Lijin Biotech announced the completion of the $30 million Series B financing, led by Tonghe and the other investors including Winfair Global and Runyi Capital, and the original investor Morningside Ventures.
Founded in May 2016, Lijin Bio is located in Zhangjiang Hi-Tech Park, Pudong, Shanghai. It is committed to inventing and creating new drugs with independent intellectual property rights and targeting major diseases such as cancer. Founded by Dr. Wang Jieyi, a former senior scientist in Aberdeen's oncology research and development, Dr. Wang Jieyi has worked in Abbott and Abbott for 22 years and has extensive experience in research and development of new anticancer drugs and tumor immunity.
Founded in May 2016, Lijin Bio is located in Zhangjiang Hi-Tech Park, Pudong, Shanghai. It is committed to inventing and creating new drugs with independent intellectual property rights and targeting major diseases such as cancer. Lijin Biotechnology has the world's leading cross-linking antibody technology platform and optimized stimulating antibodies, especially its unique xLinkAb (cross-linking antibody) technology can selectively activate specific receptors in tumor microenvironment and reduce normal tissue immune side effects. . The company focuses on the development of the world's leading combination of tumor immune activation antibodies and cancer immunotherapy, in order to improve the long-term survival rate of cancer patients. At present, Lijin Bio-PD-1 humanized monoclonal antibody SSI-361 has authorized Anke Bio to develop the Chinese market.
“We believe that Lijin Bio is a potential investment opportunity. Lijin Biotechnology's unique cross-linking antibody technology platform can effectively solve the side-effect problems in current tumor immunotherapy and further realize the selection of certain types of receptors. Sex-specific activation is expected to further expand the target of tumor immunotherapy and the scope of adaptation. Dr. Chen Lianyong, CEO and founding partner of Tonghe Yucheng, said: "I believe that under the leadership of Dr. Wang Jieyi, the company can bring more cancer patients. An immunotherapeutic drug with multiple effects and low side effects."
The funds from this round of financing will be used to promote the preclinical development of several competitive new tumor immunotherapy molecules in the current R&D pipeline of Lijin Bio and to enter clinical trials in the future. Lijin Bio will also use the funds raised to further expand its cross-linking antibody technology platform and develop new immunotherapy for more relevant indications. The successful completion of this round of fundraising also shows the great potential of investors for Licence and the confidence of the company's leadership in responding to patients and investors.
Tonghe Yucheng will, as always, strengthen its investment in innovative technologies in the field and accelerate the development and clinical trials of related drugs and therapies. We hope that through the help of capital, we can help Lijin Bio to further release its research and development capabilities, and introduce new drugs and treatment solutions for cancer immunotherapy!
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