Baimai Biopharma Secures Over RMB 50 Million in Series A Financing Led by LH Ventures to Advance Oncology Immunotherapy Pipeline

Recently,Suzhou Baimai Biomedical Co., Ltd. Announces Completion of Over RMB 50 Million in Series A Financing, Exclusively Invested by LH Ventures. The proceeds from this financing round will be used to advance the research and development and clinical trials of the company’s oncology immunotherapy pipeline, build out other platform technologies, further strengthen the R&D team, and expand R&D facilities.

Suzhou Baimai Biomedical Co., Ltd. was founded in 2019 by Professor Liu Zhuang of Soochow University. The company builds upon the founder’s decade-long accumulation of interdisciplinary fundamental research in the field of biomaterials,Focusing on the R&D and Translation of Innovative Oncology Immunotherapy Drugs, the company has also established R&D initiatives in areas such as novel interventional oncology therapies and new macromolecular carriers capable of crossing biological barriers, committed to delivering valuable, breakthrough innovations that address clinical needs.

Since 2021, the R&D of Suzhou Baimai Biomedical Co., Ltd. has entered a fast track.Currently, the company has secured a license-out partnership for an early-stage product and has obtained IND approval for its internally developed pipeline candidate BM201, which is poised to enter Phase I clinical trials.The development of BM501, an oncolytic mineralized bacterium that has garnered significant attention due to the National Disruptive Technology Competition, is also proceeding smoothly.

Baimai Biomedical’s Current Pipeline Portfolio and Development Progress

Over the past year, Suzhou Baimai Biomedical Co., Ltd. has achieved gratifying progress in technological innovation, system improvement, product development, and business collaboration. The company will continue to adhere to robust scientific fundamentals, address clinical needs, and leverage biomaterials technology to conduct distinctive innovative drug R&D. We sincerely thank our investors for their trust and support.

Professor Liu Zhuang, founder of Baimai Biomedical, stated“Thank you to LH Ventures for your trust! The closing of our Series A financing, coinciding with the IND approval of our first pipeline candidate, marks a new phase of development for Baimai. Looking ahead, we will remain committed to leveraging our unique biomaterials technology platform to pursue innovative drug development through distinctive approaches, steadfastly adhering to a differentiated growth strategy aimed at truly addressing unmet clinical needs.”

Dr. Xie Xin, Partner at LH Ventures, stated“Suzhou Baimai Biomedical Co., Ltd. has established a comprehensive portfolio in tumor immunotherapy, novel interventional oncology therapies, and transmembrane macromolecule delivery. In particular, the company brings a unique perspective to tumor immunotherapy; its concepts of endogenous tumor vaccines and disruptive oncolytic mineralized bacteria are well supported by robust preclinical data, making their clinical efficacy highly anticipated. We are delighted to have the opportunity to collaborate with Baimai.”

LH Ventures, established in 2018, currently manages multiple RMB and USD funds with assets under management totaling RMB 2.5 billion. Backed by an experienced management team, the firm has helped numerous portfolio companies achieve successful listings on the A-share market and NASDAQ, delivering internal rates of return (IRR) that rank among the top in the industry. With a global perspective, LH Ventures specializes in value-added investment and adheres to long-term value investing principles, focusing strategically on key sectors such as intelligent technology and biomedicine. Operating across China and the United States, the firm leverages capital to drive industrial consolidation and has built a comprehensive ecosystem around core industries in China.