Connect Biopharmaceuticals Completes Its Series B Financing of USD 55 Million
The biochemical company, Connect Biopharmaceuticals, announced that it acquired its Series B financing of USD 55 Million today. This round of funding is led by Advantech Capital.
Jan 3, 2019 /EqualOcean/ - The biochemical company, Connect Biopharmaceuticals (康乃德生物制药), announced that it acquired its Series B financing of USD 55 Million today. This round of funding is led by Advantech Capital (尚珹投资), followed by Qiming Venture Partners (启明创投) , Cowin Venture Partners (凯风创投), Northern Light Venture Capital (北极光创投). Ms JIN Jinghua (金京华), the partner of Advantech Capital, will join the board of directors of Connect Biopharmaceuticals after this round of funding.
Connect Biopharmaceuticals announced officially that this series of funding will keep invested in their ongoing projects: CBP-307 that is in currently in Phase 2 studies in ulcerative colitis and Crohn's disease; and CBP-201 that is in a first-in-man study in healthy volunteers. These drugs will be used to deal with autoimmune disease and allegic inflammation, which is the pharmaceutical direction of Connect Biopharmaceuticals.
CBP-307 is the subpopulation-specific T cell immune modulator, which can reduce the entry of T cells into the inflamed tissues. T cell is one of the white blood cells that plays a central role in cell-mediated immunity, However, when people have an autoimmune disease, the immune system could attack its own tissues and organs. CBP-307 can ease the symptons of autoimmune disease by reduce the entry of T cells.
CBP-201 is also an immune modulator, which regulates certain populations of T cells. During the treatment in asthma and atopic dermatitis, instead of suppress the whole immune system, CBP-201 can regulate certain T cells. CBP-201 can minimize the side effects of traditional global immune suppression treatment.
The new drugs may become popular in the future, and the leader of the programs is very experienced in new drug development. Dr ZHENG Wei (郑伟), the CEO of Connect Biopharmaceuticals and the innovative talent in "The Thousand Talents Program", has 25 years of biopharmaceutical experience in the autoimmune diseases and inflammation. The drug (GSK1605786) he developed to cure Crohn's disease has been bought by GSK for more than USD 100 million.
Also, the institutional investors have professional investment in pharmaceuticals industry as well. Advantech Capital, mainly invest in pharmaceuticals industry and new technology, see the value in Connect Biopharmaceuticals.
The Funding Series of Connect Biopharmaceuticals:
The Series B financing indicates that the situation of new drug investigation is optimistic, and Connect Biopharmaceuticals has the possibility to bring a better life for the patients with autoimmune disease and allegic inflammation.