MingMed Secures $60 Million Series A Financing Led by Gaorong Capital to Advance First-in-Class Drug Pipeline

Investment Circle (ID: pedaily2012) reported on March 17 that Guangzhou MingMed Biotechnology Co., Ltd. (MingMed, hereinafter referred to as “MingMed”), dedicated to developing globally competitive first-in-class drugs, announced the completion of a $60 million Series A financing round. This round was led byGaorong VenturesLead investor; co-investors include Lightspeed China, Huacheng Venture Capital, Jingcheng Capital, Zhuhai Huajin Capital Co., Ltd., and Hengqin Financial Investment.

MingMed was established in October 2019, boasting an R&D team composed of numerous top-tier scientists and experts, as well as a Scientific Committee made up of scientists with global influence. MingMed’s product pipeline covers ophthalmic drugs, small-molecule immunotherapeutics, cell therapies, and novel medical aesthetics drugs, with each pipeline having achieved world-class breakthrough progress.

Zhang Yan, Co-founder and CEO of MingMed, stated, “We are deeply grateful to our investors for their recognition and support of MingMed. The company is currently in a phase of rapid development. Since 2021, MingMed has achieved significant breakthroughs across multiple pipelines of original innovative drug candidates. Our innovative therapeutic targeting dry age-related macular degeneration (AMD) has yielded encouraging results in exploratory double-blind clinical trials involving dozens of patients. Additionally, pilot-scale production of MingMed’s novel recombinant protein-based aesthetic medicine product has been successfully accomplished. We anticipate that several candidate drugs from our pipeline will enter Phase I/II clinical trials in both China and the United States within this year, thereby driving further rapid enhancement of the company’s value. Guided by our mission—‘Understanding Causes, Clarifying Medicine, Serving People’—we will continue our efforts to contribute to human health.”

Senior Advisor to Gaorong Ventures, the Lead Investor in This RoundYu JiangDr. Tao stated, “First in China, best of the world. The team at MingMed possesses forward-looking R&D capabilities, a strong spirit of collaboration, exceptional execution, and a broad international perspective. The company has achieved breakthrough R&D results in multiple blockbuster drug sectors valued at billions or even tens of billions of dollars. We are delighted to have the opportunity to partner with such a team and look forward to accompanying and supporting the company’s development over the long term.”