Hope Medicine Lands $56M Series B Funding

(VCBeat) May. 6, 2021 -- Recently, Hope Medicine Inc. ("Hope Medicine") announced the closing of a $56 million Series B financing round, jointly led by Qiming Venture Partners and Grand Flight Investment, with participation from Highlight Capital, Sinovation Ventures, and the existing investor Trustbridge Partners. Haoyue Capital served as the exclusive financial adviser of this round. This investment will support Hope Medicine's upcoming Phase II clinical trials and pipeline development of MRCT globally.

Hope Medicine is a science-driven drug discovery and development company committed to original innovation. Hope Medicine headquarters in Nanjing, and has R&D bases and offices in Shanghai and Beijing. The company was founded by Professor Xiao Ruiping, dean of Peking University Future Technology Institute and deputy editor of the New England Journal of Medicine. Hope Medicine has always followed the concept of "In China, for global" and built an international professional team, committed to solving the unmet global clinical needs with first-in-class new drugs.

Focusing on the fields of women's health, endocrine and cardiovascular diseases and aiming at various unmet clinical needs, Hope Medicine has further established diversified pipelines through independent R&D and License-in dual-engine mode.

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and San Francisco Bay Area. Currently, Qiming Venture Partners manages seven US Dollar funds and five RMB funds with over US$4 billion assets under management. Qiming Venture Partners invests in information technology, new consumer business patterns, and the healthcare sector.

Grand Flight Investment, founded in mid-2016 and sponsored by Far East Horizon (HK.03360), is an emerging venture capital and private equity firm that manages both USD and RMB funds. It focuses on discovering extraordinary companies in the early or expansion stage through our expertise in TMT, education, healthcare, enterprise service, and clean technology.