Mingji Biopharma Announces Completion of RMB 300 Million Series B Financing to Advance Innovative Drug Development Platform
On March 12, Mingji Biologics officially announced the completion of its Series B financing round. The total size of this round amounted to RMB 300 million, led by CICC Qide Fund under CICC Capital. Existing investor Lilly Asia Ventures continued to increase its investment, while institutions including Sinopharm Capital, Deyi Capital, and MSA Capital participated as co-investors. China Renaissance served as the exclusive financial advisor for this transaction.
Mingji Biologics is a biotechnology company dedicated to precision immunotherapy, driving innovative drug development through globally leading antibody engineering technologies. Guided by fundamental research in life omics and translational medical scientific discoveries, and leveraging in-depth insights into the pathogenic mechanisms of oncology and immunobiology, the company identifies and validates targets or target combinations with the greatest clinical potential to formulate drug development strategies underpinned by advanced concepts. Currently, Mingji Biologics has established a robust pipeline of monoclonal and bispecific antibody products focused on oncology and autoimmune diseases.
The company possesses a comprehensive, proprietary platform for large-molecule drug development, covering core technical links across the entire industry chain—from target discovery and validation, protein drug screening and optimization, tumor and immunological functional analysis, and stable cell line development, to pilot-scale production and quality control. Leveraging this platform, the company completed the preclinical development of monoclonal antibody drugs targeting gastrointestinal tumors within a remarkably short timeframe and obtained clinical trial approval. Particularly noteworthy is its independently developed antibody screening and optimization technology platform, which includes the Structure-based Targeted Evolution Platform (STEP) and Cell-based Antibody Panning (CAP). Unlike traditional “black box” antibody screening methods that rely on recombinant antigens and animal immunization, this platform enables rapid and efficient screening and optimization of a series of candidate drugs with the potential to become Best-in-Class antibodies. These candidates feature recognition of specific epitopes, ideal affinity and activity, and favorable druggability, reaching a world-leading level. These platforms exhibit strong scalability and offer disruptive advantages, particularly in the development of monoclonal antibody drugs targeting complex membrane protein antigens, as well as various formats of bispecific antibodies, including those sharing light chains.
Dr. Jin Zhaoyu, Founder and CEO of Mingji Biologicsstated: “We extend our gratitude to all investors for their recognition and to our existing shareholders for their unwavering support. The proceeds from this financing round will continue to be dedicated to building a comprehensive, end-to-end platform for antibody development and expanding our professional team, thereby accelerating the preclinical development and clinical trials across all phases for a pipeline of monoclonal and bispecific antibody products. Remaining true to our corporate mission, we are committed to advancing a globally innovative pipeline to effectively address the clinical needs in treating various malignant diseases, with the aspiration that our products will benefit a broad patient population.”
Dr. Huang Xu, Executive General Manager of CICC Capital“He stated: ‘The team at Mingji Biologics possesses a solid foundation in drug R&D and outstanding capabilities in original innovation. By integrating interdisciplinary knowledge, the company has established an efficient platform for the design and development of large-molecule drugs, demonstrating strong competitive advantages and execution efficiency. With the support of capital, we hope Mingji Biologics will achieve rapid growth and continuously launch innovative antibody-based therapeutics that are leading in China and benchmarked against global top-tier standards, thereby benefiting patients.’”
Su Xiaodi, Vice President of Lilly Asia Venturesstated: “The team at Mingji Biologics possesses extensive experience and exceptional execution capabilities in the research and development of novel biologics and precision cancer immunotherapy. As a Series A investor, Lilly Asia Ventures will continue to support Mingji Biologics, accelerating the development of its clinical pipeline and driving continuous breakthroughs in its first-in-class assets.”
Zou Min, Partner at Sinopharm Capital“It was stated that ‘the Mingji Bio team possesses a global perspective and robust R&D capabilities. Its internal platform integrates cutting-edge disciplines such as structural biology, synthetic biology, and computational biology, demonstrating a profound understanding of antibody engineering and endowing its pipeline with strong competitiveness. Sinopharm Capital firmly supports the company’s continuous breakthroughs in platform development, pipeline advancement, and clinical progress, with the aim of benefiting more patients.’”
Wang Xuzhou, Senior Partner at Deyi Capital“The team at Mingji Biologics brings years of frontline experience in novel drug development from internationally renowned pharmaceutical companies. Leveraging deep expertise in structural biology, antibody engineering, and synthetic biology, the company has established an industry-leading platform for antibody screening and optimization. Deyi Capital will support Mingji Biologics in developing innovative therapies that effectively address unmet clinical needs, enabling its growth into a globally leading biotechnology company.”
Zeng Yu, Founding Partner of Heyu Capitalstated: “Mingji Bio possesses an advanced and unique bispecific antibody platform technology in China, along with stable and mature manufacturing processes. The team led by Dr. Jin has many years of experience in antibody drug development and strong innovation capabilities. M108 is an ADCC-enhanced monoclonal antibody independently developed by Mingji Bio for the treatment of digestive system tumors. In preclinical models, M108 demonstrated potent anti-tumor activity and a favorable safety profile. We look forward to obtaining further clinical data on safety and efficacy to provide new therapeutic options for more cancer patients. We are highly optimistic about Mingji Bio’s future development and look forward to providing long-term support to strengthen the advancement of its product pipeline and create greater value.”
Xie Yijing, Managing Director of China Renaissance and Head of the Healthcare & Life Sciences Groupstated, “We are deeply honored to have assisted BioMap in completing this landmark private equity financing transaction. BioMap boasts world-leading continuous innovation capabilities and a comprehensive, robust platform for large-molecule drug development. We believe that, with the support of this funding round, BioMap will leverage its professional team and technological platform advantages to continuously break through key bottlenecks in drug R&D and achieve further milestones. We will continue to stand by the company as it embarks on this new journey, helping BioMap become a leading innovator among China’s biotechnology enterprises.”
May Mingji Biopharma, through its unwavering efforts, successfully develop innovative drugs with clinical value, benefiting the public while delivering substantial returns to investors, and contributing to China’s emergence as a global powerhouse in biopharmaceuticals.