LingFang Bio Announces Completion of RMB 100 Million Series A Financing to Accelerate Development of Novel Anti-Tumor Targeted Therapies

VCBeat has learned at the earliest opportunity that,On November 1, 2021, Shenzhen Lingfang Biopharmaceutical Technology Co., Ltd. (hereinafter referred to as “Lingfang Bio”) announced the completion of its RMB 100 million Series A financing round. The round was led by Cowin Capital, with participation from Zhizhong Investment and other investors. The proceeds will be used to accelerate the clinical development of the company’s multiple core products and to expand its product pipeline.

Lingfang Biopharma is an innovative company dedicated to the research and development of targeted anti-tumor drugs. Its core R&D team possesses decades of experience in new drug development both domestically and internationally. Since its establishment, Lingfang Biopharma has rapidly introduced multiple novel targeted anti-tumor agents, strategically balancing druggability with innovative mechanisms to build a distinctive pipeline. The indications cover high-incidence solid tumors, including gastric cancer, liver cancer, and pancreatic cancer.

Currently, Lingfang Biopharma has one Class 1 new drug in Phase I clinical trials, and two innovative drugs have submitted pre-IND applications this year, with clinical trial approval expected by March next year. In addition, Lingfang Biopharma has three anti-tumor targeted drugs in preclinical development, two of which are expected to receive clinical trial approval by mid-next year.

Dr. Li Buyu, Founder, Co-Chairman, and CEO of Lingfang Biotech, stated“We sincerely appreciate the trust and recognition from institutions such as Cowin Capital and Zhizhong Investment. The market for innovative anti-cancer drugs in China is vast. Within less than 16 months since its establishment, Lingfang Biopharma has achieved rapid development, laying out a pipeline targeting multiple highly promising tumor-related targets with diverse mechanisms of action, and offering broad potential for combination therapies across its various programs. This round of financing is crucial for accelerating clinical trials both domestically and internationally, as well as for advancing our proprietary technology platforms. We are committed to expediting the development of first-in-class or best-in-class novel drugs to benefit patients in China and around the world at the earliest possible date.”

Xi Yanbin, Partner at Cowin Capital’s Beijing Healthcare Fund, stated“Lingfang Bio focuses on novel anti-tumor drugs, strategically selecting differentiated targets, with a portfolio covering multiple cancer types including gastric cancer, pancreatic cancer, and colorectal cancer, which is highly distinctive. We endorse Lingfang Bio’s strategic layout and are optimistic about the R&D team’s extensive experience in developing targeted anti-tumor therapies. The team demonstrates forward-looking vision and a unique pipeline strategy, accelerating preclinical pipeline development while continuously advancing clinical progress. We are delighted to partner with Lingfang Bio and look forward to witnessing breakthroughs in more blockbuster products.”

Zhai Zhihui, Founding Partner of Zhizhong Investment, stated“Lingfang boasts a robust pipeline screening system and talented personnel. The selection of each pipeline product is driven by clinical needs, while taking into account market dynamics, the likelihood of successful commercialization, competitive landscape, and potential for license-out opportunities, supported by precise forecasting models and professional market intelligence. We are highly committed to supporting Lingfang’s rapid growth, enabling more high-quality products to benefit patients worldwide.”

Lingfang Biopharma focuses on the research and development of oncology drugs. The company has currently introduced six product pipelines, covering current hotspots in solid tumor R&D. By leveraging a comprehensive pipeline screening system and carefully balancing R&D risks with market returns, Lingfang strives to expand the broad application potential of its products as both monotherapies and combination therapies. Its portfolio is poised to achieve significant breakthroughs in terms of innovation and differentiation.

Cowin Capital, established in June 2000, is one of China’s first professional private equity investment firms. With 21 years of investment management experience, the firm has successfully invested in over 500 companies and facilitated the domestic and overseas listings of 92 portfolio companies. As a key focus area, its healthcare sector investments have covered more than 100 companies, with 19 achieving successful domestic or overseas IPOs.

Shanghai Zhizhong Investment Management Center (Limited Partnership) was established in 2015, with a primary investment focus on innovative startups in the pharmaceutical and healthcare sectors. The management team at Zhizhong boasts strong professional backgrounds and practical experience in the pharmaceutical industry. The managing partners have twenty-five years of R&D and production experience in biopharmaceutical innovation, having served for over two decades at leading domestic biopharmaceutical companies. Senior investment advisors include renowned investors in China’s pharmaceutical sector from the financial industry, as well as founders of prominent domestic biopharmaceutical enterprises. Adhering to the investment philosophy of “unity of knowledge and action,” Zhizhong emphasizes leveraging professional post-investment management to help innovative startups build sustainable vitality.