China: Qiming leads $20M series A in Connect Biopharmaceuticals to advance clinical study

China and Hong Kong based Qiming Venture Partners has led a $20 million series A round in Connect Biopharmaceuticals Ltda company developing immune modulators for treating conditions like autoimmune diseases and cancer, according to the company announcement on January 25.

The financing round was joined by Northern Light Venture Capital, a China focused early-stage and growth stage investment firm, Lapam Capital, a Beijing-based healthcare-focused venture capital firm and existing investor, Cowin Venture Capital that focuses in high technology enterprises.

Founded in 2012, Connect Biopharma is a clinical-stage company to identify and advance drugs though in-house discover and in-licensing.

The investment will be used to support the upcoming Phase 2 clinical study of the company’s lead drug candidate CBP-307 in patients with inflammatory bowel disease. Phase 1 studies of a second drug candidate CBP-201 for the treatment of atopic dermatitis and asthma will also be done with the current funding support.

“This new funding will allow us to accelerate the clinical development of CBP-307 and CBP-201, two potent T cell modulators targeting the most critical pathways that underlie autoimmune and allergic diseases,” said Dr. Zheng Wei, co-founder and CEO of Connect.

Dr William Hu, managing partner of Qiming said Connect has built a strong immunology drug discovery platform.

“The company’s portfolio of immune modulators are uniquely positioned to address the large unmet and rapidly growing medical needs in China and globally. We are delighted to join this exciting team to bring these innovative products to patients,” said Hu.

Qiming has been a leading Chinese venture capital firm currently managing five US Dollar funds and four RMB funds. It has $2.7billion assets under management and is the first investment in Connect.

Connect’s product, CBP-307 will be helpful for a range of autoimmune diseases including inflammatory bowel disease (IBD), graft-versus-host disease (GVHD), psoriasis, and multiple sclerosis. CBP-201 will be used for the treatment of atopic dermatitis, asthma and other types of allergic inflammation.

Also Read:

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China: Qiming Venture backs Microtech Medical; Mobile data firm Juhe gets $52m fund

China: Northern Light leads $25m series B in clinical stage firm TenNor

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.