Leming Pharmaceuticals Secures Nearly RMB 100 Million in Series B Financing Led by CICC Private Equity

VCBeat has learned that Lindmik (Suzhou) Pharmaceutical Co., Ltd. (“Lindmik”) has recently completed a financing round of nearly RMB 100 million. The round was led by CICC Private Equity Investment Management Co., Ltd., with participation from Chengming Capital. Existing shareholders Fuho Capital and Shanghai Ruihe Equity Investment Management Co., Ltd. provided strong support and increased their investments. HAOYUE CAPITAL served as the exclusive financial advisor for this transaction. The proceeds will support the R&D, manufacturing, and registration of the company’s innovative formulation products, with a particular focus on accelerating the commercial production and market promotion of its two core products: flurbiprofen cataplasms and loxoprofen sodium cataplasms.

Lindmik (Suzhou) Pharmaceutical Co., Ltd., established in 2019, is a leading domestic platform enterprise focused on the field of transdermal drug delivery. The company has built R&D technology platforms covering three major dosage forms: cataplasms, hot-melt adhesive tapes, and solvent-based adhesive patches. It holds multiple invention patents related to transdermal drug delivery and has introduced several sets of imported precision production lines, enabling large-scale commercial production capacity of 500 million units annually. Its two core products, flurbiprofen cataplasm and loxoprofen sodium cataplasm, have both advanced to the supplementary material review stage ahead of competitors and are expected to be approved as the first generic versions. Currently, flurbiprofen cataplasm and loxoprofen sodium cataplasm are exclusively manufactured by Tide Pharmaceutical, a subsidiary of China Biopharmaceuticals (1177.HK), and Jiudian Pharmaceutical (300705), respectively. The combined market size for these products exceeds RMB 5 billion and continues to grow rapidly.

Mr. Gu Danhui, Chairman of LindmikIt was stated that there is a significant unmet clinical need in the field of transdermal drug delivery. The existing market is large and growing rapidly, with immense future potential. Meanwhile, high R&D barriers, complex manufacturing processes, and challenges in commercial-scale production make this sector a highly valuable long-term opportunity (“a platinum track with a long slope and thick snow”). Lindmik is at a critical milestone, transitioning from R&D-driven development to full-scale commercialization. We sincerely appreciate the trust and support of both new and existing shareholders. In the field of transdermal drug delivery, we possess not only strong R&D capabilities but also comprehensive production and sales capacities. We are confident in our ability to accelerate product approvals and commercial launch, and we look forward to witnessing Lindmik’s growth and transformation together with you all!

Mr. Ding Yameng, Founding Managing Partner of HAOYUE CAPITALHAOYUE CAPITAL stated that it is honored to have assisted Lindmik in completing this round of financing. The transdermal drug delivery sector features a favorable competitive landscape, substantial market potential, and broad development prospects. Meanwhile, this field presents exceptionally high technical barriers, such as significant challenges in early-stage R&D, complex manufacturing processes, and limited resource availability. Lindmik possesses three advanced transdermal technology platforms, with two leading products poised for imminent regulatory approval and market launch, positioning the company to spearhead the industry’s rapid transition into commercialization. HAOYUE CAPITAL remains bullish on the company and is committed to growing alongside the enterprise. We look forward to the early market introduction of the company’s innovative products, thereby benefiting a wide patient population.

CICC Private Equity Investment Management Co., Ltd. (hereinafter referred to as “CICC Private Equity”) is a wholly-owned private equity fund subsidiary established in Shanghai by China International Capital Corporation Limited (hereinafter referred to as “CICC”), with approval from the relevant regulatory authorities. It primarily manages private equity funds registered within the CICC system that are located in the Yangtze River Delta region, and is committed to serving the development of the real economy in the Yangtze River Delta and supporting the strategy for the integrated development of the region.

Beijing Chengming Private Equity Fund Management Co., Ltd. (hereinafter referred to as “Chengming Capital”) is a professional private equity investment institution primarily focused on the big health and advanced industrial sectors. It has established an integrated ecosystem platform encompassing industry, investment, government policy research, and market dynamics. All members of its investment team possess over 10 years of investment experience in relevant industries. The core team members have a global perspective and have previously conducted healthcare and technology investments in both North America and China. They have led more than ten equity funds, with a total assets under management exceeding RMB 5 billion.

Fuho Capital, established in 2008, specializes in early-stage investment for the commercialization of scientific and technological achievements. It has incubated a number of technological achievements from the Chinese Academy of Sciences (CAS) and outstanding early-stage technology enterprises, providing continuous investment support to its portfolio companies. In recent years, Fuho Capital has engaged in deep strategic cooperation with the Shanghai Institute of Materia Medica of the Chinese Academy of Sciences and the Zhongshan Municipal Government to initiate and establish a pharmaceutical industry investment fund. The fund focuses on innovative drugs, high-end formulations, and CXO sectors. To date, it has invested in dozens of leading enterprises in the industry, committed to accelerating the rapid development of more high-quality innovative drug and high-end formulation companies, thereby benefiting humanity.

Ruihe Capital was founded in 2010 by seasoned professionals from the industrial and financial sectors. With the mission of “helping enterprises innovate and grow, promoting industrial optimization and upgrading, and driving social development and progress,” it focuses on early- to mid-stage investments in the fields of intelligent technology and life sciences. In the life sciences sector, Ruihe Capital has led investments in outstanding companies such as Menovo, Titan Scientific, Arno Therapeutics, Huaxian Pharmaceutical, Zhihe Biology, Meike Medicine, and Lindmik.