YZY Biopharma Closes Extended Series B Round

(VCBeat) Jan. 28, 2021 -- Less than a month after Wuhan YZY Biopharma Co., Ltd. ("YZY Biopharma") completed its Series B round, the company announced recently that it has extended that investment round, with participation from Wuhan Institute of Biotechnology and Lanjing Investment. The funds raised will further accelerate the clinical development of the company's core products M701(an anti-EpCAM/CD3 bispecific antibody) and M802(an anti-HER2×CD3 bispecific antibody).

YZY Biopharma is a leading biotechnology company. The company's vision is to develop a new class of innovative medicines based on the breakthrough discovery in molecular biology. YZY Biopharma is committed to anti-tumor bispecific antibody development, of which two bispecific antibodies have been submitted IND application in China, and several innovative drugs are in the pre-clinical stage. 

YZY Biopharma's pipeline covers major diseases such as oncology, inflammation and cardiovascular disease. Among them, three products for the treatment of gastric cancer, breast cancer (the HER2/CD3 bispecific antibody), advanced cancerous ascites (the EPCAM/CD3 bispecific antibody), and multiple myeloma (the CD38/CD3 bispecific antibody) have been approved by Chinese and American clinical authorities and have been carried out clinical studies. Such products are expected to bring better therapies for cancer patients.

The Wuhan Institute of Biotechnology participating in this round is a large-scale comprehensive service platform for biological industry established by Hubei Provincial People's Government and Wuhan Provincial People's Government cooperating with universities in Wuhan, including Wuhan University, Huazhong University of Science and Technology, Huazhong Agricultural University, Wuhan Branch of Chinese Academy of Sciences, etc. 

As a platform for the integration of scientific and technological innovation resources in the biological field of Hubei Province, The Wuhan Institute of Biotechnology has always been committed to improving the service system and helping more innovative projects in Wuhan to transform their achievements.

Through this latest financing, YZY Biopharma successfully introduced the state-funded fund. At the same time, the company will give full play to its advantages in resource integration and platform services to provide all-round support for the company's rapid development in the future.