Ridge Medicine Completes $90 Million Series B Financing to Advance Global Innovative Drug Development

Shanghai, Feb. 19, 2021 /PRNewswire/ -- Shanghai Regor Therapeutics Group (Regor Therapeutics) successfully completed a USD 90 million Series B financing round in February 2021.

Regor Therapeutics, established in July 2018, is dedicated to the research and development of innovative first-in-class and best-in-class drugs with independent intellectual property rights in the fields of oncology, autoimmune diseases, and metabolism. The company’s founders and senior management team comprise distinguished scientists from world-leading enterprises, with expertise in target identification and drug molecular structure design. Regor Therapeutics has successfully established a highly efficient new drug development system and a multidisciplinary integrated technology platform. Notably, its proprietary CARD technology platform integrates structural biology, computational chemistry, medicinal chemistry, and biology. As a result, within just over two years of its establishment, the company has advanced self-developed compounds into clinical stages.

This round of financing, amounting to $90 million, was led by Lilly Asia Ventures, with participation from Loyal Valley Capital, Lan Ting Capital, TF Capital, and Vertex Investment. The funds will be used for Regor Therapeutics’ new drug molecule development, clinical research, and subsequent pipeline development. Founded in July 2018, Regor Therapeutics counted Qilu Pharmaceutical Group, a renowned Chinese pharmaceutical enterprise, as its strategic investor in the Series A round.

Dr. Xia Yang Qiu, CEO of Regor Therapeutics, expressed great satisfaction with the Series B financing round, statingTao“We are deeply grateful to these outstanding investment institutions for their support of Regor Therapeutics, which has strengthened our confidence and capacity to advance the development of multiple new drug molecules and clinical programs. We look forward to long-term collaboration with our investors, working together to develop world-class novel therapies for hundreds of millions of patients suffering from chronic and serious diseases in China and around the globe.”

Dr. Yi Shi, Managing Partner at Lilly Asia Ventures, commented, “We are honored to support Regor TherapeuticsFirst-Class"The team is developing and expanding the product pipeline to create more innovative drug products that benefit patients."

Lin Lijun, Partner at Loyal Valley Capital, stated: “In the next decade, China will usher in a historic opportunity for vertical advancement. We are delighted to join hands with the international pharmaceutical industry’s”Top-tierScientists, entrepreneurs, and partners in the investment community join forces to leverage innovation and science to alleviate patients’ suffering, striving through our collective efforts to make the world a better place.”