Myeloid Cure Biotechnology Secures Tens of Millions in New Financing to Advance Macrophage-Targeted Novel Drug Pipeline

VCBeat has learned that Hangzhou Medimscience Biomedical Technology Co., Ltd. (Medimscience) recently announced the completion of a new round of financing amounting to tens of millions of RMB. As an emerging biotechnology company, Medimscience is the first in China to focus on developing biologics targeting novel macrophage-related targets within the tumor microenvironment. Drugs targeting macrophages can enhance their phagocytosis of tumor cells, recruit and activate downstream effector T cells, and reprogram the tumor immune microenvironment, thereby achieving the treatment or even complete cure of solid tumors. This approach significantly addresses the limitations of existing oncology drugs and therapeutic modalities. This round of financing was exclusively led by Ming Bioventures, with continued investment from existing shareholder CoWin Ventures. The raised funds will be primarily used for the research and development of new targets and product pipelines, as well as for product registration and clinical trial applications.

The tumor immune microenvironment serves as the soil for the initiation and progression of solid tumors and determines the efficacy of tumor immunotherapy. Extensive research indicates that the majority of clinical solid tumors are “cold tumors,” characterized by sparse T-cell infiltration and abundant infiltration of myeloid cells, such as macrophages. Tumor-associated macrophages (TAMs) help tumors evade immune surveillance, suppress the tumor-killing activity of T cells, and even facilitate the formation of physical barriers that inhibit T-cell infiltration. Currently, numerous emerging biotechnology companies worldwide, including Pheast Therapeutics and Verseau Therapeutics, are strategically positioning themselves in the field of novel macrophage targets and have secured substantial early-stage investment. As an emerging biotechnology company in China, Medimscience is committed to developing novel macrophage targets and new drugs through source innovation in basic science, maintaining a leading position in the field of novel macrophage targets.

Dr. Yuan Hong, Founder and CEO of Medimscience“We are grateful to Ming Bioventures for its recognition of the Medimscience team. Currently, biopharmaceutical companies in China engaged in source innovation remain relatively scarce. Since its inception, Medimscience has been committed to original innovations in tumor immunology theory, focusing on the discovery of novel macrophage targets and validation of new mechanisms. Leveraging the theory of ‘tumor immune microenvironment reprogramming,’ we are developing novel anti-tumor drugs to address challenges such as the low response rates associated with PD-1 blockers. To date, our candidate drugs targeting novel targets have demonstrated tumor regression and cure in experimental animal models, and several of our R&D products have entered the druggability evaluation stage. We look forward to advancing these products into clinical trial applications in the next phase, accelerating their clinical translation to benefit patients worldwide.”

Dr. Shi Yongling, Partner at Ming Bioventures“Tumor immunotherapies, exemplified by PD-1 inhibitors, have ushered in a new era of cancer treatment. However, challenges such as low response rates and failures in the development of multiple indications remain. The research and development of novel drugs targeting new immune checkpoints holds promise for expanding the boundaries of tumor immunotherapy. The team at Medimscience is dedicated to discovering novel macrophage targets and developing corresponding new drugs. The founding team brings over a decade of experience in basic research and industrialization, ensuring high project execution efficiency. They have established comprehensive platforms for target discovery, mechanism elucidation, drug discovery, druggability assessment, and CMC (Chemistry, Manufacturing, and Controls), achieving multiple innovative findings and milestone progress in drug development. Ming Bioventures is pleased to have the opportunity to support Medimscience’s growth at an early stage. We firmly believe that the company will achieve breakthroughs in macrophage-mediated tumor immunotherapy, address unmet clinical needs, and benefit more cancer patients.”

Dr. Huang Xin, Managing Partner of CoWin Ventures“He stated: ‘The current development landscape in China of tumor immunotherapy targets represented by PD-1 and CD47 demonstrates that the industry continues to pursue the development of novel-target drugs driven by innovative mechanisms. The Medimscience team possesses internationally original scientific discovery capabilities, profound expertise in biological investigation, and rich, mature experience in industrial translation, positioning it well to develop truly first-in-class therapeutics. We at CoWin Ventures are pleased to further increase our investment in Medimscience, supporting the journey from original mechanism discovery to industrial translation, thereby addressing unmet clinical needs and benefiting a broad patient population.’”

Ming Bioventures focuses on early-stage venture capital investments in the life sciences sector. Since its establishment in 2018, it has invested in over 40 startups spanning innovative drugs, biotechnology, and medical devices (including diagnostics). Always grounded in China while addressing global clinical unmet needs, Ming Bioventures is dedicated to partnering with outstanding enterprises, providing comprehensive services, and supporting their growth journey.

CoWin Ventures is a China-US dual-currency venture capital firm focused on investing in early-stage technology companies, fostering a team culture of equality, transparency, sharing, and innovation. Established in 2009, the firm primarily focuses on healthcare and IT hard-tech sectors, with cumulative assets under management exceeding RMB 5 billion. It has provided financial and resource support to more than 100 outstanding teams and projects. CoWin Ventures has facilitated the successful public listings of over ten high-tech enterprises, including Conatus Pharmaceuticals (NASDAQ: CNTB), Thrive Earlier Detection Corp. (NASDAQ: EXAS), InnoLight Technology (300308), MemSensing Microsystems (688286), Huaxing Zhiyuan (000008), and Aolian Electronics (300585). Additionally, it has empowered numerous companies such as Taimei Medical Technology, Geneseeq Technology, Huake Precision, and Maxphotonics to stand out in their respective niche markets.