TongliBio Raises ￥10M in A New Round of Financing

According to VCBeat, Tongli Biomedical Co., Ltd ("TongliBio") recently announced the completion of a new funding round of tens of millions from Hangzhou Tiger Equity Investment Partnership, a subsidiary of Tigermed. Tianchao Capital served as the financial adviser of the latest round. The funds raised will be used to promote the clinical trial and production of TL-010, TongliBio's candidate drug against zoonotic diseases.

TongliBio completed the first round financing of 10 million yuan in 2017, with participation from Shanghai Jingtong Investment and TF Capital.

Founded in 2012, TongliBio is a privately held and clinical-stage biopharmaceutical company.  The company focuses on unmet medical needs with niche disease areas, including orphan drugs and molecular diagnostics for infectious diseases and zoonoses that greatly threaten global public health.

TongliBio It has conducted pioneer preclinical and clinical research with anti-infectious agents such as TL-010 and developed proprietary chemoenzymatic process technology for green pharmaceutical manufacturing.

TongliBio's flagship product TL-010 has finished the pre-clinical evaluation of druggability, process optimization of API and tablet, and pilot batch production. Then it obtained many invention patents in China, the United States and other countries. TongliBio has got the certification of TL-010 by the Food and Drug Administration both in the US and South Africa, and successfully completed the international phase I clinical trial of the new drug in 2019.

At present, Tigermed plans to seek commercial partners and manufacturers for joint development. TL-010 is expected to be approved by the FDA 505(b)(2) in the United State and listed early in the market of the US, China and other countries.

Tigermed is a contract research organization providing whole process clinical trial services for the research and development of pharmaceutical products. Since its inception, the company is dedicated to the provision of medical research and development services that enables clients to reduce the risk and cost of R&D, while advancing the process of marketization.