Hope Medicine Secures Nearly RMB 200 Million in Series B+ Financing Led by Wuxi Capital

VCBeat has learned at the earliest opportunity,HOPE MEDICINE (Hope Medicine Inc. (hereinafter referred to as “Heqirui”)Announced the completion of its Series B+ financing round, raising nearly RMB 200 million. This round of financingbyWuxi Capital Group, Dingpei GroupCo-lead Investor，Huairou Science City,ENNOVATION VENTURESSandZhongyin InvestmentCo-investment, Existing ShareholdersTrust Bridge Partners, Yuanyi, Qiming Venture PartnersandInnovation WorksContinue to provide support.

This round of financing will provide strong support for the two ongoing international Phase II clinical trials of HMI-115, a monoclonal antibody and core asset of Hope Medicine, as well as for the research and development of the company’s other product pipelines.

Image provided by HOPE MEDICINE (HK) LIMITED

HOPE MEDICINE is a science-driven, clinical-stage innovative biopharmaceutical company with R&D centers and offices in Beijing, Shanghai, and Nanjing, China. The company is built upon the profound understanding and decades of research achievements in translational medicine by Professor Xiao Ruiping, Dean of the School of Future Technology at Peking University, and his team.Established. Grounded in outstanding scientific research and committed to improving quality of life, it focuses on common and major diseases that threaten human health, dedicating itself to the research, development, and commercialization of first-in-class novel drugs.

Currently, Hope Medicine is conducting global development and commercialization across multiple indications in accordance with a global exclusive license agreement signed with Bayer AG for the monoclonal antibody HMI-115, which targets the prolactin receptor (PRLR). It is reported that Phase II global clinical trials of HMI-115 for endometriosis and androgenetic alopecia are currently underway and progressing smoothly.

Recently,Hope Medicine also announced the results of a Phase Ib clinical study for the treatment of androgenetic alopecia. In this trial, HMI-115 demonstrated positive efficacy outcomes, along with a favorable safety and tolerability profile.

In addition to HMI-115, a protein drug targeting MG53, a novel therapeutic target, was introduced from Peking University. This initiative is based on Professor Rui-Ping Xiao’s groundbreaking research on MG53 and its mechanism of action at the Institute of Molecular Medicine, School of Future Technology, Peking University. Preclinical studies have demonstrated that this new targeted therapy exhibits promising efficacy in indications such as acute myocardial infarction.

Core Pipeline of HOPE MEDICINE. Image source: HOPE MEDICINE official website

Professor Xiao Ruiping, Founder of HOPE MEDICINEstated: “We extend our sincere gratitude to both new and existing investors for their full trust and support, which have empowered HOPE MEDICINE （HK） LIMITED to move forward with confidence. We aim to accelerate the clinical development of HMI-115, bringing it to the global market as soon as possible to benefit patients. Remaining true to our original mission, we will continue to drive new drug discovery through source innovation, expedite the global clinical development of other pipeline products, and strive to provide more innovative therapeutic options for patients worldwide.”

Mr. Chen Xi, CEO of Hope MedicineIndicates:“Our core pipeline asset, HMI-115, is currently undergoing two China-centric global multi-center Phase II clinical trials, with the goal of obtaining complete proof-of-concept results by the end of 2024. This financing will significantly facilitate the conduct of these two Phase II trials and subsequent clinical R&D, while also providing strong support for the clinical development of other in-house pipeline products. The successful fundraising has greatly boosted team morale; we are fully committed to delivering on expectations.”

Fu Haiying, Executive Director of Biopharmaceutical Investment at Wuxi Capital Group“Hair loss and women’s health represent areas with significant unmet clinical needs, which remain a key focus for Wuxi Capital Group’s biopharmaceutical investments. We look forward to Hope Medicine leveraging its novel mechanism of action to address the limitations of existing therapies, thereby bringing new benefits to a broad patient population. As a strategic investor in Hope Medicine, Wuxi Capital Group will continue to provide sustained, professional support through capital infusion and industrial empowerment.””

Andrew Ng, Head of Healthcare Investment at Dingpei GroupHOPE MEDICINE (HK) LIMITED stated: “HOPE MEDICINE possesses a unique platform for translational research in source innovation and has a profound understanding of disease mechanisms. The company’s R&D pipeline covers indications with significant unmet clinical needs, including women’s health and hair loss, offering extremely broad prospects. The development of its core pipeline and multiple preclinical candidates further demonstrates the company’s R&D capabilities. Dingpei believes that HOPE MEDICINE’s core products and technological capabilities will continue to drive the company’s growth and expansion. As a key industrial strategic investor in HOPE MEDICINE, Dingpei will provide comprehensive support in areas such as funding and manufacturing enablement, helping the company achieve substantial long-term development.”

Wuxi Capital Group is a state-owned venture capital institution integrating seed, angel, venture, equity, M&A, and S funds, with total assets under management exceeding RMB 240 billion. Deeply rooted in the life and health sector, the company has established a comprehensive fund system covering the entire lifecycle of biopharmaceutical and healthcare enterprises—from seed and angel stages to VC and PE—delivering both capital and synergistic industrial resources to its portfolio companies. Its specialized and diversified biopharmaceutical investment team has made strategic layouts in innovative drugs, biotechnology, and medical devices. Portfolio companies such as Ruiyue Biopharma, Xiantong Medicine, and Jianshi Medical are all industry leaders with dominant technological advantages in their respective niches.

Dingpei was established in 2006 and has built close partnerships with various types of investors over the years, including renowned family offices and institutions. Dingpei primarily focuses on three alternative investment strategies: private equity, real estate, and structured finance. As of December 31, 2023, its assets under management (AUM) exceeded USD 4 billion. Additionally, through strategic cooperation models, the Group invests in and supports multiple external managers covering strategies such as venture capital and hedge funds, with AUM in this segment reaching USD 6 billion.