ABM Therapeutics Secures $20 Million Series A+ Financing to Advance Brain-Penetrant Targeted Therapies

On August 7, VCBeat (WeChat ID: vcbeat) learned that ABM Therapeutics, a biopharmaceutical innovation company focused on the development of small-molecule drugs capable of crossing the blood-brain barrier, announced that it had recently completed a $20 million Series A+ financing round. This round of financingLed by China Growth Capital, with participation from Sinopharm Capital, Panlin Capital, and Ming Bioventures. Existing shareholders Kaitai Capital and LongDAC continued to invest.. The proceeds from this round of financing will be used to accelerate the clinical development of ABM-1310 and the advancement of multiple preclinical programs at Bichen Pharmaceuticals, further enriching its R&D pipeline and creating sustainable value in the development of small-molecule therapeutics capable of crossing the blood-brain barrier.

Bichen Pharma, founded in 2015, is a clinical-stage R&D platform for innovative small-molecule drugs. The company’s founder, Dr. Chen Chen, has over 20 years of experience in central nervous system (CNS) drug development in the United States. The team members also have more than 15 years of experience in the biopharmaceutical industry, with extensive expertise in drug discovery, biology, clinical research, project management, and operations. Since its establishment, Bichen Pharma has been favored by many well-known investment firms. In June 2017, the company completed its angel round of financing; in January 2019, it closed its Series A financing round, led by Kaitai Capital, with participation from Shengshan Assets, Viva Biotech, and other investors.

“Although Bichen Pharmaceuticals was established only recently, we have achieved multiple breakthroughs over the past year, with all initiatives successfully meeting their predefined targets.” Regarding the recent completion of its Series A+ financing round,Dr. Chen Chen, Founder and CEO of Bichen Pharmastated: “We are delighted that our company’s performance and potential have been recognized by new investors, and we also extend our sincere gratitude to our existing shareholders for their continued support. Cancer metastasis is a leading cause of patient mortality and a primary focus of modern anticancer drug development. Brain metastases pose an even greater challenge due to the blood-brain barrier and the unique structure of the brain. Current treatment options remain very limited. With this round of financing, we will further enhance our existing R&D platform, accelerate the development and global deployment of our drug pipeline, and continue to deepen our research into small-molecule drugs capable of penetrating the blood-brain barrier. We strive to meet market medical needs as early as possible and provide new therapeutic solutions for patients worldwide.”

“Since the launch of this financing round, we have been delighted to see significant interest from numerous new drug investors in Biocentury Pharmaceuticals. Although the global economy and financial markets were severely impacted by the COVID-19 pandemic in 2020, we successfully completed this financing round. In recent years, the global pharmaceutical industry has paid particular attention to small-molecule targets centered on the MAPK signaling pathway and technology platforms characterized by brain-penetrant compounds. Biocentury Pharmaceuticals has extensive strategic layouts and technical advantages in both areas, making it a widely recognized industry leader.”Mr. Huang Qing, Co-Founder and Chief Operating Officer of Bichen PharmaceuticalsHe added, “With the smooth enrollment and comprehensive advancement of Phase I clinical trials for our second-generation brain-penetrant BRAF inhibitor, ABM-1310, across multiple international clinical centers, we are actively seeking various forms of collaboration with both multinational and Chinese pharmaceutical companies. We believe that Bichen Pharma’s dual-engine business model—combining professional private equity investment support with R&D collaborations with domestic and international pharmaceutical firms—will empower us to address the challenges posed by future global political and economic uncertainties to new drug development.”

The lead investor of this roundXiong Weiming, Partner at China Growth Capitalstated: “We are thrilled to lead this round of financing for ABM. Brain metastases in cancer have long been a clinical challenge. Numerous data sets in the field of lung cancer have clearly demonstrated that tumor drugs with blood-brain barrier penetration capabilities can significantly prolong progression-free survival (PFS). The team at Biocentury Therapeutics possesses unparalleled experience and a proven track record in the development of small-molecule drugs with brain penetration. We look forward to seeing exciting data emerge soon from their rich pipeline, led by ABM-1310, and to advancing more brain-penetrant drug candidates into clinical trials!”

