SHANGHAI, January 28, 2022 /PRNewswire/ — HanBio Therapeutics (“HanBio”), a biotechnology company engaged in the research and development of next-generation transformative medicines, today announced that it has completed a $40 million Series A funding to advance the preclinical and clinical development of its series of novel antibodies and other biologics. This financing round was jointly led by OrbiMed and Hankang Capital, followed by Yonghua Investment and Elikon Investment. Prior to the end of this round of financing, HanBio was one of the first research and product development companies incubated by Sunshine Guojian Pharmaceutical (Shanghai) Co., Ltd. (“Sunshine Guojian”). The Company’s current pipeline includes three IND and pre-IND stage bispecific antibodies, as well as a variety of early stage antibodies and other biologics.
dr. Zhenping Zhu, Founder, Chairman and CEO of HanBio, said, “We highly appreciate OrbiMed and Hankang Capital and other investors for their recognition of HanBio’s R&D capability, innovative pipeline and overall development strategy. This fundraising will be used for preclinical studies, research and clinical trials of our multiple antibody and bispecific antibody products, as well as the establishment of an effective corporate management and R&D team. . We expect to submit IND applications to regulators within two China and United States for three innovative bispecific antibody products in 2022. On the research front, we will focus on exploring new therapeutic targets and modalities, and developing innovative drugs with improved safety and efficacy profiles compared to current standard treatment options.
Dr. Zhu has extensive experience and an excellent track record in the biopharmaceutical industry, including more than 28 years of research and management experience in several world-renowned pharmaceutical companies. Prior to founding HanBio, Dr. Zhu served as President of R&D and Chief Scientific Officer of 3SBio Group. Prior to joining 3SBio, Dr. Zhu served as Executive Vice President at Kadmon Holdings, Vice President and Global Head of Protein Sciences at Novartis Biologics, and Vice President of Research at ImClone Systems. Dr. Zhu has been instrumental in the discovery and development of a number of therapeutic antibody products approved by the US FDA, European EMA, and Chinese NMPA; he is the patented inventor of ramucirumab (CyramzaR) and necitumumab (PortrazzaR), and one of the main contributors to cetuximab (ErbituxR). Dr. Zhu has published over 200 peer-reviewed scientific papers in international journals and has applied for or been granted over 150 patents in China, United States and other international territories.
dr. Jing Lou, Chairman of Sunshine Guojian, said, “I am very pleased that HanBio, as the first product R&D company incubated by Sunshine Guojian, is being recognized by major biotechnology investors. Sunshine Guojian is committed to working with investors to fully support HanBio for the rapid development of the company’s innovative products that will benefit cancer patients. China and all over the world.”
dr. Steven Dasong Wang, Partner at OrbiMed, said, “Dr. Zhu is one of the pioneers and leaders of the global biopharmaceutical industry. Several antibodies he invented or greatly contributed to, including ramucirumab (CyramzaR) and cetuximab (ErbituxR), have become one of the most prescribed biologics for the treatment of gastric and colorectal cancers, with total annual worldwide sales approaching 3 billion US dollars. HanBio, led by Dr. Zhu, impressed us with its holistic approach to target selection, antibody discovery and design, and clinical translation strategy with a particular focus on cancers of the human digestive system. We look forward to helping the company advance the clinical development of its products and achieve breakthroughs in the treatment of high-prevalence cancers in China.”
Mr. Quanhong Yuan, partner of Hankang Capital, said, “PD1/PDL1 antibodies have reshaped the landscape of cancer treatment, but they also face the problem of limited response rate. Combination therapies and bispecific antibodies represent a new wave of therapeutic modalities and should provide a breakthrough solution for the treatment of PD1/PD1 resistant tumors. Dr. Zhu and his team at HanBio have rich experience and excellent track record in the field of antibody R&D and tumor immunotherapy. We expect HanBio to achieve great success in the cancer treatment field.”
About HanBio Therapeutics
“Transformative Medicines Through Innovation.” HanBio Therapeutics is an innovative biotechnology company engaged in the research and development of next-generation transformative medicines to treat patients with serious diseases.
For more information please contact:
Zhenping ZhuMD, PhD
E-mail: [email protected]
[email protected]
Tel: +1 347 327 0705 (United States)
+011 86 186 1234 0399 (China)
SOURCE HanBio Therapeutics