Qure Bio completed nearly 200 million yuan in Series B financing

December. 23, 2021

In December 2021, Qure Biotechnology (Shanghai) Co., Ltd. (hereinafter referred to as Qure Bio), a company focusing on innovative bispecific and multispecific antibodies drug research and development platforms, announced the completion of nearly 200 million yuan in Series B financing. This round of financing was funded by BOCOM International (Industrial Investment Fund) led the investment, followed by Guoshun Investment, Oriza Holdings, Lihe Hongxin, Tianfu Sanjiang Capital, Pudong Innotek Capital and Longmen Capital. WinX Capital acted as the lead financial advisor for this round of financing.

Qure Bio is a research and development company focusing on innovative macromolecular biological drugs. The company's goal is to develop new therapeutic biological drugs for intractable cancers and autoimmune diseases in China and the world. Qure Bio has strong independent research and development capabilities and has established several innovative platforms, including phage display technology platform, hybridoma antibody humanization platform, single domain antibody platform and antibody engineering.

Among them, the hybridoma antibody humanization platform can overcome immune tolerance and successfully completed several multi-transmembrane antigen projects; the phage display platform is a synthetic human library platform that can be used for bispecific antibody screening of common light chain libraries.

Relying on its own platform, Qure Bio has developed a series of new biological drugs with independent intellectual property rights. Among them, Q1802 (Claudin18.2/PD-L1 bispecific antibody) obtained the Sino-US clinical approval in March 2021, and the clinical phase Ⅰ trial is about to be completed. The company is about to carry out a differentiated clinical promotion strategy. Q1802 is expected to become the first domestically approved product in a highly competitive environment; Q1801 (SIRP⍺/PD-L1 bispecific antibody) is applying for clinical approval. In addition, the company has also deployed a number of innovative varieties of bispecific antibody and tripecific antibody, and has applied for related patents.

Qure Bio's technology in antibody engineering and screening has also been widely recognized in the industry. Using Qure Bio's own technology platform, Qure Bio has successively reached a series of cooperation with well-known biotechnology companies in the industry, including BRL Medicine, BioMap, Hengrui Pharma, Precision Scientific. These collaborations fully reflect Qure Bio's industry status in the field of innovative macromolecular biopharmaceuticals.

Qu Xiangdong, founder of Qure Bio, said: I am very grateful to the top biomedical investment institutions for their support to the company. Qure Bio will continue to focus on using its own technology platform to develop innovative biological drugs for intractable cancers and autoimmune diseases and other diseases in China and the world, benefiting patients and meeting currently unmet clinical needs.

Xi Xuanhua, deputy CEO of BOCOM International, the lead investor of this round of financing, said: "Innovative tumor immunotherapy drugs are the focus of BOCOM International's medical and health investment team, and Qure Bio is a representative and outstanding enterprise. The founding team of the company has worked in well-known pharmaceutical companies at home and abroad such as Amgen, Eli Lilly and Pfizer for more than 20 years, and has a profound understanding of tumor immunology and rich industrial experience in the field of biomedicine. The company has established an excellent clinical team with strong clinical promotion efficiency and execution. On the basis of adhering to innovation, the company's pipeline layout reduces R&D risks with ingenious target combinations and unique structural design, and improves product R&D success rate and market prospects through differentiated clinical positioning. BOCOM International is honored to lead Qure Bio in this round of financing. We hope to continue to support the product development process of the company and its team, and help the company to become a leader in a new generation of innovative biological drugs.

Dr. Zou Guowen, a partner of WinX Capital, said: WinX Capital is honored to help Qure Biotech complete this round of financing in an all-round way. Qure Bio has a full-process R&D team for innovative bispecific and tripecific antibody. The product pipeline layout has a differentiated project approval strategy and forward-looking. The CMC process industry is leading, and the clinical promotion efficiency is extremely high. It is deeply recognized by new and old shareholders. We are also very grateful With the trust of the Qure Bio team, we hope that Qure Bio will accelerate the advancement of clinical projects and benefit patients as soon as possible.

