Hefei Tiangang ImmunoPharma Secures Hundreds of Millions RMB in Pre-A Financing to Advance Original Innovation in Tumor-Targeted Immunotherapies

Hefei Tiangang Immunopharmaceutical Co., Ltd., a hidden unicorn in the field of tumor immunotherapy, recently announced the completion of its Pre-A financing round, raising hundreds of millions of RMB. The round was co-led by CASSTAR and INNOVAL CAPITAL, with participation from several well-known investment institutions including Hefei Industrial Investment, Efung Capital, TIANTU CAPITAL, and Guoyuan Innovation Investment. The funds raised will be used to advance the research, development, and registration of multiple product pipelines in tumor immunotherapy.

Hefei Tiangang Immunopharmaceutical Co., Ltd. was established in 2020 as a high-tech enterprise dedicated to the development of original innovative immunotherapeutic drugs. The company’s R&D team is among the global leaders in NK cell research, having been among the first internationally to discover and validate multiple NK cell immune checkpoints. The team’s research achievements are at the international forefront of the NK cell field, establishing distinct advantages in the development of NK cell-targeted immunotherapy technologies and products. The company has planned multiple series of technologies and products, covering: immune checkpoint inhibitors; bispecific/multifunctional antibody analogs; targeted antibody-drug conjugates; and immunomodulators. Eleven invention patents have been filed, and several products have completed preliminary R&D, poised to enter the fast-track pathway for product registration and market launch. Furthermore, the company possesses nearly 6,000 square meters of R&D facilities, equipped with specialized experimental capabilities including laboratory animal resources, GMP-compliant recombinant protein production, and NK cell detection and analysis.

Xiao Weihua, Co-Founder of Hefei Tiangang ImmunoPharma Co., Ltd., stated, “Although our company was established relatively recently, we are highly confident in achieving our strategic goals and becoming a leader, pioneer, and driver in the field of cancer immunotherapy. The successful completion of this financing round has laid a more solid foundation for the company’s subsequent leapfrog development. As the growth of innovative biologics outpaces that of the overall pharmaceutical market, we will adhere to our philosophy of ‘Decoding Innate Immunity, Piloting Pharmaceutical Innovation,’ persist in source innovation, focus on R&D, stay anchored to our objectives, and continuously advance the development and translation of immune-targeted therapeutics.”

CASSTAR focuses on investing in "hard tech." It established its healthcare investment team in 2013, primarily targeting R&D and manufacturing enterprises in the upstream and midstream segments of the pharmaceutical and medical device industries. To date, it has invested in more than 30 early-stage companies. Its portfolio includes Kekai Life, Bodong Medical, Wushuang Medical, CAS Microlight, Chuanshi Biology, Shenxin Biology, and Zehui Biology. CASSTAR’s healthcare investment arm has actively explored the commercialization of academic research achievements; among its portfolio companies, more than ten were incubated by institutions such as the Chinese Academy of Sciences, Peking University, Tsinghua University, Westlake University, and Shanghai Jiao Tong University.

INNOVAL CAPITAL, established in January 2018, is a market-oriented equity investment fund management company under Anhui Investment Group. Focusing on key industries such as big health, TMT, intelligent equipment, and new materials, INNOVAL CAPITAL has built a full-lifecycle fund cluster spanning angel investing, venture capital (VC), private equity (PE), and mergers and acquisitions (M&A). To date, it manages 21 funds with assets under management exceeding RMB 8.7 billion. In the big health sector, its investment portfolio includes Bloomage Biotechnology, Yifan Pharmaceutical, Honghe Renai Medical, CASSTAR Tuoran, Sundia MediTech, Lianchuang Biology, Heyi Pharmaceutical, Qihao Medical, Inluo Medical, and Happy Factory, among others.

Hefei Industry Investment Group’s subsidiary, Hefei Industry Investment Capital, aligns its strategic layout with the city’s leading industries, focusing on sectors such as integrated circuits, flat-panel displays, new energy vehicles, and biopharmaceuticals. The firm manages 22 funds, with independently managed fund assets exceeding RMB 10 billion. It has cumulatively supported 220 projects, with a total investment amounting to RMB 21.993 billion. In the biopharmaceutical sector, it has successively invested in Haisheng Biopharma (acquired by Takeda), Hefei Qihao, Haina Technology, Kangnuo Pharmaceutical, Jingze Biotechnology, Ruishi Technology, Sailuo Medicine, and Xingmou Biotechnology, injecting capital momentum into the development of biopharmaceutical enterprises in Hefei.

Efung Capital is among the earliest specialized biomedical investment firms in China, focusing on global venture capital (VC) and private equity (PE) investments in the biopharmaceutical sector. It has conducted rigorous screening and invested in high-quality domestic and international enterprises, including Chipscreen Biosciences, Frontier Biotechnologies, Ascentage Pharma, Pumen Technology, Harbour BioMed, Obio Technology, Yihong Pharmaceutical, 3D Medicines, Apexigen, and Centrexion. Leveraging its outstanding investment performance and exceptional investment research capabilities, Efung Capital has been honored as one of the Top 30 Healthcare Investment Institutions in China by Zero2IPO Group and recognized among the Top 10 Best Exit Cases of the Year by China Venture. It has also been featured in an exclusive interview by Nature, the world’s authoritative scientific journal.

Tiantu Capital is one of the earliest professional institutions in China to engage in equity investment. Adhering to a path of in-depth research and specialization, it maintains offices in Shenzhen, Beijing, Shanghai, and Hong Kong, with a professional investment team comprising dozens of members. Its investment portfolio includes Zhuozheng Medical, Phoenix Healthcare, Zuodian, Hongkeyuan Medicine, Jingdan Biology, Aigelin, Lemeng Biology, China Feihe, Nayuki’s Tea, Pagoda, Xiaohongshu (Little Red Book), Xiaoguo Culture, Jiangxiaobai, AiHuishou (Love Recycling), and Weijun.

Guoyuan Innovation Investment Co., Ltd., a wholly-owned subsidiary of Guoyuan Securities, has a registered capital of RMB 1.5 billion and focuses primarily on project investment and equity investment. Upholding the corporate spirit of “pragmatism, perseverance, and responsibility,” the company adheres to the business philosophy of integrity, win-win cooperation, and innovation. It is committed to creating a favorable corporate environment, with its foundation built on a novel management model, advanced technology, attentive service, and excellent quality. Its investment portfolio includes listed companies such as Zhenghe Ecology, QuantumCTek, Juyi Technology, Kewell, Rongzhi Rixin, Gongda Gaoke, Yuanchen Environmental Protection, and Tongyuan Environment.

The Hefei Xingtai Huiyuan Leasing Industry Fund was jointly initiated and established by Guoyuan Equity and Xingtai Group, with Guoyuan Equity serving as the fund manager. Structured as a limited partnership, the fund has a size of RMB 200 million and primarily invests in enterprises within strategic emerging industries, including but not limited to new energy, high-end equipment manufacturing, general health, and biopharmaceuticals.