Tavotek Biotherapeutics Secures Over RMB 200 Million in Series B Financing to Accelerate Development and Clinical Advancement of Innovative Multispecific Antibody Pipeline

VCBeat has learned that Tavotek Biotherapeutics Ltd. (hereinafter referred to as “Tavotek” or the “Company”), based in Suzhou, recently announced the completion of its Series B financing round, raising over RMB 200 million. The round was led by SDIC Investment Promotion and co-invested by FUNG & CHUEN CAPITAL PTY LIMITED.

Previously, the company had just completed a tens-of-millions-of-US-dollars Series A+ financing round in the first half of 2021. From February 2021 to the present, the company has consecutively completed four rounds of financing, fully demonstrating the capital market’s high recognition of Tavotek Biotherapeutics’ strong innovative R&D capabilities.The funds raised in this offering will be used to advance clinical trials for the company’s pipeline under development, as well as to support early-stage R&D and preclinical studies for other projects.

Tavotek Biotherapeutics is a multifunctional, specificity-focused antibody drug company equipped with world-leading protein engineering technologies. Specializing in oncology and autoimmune diseases, the company is dedicated to developing drugs targeting undruggable and other innovative targets, with R&D centers established in Suzhou and overseas.

The company’s drug R&D is primarily built upon three innovative technological platforms: TavoSelect, a proprietary phage display library; TavoPrecise, a protein engineering platform supporting the development of bispecific and multispecific antibodies; and TavoMIP, a macrocyclic peptide platform focused on tackling undruggable targets. The company currently has nearly ten pipeline candidates in development, with two slated for US IND submission by the end of 2021, and plans to maintain a pace of at least two IND submissions per year thereafter.

“We are deeply grateful to the investors in this round for their trust and support, and we also extend our sincere appreciation to the company’s existing shareholders for their understanding and cooperation in this financing round.”Dr. Mann Fung, Co-founder and Chairman of Tavotek Biotherapeutics Ltd.stated, “Tavotek Biotherapeutics has always adhered to the scientific philosophy of ‘original innovation and patient-centricity,’ addressing unmet real-world clinical needs. Leveraging its unique R&D capabilities, flexible clinical development strategies, and efficient execution, the company is committed to providing patients with more effective treatment regimens that offer higher adherence.”

SDIC Mercom Life Sciences Team stated“Tavotek Biotherapeutics boasts a seasoned R&D team with years of collaborative experience. Leveraging its highly innovative technology platform with independent intellectual property rights, the company is developing novel therapies to address significant unmet medical needs. Since its establishment over two years ago, Tavotek has maintained high R&D efficiency, with encouraging progress across its projects. As the lead investor in this funding round, SDIC Capital Management highly recognizes the exceptional R&D capabilities and innovative spirit demonstrated by the Tavotek team. We look forward to the early market launch of the company’s products, bringing benefit to a broad patient population.”

Xiang Duan, CEO and Founder of Fengchuan Capital, stated“We are delighted to participate in the company’s critical development phase and its Series B financing round. We firmly believe that, under the leadership of Dr. Mann Fung and Dr. Mark Chiu, Tavotek will become a global leader in the development of multifunctional specific antibody therapeutics. Leveraging the company’s leading technological platforms, including antibody engineering and cyclic peptides, and combining decades of clinical experience with a global perspective, the company is poised to become a top-tier biopharmaceutical enterprise rooted in China and oriented toward the world.”

SDIC Merchants focuses on investment in the advanced manufacturing industry, emphasizing technological innovation and the value of outstanding entrepreneurs and teams. It prioritizes investments in fields such as intelligent manufacturing, new energy intelligent vehicles, life sciences, and information and communications technology (ICT), committed to promoting the green, digital, and service-oriented development of the manufacturing sector. The team manages a cumulative asset scale exceeding RMB 100 billion, with investors including financial institutions, the National Social Security Fund, and both state-owned and private capital.

Fung & Chuen Capital, established in 2015, is a private equity fund dedicated to investing in frontier biopharmaceuticals, life sciences, and related industries. Its team members hail from top-tier financial institutions or pharmaceutical companies. Since its inception, Fung & Chuen Capital has been committed to identifying healthcare and pharmaceutical enterprises that promote human health, leveraging rigorous industry insights, unique business resources, and the ability to seize cross-border opportunities to help these companies grow into industry leaders.