Lepu Bio Completes RMB 1.291 Billion Series B Financing Led by Sunshine Life Insurance and Sunshine Ronghui Capital

VCBeat (WeChat ID: vcbeat) has learned that LEPU BIOPHARMA, a highly competitive innovative biologics platform for oncology treatment in China, has completed its Series B financing round, raising nearly RMB 1.291 billion. The round was co-led by Sunshine Life Insurance, Sunshine Ronghui Capital, and Ping An Capital, with participation from Haitong Innovation, SDIC Chuanghe, China Reform State-owned Enterprise Operation Investment Fund, and Qingdao Minxin Qiyuan. The funds raised will be primarily used to accelerate the research and development, clinical trials, and market launch of the company’s multiple novel anti-tumor drugs.

LEPU BIOPHARMA, established in 2018, is a highly competitive domestic platform for innovative oncology therapeutics. The company focuses on developing an innovative portfolio of cancer treatments centered on immuno-oncology, particularly targeting PD-1 and PD-L1, as well as key combination therapies involving oncolytic viruses and antibody-drug conjugates (ADCs). Concurrently, it has built an open industrial platform encompassing target discovery, drugability assessment, development, and manufacturing.

Shi Shenghao, Managing Director of Sunshine Ronghui Capital, stated, “Sunshine Ronghui Capital highly recognizes Lepu Medical’s leading advantages in team experience, product pipeline, R&D capabilities, and future commercialization. We are also delighted to partner with LEPU BIOPHARMA to build a future-oriented platform for combination biologic therapies in oncology, focusing on tumor immunotherapy and targeted therapy, by leveraging the company’s extensive R&D experience and robust product pipeline in the fields of antibodies, antibody-drug conjugates (ADCs), and oncolytic viruses.”

Sunshine Ronghui Capital’s pharmaceutical investment philosophy is primarily grounded in the team’s R&D expertise and the clinical value of products, with a focused emphasis on three major areas: immunotherapy, targeted therapy, and gene therapy. Its investment scope covers monoclonal antibodies, bispecific antibodies, antibody-drug conjugates (ADCs), small nucleic acid drugs, oncolytic viruses, cell therapies, gene therapies, and therapeutic vaccines.

Sunshine Ronghui Capital was established in 2015 as one of the first pilot entities in China’s insurance industry to set up private equity fund management companies using insurance funds. Its business segments include equity investment, real estate investment, and wealth management, with total assets under management reaching RMB 18 billion. Ronghui Capital focuses on investments in the healthcare, technology, and consumer sectors—industries that exhibit cross-cycle growth and synergy with insurance operations—and has become one of the most prominent insurance-affiliated fund management institutions. Representative portfolio companies include industry leaders such as Mindray Medical, Yuwell Medical, Genor Biopharma, Ruipeng Pet Healthcare, Ant Financial, JD Finance, SenseTime, Qihoo 360, Didi Chuxing, QingCloud, and Full Truck Alliance.