Baimai Biopharma Secures Over RMB 100 Million in Funding This Year to Advance Innovative Oncology Pipeline and Drug Delivery Platforms

VCBeat has learned that Suzhou Baimai Biopharmaceutical Co., Ltd. recently completed a capital increase, led by Gongshan Fund, with participation from Shanfeng Fund and the Park Science and Technology Innovation Fund. Thus, Baimai BiopharmaSecured Over RMB 100 Million in Funding This Year, with investors including well-known venture capital firms such as Linghang Xinjie and Yuansheng Venture Capital.The aforementioned financing proceeds will be used to advance the development of the company’s pipeline and the construction of its technology platform, facilitating its transformation into an internationally leading biopharmaceutical technology platform company.

With the continuous development of interdisciplinary fields such as materials science and nanotechnology, the application potential of biomaterials in new drug research and development is gradually becoming evident.HangZhou KBM life sciences Co.,Ltd. is a company dedicated to applying biomaterials technology to the research and development of innovative drugs.Addressing clear clinical needs, leveraging interdisciplinary strengths, and pursuing a differentiated R&D strategy. Current key R&D focuses are on immuno-oncology therapeutics and innovative drug delivery carriers, aiming to empower new drug development with biomaterials technology.

Currently,The clinical trials of the company’s first drug, BM201, have received support from multiple clinical hospitals and renowned researchers, with the first patient enrollment imminent.The company has also made strategic investments in disruptive innovative technologies. BM501, developed by HangZhou KBM Life Sciences Co., Ltd., is an “oncolytic mineralized bacterium” that can “sequentially” activate both innate and adaptive immune responses through multiple pathways. While ablating tumors, it simultaneously generates an “endogenous tumor vaccine” in vivo. This project was awarded at the finals of the China National Disruptive Technology Competition. In addition, the company’s R&D progress on bladder instillation immunotherapy drugs and TACE interventional drugs for liver cancer treatment is proceeding smoothly. The company is also expanding its research into macromolecular drug delivery and has established preliminary business collaborations with macromolecular drug development enterprises, aiming to address the challenge of delivering protein-based drugs across major biological barriers via needle-free nanocarriers.

Professor Liu Zhuang, Founder of KBM BiologicsHe stated, “We extend our sincere gratitude to the Gongshan Fund, Shanfeng Fund, the Park Science and Technology Innovation Fund, and KBM’s early-stage investors for their trust and support! Despite the current market downturn, KBM has successfully secured three consecutive rounds of financing this year, reflecting the investment community’s recognition of KBM team’s original innovation capabilities and support for its differentiated new drug R&D strategy. Moving forward, the KBM team will remain committed to an interdisciplinary approach, leveraging biomaterials technology to empower new drug development, achieving a seamless transition from original innovation to industrial application, with the ultimate goal of addressing patients’ unmet clinical needs.”

Liang Yicheng, Partner at Gongshan FundIndicates: Supporting outstanding technological talents in their entrepreneurial ventures has always been the goal of the Gongshan Fund team. As a renowned scholar in his field, Professor Liu Zhuang founded KBM Life Sciences, which applies innovative biomaterials to disease treatment and drug delivery, undoubtedly benefiting more people. This aligns with our fund’s mottos: “A craftsman must sharpen his tools to do his work well” and “Technology for Good.” We greatly appreciate the KBM Life Sciences team for their professionalism, dedication, and cohesive, upward-looking spirit. It is our honor to lead this round of financing, and we look forward to further collaboration and achievements.

Tao Shanshan, Head of Investment Department I at Lingshan Capital, stated: Based on its core biomaterials platform, KBM Life Sciences has pioneered an innovative approach to developing highly novel oncology drugs and therapeutic technologies in other fields. This strategy effectively addresses the pain points of current clinical cancer treatments and holds significant potential for clinical adoption. Leading Capital greatly appreciates the innovative spirit of the company’s founder and team, is optimistic about the prospects of its platform, and notes that collaboration with KBM Life Sciences further enhances the biopharmaceutical industry ecosystem in Suzhou Industrial Park, thereby boosting regional innovation capabilities. Moving forward, Leading Capital will continue to integrate resources from various parties to jointly support the rapid development of KBM Life Sciences.

Lingjun Venture Capital was established in December 2012 and is wholly owned by the Suzhou Industrial Park Enterprise Development Service Center. It is currently the largest policy-oriented angel investment institution in Suzhou Industrial Park. The capital contributor for this initiative, the Park Science and Technology Innovation Fund, was jointly established with Lingjun Venture Capital serving as the General Partner (GP) and the Finance and Audit Bureau of Suzhou Industrial Park as the Limited Partner (LP). The first phase of the fund has a total size of RMB 1.5 billion, focusing on key strategic emerging industries such as biopharmaceuticals, nanotechnology applications, and artificial intelligence, to support technology-based and innovative enterprises within the park in achieving greater scale, quality, and strength.