Beijing QL Biopharmaceutical Co., Ltd., a Chinese biopharmaceutical company, has reportedly secured nearly RMB 200 million (USD 28 million) in a Series B+ financing round. The round was led by IMEIK Technology and China-US Green Fund, with additional investments from Jiayuan Fund, Chengdu Capital Group, Lanchi Ventures, and other parties. The funds raised will be directed towards strengthening the company’s clinical studies for both first-in-class and biosimilar drug pipelines.
Established in 2018, QL Biopharma specializes in the development of recombinant protein drugs leveraging its Escherichia coli technology platform. The company has accumulated a financial reserve of RMB 300 million this year and has over 10 pipeline candidates, with a focus on GLP-1 for metabolic diseases. Among these, its proprietary ultra-long-acting GLP-1 receptor agonist, ZT223, has completed Phase I clinical studies in Australia for blood sugar control in type 2 diabetics. In China, the same molecule is undergoing clinical development for type 2 diabetes blood sugar control, overweight and obesity, as well as Alzheimer’s disease.- Flcube.com
