YZY Bio Successfully Closes B+ Financing Round to Accelerate Clinical Development of M701 and M802

VCBeat (WeChat: vcbeat) learned at the earliest opportunity that, followingCompleted Series B financing in December 2020Subsequently, Wuhan Youzhiyou Biopharmaceutical Co., Ltd. successfully closed its Series B+ financing round in recent days, with participation from the Wuhan Institute of Biotechnology and Blue Crystal Investment. The funds raised will further accelerate the clinical development of the company’s core products, M701 (EpCAM×CD3 bispecific antibody) and M802 (HER2×CD3 bispecific antibody).

Wuhan Institute of Biotechnology, introduced in this round, is a large-scale comprehensive service platform for the bio-industry, established by the Hubei Provincial Party Committee and Provincial Government, as well as the Wuhan Municipal Party Committee and Municipal Government, by integrating the advantageous resources of universities and institutes in Wuhan, including Wuhan University, Huazhong University of Science and Technology, Huazhong Agricultural University, and the Wuhan Branch of the Chinese Academy of Sciences. As a platform for integrating scientific and technological innovation resources in the biological field in Hubei Province, the Institute has been committed to improving its service system and facilitating the transformation of achievements from more high-quality innovative projects in Wuhan.

Through this collaboration, the Company has successfully secured support from a state-owned capital-backed fund, further diversifying its shareholder base. Meanwhile, VCBeat Institute will fully leverage its strengths in resource integration and platform services to provide comprehensive support for the Company’s rapid future growth.

Wuhan Youzhiyou Biopharmaceutical Co., Ltd. is a high-tech enterprise dedicated to the independent innovative research and development of biopharmaceuticals. After ten years of development, the company has successfully established internationally leading bispecific antibody platform technologies, including YBODY® and CheckBODY™. Centered on its core technologies and products, the company has filed 51 invention patent applications and obtained 26 granted patents (including six U.S. patents). Its current R&D pipeline covers major disease areas such as oncology, inflammation, and cardiovascular diseases.

Three products targeting gastric cancer and breast cancer (HER2×CD3), advanced malignant ascites (EpCAM×CD3), and multiple myeloma (CD38×CD3) have all received clinical trial approvals in both China and the United States and have initiated clinical studies. These products hold promise for delivering improved therapeutic outcomes for cancer patients, significantly enhancing their quality of life and extending survival.