LingTai Bio Secures Nearly RMB 100 Million in Early Financing to Advance PROTAC Pipeline for Autoimmune Diseases and Oncology

VCBeat (WeChat ID: vcbeat) has learned that Shanghai Lingtai Biopharmaceutical Technology Co., Ltd. (hereinafter referred to as “Lingtai Bio”), a company based in Zhangjiang Science City, recently announced the completion of its Pre-A financing round. The round was led by Yisheng Capital, with existing shareholder Zhangke Lingyi making additional investments. The funds will primarily be used to advance the company’s first PROTAC pipeline for autoimmune disease treatment into clinical trials, as well as to develop subsequent projects and pipelines, including those for oncology and other autoimmune diseases. Including its previous angel round, Lingtai Bio has raised nearly RMB 100 million in early-stage financing.

Lingtai Biologics was founded by Dr. Feng Yan in September 2019 in Zhangjiang Science City. The company is dedicated to the development of targeted protein degradation therapeutics, with a focus on autoimmune diseases and oncology, to address unmet clinical needs.

Targeted protein degradation (TPD) drugs are bifunctional small-molecule compounds. One end of the small molecule is a ligand that binds to the target protein, while the other end is a ligand that binds to an E3 ubiquitin ligase. These ligands are connected by a linker to form a ternary complex, which brings the target protein into proximity with the E3 ligase, thereby promoting ubiquitination of the target protein. The ubiquitinated protein is then degraded via the ubiquitin-proteasome pathway, achieving the goal of eliminating disease-causing target proteins. TPD drugs offer advantages such as high druggability, the ability to overcome drug resistance, low dosage requirements, and reduced toxicity and drug resistance. Currently, this research area has attracted significant attention from major pharmaceutical companies and capital markets both in China and globally.

Since its inception, the company has adhered to its mission of “Pioneering Innovation, Ensuring Public Health and Safety.” Focusing on source innovation in new drug development, it seeks novel targets and leverages protein degradation technology to develop small-molecule drugs against currently undruggable targets, thereby delivering maximum therapeutic value to patients. Currently, based on its independently developed Nano-SPUD platform for specific protein ubiquitination and degradation-based drug discovery, the company has generated a series of lead compounds with full independent intellectual property rights. The company’s most advanced project is LT001, targeting autoimmune diseases. A series of in vitro and in vivo studies, including assessments of degradation activity, pharmacokinetics, and pharmacodynamics, have yielded expected results. IND-enabling studies are underway, with an Investigational New Drug (IND) application scheduled for submission by the end of 2022 and clinical trials expected to commence in 2023. Lintai Biopharma is also actively developing multiple pipeline projects.

Regarding this round of financing, Dr. Feng Yan, Founder of Lintai Bio, stated, “The development of targeted protein degradation drugs (PROTACs), as a crucial direction for future new drug R&D, has garnered widespread attention from academia, the pharmaceutical industry, and capital markets in recent years. As a dedicated player in this field, Lintai Bio has established its proprietary R&D technology platform and pipeline through diligent efforts within two years. One of our pipeline candidates is poised to enter preclinical studies and regulatory filing stages. I am deeply grateful for the hard work of our team members and the steadfast support of our angel investor, Zhangke Lingyi. During this financing round, we were honored to receive recognition and lead investment from Yansheng Venture Capital, while Zhangke Lingyi also decided to increase its investment. Therefore, I extend my sincere appreciation to both new and existing investors for their trust and support! This round of financing will facilitate the rapid advancement of preclinical research and clinical trial applications for Lintai’s lead candidate, while also providing strong support for the initiation of subsequent projects, the building of a high-caliber talent team, and facility expansion. I believe that with the assistance of our investors and the dedication of the Lintai team, we will fully unlock our potential in new drug development and make greater contributions to the pharmaceutical industry!”

Chen Jie, Founding Partner of Yuansheng Venture Capital, stated, “We are pleased to lead this investment round in Lintai Bio. Lintai Bio has been deeply engaged in the PROTAC field, having established a relatively mature technology platform. The company has already initiated IND-enabling studies for its lead product, and its subsequent product pipeline is robust, indicating significant growth potential. We believe that Lintai Bio will possess strong international competitiveness in the future.”

Yu Xiaoyong, Founding Managing Partner of Zhangke Lingyi, stated, “We congratulate Lingtai Bio on the successful completion of this round of financing. As the lead investor in Lingtai Bio’s angel round, Zhangke Lingyi had the privilege of partnering with Dr. Feng Yan two years ago to support Lingtai Bio’s endeavors in the novel drug development arena focused on protein degradation. Over the past two years, we have witnessed the continuous growth of Lingtai Bio’s team and company, gained a deep understanding of the drivers behind its sustained innovation, and remain highly confident in its future development, which is why we have increased our investment in this round. We believe that following this financing, Lingtai Bio will continue to achieve remarkable progress in advancing its clinical trial applications, optimizing its pipeline layout, and enhancing its overall capabilities.”

YuanSheng Venture Capital is an investment firm focused on early- and growth-stage healthcare and life sciences companies. Headquartered in BIOBAY, it extends its reach across China and globally. The firm currently manages RMB and USD funds with a combined total of nearly RMB 6 billion, has completed investments in over 100 high-quality projects, and primarily focuses on new drug development, innovative medical devices, diagnostics and precision medicine, and healthcare services. It has achieved substantial investment returns and has been repeatedly recognized as one of the Top 10 Venture Capital Funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. Leveraging its specialized focus and extensive industry resources, YuanSheng Venture Capital is committed to becoming one of the most successful healthcare and pharmaceutical venture capital firms in China.

Zhangke Lingyi is a local venture capital firm based in Zhangjiang, primarily investing in early- to mid-stage projects in the fields of biopharmaceuticals and innovative medical devices within Zhangjiang Science City. It has successively invested in companies such as ImmuneOnco, Newpulse Medical, Yinuo Pharmaceutical, Zhuowai Medical, Luoqi Biologics, Lingnuo Pharmaceuticals, Lingtai Biologics, and Xuanren Technology. The management team of Zhangke Lingyi has deep roots in Zhangjiang, possessing extensive industry, project, and information resources. By integrating various development elements essential for corporate growth—including capital, talent, development space, corporate collaborations, and policy information—the firm works alongside entrepreneurs to drive the rapid development of startup enterprises.