ABM Therapeutics is a clinical-stage biopharmaceutical company dedicated to the development of novel small-molecule drugs capable of crossing the blood-brain barrier (BBB). Its pipeline of investigational small-molecule targeted inhibitors demonstrates significantly enhanced brain penetration, offering promising solutions for the treatment of brain metastases in cancer. Since its inception, ABM has achieved steady growth and established operational centers in both the United States and China. By leveraging in-house R&D capabilities and strategic collaborations with contract research organizations (CROs), the company has built a robust pipeline of CNS-penetrant therapeutics, positioning itself as a leading platform for the development of anticancer agents and other small-molecule drugs targeting the central nervous system.

China Growth Capital is a top-tier early-stage investment firm in China, providing venture capital to startups during their initial phases. While primarily focused on the Chinese market, it also maintains a presence in Silicon Valley, USA. Since its establishment in 2006, China Growth Capital has specialized in early-stage investments in sectors such as software and services, technology and frontier innovations, and industry and consumption. Leveraging its extensive resources and expertise, the firm assists its portfolio companies with strategic planning, business expansion, and team building. Its investment portfolio includes SMZDM (300785.SZ), Missfresh, Xiachufang, Wish, Klook Travel, Tongdun Technology, QuantPlus, Tongbanjie, Tiger Brokers (NASDAQ: TIGR), Bieyanghong, 2D Fire, PingCAP, Deephi Technology, Aibee, and LandSpace, among others.

Sinopharm Capital Management Co., Ltd. was established in 2012 as a professional equity investment institution focused on the healthcare sector, initiated by Sinopharm Group. Its management team comprises internal and external investment professionals from Sinopharm Group, operating under market-oriented mechanisms. With profound insights into industry development, operational management, and capital operations in the healthcare sector, the company effectively integrates industrial resources and capital strength both within and outside Sinopharm Group. Sinopharm Capital Management Co., Ltd. launched the Sinopharm Phase I Fund in 2012 and established the Sinopharm Phase II Fund between 2015 and 2016, which includes the Sinopharm Foreign Currency Fund, Sinopharm Innovation Fund, Sinopharm M&A Fund, Sinopharm Medical Devices Fund, and Sinopharm CNBG Innovation Fund. To date, its assets under management exceed RMB 6 billion.

Panlin Capital focuses on investing in technology-driven innovative enterprises at the early and growth stages. Guided by the investment theme of “technological innovation leading consumption upgrades,” Panlin Capital concentrates its investment layout on two major sectors: (1) R&D of new drugs for major diseases and import substitution of high-end medical devices; and (2) enterprise-level services and intelligent equipment driving the intelligent and digital transformation of the consumer supply side. Portfolio companies include Toread (300005), High-Environment (603588), Dongfang Shishang (603377), Kangtai Biological Products (300601), Hybribio (300639), Sinocare, Ribo Life Science, Apollomics, GenFleet Therapeutics, Pingxin Technology, Yier San, and Chipon Microelectronics.

Kaitai Capital, established in 2009, is a professional venture capital management firm primarily engaged in innovation investment, industrial investment, and wealth management. Currently, Kaitai Capital manages assets exceeding RMB 50 billion, with its three core investment sectors being Life Sciences & Healthcare, Community Innovation & Consumption Upgrading, and Artificial Intelligence & Digital Industries. In the field of Life Sciences & Healthcare, Kaitai Capital adopts a methodology of “research-driven investment” centered on “unmet medical needs.” It has invested in more than 70 companies across various sub-sectors, including small-molecule oncology drugs, large-molecule biologics, gene and cell therapies, autoimmune diseases, antiviral treatments, metabolic disorders, and respiratory diseases.

Ming Bioventures, established in April 2018, is headquartered within the BioBAY (Suzhou Industrial Park Biopharmaceutical Industrial Park). Since its inception, Ming Bioventures has focused on investments in the life sciences sector, including innovative drugs, medical devices, and novel diagnostics. The firm is dedicated to identifying early- to mid-stage projects that address significant unmet clinical needs, possess high technological barriers, and are led by experienced teams, striving to become one of China’s most professional venture capital firms specializing in early- to mid-stage healthcare investments.