GluBio Pharmaceutical Co., Ltd., an emerging player in targeted protein degradation drug development, has announced the successful completion of a $22 million A+ round financing. Since its inception in March 2021, the company has raised nearly $90 million in total funding. This latest round was led by existing investor Qiming Venture Partners, with participation from Eli Lilly Asia Fund and KAITAI Capital.
Enhancing R&D Pipeline and Protein Degradation Platform
The new financing will enable GluBio to comprehensively enhance its research and development pipeline and further upgrade its protein degradation drug development platform. Currently, two molecular glue drugs with best-in-class potential for treating relapsed/refractory hematological malignancies are in the IND-enabling stage, with plans to submit IND applications in early 2023. Additionally, three first-in-class protein degradation drugs targeting solid tumors or inflammatory diseases are set to enter the lead compound optimization phase.
Innovative Solutions in Protein Degradation
GluBio is dedicated to developing innovative small-molecule protein degradation drugs, focusing on previously “undruggable” pathogenic protein targets. The company specializes in next-generation molecular glue and PROTAC (Proteolysis Targeting Chimeras) drugs. GluBio has established a multidimensional protein degradation screening platform, an innovative target validation platform, a molecular glue rational design platform, and a proprietary library of highly active compounds.
The company boasts a world-class team for new drug development, with 80% of its members holding PhDs. The core team members bring extensive experience from large multinational pharmaceutical companies in both preclinical and clinical drug development. GluBio operates two major R&D centers located in San Diego, California, and Zhangjiang, Shanghai.-Fineline Info & Tech
