Leto Laboratories Secures ￥100 Million in Extended Series B Round

(VCBeat) Aug. 04, 2021 -- Beijing-based Leto Laboratories announced the completion of an extended Series B financing of over 100 million RMB, which was invested by China Capital Management. The proceeds of this round will be used for the development of several peptides and anticancer cytokines in the pipelines that have achieved good results.

Previously, Leto Laboratories has received investment from Sherpa Venture Capital, Med-Fine Capital, Qirong Venture Capital, and Huaige Capital. It also completed the Series B round of financing jointly invested by Yijing Capital, Qiaojing Capital and Changping Science Park Development in October 2020. In addition, it received a strategic investment from Junshi Biosciences in 2021.

Founded in 2014, Leto Laboratories is an innovative and R&D-driven biotechnology platform enterprise. The company focuses on the engineering design and process design of recombinant proteins and engages in the development of recombinant protein drugs such as peptides, cytokines, and enzymes. The core technology of protein directional refolding and protein engineering techniques are applied to cross the core manufacturing and patent barriers in biopharmaceutical and protein product development. With these underlying technologies, Leto Laboratories aims to break the foreign monopoly of protein drug engineering and manufacturing market, and make up for the lack of core technologies in related fields in the domestic industry.

One of the core technologies of Leto Laboratories is "protein directional refolding", which synthesizes recombinant proteins from prokaryotes and then reshapes the structure of the proteins in vitro. This technique breaks through the production and cost limitations of protein production from eukaryotic cells and is especially suitable for the design and development of drugs such as peptides and cytokines.

China Capital Management, wholly owned by China Securities, was established on July 31, 2009 and is one of the first pilot institutions of direct investment business of securities companies. China Capital Management has invested in more than 170 enterprises by equity investment. Its fund management scale recorded in the association has exceeded 50.5 billion yuan.