TYK Medicines Raises 260 Million Yuan in Series B

TYK Medicines, an anti-tumor small molecule new drug research and development company, announced the completion of a 260 million yuan B round of financing, led by Yida Capital, with Sunshine Ronghui, Sanhua Hongdao, Furong Investment and Guochuang Junhe co-invested.

It is understood that  the pre-clinical application of several international leading small molecule innovative drugs, and the development of subsequent pipeline projects.

Dr. Yusheng Wu, Chairman and CEO of TYK Medicines, said that the market subscription enthusiasm for this Series B financing far exceeded our management team’s expectations. He was very pleased to be recognized by various well-known investment institutions including Yida Capital. The TYK Medicine team will use faster clinical progress and a more advanced pipeline to return the trust of new and existing shareholders.

Shi Yunzhong, founding partner of Yida Capital, said that the research and development of new anti-tumor drugs is one of the shining pearls in the global drug development field. TYK Medicines' current research products are mostly large varieties or products that solve unmet clinical needs, with huge market potential. Although it has not been established for a long time, TYK Medicines has laid out a series of blockbuster products around the field of anti-tumor in recent years. Many products have entered the clinical stage. Preclinical/clinical trial data such as product safety and efficacy have shown to be ahead of peers Advantages, product launches can be expected, and the company has unlimited future potential.

The TYK Medicines team has 1 specially-appointed expert, 1 Zhejiang-appointed expert, and more than 10 overseas returnee doctoral experts. They have rich experience in new drug research and development of well-known multinational pharmaceutical companies and lead more than ten compounds into the clinical stage. In addition, the company has 6 clinical experts with experience in dozens of clinical projects of innovative drugs. Since the team was formed in August 2018, it has completed two IND applications for Class I new drugs and carried out clinical trials. The two new target drugs have advanced from the project to the PCC stage, and one of the candidate compounds has been licensed-out.