Kangpu Lands Nearly 100 million Yuan in Series Pre-B Financing

Kangpu Biomedical Technology (Shanghai) Co., Ltd. (hereinafter referred to as “Kangpu Biomedicine”) has announced the completion of nearly 100 million yuan in series Pre-B financing. It is jointly invested by Shenzhen Guozhong Venture Capital, Furong Investment, and Northern Light Venture Capital (investor of A round). 

“This round of financing will accelerate the pace of clinical trials of the company's projects and accelerate the preclinical development of other innovative drug candidates,” said Dr. Ge Chuansheng, the founder, chairman, and CEO of Kangpu Biomedicine.

Founded in 2011, Kangpu Biomedical is a company focusing on cancer, autoimmune diseases, inflammation, and other therapeutic areas. Based on its own patented technology like protein ubiquitination and its degradation, the development of new class I small molecule targeted immunomodulatory innovative drugs.

Kangpu Biomedicine has established a rich research and development pipeline in the treatment for cancer, myelodysplastic syndrome, diffuse large B-cell lymphoma, multiple myeloma, mantle cell lymphoma, inert cell lymphoma, systemic lupus erythematosus, psoriasis, arthritis, prostate, etc.

Shenzhen Guozhong Venture Capital believes that the new small molecule immunomodulatory targeting drugs used by Kangpu Biomedical, can overcome the drug resistance of existing drugs and significantly improve the effectiveness of drugs. Also, this therapy provides new ideas for the effectiveness and safety of long-term medication.

At present, the development of new drugs based on the ubiquitin-proteasome system has also attracted many multinational pharmaceutical companies, such as Roche, Pfizer, Merck, Novartis, and GlaxoSmithKline, which have invested billions of dollars to develop a small molecule new drug for protein degradation.

Northern Light Venture Capital is a Venture Capital focuses on investing in early, technologically innovative and excellent enterprises. Northern Light Venture Capital manages 5 US dollar funds and 5 RMB funds. The total assets under its management amount to 30 billion yuan.

Shenzhen Guozhong Venture Capital is a private equity investment institution specializing in the management of venture capital investment. Currently, it has been entrusted to manage the first entity of the National SME Development Fund of 6 billion yuan.