Gluetacs Therapeutics Secures Series A Financing to Advance Clinical Translation of Protein Degradation Therapeutics

VCBeat has learned at the earliest opportunity that,BiaoXin Biomedical Technology (Shanghai) Co., Ltd. (hereinafter referred to as "BiaoXin Bio")Announced the completion of Series A financing, led byHuangpu Biomedical FundLead Investor,Yuemin Investment Fund, Nanwan Baiao, Sinan YuankeCo-investment. The proceeds from this round of financing will be primarily used to advance the Phase I clinical trials of BiaoXin Biomedical’s product candidates GT919 and GT929, as well as to develop its preclinical projects.

BiaoXin Biotechnology is a biotech company incubated by the Institute of Immunochemistry at ShanghaiTech University, specializing in the development of oral small-molecule protein degraders. BiaoXin focuses on addressing unmet clinical needs in therapeutic areas such as oncology and autoimmune diseases.GlueTacs: A Unique Cross-Fusion of Molecular Glues and Bifunctional Degraders^®Dual R&D platforms have successfully advanced two molecular glue degrader pipelines into the clinical stage.

The company possesses a highly diverse, proprietary library of E3 ubiquitin ligase ligands with independent intellectual property rights. By leveraging high-throughput, multidimensional experimental data, it comprehensively employs AI-assisted machine learning models to inform and guide drug design, followed by further screening in wet-lab experiments, thereby accumulating extensive proprietary knowledge on the structure-activity relationships (SAR) of molecular glues. The molecular glue pipeline developed by this platform features high affinity for E3 ligases and high target selectivity. Currently, two product candidates have received clinical trial approval in both China and the United States. Among them, GT919 and GT929 have demonstrated efficacy and a safe, controllable safety profile in their respective indications for relapsed/refractory hematologic malignancies, and are currently undergoing further dose escalation in clinical trials.

In the field of bifunctional degraders, BiaoXin Biomedical focuses on various solid tumors and autoimmune diseases, with a particular emphasis on patient subpopulations who are refractory or resistant to existing therapies. By linking proprietary E3 ubiquitin ligase ligands with linkers and target protein ligands, the company has obtained candidate compounds featuring high degradation selectivity and excellent oral bioavailability, and will sequentially submit Investigational New Drug (IND) applications.

Company: GlueTacs^®The dual R&D platform also boasts a substantial portfolio of payload candidate molecules suitable for antibody-conjugated degraders, demonstrating robust in vitro and in vivo activity across various hematologic and solid tumors.

Dr. Yang Xiaobao, Founder, Chairman, and CEO of BiaoXin BiomedicalHe stated, “We extend our sincere gratitude to the four specialized biomedical investment institutions for their full support and assistance to BiaoXin Biomedical. The comprehensive due diligence conducted by investors in this round, covering our technology platform, pipeline data, and operational team, has identified areas for further improvement and strengthened my confidence in the company’s position within the industry. Moving forward, we can only repay all shareholders through the continuous achievement of corporate milestones. The anticipated clinical progress of BiaoXin Biomedical’s two clinical pipelines, GT919 and GT929, further validates the company’s solid scientific foundation, translational capabilities, and platform-based strengths in the field of protein degradation. We will continue to explore and tackle the development of pipelines targeting unmet clinical needs, while further enhancing execution and efficiency. This round of financing will accelerate the progress of BiaoXin Biomedical’s preclinical and clinical pipelines, further supporting the realization of the company’s vision: ‘To innovate uniquely, pioneer new frontiers, and benefit patients.’”

Mr. Wu Chaoyang, Chairman of the Huangpu Biomedical Fund“The continuous advancement of protein degradation technology in clinical applications has allowed multiple molecular glue and PROTAC pipelines to increasingly demonstrate their potential across various indications, thereby attracting successive interest from multinational pharmaceutical companies. This is precisely why we have maintained a close focus on the protein degradation field. BiaoXin Biomedical Technology (Shanghai) Co., Ltd. has accumulated extensive technical expertise in the areas of molecular glues and PROTACs, providing a solid foundation for its sustained innovation and development. We have noted that BiaoXin Biotech has achieved positive clinical data during the recent clinical progression of its pipeline, which fully underscores the potential of its products. As an investment institution dedicated to the biomedical sector, Guangzhou Huangpu Biomedical Industry Investment Fund Management Co., Ltd. is highly optimistic about BiaoXin Biotech’s future prospects in the research and development of novel protein degradation therapeutics. We look forward to seeing the company accelerate its pipeline development, achieve early product commercialization, enter European and American markets with its uniquely innovative drug products, establish an international development strategy, and ultimately bring benefit to patients worldwide.”

