GluBio Therapeutics, a San Diego, CA- and Shangai, China-based biotech company focused on developing novel targeted protein degradation (TPD) drugs, closed a $22m Series A+ financing.
The round, which brought total capital raised to nearly $90m since its establishment in March, 2021, was led by Qiming Venture Partners with participation from Lilly Asia Ventures and Kaitai Capital.
The company intends to use the funds to advance two molecular glue degraders into the clinic for hematological malignancies, accelerate the lead optimization entry of three first-in-class TPD drugs for solid tumors and inflammatory diseases, and further upgrade its proprietary TPD discovery platform and screening capabilities tailored for rapid discovery and optimization of small molecule protein degraders for ‘undruggable’ therapeutic targets.
Led by Gang Lu, Ph.D., Founder and CEO, GluBio Therapeutics is a pioneering TPD company dedicated to developing targeted protein degraders for human diseases with unmet medical needs via a proprietary TPD discovery platform and screening capability. GluBio is advancing a diverse pipeline of highly selective small-molecule degraders across multiple therapeutic areas including oncology and immunology.