Kanova Biopharma completes several hundred million RMB new financing round to advance key clinical trials of core programs

Recently, Kanova Biopharma officially announced the completion of a new financing round of several hundred million RMB. This round was co-led by GL Ventures and Beijing E-Town Core Technology Direct Investment Fund, with strong support from the Beijing Medical and Health Industry Investment Fund. Caleb Capital and Yuanxi Haihe participated as follow-on investors. The proceeds from this financing will be primarily used to advance key clinical trials of core programs, further develop the innovative bispecific antibody technology platform and core product pipelines, and strengthen the core and R&D teams to ensure Kanova Biopharma's continued rapid growth in the next phase. The success of this financing round once again highlights the capital market's strong recognition of the company's innovative R&D capabilities and growth potential.

Kanova Biopharma was founded on November 13, 2015, by Professor Dong Chen, a internationally renowned immunologist and academician of the Chinese Academy of Sciences. The company is a biopharmaceutical enterprise driven by precision innovation. Professor Dong Chen also serves as the company's Chief Scientific Advisor, providing core guidance for Kanova's R&D direction. Kanova Biopharma focuses on the development of large-molecule drugs in the fields of autoimmune diseases and immuno-oncology, and is committed to creating innovative drugs with independent intellectual property rights that originate in China and target the global market, offering patients first-in-class or best-in-class treatment options.

As an innovation-driven company rooted in fundamental science, Kanova leverages the deep expertise of Professor Dong Chen's team in immunology. Professor Dong Chen's team has contributed to the discovery of Th17 cells and Tfh cells and is recognized as a pioneer and authority in these areas. Based on this foundation, Kanova has built a robust product pipeline in autoimmune diseases and tumor immunology, with most products being at world-leading or first-in-class levels. Among them, Kanova's independently developed first-in-class drug, XKH001 injection (anti-IL-25 monoclonal antibody), has achieved significant progress in multiple indications. It is the only IL-25-targeting drug globally that has entered clinical trials. Currently, the Phase IIa clinical trial of XKH001 in moderate-to-severe atopic dermatitis (AD) is progressing smoothly, the Phase II clinical trial in chronic obstructive pulmonary disease (COPD) is about to begin, and Phase II clinical trials for multiple additional indications, including moderate-to-severe asthma and idiopathic pulmonary fibrosis (IPF), have also been approved.

Kanova's core product, XKH004 (anti-IL-17A/F antibody), has also made remarkable progress. As the first domestically developed anti-IL-17A/F dual-target biologic in China and the second globally, XKH004 has achieved successful Phase III registration clinical studies in both psoriasis and ankylosing spondylitis. In the psoriasis clinical study, conducted in collaboration with Livzon Mabpharm, a head-to-head Phase III trial demonstrated superior efficacy compared to Novartis' secukinumab, providing rigorous clinical evidence supporting the best-in-class profile of XKH004. The BLA submission has been granted priority review status.

Since its establishment, Kanova Biopharma has successfully completed multiple financing rounds: a RMB 115 million Series A round in November 2018, a multi-million dollar Series B round in July 2021, and an over RMB 100 million Series B+ round in July 2023. To date, the company has received investment from more than 15 institutions, with its shareholder base including well-known investors such as CD Capital, Northern Light Venture Capital, GTJA Investment Group, and Lotus Lake Capital. This fully reflects the capital market's sustained recognition of the company's R&D capabilities, product potential, and core team.