BeBetter Med Snags ￥100M in Series A Financing

According to lieyunwang.com, Guangzhou BeBetter Medicine Technology Co., Ltd. ("BeBetter Med"), a company engaged in small molecule cancer drug discovery and development, has completed its Series A financing of hundreds of millions yuan, co-led by Lucky Source Funds and Yuexiu Fund, with participation from Sanmei Investment and other investors.

Proceeds from the latest round will be used for the clinical research and commercialization of the new pipeline of BeBetter Med.

Founded in January 2012, BeBetter Med's legal representative is Qian Changgeng. The core team of the company includes 4 special experts for major national talent projects and more than 10 overseas returnees with rich experience in research and development.

BeBetter Med is a pharmaceutical company of class 1 new drugs, focusing on first-in-class and best-in-class new drug research and development. Its goal is to develop advanced drugs to treat cancers and other serious diseases.

Through years of unremitting efforts, BeBetter Med has established several pipelines, indications covering lymphoma, breast cancer, lung cancer, ovarian cancer and other blood tumors and solid tumors, as well as non-alcoholic steatohepatitis (NASH), psoriasis and other serious diseases. Among them, BEBT-908, the first dual-target drug for recurrent or refractory lymphoma, has received special support from the national "major new drug development" program.

At present, 5 products of BeBetter Med have entered the clinical phase I and phase II trials, 3 products have entered the application stage, and many products are under the pre-clinical research.  Therefore, BeBetter Med has formed a business model with a reasonable layout and a strong capacity for innovation. Since its establishment, the company has obtained 13 Chinese patents for the invention of compounds and applied for 10 international patents for invention.

Lucky Source Funds is an equity investment firm that focuses on biomedical health in China, the United States, Canada, Israel, and other countries. Its investment covers the angel round, VC, PE to the merger and acquisition. It is mainly interested in the fields of innovative and generic drugs, medical equipment and related components, medical services and others. 

Yuexiu Fund was established by Yuexiu Financial Holding as an industrial fund in August 2011 with a registered capital of 100 million yuan. By December 2018, the company had AUM of more than 60 billion yuan. The company focuses on equity investments.