Nanjing Qingpu Bio Completes Over RMB 100 Million Series B+ Financing to Accelerate Commercialization of Core Products, Advised by Kaicheng Capital

VCBeat has learned that,Nanjing Delova Biotech Co., Ltd. (hereinafter referred to as “Nanjing Delova Biotech” or the “Company”) recently announced the completion of its Series B+ financing round, raising over RMB 100 million. Investors included Zhongqi Capital, Hyfinity Investments, and SJ Jiacheng Venture Capital. WinX Capital served as the exclusive financial advisor for this round. This marks another significant milestone following Nanjing Delova Biotech’s completion of its Series B financing round, which raised over RMB 100 million in early 2023.

Pain is a complex psychophysiological process and one of the most common clinical symptoms. As the “fifth vital sign,” following blood pressure, respiration, pulse, and body temperature, it is receiving increasing attention. With population aging and rising expectations for quality of life, pain management has become a major healthcare need in modern society. Although controlled analgesics represented by opioids provide significant pain relief, they are not the optimal clinical choice due to their addictive potential and other serious side effects. Notably, some countries, exemplified by the United States, have experienced a severe “opioid crisis” driven by opioid misuse. Consequently, the development of potent, safe, and long-acting non-opioid analgesics has become a primary trend in global novel analgesic drug development.

Nanjing Delova Biotech focuses on the pain management sector with a global footprint, dedicated to addressing clinical needs in pain care through technological and clinical innovation. Since its inception, the company has comprehensively developed novel analgesics for various acute and chronic pain indications and clinical medication scenarios. Leveraging its professional team and efficient execution capabilities, it has consistently exceeded expectations by achieving domestic and international R&D and regulatory milestones within just a few years.

The proceeds from this financing round will be used to accelerate the commercialization of the company’s first product and advance R&D across its pipeline. The company’s lead product, QP001, is the first 24-hour long-acting non-steroidal anti-inflammatory drug (NSAID) injection in China, indicated for moderate to severe postoperative pain. It is currently under New Drug Application (NDA) review in both China and the United States, and the company is actively preparing for the commercial launch of QP001. QP001 is the first novel analgesic from China to have its NDA accepted by the U.S. Food and Drug Administration (FDA) and has been granted an FDA “Application Fee Waiver.” The second product, QP002, is the first long-acting novel analgesic for postoperative pain in China that can be administered via infusion. Its completed Phase I/II clinical trials have yielded positive results, and preparations are underway for Phase III clinical trials.

Wang Qingsong, Founder and CEO of Delova BiotechStatement: We are delighted to have received support from Zhongqi Capital, Hyfinity Investments, and SJ Jiacheng Venture Capital. We extend our gratitude to both new and existing shareholders for their recognition and express our excitement over the company’s various achievements in the past year. We look forward to delivering more comfortable and safer clinical solutions to patients through our persistence and innovation. We will continue to adhere to our clinical- and science-driven R&D philosophy, deepen our efforts in developing novel drugs for pain management, and continually address unmet clinical needs in the field of pain, with the vision of a world free from pain.

Xie Pengfei, Head of the Biopharmaceutical Sector at Zhongqi CapitalIt indicates that, from a global perspective, the success rate of developing new analgesic drugs is low, with few new products launched in the past two decades. Delova Biotech has skillfully entered the market through innovative delivery systems, finding a balance between clinical advantages and commercial value. The company’s excellent product strategy and efficient team execution have enabled rapid growth, allowing its products to stand out among numerous analgesics. In Delova’s subsequent product pipeline, we also observe the company’s unique product strategy, which enables it to carve out a distinct niche in drug innovation models. We are pleased to become shareholders of Delova Biotech in this round and are committed to growing alongside the company, practicing diverse models of drug innovation in China.

Sun Wei, Partner at Hyfinity InvestmentsStatement: We are delighted to support the growth of Delova Biotech. Nanjing Delova Biotech has deeply cultivated the pain management field, possessing a profound understanding of clinical analgesic needs in both China and the United States, and has independently developed a series of internationally leading novel analgesic drugs. At a time when China’s biopharmaceutical industry is characterized by high homogeneity and intense competition, alongside cyclical downturns in capital markets, Nanjing Delova Biotech has continuously gained recognition and support from professional investment institutions thanks to its keen clinical innovation capabilities, solid foundation, and efficient execution. It has already emerged as a benchmark biotech company in the domestic pain management sector. Hyfinity Investments will accompany Nanjing Delova Biotech on its long-term growth journey, firmly supporting its development into a leading global pharmaceutical company specializing in novel pain management therapies, thereby benefiting more patients.

