Connect Biopharmaceuticals, Ltd., a Taicang, Suzhou, China-based clinical-stage company that discovers and develops novel immune modulators for the treatment of autoimmune diseases and cancer, completed a $20m Series A financing.
The round – which follows on a recently closed Pre-A round of $5m participated by Cowin Venture Capital, Anlongmed Fund, and XinYue Equity – was led by Qiming Venture Partners with participation from Northern Light Venture Capital, Lapam Capital and Cowin Venture Capital. In conjunction with the financing, Dr. William Hu, Managing Partner of Qiming, and Dr. Xiaoping Ye, Founder, Chairman and CEO of Tigermed, join Connect’s Board of Directors.
The company intends to use the funds for the upcoming Phase 2 clinical study of its lead drug candidate CBP-307 in patients with inflammatory bowel disease (IBD); and for IND-enabling and Phase 1 studies of a second drug candidate CBP-201 for the treatment of atopic dermatitis and asthma.
Co-founded in 2012 by Dr. Wubin Pan, President and Chairman of the Board of Directors, and Dr. Zheng Wei, CEO, Connect Biopharmaceuticals has several drug candidates in its pipeline, including CBP-307, CBP-201, CBP-174 (an in-licensed drug candidate with exclusive global rights) and several early-stage discovery programs. The company also has operations in Melbourne and San Diego.
CBP-307 is a novel, orally-active, second-generation S1P1 agonist with potential for the treatment of a wide range of autoimmune diseases including inflammatory bowel disease (IBD), graft-versus-host disease (GVHD), psoriasis, and multiple sclerosis (MS).
CBP-201 is a novel monoclonal antibody for the treatment of atopic dermatitis, asthma and other types of allergic inflammation.