Yuemin Investment FundIt stated: “Molecular glues are a class of small-molecule compounds with high specificity, holding promise for tackling ‘undruggable’ targets through protein degradation, and have currently become a frontier direction in innovative drug R&D. BiaoXin Biomedical Technology (Shanghai) Co., Ltd. was incubated by the Institute of Immunochemistry at ShanghaiTech University. It possesses a core patent portfolio with independent intellectual property rights covering both molecular glue and PROTAC dual platforms. The core team members are all authoritative scientists in the field of protein degradation, demonstrating the capability to build advanced platforms for full-process drug development. Leveraging the unique advantages of its platform in drug screening, the company has achieved two Investigational New Drug (IND) approvals in molecular glue research, with the first patient already enrolled and dosed. We look forward to growing together with BiaoXin Biotechnology and achieving more milestones.”

Wu Liangzi, Project Leader of the Sinan Yuanke Fund“It is believed that BiaoXin Biomedical Technology (Shanghai) Co., Ltd. has grown out of the Lingang New Area. Professor Yang Xiaobao, the founder, and his team have accumulated extensive expertise in the fields of molecular glues and PROTAC technology. The clinical advancement of their pipeline for multiple myeloma and non-Hodgkin lymphoma has demonstrated robust clinical data. We look forward to BiaoXin Biomedical accelerating its pipeline development and bringing its products to market as soon as possible, thereby benefiting patients both domestically and internationally. Shanghai Sinan Yuanke Private Equity Fund Management Co., Ltd., a private equity fund manager under the Shanghai Lingang Group focused on early-stage sci-tech innovative enterprises, is dedicated to incubating and nurturing innovative companies in frontier technology sectors and building an industrial innovation ecosystem. This investment in BiaoXin Biomedical by a fund under Sinan Yuanke represents a strategic focus in the field of novel drug development based on protein degradation.”

Huangpu Biomedical Fund is a professional private equity investment management firm. Its primary sponsors include Guangzhou Development District Holding Group, Leading Capital, BeiGene, and Guoju Venture Capital. The fund focuses on investments in the life sciences and healthcare sectors, with extensive investment layouts in areas such as biologics, innovative medical devices, and synthetic biology. Leveraging BeiGene’s R&D strengths in biologics, the funds under its management are based in the Guangdong-Hong Kong-Macao Greater Bay Area, integrating academic resources from China and around the world. They specialize in incubating projects in life sciences, innovative healthcare, and synthetic biology, jointly developing and launching exceptional products. The fund aims to foster collaborative innovation and make positive contributions to humanity’s fight against diseases and the promotion of health and well-being.

Nanwan Baiao Fund is a specialized healthcare fund under Lidings Capital, focusing on investments in the life sciences and healthcare sectors. The fund has extensive investment holdings in areas such as biologics, in vitro diagnostics (IVD), and innovative medical devices. Committed to incubating and empowering early-stage life science and innovative healthcare projects, the fund works closely with outstanding entrepreneurs to co-create world-class products, contributing to the fight against disease and the advancement of human health.

Guangdong Yuemin Private Equity Fund Management Co., Ltd. is the sole controlling equity investment platform under Guangdong Private Investment Co., Ltd. (established with the promotion of the Guangdong Provincial Government). Its key investment sectors include life sciences, new energy, broad consumer goods, and agriculture. Guided by the mission of “identifying high-quality enterprises and supporting their growth,” the company is committed to providing long-term wealth management services for investors.

Sinan Yuanke Fund is a market-oriented series of sci-tech innovation funds jointly established by Lingang Group and professional capital, serving early-stage sci-tech enterprises through the creation of a technology incubation system. Focusing on frontier technology sectors and targeting industries with long growth trajectories and substantial potential, Sinan Yuanke Fund incubates and nurtures innovative enterprises to build an industrial innovation ecosystem. In the life sciences sector, the fund prioritizes investment in and incubation of early-stage innovative pharmaceuticals, high-end medical devices, and smart healthcare solutions, effectively empowering startups.