China Biopharmaceutical invested in New Pharmaceuticals with self raised funds, and reached strategic cooperation on LM-108 and many potential innovative bispecific antibodies or antibody conjugated drugs (ADC) in Chinese Mainland.

According to the announcement, this agreement includes equity investment and strategic cooperation. In terms of equity investment, Lixin Pharmaceutical announced on October 18, 2024, the completion of a RMB 300 million C1 round of financing, raising funds to accelerate the development of clinical pipeline drugs and the construction of innovation platforms. According to the capital increase subscription agreement, China Biopharmaceutical, as the lead investor in this round of financing, paid RMB 142 million to Lixin Pharmaceutical and acquired 4.91% equity of Lixin Pharmaceutical after this transaction.

In terms of strategic cooperation: China Biopharmaceutical and Lixin Pharmaceutical reached a strategic cooperation agreement on LM-108 in Chinese Mainland. In addition, Chinese biopharmaceuticals have the right to choose multiple bispecific antibodies or ADC innovative drugs from Lixin Pharmaceutical's research pipeline for cooperation, with specific terms to be agreed upon separately.

LM-108 is a monoclonal antibody targeting CCR8 independently developed by Lixin Pharmaceutical based on its exclusive multiple transmembrane protein antibody discovery platform. CCR8 is specifically expressed in regulatory T cells (Tregs) in the tumor microenvironment, with high expression only in Tregs infiltrated by the tumor and minimal expression in peripheral blood. At present, specific expression of CCR8 has been observed in Treg of breast cancer, lung cancer, colon cancer, head and neck cancer. LM-108 specifically clears tumor infiltrating Tregs without affecting peripheral Tregs, enhancing its immune killing effect on tumor cells.

LM-108 is currently in Phase 2 clinical stage. Early exploration of clinical research data shows that LM-108 has demonstrated good safety and efficacy in the treatment of various solid tumors, and is expected to provide better treatment options for advanced cancer patients.

China Biopharmaceutical announced that the field of oncology is one of its key treatment areas for innovative development. After years of deep cultivation, multiple products have been approved for market, and there are also multiple innovative drug projects in the clinical development stage. Lixin Pharmaceutical is a company that focuses on the research and development of innovative drugs in the field of oncology. It has a monoclonal antibody screening platform, dual antibody technology platform, and ADC drug development technology platform, and has established multiple differentiated innovative drug research and development pipelines. China Biopharmaceutical has accumulated rich clinical development and commercialization advantages and resources in the biopharmaceutical industry. Through this equity investment and strategic cooperation, China Biopharmaceutical will further enrich and improve its pipeline layout in the field of oncology. China Biopharmaceutical will also provide comprehensive support for Lixin Pharmaceutical's innovative drug pipeline development and commercialization, accelerate product launch, and benefit more cancer patients.

Source: https://pharm.jgvogel.cn/c1463844.shtml