Regor Therapeutics, a clinical-stage biotech company with operations in China and the US, has secured $90 million in a Series B round of financing led by the biomedical venture capital (VC) firm Lilly Asia Ventures (LAV).
The new round saw participation from investors including China-focused private equity (PE) firm Loyal Valley Capital (LVC); cross-border, pharmaceutical-focused PE Lanting Capital (LVC); TF Capital, which primarily invests in early-stage life sciences startups; and Vertex Ventures China.
Chinese drug maker Qilu Pharmaceutical Group had backed Regor’s Series A round.
Founded in July 2018, Regor specialises in the discovery and delivery of clinically differentiated, best- and first-in-class drugs for patients globally to treat cancer, immune disorders, and metabolic diseases.
The startup leverages its proprietary Computer Accelerated Rational Discovery (CARD) platform to seamlessly integrate structural biology, computational chemistry, therapeutic biology, medicinal chemistry, and clinical development. It has advanced numerous discovery programmes from ideas to a clinical start in two years.
The fresh capital will be used to fund the firm’s R&D of new drug molecules, clinical research, and development of its subsequent product pipeline.
The new financing puts Regor “in a strong position to advance pre-clinical and clinical studies of multiple programmes,” said Qiu Xiayang, the company’s founder and CEO, in a statement. “We are looking forward to long-term collaborations with our investors, as we aim to improve the treatment outcomes for worldwide patients of chronic diseases, cancer, and other life-threatening diseases.”
The lead investor, LAV, is in the market raising two new funds: LAV Fund VI, which aims to raise $900 million, and LAV Fund VI Opportunities, with a target of $450 million, the firm revealed in two filings with the US Securities and Exchange Commission (SEC) in January.
LAV already received capital commitments from limited partners (LPs) like US pension fund San Francisco Employees’ Retirement System (SFERS), and US retirement fund manager Los Angeles County Employees Retirement Association (LACERA).
The two new funds will primarily make venture, growth, and public equity investments in the biomedical industry, with a focus on China and the US. The vehicles will invest across different stages ranging from early-stage to public listed equities, but they plan to place a great emphasis on early-stage investments.