Shanghai-based Biotech ShangJian Bio Completes Over RMB 200 Million Series B+ Financing to Accelerate Clinical Development of Innovative Antibody Therapies

Recently, Hangzhou SUMGEN Biotechnology Co., Ltd. (“SUMGEN”) announced the completion of its Series B+ financing round, raising over RMB 200 million. The round was jointly invested by Junchuan Capital, Zheshang Venture Capital Co., Ltd., Qianhai Wanhui Equity Investment Management (Shenzhen) Co., Ltd., and Wuxi Shangtong, with existing investors Sinopharm CNBG, Shanghai Hankang Private Equity Fund Management Co., Ltd., and ADDOR increasing their investments. Xingyuan Zhitong served as the exclusive financial advisor for this financing round.

SUMGEN is an innovation-driven biopharmaceutical company dedicated to the development and commercialization of innovative antibody-based therapeutics for oncology and other major diseases. The Company possesses sustained innovation capabilities and a robust product pipeline, having established multiple innovation platforms, including several antibody discovery platforms such as the mammalian cell display platform, as well as multiple bispecific antibody platforms, including BIMA (Bispecific/functional Macrophage Activator) and BITA (Bispecific/functional T cell Activator).

Focusing on the oncology field, SUMGEN has strategically deployed a portfolio of original products. Multiple projects, including SG301, SG404, and SG12473, have completed dual regulatory filings in China and the United States, entered clinical trial phases, and achieved positive progress. In November 2021, SG2501, the world’s first CD38/CD47 bispecific antibody independently developed by the company, received approval from the U.S. FDA to initiate clinical trials, with all related clinical preparations in the United States advancing steadily. The company has established a global patent layout for innovative antibody drugs, filing more than 60 invention patents, and has entered into multiple commercial collaborations with partners such as CSPC Pharmaceutical Group and Sinopharm CNBG. Currently, the company has commenced construction of a production facility compliant with international standards, dedicated to providing high-quality Chinese antibodies to patients worldwide.

Regarding the continued investment recognition from capital partners, Dr. Lv Ming, Founder and CEO of SUMGEN, stated: “We extend our gratitude to both new and existing shareholders for their support of SUMGEN. We will deepen our efforts in innovative product development and comprehensively accelerate our clinical pipeline layout; strengthen sustainable, original innovation capabilities to drive corporate growth through innovation; and build industrial translation and commercialization capabilities to help the company establish a comprehensive industry chain.”