Dr. Robert Li, Founder and CEO of LTZ TherapeuticsStated: "We sincerely thank the new investors for their high recognition and the existing shareholders for their continued capital increase. This round of financing represents a crucial step in the development of our novel 'myeloid cell engager' technology platform. The core methodology of LTZ is the organic integration of 'reverse translational science' with our deep understanding of the biology of the 'tumor microenvironment' (TME), particularly 'myeloid cell biology.' Thanks to the strong support and sincere cooperation from our investor shareholders, Scientific Advisory Board, and team members, the company has achieved significant progress over the past year. Not only have we validated our self-developed technology platform in various preclinical testing systems (including cancer patient-derived organoid models), but we have also advanced our first product, LTZ-301, from the early discovery stage to the IND-enabling stage. We will continue our efforts and, with the funds raised in this round, push LTZ forward to the next milestone."

Mr. Yu Zhihua, Founding Partner of LapamCapitalRepresentative stated: "LTZ Therapeutics is a platform company focused on developing globally leading multi-functional connector antibodies for myeloid cells. The company’s technology platform can effectively utilize and activate macrophages enriched in the tumor microenvironment as effector cells, achieving direct, effective, and safe killing of tumor cells. This has been validated by various clinically relevant models and is expected to bring breakthrough therapeutic effects in the field of oncology and other diseases (such as autoimmune diseases). With years of deep industry expertise and a broad international perspective, the LTZ team has demonstrated exceptional professional capabilities in pipeline project strategic planning and global clinical development strategies. LapamCapital is delighted to lead this round of financing. We eagerly anticipate LTZ Therapeutics' continued innovation and look forward to bringing new treatment options to patients worldwide as soon as possible."

In the tumor microenvironment (TME) of various hematological malignancies and solid tumors, macrophages are consistently identified as one of the most common immune cell populations. Therefore, effectively mobilizing and activating macrophages to kill cancer cells holds significant therapeutic potential and clinical value for patients. Targeting a broad spectrum of cancer types, LTZ Therapeutics is developing a novel "Myeloid Engager Platform" technology based on reverse translational research inspired by drug discovery and emerging TME myeloid cell biology. This platform focuses on enhancing the phagocytic function of macrophages and monocytes, establishing a broad-spectrum anti-tumor immune barrier.

LTZ Therapeutics is a globally integrated biotechnology company focused on novel immunotherapies. Addressing significant unmet clinical needs in areas such as cancer and autoimmune diseases, the company has independently developed the "Myeloid Engager Platform" and related original innovative drugs, aiming to enhance comprehensive clinical benefits for a broad patient population. LTZ’s international team is located in Shenzhen, China; Redwood City, California, USA; and Heidelberg, Germany. Based on reverse translational science and emerging tumor microenvironment biology, LTZ Therapeutics is committed to developing next-generation immunotherapies that can both overcome drug resistance and enhance anti-tumor immunity.

LapamCapital is a leading biopharmaceutical venture capital firm in China, currently managing five RMB funds and one USD fund with a total scale exceeding 10 billion RMB. LapamCapital is the only biopharmaceutical investment institution that has received funding support from China's two top RMB LP contributors—the National Social Security Fund and the National Small and Medium Enterprise Development Fund. Focusing primarily on early-stage and growth-stage investments, LapamCapital has invested in over 120 companies to date, including notable projects such as Betta Pharmaceuticals (SZ.300558), RemeGen (SH.688331), Asia Pioneer Pharmaceutical (SH.688176), Kexin Technology (SH.688687), Immune-Onc Therapeutics (HK.01541), Aierbo NuoDe (SH.688050), and Kangtini Pharmaceutical (GYRE). The management team at LapamCapital includes several partners with more than 20 years of international and domestic biopharmaceutical industry R&D and management experience, providing comprehensive value-added services to portfolio companies.

GL Ventures is one of the most active venture capital platforms in China, focusing on the value discovery and value creation of innovative companies, with particular attention to key areas such as new technologies, new energy, new materials, and new consumption. Since its independent launch in 2020, we have been committed to supporting the long-term development of early-stage innovative enterprises through systematic DVC (Deep Value Creation) services.