Qide Pharmaceuticals Closes On ¥100 Million in Financing Led by Huagai Capital to Develop New-generation ADC Drugs

May 8, 2019, Qide Pharmaceuticals, a newly launched biopharmaceutical company, has secured 100 million yuan in funding. Huagai Capital led the round with participation from other investors that included Huafang Capital and Chang Jin Bo Ya Fund.

This round of financing will be mainly used to promote the global clinical development of new-generation ADC drugs, as well as the R&Dand rapid layout of differentiated innovative technologies and products.

Qide Pharmaceuticals focuses on the research and development of different innovative bio-coupling drugs by adopting independent innovative LDC technology and international leading iLDC platform. The iLDC platform of the company adopts the intelligent continuous coupling process catalyzed by biological enzymes，and has successfully achieved the pilot production of a new generation of highly homogeneous ADC drugs, which significantly improves the quality and reduces the cost.

The platform process changes the current batch production mode of chemical coupling，which can be widely used in the automatic production of various biological coupling drugs represented by ADC drugs. Based on this platform, Qide Pharmaceuticals has carried out various types of innovative bio-coupling drug research and developed cooperation with many enterprises.

"As our innovative ADC products are about to enter the clinical stage and the product line is expanding rapidly, we are pleased to be recognized and supported by leading investors in the industry, such as Huagai capital. We are looking forward to their cooperation to promote the company fast through highly innovative product development and industrialization, at the same time to further strengthen the company technology platform , and expand application of differentiation innovation, rapid increase in tumor precise layout and unique advantages in the field of diagnosis and treatment, meet the needs the innovation of the diagnosis and treatment for cancer patients in the world," said Dr. Qin Gang, chairman, and President of EIC.

Huagai Capital is a private equity investment firm that invests in startups or growth companies in the areas of healthcare, TMT, and culture.

Chang Jin Bo Ya is a development fund. Government of Changping District set up the fund in order to build an ecological investment platform, asset management, technology, as well as the finance and industry service system of the three major businesses. At present, Chang Jin Bo Ya Fund has acquired equity industrial carrier of nearly 600,000 square meters.