Liu Haofei, Founding Partner of SJ Jiacheng Venture CapitalIt is noted that there are significant differences between the analgesic markets in China and the United States. Led by Dr. Qing Song, the Delova Biotech team possesses a deep understanding of the characteristics of the Chinese analgesic market and has extensive practical experience in R&D, clinical development, and business development (BD). Over the past few years, the team has demonstrated highly efficient clinical trial execution and, notably, showcased the innovative nature of its pipeline products, helping to secure a competitive advantage. As China’s national trajectory continues to rise, residents’ demand for chronic pain relief and their ability to pay will steadily increase, opening up long-term growth opportunities for Delova Biotech in the analgesic market. We look forward to the early market launch of QP001 and other series products, bringing improved clinical experiences to more patients.

Dr. Zou Guowen, Founding Partner of WinX CapitalStatement: We extend our sincere gratitude to the Delova Biotech team for their trust in WinX Capital, and to all new and existing shareholders for their strong support. As a close friend of Dr. Wang Qingsong for over a decade, I am honored to have facilitated the company’s completion of this financing round. Globally, there is a significant unmet clinical need in pain management. The development of analgesics that simultaneously balance efficacy, safety, and patient compliance will benefit a vast number of patients. We are confident that, leveraging its outstanding foundational R&D capabilities and efficient team execution, the company will rapidly bring superior therapeutic solutions to market, benefiting patients in China and around the world.

Nanjing Delova Biotech Co., Ltd., established in 2017 and headquartered in Nanjing, is a biotechnology company focused on the development of non-addictive novel drugs in the pain management field. Guided by unmet clinical analgesic needs in the global market, the company aims to provide patients with non-opioid, long-acting, and potent products, leveraging scientific innovation to enhance human health and quality of life. Based on multiple proprietary technology platforms—including poor drug solubility enhancement technologies, a series of sustained- and controlled-release injectable formulations, and topical in situ film-forming transdermal delivery technologies—the company has developed a pipeline of novel analgesic drugs that demonstrate significant clinical advantages over both globally marketed and investigational products.

Currently, the company has established a comprehensive new drug R&D team covering early-stage innovative drug discovery, pharmaceutical development, pharmacology and toxicology, clinical trials, and regulatory affairs. The team comprises nearly 60 full-time employees with extensive experience in business development (BD) collaborations, project initiation, complex formulation research, clinical studies, and regulatory submissions. It has developed a distinctive, proprietary, high-barrier platform technology for long-acting sustained-release injectables, capable of achieving sustained drug release in vivo over periods ranging from days to weeks or even months.

Zhongqi Capital is a market-oriented private equity investment management firm, with its investment focus primarily on materials science, life sciences, advanced manufacturing, and other sectors. Guided by the mission of “Empowering Growth, Achieving Mutual Success,” the company currently manages and is in the process of establishing funds totaling over RMB 4 billion. Its senior executives and core management team comprise professionals with extensive experience in industry management and capital markets, hailing from leading industrial enterprises, top-tier private equity firms, securities companies, law firms, and the Big Four accounting firms. The team possesses profound industry insights, abundant industrial resources, professional investment management expertise, and an outstanding track record of historical investment performance.

Hyfinity Investments brings together a senior team from China’s leading investment institutions and possesses extensive experience in startup operations, the localization of overseas technologies in China, and industry resources. Committed to integrating global medical technology innovations and focusing on the upgrading of China’s healthcare industry, Hyfinity is dedicated to pooling resources and providing robust support to help Chinese enterprises become industry leaders.

SJ Jiacheng Venture Capital / SJ Network was founded in 2007. With RMB 13 billion in assets under management, its direct investments and fund-of-funds have yielded 232 successful global IPOs. Focusing on technological innovation sectors such as healthcare, new energy, semiconductors, and artificial intelligence, it is a well-known new-economy enterprise empowerment and acceleration platform in China.

WinX Capital is a leading investment bank in China’s healthcare sector, with headquarters in Beijing and Shanghai, covering over 3,000 active institutional investors and industrial groups. It has received numerous accolades, including being ranked No. 1 Financial Advisor in the Healthcare Sector for 2022 and 2023 by First New Voice; Top 2 Best Financial Advisor in the Healthcare Sector for 2021–2022 by Qimingpian & New Voice Innovation Services; and Top 5 Healthcare Financial Advisor of the Year at the 2022–2023 Pengcheng Awards by VCBeat.