GluBio Therapeutics, founded by seasoned drug developers with expertise in TPD drug discovery, has established a proprietary TPD discovery platform and is advancing diverse pipelines of highly selective small-molecule degraders.
GluBio Therapeutics(Chinese: 格博生物) recently raised $22 million in Series A+ financing round led by Qiming Venture Partners with participation from Lilly Asia Ventures and Kaitai Capital.
GluBio, founded in March, 2021, is a biotech company focused on developing novel targeted protein degradation (TPD) drugs. The startup has received nearly $90 million of investment since its inception.
This round of investment will be used to build comprehensive R&D pipelines and further upgrade GluBio's proprietary TPD discovery platform. The company's two molecular glue degraders with best-in-class potential for hematological malignancies are in the preclinical studies phase. Its three first-in-class TPD drugs for solid tumors and inflammatory diseases are about to enter the lead optimization stage.
Dr. Kan Chen, Partner of Qiming Venture Partners, said, "Targeted protein degradation is a revolutionary technology in the biopharmaceutical field. GluBio team has extensive experience in targeted protein degradation and has built a strong platform for molecular glue and new target discovery technologies, making it a promising leader in TPD field."
Its competitors include Innovo Therapeutics(Chinese:医诺康), Hinova(Chinese: 海创药业), Gluetacs Therapeutics(Chinese: 标新生物) Cullgen(Chinese: 睿跃生物), Meizer Pharma(Chinese:美志医药).