Recently, Lixin Pharmaceutical Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Lixin Pharmaceutical") announced that it has successfully completed a C1 round of financing of RMB 300 million. This round of financing was led by China Biopharmaceutical, a well-known domestic industry party, and co-invested by Pudong Venture Capital and Zhang Jianghaoheng. Old shareholders Qiming Venture Partners and Shanghai Biomedicine Fund followed suit. Zhong Lun served as the legal advisor for this round of financing.

Lixin Pharmaceuticals also mentioned that it has recently launched the C2 round of financing. The funds raised will be mainly used to accelerate the clinical progress of clinical pipelines, especially LM-302 and LM-108, and support the independently developed antibody discovery platform, next-generation ADC technology platform, and bispecific antibody technology platform, and continue to produce innovative pipelines with international competitiveness.

About Lixin Pharmaceuticals Lixin

Pharmaceuticals is a biopharmaceutical company based in China and facing the world. It was founded in 2019 by senior people in the biopharmaceutical industry. With the mission of "respecting life and striving for innovation", Lixin Pharmaceuticals focuses on the unmet treatment needs in the field of tumor immunity and tumor microenvironment, and focuses on the research and development of innovative biological drugs with "global first" and "best in class" potential. Lixin Pharmaceuticals has comprehensive R&D capabilities across the entire chain, especially focusing on the research and development of large-molecule anti-tumor drugs targeting GPCRs and multi-transmembrane proteins, and has ADC drug and bispecific antibody drug development platforms to implement differentiated drug development routes.

At present, Lixin Pharmaceuticals has established a number of differentiated innovative drug pipelines with independent intellectual property rights and global competitiveness, and has successfully promoted a number of innovative drug projects to the world's leading clinical stage. Among them, LM-302 (anti-CLDN18.2 ADC) has been carried out in China Phase III registration clinical trials; LM-108 (anti-CCR8 monoclonal antibody) is in Phase II clinical trials; LM-101 (anti-SIRPα monoclonal antibody), LM-305 (anti-GPRC5D ADC, global rights have been authorized to AstraZeneca), LM-299 (anti-PD-1/VEGF dual antibody) and LM-24C5 (anti-CEACAM5/4-1BB dual antibody) are all in Phase I clinical trials.
Dr. Qin Ying, founder, chairman and CEO of Lixin Pharmaceuticals, said: "Since its establishment, Lixin Pharmaceuticals has always adhered to original independent innovation, focused on the tumor microenvironment, and focused on the development of tumor-specific targeted ADCs and immunomodulatory macromolecule innovative drugs. It has established a complete set of differentiated innovative drug pipelines with independent intellectual property rights and global competitiveness from preclinical to clinical phase III. We are very pleased to successfully complete the C1 round of financing, and we are particularly grateful to the new and old investors for their continued recognition and support of the company during the cold winter of pharmaceutical investment. We will live up to expectations and accelerate the advancement of the two late-stage clinical pipelines of LM-302 and LM-108, and strive to achieve product launch as soon as possible. At the same time, we will continue to produce early-stage original innovative pipelines focusing on unmet treatment needs in the fields of tumor immunity and tumor microenvironment, and continue to actively explore diversified and close cooperation with various partners and all walks of life, further enhance the company's self-hematopoietic ability through BD cooperation, and work together to promote Chinese innovative drugs to the world, and make unremitting efforts to provide more patients with high-quality treatment solutions and bring healthier lives."

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