Shanghai Novamab Biopharmaceuticals Completes Over RMB 100 Million Series B Financing to Advance Inhaled Nanobody Drug Candidates

VCBeat learned第一时间 that Shanghai Novamab Biopharmaceuticals Co., Ltd. ("Novamab") has successfully completed a B-round financing of over RMB 100 million. This round of financing was led by Shanghai Shengdi Private Equity Fund Management Co., Ltd. ("Shengdi Investment"), with the existing shareholder Chengdu Biological City Equity Investment Fund (Guosheng Capital) increasing its investment, and Orient Hightech and BOC International serving as financial advisors for this round. The B+ round is currently underway. The funds from this round will be used for Phase II clinical research of two inhaled antibody drugs (LQ036, LQ043) independently developed by the company based on the "Inhaled Large Molecule Drug Development Platform," and to further expand the team and replenish the company's working capital.

Novamab, established in 2017, focuses on the research and development of inhalable nanobody drugs. It has now built a comprehensive R&D, CMC, and pilot production system, and developed five innovative technology platforms. Novamab is the first to initiate research on fast-acting, highly specific inhalable nanobodies and is currently the only company in China with full-process development capabilities for inhalable nanobody drugs.

Novamab, relying on its proprietary technology platform, has developed a series of novel biologics with independent intellectual property rights. Among them, the core pipeline, as the world's first inhaled nanobody asthma treatment drug, LQ036, has completed Phase I clinical studies in both China and Australia and has entered the Phase II clinical research stage. The Phase I clinical study demonstrated excellent drug safety and corresponding biomarker efficacy. The LQ043 project has completed the Phase Ia study, simultaneously showing excellent safety and drug tolerance, with the Ib/II phase clinical trial to be launched soon.

Dr. Yakun Wan, Founder of NovamabStated: "We would like to thank all new and existing shareholders for their affirmation and recognition of the Novamab team and products. We will efficiently utilize this round of funding to advance our core pipeline of inhaled nanobody drugs to critical clinical milestones, fully validating product efficacy and further ensuring safety. Moving forward, the company will continue to uphold the vision of 'Empowering a healthier future with camelid antibodies, building a world-leading nanobody drug R&D enterprise.' Rooted in nanobody technology, focused on clinical challenges, and centered around our core technology platform, we will continuously develop innovative drug products that are more differentiated and competitive, addressing unmet clinical needs and benefiting more patients."

This round of financing was led by Shanghai Shengdi Private Equity Fund Management Co., Ltd.Stated: "Nanobodies have become a new popular breakthrough direction in the global research and development of antibody drugs, offering unique advantages in developing inhalable biologics for respiratory diseases. Novamab has established a mature nanobody discovery platform, an inhalable macromolecular drug R&D platform, and a Pichia pastoris CMC development platform. The two inhalable nanobody drugs that have entered the clinical stage show clear advantages over injectable drugs in terms of onset speed, compliance, safety, and cost. The founding team has forward-looking vision and unique technical barriers in the field of nanobodies, with full-process development capabilities for nanobodies and the potential to continuously develop blockbuster products. We look forward to the company bringing benefits to patients in China and around the world as soon as possible."

Chengdu Biological City Equity Investment Fund (Guosheng Capital)Stated: "The Novamab team possesses the core capability to build a top-tier innovative biopharmaceutical enterprise marked by nanobodies. Inhalable nanobody therapeutic products can significantly enhance the accessibility of biologics in the respiratory disease field, addressing unmet clinical needs. Novamab has unique platform technology with excellent scalability. In addition to its respiratory pipeline, products targeting large patient populations with autoimmune diseases and refractory tumors are being actively advanced while seeking partners. We are confident in Novamab's future development and our industrial cooperation, and we will continue to increase our investment, fully supporting the company’s product development process to help it become a global leader in innovative nanobody drugs."

Wang Kai, Partner of Oriental High Saint and Head of East China BusinessStated: "Innovative antibody-based biologics have been a key focus for us over the past two years, and we are honored to have efficiently assisted Novamab in completing this round of financing. During the service process, we witnessed Novamab's solid foundation in nanobody development, strong project execution capabilities, and its independently constructed inhaled macromolecular drug R&D platform, which demonstrates significant differentiation and technological advantages. This shows promising clinical and market potential, positioning Novamab as a rare and high-quality enterprise in China’s nanobody field that has not yet received widespread attention. With the market opportunities brought by the expiration of Ablynx's global patents, Novamab has garnered favor from many large domestic and international pharmaceutical companies. We believe Novamab will become a leading national brand representing China on the global stage, and we look forward to the bright future of Novamab!"

Shengdi Investment is a professional equity investment institution under Jiangsu Hengrui Pharmaceutical Co., Ltd. It 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 business centered around the pharmaceuticals and health industry. It focuses on innovative research and development and clinical needs in the biopharmaceutical field, adheres to market-oriented and differentiated investment strategies, and is committed to building a circular and win-win biopharmaceutical ecosystem and a leading biopharmaceutical innovation investment platform in China.

Guosheng Capital is a state-owned industrial capital rooted in Chengdu Tianfu International Bio City, serving the development of innovative life sciences globally. It has formed a cluster of 10 industry-linked parent-child funds with a total scale exceeding 13 billion yuan. To date, it has completed investments in more than 70 outstanding enterprises in the healthcare field, covering five major areas: modern biotechnology drugs, chemical innovative drugs, high-performance medical devices, professional outsourcing services, and health services. Following the principles of government guidance, market logic, and professional operation, it is committed to becoming the most influential comprehensive financial service provider in China's industry.