About BOCOM International

BOCOM International Holdings Company Limited (“BOCOM International”, stock code: 3329.HK) is the only integrated platform for securities and securities-related financial services of BOCOM (a state- owned joint stock commercial bank) in Hong Kong. As one of the earliest licensed securities firms with a PRC background in Hong Kong, BOCOM International has weathered many economic and industry cycles as well as regulatory reforms since its establishment in 1998, and has grown to become one of the largest securities firms specialising in securities brokerage and margin financing, corporate finance and underwriting, investment and loans, asset management and advisory businesses in Hong Kong. BOCOM International successfully landed on the main board of the HKEX on 19 May 2017. BOCOM Industrial Investment (Hangzhou) Equity Investment Fund is the first commercial bank-based technology innovation equity investment fund established in Zhejiang, co-sponsored by BOCOM International and Hangzhou Capital, and jointly established with Hangzhou Heda and Changxing Financial Holdings, Bank of Communications Zhejiang Branch serves as the fund custodian, and the fund is located in Qiantang District, Hangzhou. The fund is based on serving the integrated development of the Yangtze River Delta, integrating financial services and technology industries, deeply cultivating the advantages of Hangzhou and Zhejiang regional technology industries, and is committed to tracking technologies, products and applications that improve efficiency and experience in the era of 5G, new energy, and population aging, focusing on investment opportunities for growing companies in the fields of health care and data intelligence.

 About Oriza Holdings

Since 2001, Oriza Holdings has been committed to the equity investment area, and in charge of over 100 billion Yuan. It is one of the leading equity investment institutions in China. Since its establishment, it has focused on investment opportunities in emerging industries such as integrated circuits, biomedicine, artificial intelligence, nanotechnology applications, cloud computing, and big data, and insisted on supporting real industries and promoting industrial transformation and upgrading. At present, there are over 1,000 direct investment projects, and Oriza FoFs has invested in 129 sub-funds.

About Lihe Hongxin

Established in 2016, Shenzhen Lihe Hongxin Venture Investment Partnership(L.P.), focuses on investing in strategic emerging industries such as biomedicine, new energy, new materials, electronic information, integrated circuits, and high-end equipment. The investment stage is mainly in the early stage, and more than 60 projects have been invested so far. In response to the call for vigorously developing a high-level biomedical industry in the Made in China 2025 plan, and to implement the major deployment of strategic emerging industries such as biomedicine, high-end medical imaging, and genetic technology in Shenzhen's "13th Five-Year Plan", Lihehong Xin is based in Shenzhen and faces the world. In recent years, it has gradually increased its investment in high-tech enterprises in the field of biomedicine.

About Tianfu Sanjiang Capital

Chengdu Tianfu Sanjiang Asset Management Co., Ltd. was established in June 2019. The investment scale currently under management exceeds 3 billion yuan, and the investment fields cover innovative drugs, emerging consumption and technology manufacturing.

About Pudong Innotek Capital

Shanghai Pudong Innotek Capital Co.Ltd is a state-owned venture capital group established by the People's Government of Pudong New Area, specializing in venture capital, technological financial services and overseas resource integration. It focuses on investing in companies with high technology content and strong innovation capabilities. At present, it has served more than 1,500 companies through guarantees, loans, financial leasing, etc., more than 200 direct investment companies, and more than 50 invested companies are listed, including 26 companies listed on the Science and Technology Innovation Board. The assets under management exceed 60 billion yuan, and more than 60 venture capital funds have been invested, with a total fund size of more than 100 billion yuan. It is one of the state-owned venture capital enterprises with the longest history and the strongest investment capability in China, and the state-owned venture capital platform with the most global investment capability and brand influence in Shanghai.

 About Longmen Capital

Longmen Capital is a professional venture capital institution in the pharmaceutical industry, focusing on research and early-stage investment in innovative pharmaceutical biology. Team members are all medical or biological backgrounds and have many years of industry experience. Since its establishment in 2017, Longmen Capital has invested in more than 30 pharmaceutical innovation companies, with a management scale of more than 2 billion yuan.

 About WinX Capital

WinX Capital is a leading investment bank in the healthcare sector in China. Five of the founding team are Ph.D.s in global finance from the PBC School of Finance, Tsinghua University. The front-line team has an average of 10+ years of experience in management, investment and mergers and acquisitions, and the cumulative investment and mergers amount exceeds 30 billion yuan. Headquartered in Beijing and Shanghai, it covers more than 3,000 active investment institutions and industrial groups. In 2020 and 2021, it was continuously rated as "Top 5 of China's Most Growing New Investment Banks by WISE 2020" by 36Kr, and "Top 4 of the Best Financial Consultant Institutions in the Medical and Health Field in 2020" by Qiming Technology & Xinsheng Chuangfu.