Kind Pharmaceuticals secures over RMB 400 million in Series C funding

Recently, Hangzhou Kind Pharmaceuticals Co., Ltd. ("Kind Pharmaceuticals") announced the successful closure of its Series C financing round, raising over RMB 400 million. This round was led by new investors including Grand Investment (with Huadong Medicine as a primary LP), Taiping Healthcare Fund, C&D Emerging Industry Equity Investment, Hangzhou Taikun Capital, Zhejiang "4+1" Biomedical and High-End Medical Device Industry Fund, Guangzhou Industry Investment Holding Group, Guangzhou Development District, Technology Financial Holding Group, and Hangzhou Talent Fund. The round also saw continued support from existing shareholders such as Efung Capital, Gaorong Capital, and Northern Light Venture Capital.

Kind Pharmaceuticals, founded in 2014 and headquartered in the Hangzhou Linping Economic and Technological Development Zone, is a high-tech pharmaceutical company dedicated to discovering and developing novel therapeutics for renal diseases, pan-anemia disorders, and cancer. The company's lead investigational asset is AND017, an internally discovered oral small-molecule compound for treating anemia associated with chronic kidney disease (CKD). The mechanism of action (MOA) targeted by AND017 was recognized with the 2019 Nobel Prize in Physiology or Medicine. AND017 has completed two Phase II multicenter clinical trials in both China and the United States as of 2024 and has now successfully initiated patient enrollment for its registrational Phase III clinical trial. Concurrently, separate Phase II trials are ongoing for AND017 in various rare diseases, including sickle cell disease (SCD) and myelodysplastic syndromes (MDS). As a once-weekly oral therapy, AND017, upon potential approval, is expected to offer significant advantages in patient compliance and safety over existing treatments, positioning it as a potential blockbuster drug across multiple indications in the pan-anemia field.

Another key asset in Kind Pharmaceuticals' pipeline is AND019, a novel third-generation Selective Estrogen Receptor Degrader (SERD) with a distinct chemical structure. AND019 employs a protein self-degradation mechanism to specifically target and degrade the estrogen receptor (ER), thereby blocking ER signaling pathways and inhibiting the proliferation of breast cancer cells. AND019 is being developed as a cornerstone of hormonal therapy for breast cancer and is currently undergoing Phase I clinical trials simultaneously in China and the U.S. The company's pipeline also includes several preclinical candidates, comprising both small molecules and Antibody-Drug Conjugates (ADCs).

The proceeds from this latest funding round will be primarily used to accelerate the global clinical development of AND017 and AND019, as well as to advance Investigational New Drug (IND)-enabling studies for the company's pipeline of small molecules and ADCs. Prior to this round, the company secured a $35 million Series A financing in 2019 from Decheng Capital, followed by a $50 million Series B round in 2021. The Series B was co-led by Northern Light Venture Capital and Gaorong Capital, with participation from returning investor Efung Capital, Decheng Capital, and Ancheng Capital.