Kangpu Biopharma Secures Nearly RMB 100 Million in Series B+ Financing to Advance Molecular Glue Pipeline, WinX Capital Serves as Exclusive Financial Advisor

Recently, Kangpu Biomedical Technology (Hefei) Co., Ltd. (hereinafter referred to as “Kangpu Biomedical”) announced the completion of its Series B+ financing round, raising nearly RMB 100 million. The round was led by V Capital Co., Ltd., with continued support from existing investors Northern Light Venture Capital, LapamCapital, Yijing Capital, Ruihe Capital, and Ginkgo Valley Capital. Kaicheng Capital served as the exclusive financial advisor. The proceeds from this financing will be primarily used to accelerate the clinical development of two internationally leading molecular glue–protein ubiquitination degradation products, as well as to advance the preclinical research of multiple pipeline candidates.

Kangpu Biopharmaceuticals is a clinical-stage innovative biopharmaceutical company. The company boasts a senior expert team and an operations team with extensive experience, an international perspective, and deep industry expertise in innovative drug development. Driven by innovation and focused on therapeutic areas including cancer, autoimmune diseases, and inflammation, Kangpu Biopharmaceuticals leverages its internationally leading next-generation molecular glue–protein ubiquitination and degradation technology, NeoMIDES.^®and SelPDEiS^®、X-SYNERGY^®Based on proprietary patented technologies, we are committed to developing innovative small-molecule targeted immunomodulatory drugs with global independent intellectual property rights.

Dr. Ge Chuansheng, Founder, Chairman, and CEO of Kangpu Biomedicalstated, “We are deeply grateful for the strong endorsement of our R&D achievements and growth potential by the investors in this round, as well as the continued steadfast support from our existing shareholders. The proceeds from this financing will accelerate the international clinical development of our core products and further solidify our leading position in technological fields such as molecular glue-mediated targeted protein degradation via the ubiquitin-proteasome system. We look forward to close collaboration with our investors and pharmaceutical partners to further expedite the global rollout of our products, thereby benefiting patients worldwide at the earliest possible time.”

Zhao Jianghua, Partner at V Capitalstated: “Kangpu Biopharma focuses on the R&D of next-generation molecular glue-based small-molecule drugs for targeted protein ubiquitination and degradation. Its pipeline ranks among the top tier globally, with the potential to break the decade-long monopoly held by BMS/Celgene in this field. The U.S. Phase IIa clinical trial of KPG-818 for the treatment of systemic lupus erythematosus completed full patient enrollment in March 2023. KPG-121 is planned to initiate a global, multicenter, registrational Phase II/III clinical trial in the United States for the treatment of metastatic castration-resistant prostate cancer. In addition, several other pipeline candidates are poised to enter clinical stages sequentially. V Capital Co., Ltd. looks forward to the rapid clinical advancement of Kangpu Biopharma’s pipeline, thereby benefiting more patients.”

Dr. Zou Guowen, Founding Partner of Kaicheng CapitalHe stated, “We sincerely appreciate the trust placed in Kaicheng Capital by the Kangpu Biomedical team, as well as the strong support from both new and existing shareholders. It is our honor to have facilitated the company’s completion of this financing round. Dr. Ge Bo, the founder of Kangpu Biomedical, possesses extensive experience in the research and development of molecular glue therapeutics and has been deeply involved in the R&D processes of blockbuster drugs such as lenalidomide, pomalidomide, and apremilast. Kangpu Biomedical has currently established a portfolio of differentiated molecular glue products. We believe that under Dr. Ge’s leadership, Kangpu Biomedical will emerge as a leading enterprise in China’s molecular glue sector and achieve a prominent position in the global field of targeted protein degradation.”

V-Capital is an asset management company specializing in investment and mergers and acquisitions (M&A). Since its establishment in 2015, it has adopted a “M&A + Venture Capital” business model, focusing on investment sectors such as TMT/new economy, healthcare, new energy/intelligent manufacturing, semiconductors, and enterprise digitalization. Its investment scope covers M&A, full acquisitions of private companies, management buyouts (MBOs), and privatization of overseas listed companies, aiming to provide investors with customized, professional, and distinctive financial services. As of mid-2022, the assets under management (AUM) of the V-Capital platform exceeded RMB 22 billion.

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