Myeloid Cure Biotechnology Secures Tens of Millions in Angel Funding to Target 'Cold Tumors' with Macrophage-Focused First-in-Class Therapies

VCBeat (WeChat: vcbeat) has learned that Hangzhou Medimscience Biomedical Technology Co., Ltd. has announced the completion of its angel financing round, raising tens of millions of yuan. Medimscience is the first emerging biotechnology company in China dedicated to developing novel drug targets for macrophages within the tumor immune microenvironment. While tumor immunotherapies represent the most critical approach to cancer treatment today, existing T cell-centric therapies have significant limitations. Drugs targeting macrophages hold promise for addressing the shortcomings of current tumor immunotherapies and treatment modalities. This funding round was led by CoWin Ventures, with participation from Guangzhou Redhill Equity Investment Management Co., Ltd. The raised capital will be primarily used for the research and development of its existing product pipeline and the recruitment of high-end talent.

The tumor immune microenvironment serves as the soil for the initiation and progression of solid tumors and determines the efficacy of tumor immunotherapy. Generally, tumors with abundant T cell infiltration are referred to as “hot tumors”; in contrast, those with scant T cell infiltration but substantial infiltration of myeloid cells, such as macrophages, are termed “cold tumors,” with the majority of tumors falling into the latter category. Clinical data indicate that “hot tumors” respond well to immunotherapeutic agents that modulate T cell function (e.g., PD-1/PD-L1 antibodies), whereas “cold tumors” exhibit resistance to PD-1/PD-L1 antibody therapy. Accumulating evidence demonstrates that macrophages facilitate tumor escape from immune surveillance: tumor-associated macrophages suppress the tumor-killing activity of T cells. More intriguingly, these macrophages can also contribute to the formation of physical barriers that inhibit T cell infiltration.

Medimscience is developing a first-in-class novel drug that promotes reprogramming of the tumor immune microenvironment by targeting new macrophage-based targets, striving to create an “icebreaker” to overcome immunosuppression in “cold tumors.”

Dr. Yuan Hong, Founder and CEO of Medimscience“Sincere thanks to CoWin Ventures and Redhill Capital for their recognition of Medimscience. Currently, biopharmaceutical companies in China engaged in source innovation are still relatively scarce. Medimscience is dedicated to the discovery and validation of novel drug targets at the source, developing first-in-class anti-tumor drugs based on the theory of reprogramming the tumor immune microenvironment, thereby overcoming challenges such as the low response rates associated with PD-1/PD-L1 inhibitors. Our preclinical studies in animal models have demonstrated tumor cure phenotypes and the establishment of immune memory protection for some of our new target therapies. We look forward to advancing these candidates into clinical translation to benefit patients worldwide.”

Dr. Huang Xin, Managing Partner of CoWin Ventures“He stated, ‘Current T cell-based tumor immunotherapies have encountered numerous bottlenecks. The Medimscience team has accumulated many breakthrough findings in the fundamental biological mechanisms of tumor-associated macrophages and, building on this foundation, is developing drugs for reprogramming the tumor immune microenvironment. CoWin Ventures is delighted to have participated at an early stage in Medimscience’s journey to develop first-in-class innovative drugs and looks forward to working with the company to advance the development of original innovative drugs in China.’”

Dr. Li Jie, Managing Director of Redhill Capitalstated: “Medimscience is a typical biotechnology company co-founded by an outstanding ‘scientist + CEO’ duo, which aligns perfectly with our investment criteria. The founders have a solid research foundation and unique insights in the field of macrophages, and the company has already established a comprehensive platform for the development, validation, and translation of novel macrophage targets. We are highly optimistic about the druggability potential of macrophage-related targets and remain confident in the company’s future growth.”

CoWin Ventures is a dual-currency (USD and RMB) venture capital firm focused on early-stage technology companies, fostering a team culture grounded in equality, transparency, sharing, and innovation. Established in 2009, the firm primarily focuses on healthcare and IT hard-tech sectors, with cumulative assets under management exceeding RMB 5 billion. It has provided financial and resource support to more than 100 outstanding teams and projects.

CoWin Ventures has facilitated the successful public listings of more than ten high-tech enterprises, including Conatus Pharmaceuticals (NASDAQ: CNTB), Thrive (NASDAQ: EXAS), Accelink Technologies (300308), MemSensing Microsystems (688286), Huaxing Zhiyuan (000008), and Aolian Electronics (300585). Meanwhile, it has empowered a large cohort of companies—such as Taimei Medical Technology, Zenotech, HuaKe JingZhun, and Maxphotonics—to stand out in their respective niche sectors.

Redhill Capital focuses on early-stage investments in innovative medical technology companies. Currently, Redhill Capital manages two RMB-denominated funds, with investors including prominent market-oriented fund-of-funds, asset management firms, government guidance funds, industrial capital, family offices, and well-known listed companies.