Konpu Biopharma Secures RMB 250 Million Series B Financing to Advance Clinical Development of Multiple Protein Ubiquitination Degradation Therapeutics

VCBeat (WeChat: vcbeat) has learned that on May 10, 2021, Kangpu Biomedical Technology (Shanghai) Co., Ltd. (“Kangpu Biomedical”) announced the recent completion of its Series B financing round, raising RMB 250 million. The round was led by LapamCapital, with participation from Yijing Capital, Sun Fund, ABC International, Zhongguancun Kaiyuan Capital, and Ruihe Capital, among others. The proceeds will be primarily used to accelerate the clinical development of the company’s multiple product candidates based on molecular glue-mediated ubiquitination and degradation technology.

Kangpu Biopharmaceuticals, located in the Zhangjiang Hi-Tech Park in Shanghai, is a clinical-stage innovative biopharmaceutical company. Guided by clinical needs and driven by innovation, Kangpu Biopharmaceuticals focuses on therapeutic areas such as cancer, autoimmune diseases, and inflammation. Leveraging its proprietary technologies—including internationally leading next-generation molecular glue-based protein ubiquitination and degradation technology, and the X-Synergy® novel drug combination platform—the company is dedicated to developing globally oriented, independently owned targeted immunomodulatory innovative drugs, aiming to provide patients with first-in-class or best-in-class treatment solutions.

Dr. Ge Chuansheng, Founder, Chairman, and CEO of Kangpu Biopharmastated: “We are deeply honored by the strong trust and robust support demonstrated by numerous prestigious investment institutions in this financing round. This round of funding will play a pivotal role in comprehensively and rapidly advancing our clinical pipeline and further strengthening our leading position in the field of molecular glue-mediated targeted protein degradation via ubiquitination. The discovery of the Ubiquitin-Proteasome System (UPS), the underlying mechanism of protein ubiquitination and degradation, represents a milestone in the development of cell biology and was awarded the Nobel Prize in 2004. It is exerting extensive and profound impacts in the medical and clinical fields, bringing revolutionary changes to the treatment of diseases such as cancer. By reprogramming E3 ubiquitin ligase signaling pathways through molecular glues to specifically eliminate pathogenic proteins—particularly those lacking intact catalytic centers and thus unsuitable for inhibition of their enzymatic activity by traditional small-molecule drugs—this approach holds immense potential and broad prospects in the field of innovative drug development.”

Mr. Yu Zhihua, Chairman of LapamCapitalstated: “We are highly optimistic about Kangpu Biomedical’s R&D team’s profound understanding and practical experience in protein ubiquitination degradation, its highly competitive technology platform, and its innovative, rich, and unique product pipeline. We look forward to Kangpu Biomedical rapidly bringing innovative drugs with significant clinical application potential to market, thereby benefiting patients worldwide.”

Headquartered in Beijing, Lapam Capital is a leading venture capital firm in China specializing in the biopharmaceutical sector. Currently, Lapam Capital manages four funds with a total scale exceeding RMB 4 billion, including the only biopharmaceutical-focused fund capitalized by the National Social Security Fund. The funds focus on investing in innovative drugs and innovative medical devices, covering start-up, early-to-mid, and growth stages. To date, it has invested in more than 40 innovative drug companies and over 10 innovative medical device companies, including market leaders in niche segments such as Beta Pharma, RemeGen, Clover Biopharmaceuticals, SWM Bio, Kaiyin Technology, BinHui Bio, and Aier Eye Hospital Group (Note: "爱博诺德" is typically Eyebright Medical, corrected below). Correction for accuracy based on common industry knowledge: "爱博诺德" refers to Eyebright Medical.Revised translation segment: ...including market leaders in niche segments such as Beta Pharma, RemeGen, Clover Biopharmaceuticals, SWM Bio, Kaiyin Technology, BinHui Bio, and Eyebright Medical. Many partners of the Lapam Capital team have over 20 years of experience in the international and domestic biopharmaceutical industries, enabling them to provide comprehensive value-added services to portfolio companies.

Saiying Capital was jointly established in 2016 by Saisheng Pharmaceutical (SZ: 300485), E-town State-owned Investment, and the E-town Biopharmaceutical Park. Headquartered in Beijing E-town, it focuses on investments in the pharmaceutical, healthcare, and life sciences sectors. The fund management team at Saiying Capital possesses deep industry expertise in pharmaceuticals and healthcare, along with extensive venture capital experience. It currently manages three funds: “Beijing E-town Biopharmaceutical Investment Fund (Phase I),” “Beijing E-town Biopharmaceutical Investment Fund (Phase II),” and “Beijing E-town SME Biopharmaceutical Investment Fund.” Adhering to the philosophy of “leveraging capital to drive the development of the medical industry,” Saiying Capital has deeply cultivated the domestic pharmaceutical market, gained profound insights into the trends of medical technology, and completed investment and M&A transactions for more than ten healthcare projects.

Yijing Capital was established in 2015, engaging in primary market equity investments and fund-of-funds investments using its own capital and private equity funds. Adhering to the philosophy of “helping enterprises innovate and grow, promoting industrial optimization and upgrading, and driving social development and progress,” Yijing Capital focuses on sectors such as healthcare, hard technology, and TMT & mass consumption. It specializes in investing in early-stage and growth-stage enterprises characterized by high value creation and technological innovation. In the healthcare sector, it has invested in multiple leading companies in niche industries, including ZhiDao Biology, OPM Biotech, Hanyu Medical, Dayi Group, Weier’nuo Pediatrics, and MedSci.

ABC International Holdings Limited is a professional investment banking platform meticulously established by Agricultural Bank of China in Hong Kong, founded in November 2009. The company currently has eight wholly-owned subsidiaries, including financing, investment management, asset management, and securities companies. It provides comprehensive and integrated financial services in Hong Kong, such as IPO sponsorship and underwriting, bond issuance and underwriting, financial advisory, asset management, direct investment, institutional sales, securities brokerage, and securities consulting.

Zhongguancun Kaiyuan Capital is an industry-finance integrated investment fund initiated and co-managed by Zhongguancun Venture Capital, focusing on early-stage venture capital investments in the fields of information technology and biomedicine. Zhongguancun Venture Capital is a renowned venture capital platform under Zhongguancun Development Group, primarily conducting venture capital activities through fund-of-funds investments and direct investments, with a strong emphasis on facilitating effective alignment between technology and capital.

Ruihe Capital was founded in 2010 by seasoned professionals from the industrial and financial sectors. It focuses on equity investments in the fields of information technology, pharmaceuticals and healthcare, and cultural creativity. Currently, it manages nearly RMB 3 billion in assets. In recent years, its portfolio companies listed on the A-share market include Weaver Network, Menovo, Baolong Technology, Dynagreen Environmental Protection Group, and Titan Scientific. In the pharmaceutical and healthcare sector, leveraging a professional team with deep industry expertise and maintaining close collaboration with Menovo, Ruihe Capital has led investments in outstanding enterprises such as Menovo, Titan Scientific, Arno Therapeutics, Huaxian Pharmaceuticals, and Zhihe Biotechnology.