KBP Biosciences, a Greater Philadelphia Area and Jinan, China-based private clinical-stage biotechnology company dedicated to the research, development and commercialization of innovative medicines in areas of unmet medical need, closed a $76m Series A financing.
The round was co-led by Advantech Capital and SDIC Venture Capital, with participation from Sangel Capital, Ping An Ventures, Bay City Capital GF XINDE Life Science Investment Fund, Efung Capital, CASH Capital, Cowin Capital Group, Korea Investment Partners and Elite Capital.
The proceeds be used to expand the business and operational structure of the company, including the opening of global corporate headquarters in the Greater Philadelphia Area, to advance the clinical development of its lead candidate KBP-5074, a mineralocorticoid receptor antagonist for cardiovascular disease entering Phase 2b; and to support other programs in the pipeline.
Founded by serial entrepreneur Dr. Zhen Hua Huang, KBP Biosciences has developed a medicinal chemistry platform and preclinical development team to identify and progress products with known mechanisms of action in areas of unmet medical need in cardiovascular, infectious disease, respiratory, inflammatory and autoimmune diseases. In addition to KBP-5074, the company has several candidates in preclinical and early-stage clinical development, including:
– KBP-7072, a 3G aminomethylcycline for multi-resistant bacterial infections that has completed Phase 1 and has received Qualified Infectious Disease Product and Fast Track designations from the U.S. Food and Drug Administration (FDA), and
– KBP-7026, a novel CRTH2 receptor antagonist targeting asthma/COPD with an approved IND and ready to enter Phase 1 clinical development.