China’s Qiming Ventures leads $37m funding in AlphaBio Biopharma

Visual from Alpha Biopharma's website.

Chinese venture capital firm Qiming Venture Partners took the lead in the $37-million first close of Shanghai-based biopharmaceutical firm Alpha Biopharma (AlphaBio)’s Series A financing.

The funding round also saw the participation of TF Fund and the LYZZ Healthcare Venture Fund, according to a AlphaBio press release. The firm is looking at raising $65 million for the entire Series A financing round.

A clinical stage company focusing on research and development of therapeutics for unmet medical needs, AlphaBio said it will use the proceeds to conduct a global multi-center Phase II clinical study of its lead product, AZD3759, and expand its product pipeline.

The company describes its lead product as a next-generation small molecular tyroine kinase inhibitor specifically designed to treat lung cancer patients with central nervous metastases, a form of cancer that spread to different part of the body from where it started.

“The strong financial support by Qiming Venture Partners and other prominent financial investors will allow us to further accelerate our commercial development of AZD3759 across the Asia Pacific region,” said James Liu, COO of AlphaBio.

As lead investor in the financing round, Qiming Venture Partners has appointed managing partner Dr. William Hu to the Board of Directors of AlphaBio.

In April, Qiming Venture Partners announced the successful close of three new funds totaling $1.39 billion, with focus on investing in Chinese and US tech and healthcare firms.

The venture capital firm said it has closed Qiming Venture USD Fund VI, with $935 million in commitments; Qiming Venture RMB Fund V, with Rmb2.1 billion ($335 million) in commitments; and Qiming US Healthcare Fund I with $120 million in commitments.

The three new funds bring Qiming’s total funds under management to over $4 billion across 12 funds, the company said.

Founded in 2006, Qiming has offices in Shanghai, Beijing, Suzhou, Shenzhen and Hong Kong. In 2017, Qiming raised its first US fund and set up Qiming’s US offices in Seattle, Boston, and Palo Alto.

Also Read:

China’s Qiming Venture raises $1.39b for three new VC funds

China Digest: Qiming backs LetsGetChecked; ZhenFund re-invests in Dandelion

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.

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.